Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b - Politics - Nairaland
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British court orders Irish firm to seize $9b Nigeria’s foreign reserves / Nigeria’s External Reserves Hit $44bn First Time In 2019 / When PDP Hears That Nigeria Foreign Reserve Has Hit $47 Billion USD (2) (3) (4)
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| Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by kahal29: 4:18pm On Apr 09, 2018 |
Nigeria’s foreign reserves have continued to grow significantly with latest figures by the Central Bank of Nigeria (CBN) at about $47.37 billion as at April 5. The new figures rose from about $46.2 billion realised at the end of March. The CBN Governor, Godwin Emefiele, announced the new balance in the reserves on Monday at the opening of the 25th seminar for Business Editors and financial Correspondents in Uyo. Mr Emefiele, who was represented by the newly appointed deputy governor, Corporate Services, Edward Adamu, said the CBN hopes to meet the $50 billion target before the end of the year. Nigeria’s latest foreign reserves is about $4 billion more than that of South Africa. South Africa’s net foreign reserves rose to $43.384 billion in March from $43.272 billion in February, the Reserve Bank said on Monday. Gross reserves fell to $49.979 billion from 50.051 billion dollars, the South African central bank data showed. The forward position, which represents the central bank’s unsettled or swap transactions, fell to $1.996 billion from $2.057 billion. “The decrease of 72 million dollars in the gross reserves reflects the foreign exchange payments made on behalf of the government. “It was partially offset by the depreciation of the U.S. dollar against most currencies,” the South African central bank said. https://www.premiumtimesng.com/news/top-news/264427-nigerias-foreign-reserves-hit-47-billion.html 19 Likes 5 Shares |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by GavelSlam: 4:21pm On Apr 09, 2018 |
Things are looking up. 67 Likes 5 Shares |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by TheShopKeeper(m): 4:23pm On Apr 09, 2018 |
...and what does that translate to the average Nigerian? 73 Likes 3 Shares |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Nobody: 4:31pm On Apr 09, 2018 |
TheShopKeeper: I pray people like you get a visa to a foreign country. So you learn the real difference between your fathers house and the orphanage. 166 Likes 22 Shares |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by vani86: 5:00pm On Apr 09, 2018 |
TheShopKeeper: It means Naira to other foreign exchange remain stable and not fluctuate anyhow, it leads to stability of a countries currency when compared to others. so yes, it affects the common nigerian indirectly 111 Likes 15 Shares |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by abduljabbar4(m): 5:07pm On Apr 09, 2018 |
What we went through in 2015, 2016, and half of 2017 was nothing but the result of the foolish buffon. Even madam puff puff told nigerians to prepare for a hard time and lets not forget how gej had to borrow inorder to pay salaries a few weeks before he handed over to Buhari. Now that the mess has been cleaned up, its time to get to work. Sai Baba. If you like go and get yoyr pvc. my one vote will scatter your 1 useless vote 151 Likes 16 Shares |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Nobody: 5:09pm On Apr 09, 2018 |
Dont be deceived... What do we then do with the N20tr debt profile in same 30months? N12tr between 1999 and 2014 (16yrs) N8tr between 2015 and 2017 (3yrs), with no tangible infrastructure. Moreover, we have Eurobond/treasury bills/debt repayments all accrued in that reserve, what happens when its time to pay proceeds with interest? Fools paradise.... Nigerians are wiser. 61 Likes 8 Shares
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| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by hisgrace090: 5:19pm On Apr 09, 2018 |
But the dollar is not coming down, why? 10 Likes 1 Share |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by GavelSlam: 5:41pm On Apr 09, 2018 |
Esseite: Around the same as it was when Jonathan left office. 54 Likes 12 Shares
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| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by AZeD1(m): 6:26pm On Apr 09, 2018 |
vani86:Stop misinforming people. Foreign reserves is basically the money government has to pay for imports(liabilities). Has nothing to do with stability of a currency. 57 Likes 4 Shares |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by CodeTemplar: 6:38pm On Apr 09, 2018 |
abduljabbar4:Can you compare Agric Ministry under Adesina to what it is under Ogbeh today. If we break this admin down ministry by ministry and compare to 4 - 5 years ago, it becomes easier to see the faults of the current admin. Ask yourself what our Agric output would have looked like if the Buhari govt didn't default on fertilizer payment and doubled investment on other aspects of agric? The APC knew what the system was like before their campaign. We can't use handover conditions to justify a 3 years of weak growth. 28 Likes 1 Share |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Redoil: 6:42pm On Apr 09, 2018 |
Mumu people what is the essence of huge savings when there is hunger and no infrastures in place to better the lives of nigeria Buhar and his followas na who mumu pass self 9 Likes |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by CodeTemplar: 6:46pm On Apr 09, 2018 |
AZeD1:Oga it has everything to do with stability of currency. The govt takes forex from the reserve and use it to meet import need on a short term basis. The volume of forex in market helps drive down forex price just like any other commodity. The main thing here is that the govt varies the availability of forex (its volume) in market to try and maintain a stable exchange. It is a short term strategy. 76 Likes 5 Shares |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by CodeTemplar: 6:50pm On Apr 09, 2018 |
Redoil:It is funny how people how applaud Aregbesola for infrastructures and huge debts at the state level think savings without infrastructure at federal level is cool. 4 Likes |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by quickberry(m): 6:50pm On Apr 09, 2018 |
#IstandwithBuhari 22 Likes 2 Shares |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Igba123: 7:26pm On Apr 09, 2018 |
Ehh! Mtchhhh! 1 Like |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Igba123: 7:30pm On Apr 09, 2018 |
Ehh! There is still much hunger in d land and our debt keep rising. Abeg is it dat d govment borrow to save or what? Mtchhhh! 4 Likes |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by handsomeyinka(m): 7:35pm On Apr 09, 2018 |
Wait till the the tax season is over in usa... |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by ManirBK: 7:35pm On Apr 09, 2018 |
BABA is working... 2019 SAI BUHARI loading... 5 Likes 2 Shares
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| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Delivar(m): 7:36pm On Apr 09, 2018 |
So how does it translate to a better life for citizens? 6 Likes 1 Share |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by unknownsolja: 7:36pm On Apr 09, 2018 |
TheShopKeeper: zero 7 Likes 1 Share |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Nobody: 7:36pm On Apr 09, 2018 |
Another cheap propaganda from APC. External reserve does not mean anything. (1) The monies in the foreign reserve include the ones from debts(BONDS AND TREASURY BILLS) that are foreign currency denominated. (2) The foreign currency remittances from Nigerians abroad. (3)The difference between the oil benchmark and the oil price. If the country is that 'rich' why not fund the budget from the Foreign Reserve? Foreign reserve means nothing,A BETTER INDICATOR IS THE DEBT TO INCOME RATIO,I DARE APC TO RELEASE THE DEBT TO INCOME RATIO OF NIGERIA. THE LAND OF THE RISING SUN MUST SET FORTH AT DAWN 30 Likes 5 Shares |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Nobody: 7:37pm On Apr 09, 2018 |
But our infrastructure is that of 1800 A.D and APC is perplexing us on every side. 3 Likes |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by semyman: 7:37pm On Apr 09, 2018 |
They will still not be happy. Children of hate will always prefer the looting gang 31 Likes 1 Share |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by unknownsolja: 7:37pm On Apr 09, 2018 |
buhari back to daura.. 4 Likes 2 Shares |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Ugosample(m): 7:37pm On Apr 09, 2018 |
Oil prices has more than doubked since 2016 So this is to be expected No big deal. The oil price falls tomorrow, and you will see how that reserves will fall. My issue now is.. . Why is this govt plunging Nigeria into serious debt, without tangible projects on ground? This country sef  7 Likes 2 Shares |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by benueguy(m): 7:38pm On Apr 09, 2018 |
Mtchwww 2 Likes |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Ugosample(m): 7:38pm On Apr 09, 2018 |
Delivar:Help me ask them o 1 Like |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by coldsummer: 7:38pm On Apr 09, 2018 |
It's laughable 1 Like |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by ZarahBuhari: 7:40pm On Apr 09, 2018 |
A Thread for zombies especially the one sitting on FTC. Deluded and inconsequential souls 3 Likes 1 Share |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by wristbangle: 7:41pm On Apr 09, 2018 |
abduljabbar4: Hehehe na wao |
| Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Kingspin(m): 7:42pm On Apr 09, 2018 |
Good for nothing reserve. What purpose does it serve the people? Empty leaders everywhere. 3 Likes 1 Share |
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