GavelSlam:


Around the same as it was when Jonathan left office.

God bless you. The pigs would like to lie to our face

This thing is not further mathematics...

Why is the government borrowing to fund virtually all investment in the country at record budget highs?

Why is the government still unable to raise the minimum wage from N18,000 with 50 billion in the account?

Again I ask, why are we recording record borrowing I'm not every possible way to fund government activity if we are on sound economic footing?

Why are we not recording significant foreign investment and capital inflows into the economy if there is confidence in the economic direction of the country?

And of course, Bill Gates on the Nigerian economy..

The list goes on....

Ugosample:


Did you say Nigeria is experiencing deflation

My God!

What!!!!!

Na wa o

Follow the news like I do if you have to exclaim next time or read my comment well enough.

vani86:


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

... thanks for the knowledge shared
Wailers can now understand ...

Heart attack for Biafrans!!!

guterMann:
Another cheap propaganda from APC.

External reserve does not mean anything.

(1) The monies in the foreign reserve include the ones from depts(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 DEPT TO INCOME RATIO,I DARE APC TO RELEASE THE DEPT TO INCOME RATIO OF NIGERIA.

THE LAND OF THE RISING SUN MUST SET FORTH AT DAWN

no wonder.u are one of them
Piiiiig continue wailing

TheShopKeeper:
...and what does that translate to the average Nigerian?

It means the money is in your own foreign account, don't go and work for the betterment of your life.

TheShopKeeper:
...and what does that translate to the average Nigerian?

illiterates EVERYWHERE!!!!!

efficiencie:


Well the reserves are not good for nothing...the rise in the price level that crippled economic activities in Nigeria for almost two years was occasioned by the scarcity of foreign reserves. Nigeria is still import dependent and if those reserves deplete below the threshold import cover prices will rise again. I am sure you can still remember how you go to the market to buy biscuit at a much higher price only to be told that "dollar don increase"! So you have to thank God that our reserves are back and growing!

I understand where you are going but for me, it better we have low reserves and Nigerians are feed well.

Some people have come here to tell us that foreign reserve does not mean anything. My question is, what was GEJ doing with it that made it fall from near 60 billion dollars to about 25 billion at the end of his administration?

unknownsolja:
buhari back to daura..

Did you read the news JUST for ONE secondRobotic illiterate!!!

olujastro:

Follow the news like I do if you have to exclaim next time or read my comment well enough.

Bros deflation occurs when inflation gets to -0. Deflation is not the same as reduction in inflation.

AZeD1:

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.

let me use your point to explain.
foreign reserves helps in the stability of the currency how? I will explain to u.
Dangote for example imports some concentrates he adds to produce cement. If nigerias reserve is low like say $20b and he want to import something worth 2 billion dollars.nigerian gvt cant gv borrow him dat money cuz we are short of it at dat 20 billion mark,so with dat he will source 4 dollars 4rm d parrallel market, when he gets it at say 365 naira instead of 305 he imports and uses it..what he wil produce inturn wil have to bridge dat 62 naira gap cuz he paid more to get it..with dat he wil increase the price of his cement to augument the lost 62 naira.now dat was what hapnd wen buhari floated the exchange rate...cuz the reserve was low and investors cant get dollars easily wh....(nospace

Positiveminds:
Let me explain this in simple terms. Amassing Foreign Reserve in a time of hyper inflation is bad economics. People will continue to suffer because the country isn't producing anything.

Good financial management is to invest capital projects to produce more. That will arrest the problem of inflation as the Nigeria begins to stabilize against other currencies. With the present state of the economy, the naira will remain worthless, relative to other currencies. Soon,a loaf of bread would sell for N500.00, if they don't invest in infrastructure, boost production , heaping up foreign reserves will remain bad decision.

And the projects (rails, roads and agricultural loans) the government in spending money on are called liability projects?

You need to wake up. I said it before and I will say it again; they way business is been done has changed in Nigeria. Stop struggling to stick to old explanations for new phenomena.

Nigeria spent $1B/year on wheat and $2B/year on rice imports. Where do you think the money to support these activities came from?
Besides the toothpicks and others.

It is one thing to run a single store, but when I give you ten stores to run; that's when you figure out the difference btw liabilities and debt.

Afamed:

There is big deal here my brother. The same crude oil was above 100 dollar during the last administration but the foreign reserve never grew beyond 23billon dollar. Now the crude is 56/55 dollar per barrel and we are having 47billion dollar in the reserve. The conclusion is for you to know why stealing is not corruption under the last administration.

BEST SUMMARY so far!!! A kindergarten child will understand the SIMPLE mathemmatics here. Numbers don't lie!!!

TheShopKeeper:
...and what does that translate to the average Nigerian?

good question.

kolaaderin:


God bless you. The pigs would like to lie to our face

So 12 trillion naira debt in 5 years is equal to 20 trillion naira debt under 3 years? Na wa for some people maths o.

...bt when the reserve is high,black market forces would begin to loose more power cuz cbn would increase forex liquidity in the market tru banks.just imagine 1billion dollar intervention monthly and u wil c how dollar to naira exchange rate wil drop bt dat wil only hapn if our reserve is at abt 300billion or trillion as compared to china f.r..so it really affects the local currency alot..bt with dat na still #back2dauracome2019 o

AZeD1:

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.

Huh?

Mo gbe, to ri Olorun! (God help me!)

Motherfucker, where did you do this your groundbreaking economics?

vani86:


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

sorry eh. how did we even get to N365=$1 from N200=$1? its sad.

"I accept Buhari has not done anything for Nigeria in the last 3yrs of his administration, but come 2019, some of these will be on his CV.
- All salary arrears paid up
- All contractual debts paid up
- All Pension arrears paid up
- All money owed Biafran war veterans paid off
- Almost known treasury leakages sealed up
- Treasury thieves being investigated and prosecuted
- Recession overcome within one year
- The foreign reserve keeps growing despite low oil price
- Inflation is reducing
- The Capital market rated highest globally
- The ease of doing business rated high
- Greatly reduced food import bills
- Greatly increased Internal Revenue Generation drive
- Revamped and more effective tax regime
- More efficient and more responsible Civil Service
- All Federal roads being reconstructed across the Country
- Fast rails being constructed between the state capitals
- Gas pipeline being laid from South to Abuja, Kaduna and Kano
- 13 Modular Refineries being built in ND
- Private Financing for our three Refineries being negotiated
- Private Refineries to collocate with the existing Refineries being concluded
- Influx of foreign companies increasing
- Increased investments by domestic investors
- The Electricity Generating capacity at 7000 MW
- Transmission Capacity at 7000 MW
- Distribution capacity being restructured to inject more capital and expertise
- The economy of Nigeria being Restructured from oil based to Agric, Solid Mineral and Manufacture based
- Boko Haram now a distant ding in the orchestra of general quietude
- IPOB now a mute idea ready for discussions at the right time
- Niger Delta Avengers now reduced from a movement to Madam’s Patie military wing for retaining her loot.
- Military vehicles sourced from a Nigeria car manufacturer for the first time
These are not propositions; all these and more will be on the Curriculum Vitae of PMB in the 2019 Presidential Elections. And he did not achieve these by fluke, he was deliberate; the economy he inherited was dire. The country was running on one cylinder and the engine had just coughed its last, the engine was dead and the ”plane” was adrift.
I know all these achievements won’t make meaning to wailers because they are not putting money directly into your pockets. I know that is the only achievements Nigerians recognise. The amount of money individuals grab into their pockets.
Orderliness is more vital than speed"

bozzyjoan:


let me use your point to explain.
foreign reserves helps in the stability of the currency how? I will explain to u.
Dangote for example imports some concentrates he adds to produce cement. If nigerias reserve is low like say $20b and he want to import something worth 2 billion dollars.nigerian gvt cant gv borrow him dat money cuz we are short of it at dat 20 billion mark,so with dat he will source 4 dollars 4rm d parrallel market, when he gets it at say 365 naira instead of 305 he imports and uses it..what he wil produce inturn wil have to bridge dat 62 naira gap cuz he paid more to get it..with dat he wil increase the price of his cement to augument the lost 62 naira.now dat was what hapnd wen buhari floated the exchange rate...cuz the reserve was low and investors cant get dollars easily wh....(nospace

Nigeria is probably one of the few countries in the world that has a "parallel market". Having a parallel market is a bad sign for an economy.


Countries like China and Japan have low currencies to enable export. This is the same with almost every "normal" country were the rise or decline in the currency affects exports but for Nigeria its totally different because what we have is a "pseudo economy" for lack of a better word.

tiger28:
Did you read the news JUST for ONE secondRobotic illiterate!!!

animalistic zombie..

Ugosample:


Stop lying

The foreign reserves was about 46b plus under GEJ at some point, but began to decline as the oil price was falling.

it fell to its lowest point under Buhari (between 23-27b not sure of the exact figure) And began to rise again.
Another one has come. Was there any time


Nigeria recorded above 40b dollar under GEJ As foreign reserve?

there was NEVER a time in GEJ govt that the reserves was 23b

Another one has come. Was there any time Nigeria recorded foreign reserve of 40b dollar under GEJ?

AZeD1:

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.

You seem not to understand what you are saying! What is import liabilities go make research and come back to post your findings please. You are at variance with what foreign reserve means

Esseite:
Dont be deceived...

What do we then do with the N20tr debt profile in same 30months?

Fools paradise....

And so what if we have debt?

CodeTemplar:
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.

Start giving us starts to back up your argument.

Oya.

guterMann:
Another cheap propaganda from APC.

External reserve does not mean anything.

(1) The monies in the foreign reserve include the ones from depts(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 DEPT TO INCOME RATIO,I DARE APC TO RELEASE THE DEPT TO INCOME RATIO OF NIGERIA.

THE LAND OF THE RISING SUN MUST SET FORTH AT DAWN

You are a cretinous fuuktard!

Which country funds its national budget from its foreign reserve?

AZeD1:


Nigeria is probably one of the few countries in the world that has a "parallel market". Having a parallel market is a bad sign for an economy.


Countries like China and Japan have low currencies to enable export. This is the same with almost every "normal" country were the rise or decline in the currency affects exports but for Nigeria its totally different because what we have is a "pseudo economy" for lack of a better word.

fake economy ? Haba datz 2 hash.. U cant compare chinas' trillion dollar reserve and market structure with nigeria..ANYWAY #B2DAURA2019 Bt he is doing a good job in terms of the F.R

Mypeople2:
Well that is nice.It is like having N10,000 in your account yet you are sick,hunger,homeless, untidy,begging people for N100 and even borrowing N50 everyday from people,still you don't want to touch that 10k.In fact,you are adding the little ones they give to you to the 10k.Nigeria,I hail thee!

Holder of PhD in Ekonomeeks from Jagbajantis University.

Esseite:
Dont be deceived...

What do we then do with the N20tr debt profile in same 30months?

Fools paradise....

America have the highest debt profile in the world but America also have the largest economy. Why is it so? A rich man does not build his financial empire with his hard earned money but with loans. If you check the financial standing of Dangote as at today, you will find that he has taken loans from banks. Why should the richest black man take loans from banks some of which he is far richer than? People assess you for what you have and not what you expect because expectation is a two way thing. Now what do I mean? The 47B is what we have and we can play with it, investor will assess us with that. We have borrowed more as seed money and we expect returns. That is our expectation.

maasoap:


And it is also funny that people who accuse Aregbe for infrastructural development and huge debts at the state level are also the ones saying savings without infrastructure at the Federal level is not cool. Lol.

The average iPob brain is fascinating. Should be studied for perpetual conflicting views. Hence, zero sense.