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Nairaland Forum / Nairaland / General / Politics / Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b (21248 Views)
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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Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by kolaaderin: 8:16pm On Apr 09, 2018 |
GavelSlam: God bless you. The pigs would like to lie to our face 2 Likes 1 Share |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by obi58: 8:16pm On Apr 09, 2018 |
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.... 2 Likes |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by olujastro: 8:17pm On Apr 09, 2018 |
Ugosample:Follow the news like I do if you have to exclaim next time or read my comment well enough. 2 Likes 1 Share
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Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Cajal(m): 8:17pm On Apr 09, 2018 |
vani86:... thanks for the knowledge shared Wailers can now understand ... 2 Likes |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by tiger28: 8:20pm On Apr 09, 2018 |
Heart attack for Biafrans!!! 4 Likes 1 Share |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by uba1991: 8:21pm On Apr 09, 2018 |
guterMann:no wonder.u are one of them Piiiiig continue wailing 4 Likes 1 Share |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by smirn(m): 8:21pm On Apr 09, 2018 |
TheShopKeeper:It means the money is in your own foreign account, don't go and work for the betterment of your life. 8 Likes 1 Share |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by tiger28: 8:21pm On Apr 09, 2018 |
TheShopKeeper:illiterates EVERYWHERE!!!!! 5 Likes |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Kingspin(m): 8:23pm On Apr 09, 2018 |
efficiencie:I understand where you are going but for me, it better we have low reserves and Nigerians are feed well. 2 Likes |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by toniok: 8:24pm On Apr 09, 2018 |
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? 6 Likes 2 Shares |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by tiger28: 8:26pm On Apr 09, 2018 |
3 Likes 1 Share |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by AZeD1(m): 8:26pm On Apr 09, 2018 |
olujastro:Bros deflation occurs when inflation gets to -0. Deflation is not the same as reduction in inflation. 4 Likes 1 Share |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Nobody: 8:28pm On Apr 09, 2018 |
AZeD1: 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 6 Likes 2 Shares |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Nobody: 8:29pm On Apr 09, 2018 |
Positiveminds: 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. 2 Likes 2 Shares |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by tiger28: 8:30pm On Apr 09, 2018 |
Afamed:BEST SUMMARY so far!!! A kindergarten child will understand the SIMPLE mathemmatics here. Numbers don't lie!!! 3 Likes |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by shedy03(m): 8:36pm On Apr 09, 2018 |
TheShopKeeper:good question. 1 Like |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by jamace(m): 8:36pm On Apr 09, 2018 |
kolaaderin: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. 1 Like |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Nobody: 8:38pm On Apr 09, 2018 |
...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 ![]() 1 Like |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Sagamite(m): 8:38pm On Apr 09, 2018 |
AZeD1: Huh? ![]() Mo gbe, to ri Olorun! (God help me!) Motherfucker, where did you do this your groundbreaking economics? 4 Likes 1 Share |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by shedy03(m): 8:38pm On Apr 09, 2018 |
vani86:sorry eh. how did we even get to N365=$1 from N200=$1? its sad. 1 Like 1 Share |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by ALMUSTAQIM(m): 8:41pm On Apr 09, 2018 |
"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" 13 Likes 2 Shares |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by AZeD1(m): 8:42pm On Apr 09, 2018 |
bozzyjoan: 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. 1 Like |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by unknownsolja: 8:43pm On Apr 09, 2018 |
tiger28: animalistic zombie.. 1 Like |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Afamed: 8:43pm On Apr 09, 2018 |
Ugosample: Another one has come. Was there any time Nigeria recorded foreign reserve of 40b dollar under GEJ? 5 Likes 3 Shares |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by usibengate(m): 8:43pm On Apr 09, 2018 |
AZeD1: 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 1 Like |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Sagamite(m): 8:44pm On Apr 09, 2018 |
Esseite: And so what if we have debt? 3 Likes 1 Share |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Sagamite(m): 8:46pm On Apr 09, 2018 |
CodeTemplar: Start giving us starts to back up your argument. Oya. 1 Like 1 Share |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Sagamite(m): 8:48pm On Apr 09, 2018 |
guterMann: You are a cretinous fuuktard! Which country funds its national budget from its foreign reserve? 6 Likes 2 Shares |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Nobody: 8:49pm On Apr 09, 2018 |
AZeD1: 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 1 Like |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Sagamite(m): 8:51pm On Apr 09, 2018 |
Mypeople2: Holder of PhD in Ekonomeeks from Jagbajantis University. 4 Likes 1 Share |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Enice(m): 8:51pm On Apr 09, 2018 |
Esseite: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. 6 Likes 2 Shares |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by kayfra: 8:52pm On Apr 09, 2018 |
maasoap: The average iPob brain is fascinating. Should be studied for perpetual conflicting views. Hence, zero sense. 2 Likes 1 Share |
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