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Nairaland Forum / Nairaland / General / Business / External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m (14561 Views)
External Reserves Drop To Three-month Low / External Reserves Hit Two-week Low As Naira Weakens / Nigeria’s Foreign Reserve Now $27.4bn (2) (3) (4)
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Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by Nobody: 7:37am On Apr 06, 2016 |
sirpompey: Diversifcation takes time. As I have said....PMB needs to spend more on power. I am not a Buhari fan...he needs to do more you know. I also don't like PDP and their lies. 2 Likes |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by dboss444: 7:39am On Apr 06, 2016 |
tonio2wo: How long are we going to keep importing stuff? Nigerians has to look for a way to manufacture these things here so we can grow our own locally |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by Nobody: 7:39am On Apr 06, 2016 |
tiwiex: Agric is another form of resource dependency. Prices drop there too...well well.(Ask Burkina how they are doing with cotton). Manufacturing is the way out. We must industrialize. We have no choice. |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by gratiaeo(m): 7:40am On Apr 06, 2016 |
The truth is Buhari doesn't have anything upstair and he's arrogant. He wouldn't allow his ministers to perform. What a stup1d presidiot |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by SycophanticGoat: 7:42am On Apr 06, 2016 |
Quakertellicus1: Hahahahahaha! Same ECA that Amaechi, Oshomole and Rochas wanted to kill him for? They eventually used the court to force it out of the the FG but as usual, GEJ takes the blame... 2 Likes |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by skyhighweb(m): 7:43am On Apr 06, 2016 |
Quakertellicus1: no it takes a smart person to know a dullard u my friend are it(dullard) |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by uyplus(m): 7:44am On Apr 06, 2016 |
Quakertellicus1: What we ahould be asking the PDP supporters is that, what do the think th previous government would have done differently? Ofcourse because they steal in billions to fund their ostentatious lifestyle, there probably wouldn't have been anything left in our reserves.. Many years ago, We had oil selling at auch a high price, but the then ruling government never thought about saving for the rainy day. It remains a mystery and a miracle that this government hasn't gone borrowing, because the previous government would have gone borrowing. Although oil was sellling for as high as $140pb the immediate past government still went onto borrow money and plunge us into more debts, the recovered abacha loot from Switzerland was still stolen. And yet some idiots would think this government is gonna pull magic with oil sellling at $35pb? Have they forgotten so soon that we are still a mono-economy and our major source of forex is from crudeoil produce? If PDP is their last hope, why did they fail to diversify this oil dependent economy over the 16years period? We should have been having another source of forex maybe from agric produce or whatever, but they bitter truth is that they didn't. Should the cbn open up its damn reserves and throw dollar at every dick and harry who needs it? It is simple economics, we are an importing nation and our demand for dollar is more than our dollar supply due to dwindling oil prices. Do people still want dollar so they can import palmoil from malaysia, toothpick from china etc? It will be so foolhardy and inhumane to compare 16years of pdp rule to 1year of apc rule. Apc goofed by promising what they can't offer within the initial time frame of 4years, but i am hopeful everything will be fine. My problem with this administration is the economic team. The finance minister and the CBN governor are both deadwood.. they both lack the expertise to stimulate this economy.. So please, pdp supporters should give me a break. They couldn't fix electricity problem in 16years, they couldn't provide us other basic ammenities like hospitals, portable drinking water and good roads etc all thru their 16 years of rule. |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by amakenny: 7:45am On Apr 06, 2016 |
Jirate: Don't blame Buhari, pls. Blame Tinubu. After 2011 loss of his bid to become president of Nigeria, Buhari announced that he has retired from Politics. Ethno/Religious bigotry and greed made Tinubu to go and BEG Buhari to come out to contest the 2015 elections. Tinubu openly bragged that he did that. Tinubu and his former ACN people boast they knew that Buhari is an economic illiterate but still voted him president of Nigeria - in the 21st century. After Buhari became president, Tinubu collected the office of FIRS through Tinubu boy, Fowler appointed by BUhari. After the Petroleum Ministry, FIRS which generated more than N4.8 Trillion last year is the second largest earner of money for Nigeria. That's the way the Nigerian cookie started to crumble. 1 Like 1 Share |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by mbaboy(m): 7:47am On Apr 06, 2016 |
Continue with the blame game but know that gej left office since May 29 2015. If the country crash now it happened under Buhari's administration. Quakertellicus1: |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by SycophanticGoat: 7:47am On Apr 06, 2016 |
Quakertellicus1: As usual, absolve the dullard off the blames when he majorly took part in crumbling our manufacturing capacity in the 80s. Same Buhari that thwarted the completion of Ajaokuta steel and Lagos metro line is being absolved off blame. Do you know what we would have achieved if Ajaokuta was completed and fully functional? But the brain dead goat had to throw out Shehu Shagari. Please give another excuse cuz this one is furking lame! 2 Likes |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by ajepako(f): 7:49am On Apr 06, 2016 |
Firefire: Shey sobi-sako yen? won seesee nji loju oorun ni.... Ara gbogbo won maa bale nigbati gambari baba won ba tan won si oko ale.. Se daada ni jare? 1 Like |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by Firefire(m): 7:50am On Apr 06, 2016 |
ajepako: Adupe lowo Olorun Oba, ko ti ko ja afi'arada. |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by Martinezbaba: 7:50am On Apr 06, 2016 |
ATERI: U need a brain reset, do u really know the meaning of investor? Not even any developed economy will tell investors to go to hell. It seems Daura King has infested u with Brain damage. 3 Likes 2 Shares |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by Vongsama(m): 7:51am On Apr 06, 2016 |
I wish your beloved PMB thinks the way u do, unfortunately he doesn't n dat means u r jst speaking rubbish without facts. U tink buhari want to diversify d economy n away from oil? That a lie. Ask yourself, y did he dedicated N40billion in d budget to finding oil in d northeast? U c? The dullard is no good. We still hav oil bt its already failling us bt ur saint is spendin dat big jst to find d same oil meanwhile only N29bilion was allocated to agriculture. About GEJ, u said it dropped to 32billion. Was is GEJ that dropped it to 27now? U guys shld quite insultin GEJ already. All his shortcomings shlndt b an excuse anymore. This is a failed administration bt zombies will nt agree Quakertellicus1: |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by SycophanticGoat: 7:52am On Apr 06, 2016 |
uyplus: What did Buhari do differently as a military head order than killing the big Engineering dream of this country? Who killed Ajaokuta Steel? Mind you, the death of that mighty establishment lead to the death of the likes of Itakpe, Aladja steel, Delta steel, and other coys that may have sprung up like rolling mills, foundries, fabrication firms, automobile firms, powder metallurgy firms, other mining firms, mineral processing firms, etc. |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by ITbomb(m): 7:52am On Apr 06, 2016 |
So na like this all the gains of Jonathan are being reversed. The agricultural evolution that was acclaimed worldwide is dormant now All the car plants that were competing for commencement are shut down O Buhari! Please PDP come back and rescue us 2 Likes 2 Shares |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by PrinceEvolution(m): 7:53am On Apr 06, 2016 |
paddy odensy on d loose..why are u so dull?so u think derez a nation dat can be self sufficient?even china invites investors as rich as dey are...let alone a drowning nation like urs..if i call u dense by now u shud call it a praise cuz u deserve worse appellation..take a look around u and see all small nations around u growing faster and av everything basic as it were even if dey dont av half of ur natural minerals..u are indeed blank brain object..gerrrahhhia mehn.. ATERI: 2 Likes 2 Shares |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by alexlee50: 7:55am On Apr 06, 2016 |
NavierStokes:my guy u get sense wella.people are beginning to see through the lies.what about the 90b dollars they claimed diezanni returned or the 200b dollars returned by Dubai? Why can't they use it to shore up the value of the naira? The simple reason is that no money was recovered 2 Likes 2 Shares |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by SycophanticGoat: 7:55am On Apr 06, 2016 |
glook: Hahahahahahahahahahaha! What sufferings can be worse than this one Nigerians are facing presently? Chai! Thank goodness I ain't no zombsicle.. |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by tonio2wo: 7:56am On Apr 06, 2016 |
dboss444:I agree but there should be an alternative no matter how little before we become strict on some of d importation laws. |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by Sijo01(f): 7:56am On Apr 06, 2016 |
Quakertellicus1: It's over 11 months and you're still blaming PDP. This situation you found yourself is irredeemable. 2 Likes 2 Shares |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by PrinceEvolution(m): 7:58am On Apr 06, 2016 |
bro go and see wat i wrote the mofo..the guy calling him daft..is a praise appellation for him,i av no word to tell him let me just assume it was a reflex or he thot he was been pissed off..no sane person will tell investors to piss off..dat lad needs overhauling of all d poo he has been fed.. Martinezbaba: 1 Like 1 Share |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by repogirl(f): 7:59am On Apr 06, 2016 |
Congratulations Booohari. 1 Like 1 Share |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by bristol201(m): 8:01am On Apr 06, 2016 |
chubbyFred10:Which war ? Let it get to your head "There will be no war" you better relocate to Somalia if you are not satisfied. I expected them to flood this thread the children of hate. They became mute when just one person (Saraki) was indicted of depositing Millions of Naira fifty times in one day. In Nigeria elephant can fly. Take it or leave it wailers. |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by SycophanticGoat: 8:01am On Apr 06, 2016 |
tonio2wo: No mind them jare! No manufacturing firms, no mining firms, no good road, no water supply, no power, just nothing, absolutely nothing on ground and the best bet is to block off importation of several items. Even I want to begin manufacturing stuff, how will I get raw materials? Is it not still thru importation? Let them continue deceiving themselves! |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by Nobody: 8:02am On Apr 06, 2016 |
Quakertellicus1: I read dat shìt before Is there anything else 1 Like 1 Share |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by Vongsama(m): 8:03am On Apr 06, 2016 |
What I can tell u however, is that throughout PDP erra, things never got this bad. It is not in our democratic setting to ever b this backward. Oh, I mean it WAS never. PDP was bad but they never brought us this far down our feet. But who's even talking party here? Am talking buhari d d.ullard from daura. uyplus: |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by lohresloco: 8:03am On Apr 06, 2016 |
Not true, it takes a smart man to know "the dullard" Quakertellicus1: |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by Nobody: 8:04am On Apr 06, 2016 |
Quakertellicus1:Yes diversification takes time but whats the present admin. doing about it |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by emi14: 8:06am On Apr 06, 2016 |
slap1: Fr. Mbaka prophet of God as claimed could not see Nigeria beyond Patience Jonathan/Buhari for the future of Nigerians both unborn. Am a catholic. I am not affiliated to any political party and doesn't reside in Nigeria either, I must say that Mbaka is a disgrace to whatever he believe and represents. He owe Nigerian Catholic community and Christians unreserved explanations and apology for his supports on Buhari. I am totally disappointed in him; can't play his music's anymore. 1 Like |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by repogirl(f): 8:08am On Apr 06, 2016 |
I keep hearing diversification, diversification... And it's funny. Boooooohari and his stiff policies are chasing away these same investors that are supposed to invest in the 'diversification' projects and some zombies are happy, hailing him. Who will give you the necessary capital to ensure this 'diversification' actually happens when all of them are fleeing from our economy? Abi is the diversification from the budget also? Funny. 2 Likes |
Re: External Reserves Drop To $27.85bn As Foreign Investors Repatriate $30.2m by Nobody: 8:09am On Apr 06, 2016 |
Jirate: Obviously neither you nor the reporter know how markets work. The report spoke of the repatriation of profits which would be dividend bonuses and capital gains. This is not the same as selling the principal investments. Secondly, market reputation needs investors to be able to enter and exit in an orderly manner. If investors cannot exit at will then the market fails. Rather than being seen as bad news, this is very good news. Foreign portfolio investors repatriation profits and gains is NOT bad news. What is bad news is if strategic investors such as Diageo, Coca Cola, Guinness etc sell out their equity stakes in Nigerian companies. This is not happening. In fact Coca Cola have made a major investment in Chivita. Portfolio investors on the other hand enter and exit markets at will looking for short term gains. They have no loyalty to any country or market. These are the people repatriating profits, which is to be expected. When trying to knock a government it is important to understand the issues clearly before making your point. Hatred of all things Buhari or APC should not drive us to embarrass ourselves. You don't have to comment on every story, just because it is on the front page. Wait for areas and times in which you can make a worthy contribution. The more you do this, the more you will have the ability to analyze events in a powerful and effective way. |
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