Good one

our land going green but president suffering is at is peak

EMMAUGOH:
The improvement in export value is largely due to the depreciation in the value of the naira.

dem no see na no be as a result of improvement in anything but depreciation of the naira. Is it a good thing?

APC propaganda. ... any statistics and figures from APC is false propaganda to salvage their failure

The structure of Nigeria’s import trade by section
was dominated by the imports of “Boilers,
machinery and appliances:::::::::: honestly if we can limit our exports to equipments that will help in mechanizing various sectors of the economy, trust me our dependency on crude will be limited.

Hiploko:
dem no see na no be as a result of improvement in anything but depreciation of the naira. Is it a good thing?

lets not spoil their joy, they have every right to be happy and sad later if what am thinking is true

Nairalanders and non comprehension are like 5 and 6. Educated but illiterates.

Let me summarise what is up there for you.

You use to go to the market and prepare ogbono soup for 10 servings with 1thousand naira. But now you cook the same ogbono soup for the same 10servings for 2thousand naira cos the naira has no value again.


Your money expenditure (merchandise trade)has increased drastically but the
merchandise is still the same.

HOW IS THAT A GOOD THING that you lots above me are celebrating about. Kai. Smh.

EMMAUGOH:
lets not spoil their joy, they have every right to be happy and sad later if what am thinking is true

my dear. Zombiesm is an incurable disease. How can 1 be celebrating depreciation of it's currency value? They just saw headlines and started jubilating. Goodnews scarce for this govt sha! That's y dey hunger for it

With all truthfulness and honesty we will get there. since I joined nairaland early this year I've not read such good prayerful and hopeful comment on nairaland before I guess some Igbo bois are still in bed ;DWith all truthfulness and honesty we will get there. since I joined nairaland early this year I've not read such good prayerful and hopeful comment on nairaland before I guess some Igbo bois are still in bed

With all truthfulness and honesty we will get there. since I joined nairaland early this year I've not read such good prayerful and hopeful comment on nairaland before I guess some Igbo bois are still in bed

KINGwax007:
No matter what, I still stand with buhari..

Little by little, we will reduce our import dependencies.
Good news for me, bad news for wailers..

Buhari is just doing what shld av been done..

We get rubber trees, we dey export rubber for our industries

We get timber, we dey import toothpick and pencils

Raw materials for slippers, we dey import am

Texiles too na import

Paper na import things

Wailers are shameless, walahi..

Peace out

Na your teeth u wan take cut down the trees process am shey Stop being myopically sentimental. Besides what should have been done by who? Obasanjo

adorable29:
Nairalanders and non comprehension are like 5 and 6. Educated but illiterates.

Let me summarise what is up there for you.

You use to go to the market and prepare ogbono soup for 10 servings with 1thousand naira. But now you cook the same ogbono soup for the same 10servings for 2thousand naira cos the naira has no value again.


Your money expenditure has increased but the
merchandise is still the same.

HOW IS THAT A GOOD THING that you lots above me are celebrating about. Kai. Smh.

Finally someone that understands English


Our exports value increased because of the naira depreciation. The amount if goods were basically the same but the amount in naira is more due to naira dollar exchange rate depreciation

Jaymaxxy:
The wailers won't believe NBS on this.

Just as zombies will believe it, hook, line and sinker!

Exchange rate gains #YouMustBeJoking*

good news to start d day...more export pls frm d govt

I take this with a pinch of salt... Economy is in recession and export is growing. Two mutually exclusive items.

princechiemekam:
I no trust this people!!! Maybe Buhari don warn d Oga say if him tell Nigerians the truth again na 2 sack am b d next option. ... Just read and pass oo

Your hatred go kill you.... Just a little faith is all u need

These guys love fooling us...

How e no go increase for country way money no get value
.. ask your self this. What was the value of nairn when the statistics was low. Things has gone from bad to worst and those brainless liars at Abuja will be giving us statistics with fake interpretation and I dey vex for my brothers and sisters here wey just dey hail dem say good news good news. #readandunderstand

Standing5:
More export less import. That's how to break free from the oil dollar spell.

I guess we missed the part they mentioned exchange rate gains. What does that really mean? Are they multiplying our export dollar value by the new exchange rate? If so, then we exported way less than last year but are multiplying it by a new naira rate of .... Not sure tho but considering our economic situation, could we logically be exporting more? I know they banned charcoal wood from export sometime back. Anyone with clarification on this?

kennsville:
How e no go increase for country way money no get value
.. ask your self this. What was the value of nairn when the statistics was low. Things has gone from bad to worst and those brainless liars at Abuja will be giving us statistics with fake interpretation and I dey vex for my brothers and sisters here wey just dey hail dem say good news good news. #readandunderstand

I just made a post on that above. I also see it as not so clear information.

Jaymaxxy:


But you trust them when they said the economy is in recession?

Just see how 97% of you guys perched there without understanding what was written...just celebrating ignorance...and to think you have the effrontery to ridicule others ignorantly shows you have won the crown ... How's this article about any goodnews? what is good about this news for Nigeria or Nigerians? smh

My brother leave those people. They are just trying with vulnerable. Clueless

richard870:
Exchange rate gains #YouMustBeJoking*

Because naira has depreciated that's it...so if you exported goods worth $100(21500@215 per dollar) in 1st quarter now same good will give you like 41500@415 per dollar...that's all

This government has finally decided to tamper with the professionals at the Nigerian Bureau of Statistics.

"The growth was as a result of the devaluation of the Naira".


To understand what this article is saying, let me simplify:

Imagine foreign trade last quarter was $100. At an official exchange rate of 197, that would be equal to 19,000 Naira.
Imagine foreign trade fell to $80 but we now have a new official exchange rate of 320, that would be equal to 25600 Naira.

And now on that basis, you claim a growth in trade. This is fraud. I am an economist.I cannot be deceived. Please NBS don't lose your credibility.

I want good results to come but it mustn't be used to deceive the illegible public

sarrki:
I strongly believe we will get out of this mess

How, if I may ask? Did you really go through the analysis? It will be a miracle if we come out of recession by 2019. 80% of the total export value came from Oil and you saw it as a light in the tunnel.

EMMAUGOH:


Finally I found someone that can read and understand..
Others above and below me u just failed the test..

I'm amassed at the level of young people's understanding these days. is it that they fail to read d report or they can't just comprehend? Report says there was growth in cash due to naira depreciation and they are rejoicing. Aye ti baje gan ooo. May destruction be d lot of everyone responsible for d destruction of d Nigeria educational system.

Whynotthetruth:


Because naira has depreciated that's it...so if you exported goods worth $100(21500@215 per dollar) in 1st quarter now same good will give you like 41500@415 per dollar...that's all

Just read d poo of a comment u wrote...ppl lyk u re d ones killing dis economy wiv their balloney analyses and senseless explanations in order to justify Buhari's gross incompetence

Kindly conduct a survey regarding this & d big picture will come staring (if not punching) u in d face

princechiemekam:
I no trust this people!!! Maybe Buhari don warn d Oga say if him tell Nigerians the truth again na 2 sack am b d next option. ... Just read and pass oo

As long as it is not a negative news, I know you will not be happy

EMMAUGOH:


Finally I found someone that can read and understand..
Others above and below me u just failed the test..

As long as it is not negative news, you won't be happy I know that. If you had read the deficit increases and the volume of exports fall, I know you would have celebrated

EMMAUGOH:

hmmmm, Let me keep quiet before they say i am a wailer.... Those two statement above should not be disregarded.

You are right. The rise in export value isnt to be celebrated as the underlying cause is deterioration in local currency value. But...
1. This is the basis of a strong export culture. Local currency MUST be weaker for exports to be competitively priced
2. The missing figure is the increase in non oil exports. This is the only way we can assess current performance..but
3. If we use the increase in arable land as a measure and if we factor in the lead time to export crops; palm oil, rubber, gum, cotton, cashews etc, it is easy to say that the future of non oil exports is bright. I expect non oil exports to rise to value to 20% next year and to add 5% per year thereafter, topping out at 40% of non MINERAL value. I use the word mineral because I also expect a rise in gold, nickel and other minerals to contain the trend of non oil export figures.

The future is pretty bright if Nigerians continue to respond this way. I have 11 acres of oil palm and I am a lawyer.

That's the current reality. Service industry will keep shrinking as it isn't serving a growing real industry YET. So for all those looking for banking, telecom jobs, good luck.