I think we should be grateful that Nigeria's case is not this bad.
Venezuela's foreign reserves down to only 10billion dollars!

Caracas is running out of cash.
Venezuela only has $10.5 billion in foreign reserves left, according to its most recent central bank data.
For rest of the year, Venezuela owes roughly $7.2 billion in outstanding debt payments.
In 2011, Venezuela had roughly $30 billion in reserves. In 2015, it had $20 billion. The trend can't persist much longer, but it's hard to know exactly when Venezuela will run completely out of cash.
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"The question is: Where is the floor?" says Siobhan Morden, head of Latin America fixed income strategy at Nomura Holdings. "If oil prices stagnate and foreign reserves reach zero, then the clock is going to start on a default."
venezuela reserves
According to the country's recently released 2016 financial report, about $7.7 billion of its remaining $10.5 billion of reserves is in gold. To make debt payments in the past year, Venezuela shipped gold to Switzerland.
The thinning reserves paint a scary financial picture as the country faces a humanitarian crisis sparked by an economic meltdown. Venezuelans are suffering massive food and medical shortages, as well as skyrocketing grocery prices.

http://money.cnn.com/2017/03/01/news/economy/venezuela-cash/index.html

So we should fry okro?



Devil is a liar

I thank God Almighty for grace to buy to buy this plot of Land.
Though very expensive and coupled with this recession.
Now, I dedicate this plot of land to my Fiancee for her supports over the years
Secondly, to all sales persons in the house that didn't meet their Feb target
Thirdly, to all Chelsea fan home and abroad
Lastly,to all Nairalanders

hmmm

So? APC and their stylish excuse

Damn

Now imagine this? Innocent looking girl robs a supermarket... and guess where she hid her stash?? Omo see gobe.



YOU CAN WATCH THE SHORT CLIP HERE...[/quote]

....

Poor management

Hmmmm

do they have a president

Shit

God safe ur pipo all over d world from poor economy

America wants to turn them to Zimbabwe because of their anti imperialist stance.

Nigeria getting there soon!

Dutch Disease

Pathetic

2black1:
I think we should be grateful that Nigeria's case is not this bad.
Venezuela's foreign reserves down to only 10billion dollars!
http://money.cnn.com/2017/03/01/news/economy/venezuela-cash/index.html

What manner of lowlessness is this, biko

They shd go and farm.

All hands to the plow.

Massively cut down dependence on food imports, and save foreign currency for essential and locally unavailable drugs.

off to Venezuela to buy the whole country

There is really a very big problem in Venezuela, before now I used them as reference to a failed country until Buhari came on board and plunged our economy to exactly what brought about Venezuela crisis today, the problem in Venezuela escalated the moment they central Bank blocked access to dollar and importation so their black market promulgate, a dollar sold 1000 Bolivars which the actual rate is less than 10 Bolivars in the central bank, they blocked importation and the country was stocked.. what will foreign investors do when they can no longer access dollar, import raw material? the simply left.. people got impoverished.. do you know that one dollar is now about 2000 Bolivars in Venezuela.. this is where Nigeria is heading if we do not remove this president and stop him now

Looters

nairalandfreak:
So? APC and their stylish excuse

Must everything be seen as an APC excuse nitori olorun? You see glaring fact presented to you but still can spew this rubbish.

When are you repenting?

ThankGod for them... I just pray that the phrase "use to have " won't be my portion and of nairalanders.

OP no dey compare Venezuela to Nigeria abeg. Oil reserves is all they have. Nigeria has a lot of potential...

Never compare yourself with failures

with oil selling at 150 dollars per barrel, our reserves under (You know who ) was already dwindling, when oil sold for 78dollars per barrel, we were already borrowing to pay workers salary..

but God saved us, even when oil fell to as low as 20dollars per barrel, before crossing to hover around 40-45, the govt of (you know who) was saving up, saving up everything to strengthen our foreign reserve.. everyone was crying, screaming, but the govt knew what a constantly falling foreign reserve meant, and continued saving. Today we have been able to strengthen our foreign reserve to well above 30bn, and now attention is now directed at the Foreign exchange market.

but some hate filled, bigoted individuals won't see, they keep on Celebrating (You know who) not minding revelations of how the admin was a (Come and steal as much as you can galore)
but we thank God, we made the right choice, because with the way the looting was going, our case would hv been worst than that of Venezuela....we would have been auctioned on e-bay for 20dollars by now.

handiwork of bush and obama.....really bad

Nigeria and their paper successes.

Even If we have $1 million trillion in our reserves, govt will still be emphasizing their commitment and dedication to improve the life of the Nigerian, that never seems to improve.


By the way, make them do deportation for there now, you go see say hundreds of Nigerians dey that country.

martineverest:
handiwork of bush and obama.....really bad

typical dumb African mentality, always looking for whom to blame.
When people were looting as much as possible there, they didn't blame anyone, they probably were enjoying the "Bring the money let us enjoy" way of things...same as typified here in Nigeria.

when dasuki looted billions meant for war on BH, and shared it for all and sundry, we were busy enjoying....but when the rate of killing skyrocketed, we started blaming the US for not selling is weapons, as if Other countries were not there.
Ask any of the dumb asses why Book Haram festered that long, and they will tell you... "Is it not because Obama did not sell us weapons ? as if it is a taboo for us to produce our own, or buy from other people..
our own dumbness is so sooo outrageous.

nairaman66:
Nigeria getting there soon!

Like a yoruba adage says "orun yabo ki se oro enikan" continue to wish the country bad, we will all benefit from it when it finally happens.

Last card things