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Nigeria’s External Reserves Hit 3-year High At $33.112 Billion - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Nigeria’s External Reserves Hit 3-year High At $33.112 Billion (12291 Views)

External Reserves Hit $38.7bn, Rise By 50% In One Year / Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele / CBN Rules Out Naira Fall As External Reserves Hit $34bn (2) (3) (4)

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Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by Nobody: 4:16pm On Oct 18, 2017
You that you reading this comment sef like amebo and gossip.
After reading everything on the first page.
You still come here for more.
You no get work

1 Like

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by seguno2: 4:16pm On Oct 18, 2017
Clerverly:
May God Continue To Bless President Buhari!

By the time his Tenure elapses in 2023, Nigeria Will Have Been Placed In The Rightful Position Among The Comity Of Nations...

What stupid father keeps money in the bank reserves instead of sending his children to school?
An illiterate?

A vision-less leader who has never earned any money for himself beyond salaries and pensions plus stolen money?
Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by Praktikals(m): 4:18pm On Oct 18, 2017
Clerverly:
May God Continue To Bless President Buhari!

By the time his Tenure elapses in 2023, Nigeria Will Have Been Placed In The Rightful Position Among The Comity Of Nations...
May the good lord give sound health to our president.

4 Likes 2 Shares

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by dustydee: 4:18pm On Oct 18, 2017
How come, with low oil prices? shocked

1 Like 1 Share

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by barinedan(m): 4:19pm On Oct 18, 2017
Then why is bubu and his criminal gang looking for where to borrow money from?

2 Likes 1 Share

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by SalamRushdie: 4:20pm On Oct 18, 2017
Definitely cooked up figures from a lying govt ,

3 Likes

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by erico2k2(m): 4:21pm On Oct 18, 2017
Clerverly:
This is the same Foreign reserve ex president Jonathan met at 56Billion Dollars....but with of help Deziani, Dasuki, FFK, Wike and other corrupt economic terrorists, they shared more than Half of the common Patrimony...only handed less than 22Billion Dollars To Buhari.
How old was you when the governors shared the money least I 4get what did you own state governor do with his share . ?

2 Likes 2 Shares

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by bejeria101(m): 4:21pm On Oct 18, 2017
Dead pple dont spend money!

1 Like

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by felixomor: 4:22pm On Oct 18, 2017
barinedan:
Then why is bubu and his criminal gang looking for where to borrow money from?
Exactly
The same question I am asking.

1 Like

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by seguno2: 4:22pm On Oct 18, 2017
Clerverly:
This is the same Foreign reserve ex president Jonathan met at 56Billion Dollars....but with of help Deziani, Dasuki, FFK, Wike and other corrupt economic terrorists, they shared more than Half of the common Patrimony...only handed less than 22Billion Dollars To Buhari.

Did Jonathan not raise minimum wage to N18,000 from N7,500?
Did he not ensure fuel without scarcity and pay subsidy that Buhari has cancelled?

Did he not sustain exchange rate at N200, which Buhari said was unacceptable and promised N1? What is the exchange rate today?
Think before you talk bro.
Please think.

2 Likes

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by seguno2: 4:26pm On Oct 18, 2017
aolawale025:
When the missing 25b dollars is factored in. Plus some other missing funds here and there, the reserves ought to be approaching 100b dollars. But no. Too many crooks dipping in the cookie jar

Starting with the grand crook criminal in Aso Rock who keeps buying the silence of his smaller crook governors with bailout upon bailout funds plus Paris Club refunds yet they are not paying salaries and pensions but no one is arrested.
Buhari is a thief and a failure.

1 Like

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by kingsmaila(m): 4:26pm On Oct 18, 2017
Let Nigerians feel the positive impact of the reserve. Not all these publications with no positive correlation on the standard of living of the Nigerians.

2 Likes

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by EvilMetahuman: 4:32pm On Oct 18, 2017
sweetkev:
Mark Zuckerberg is richer than Nigeria and still maintain a low profile but Nigeria as a country will keep bragging as giant of Africa with nothing to show since independent. SHAME...SHAME...SHAME
you mean zuckerberg has close to 500billion dollars? :O
Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by seguno2: 4:33pm On Oct 18, 2017
Keneking:
Jonathan really tried to manage our reserves grin

If you now add Baru's $25bln ..then we reach $58bln technically shocked shocked shocked

True that.
Everything about the Buhari administration is technical. Never the real thing. Technical equals LIES.
Big fat lies.
Technically defeated Boko Haram since December 2015!

Technically lowered inflation.
Even this fake news of higher reserves is another technical propaganda story.
Believe at your own risk and peril.

2 Likes

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by Jboy5050(m): 4:33pm On Oct 18, 2017
They will say Davido have 30 billion dollars when a country's external reserve is 33 billion dollars, if i hear say davido get 30 billion dollars,he is a liar...
Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by sanpipita(m): 4:34pm On Oct 18, 2017
People who never see food chop are hailing external reserves that amounts to nothing, we can't fund projects anymore, world bank is warning us not to borrow again and we want to celebrate external reserves, I pity some of you

2 Likes 1 Share

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by godwinony(m): 4:35pm On Oct 18, 2017
Money that can up and disappear anytime and no one will bat an eyelid. cry
Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by sanpipita(m): 4:36pm On Oct 18, 2017
seguno2:


Did Jonathan not raise minimum wage to N18,000 from N7,500?
Did he not ensure fuel without scarcity and pay subsidy that Buhari has cancelled?

Did he not sustain exchange rate at N200, which Buhari said was unacceptable and promised N1? What is the exchange rate today?
Think before you talk bro.
Please think.

Forget ppl who want to justify failure, I read hope they get paid for what they write here if not they are irremediably foolish

3 Likes 1 Share

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by EvilMetahuman: 4:37pm On Oct 18, 2017
Who cares?
Dollar is still 370
Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by cooltola(m): 4:38pm On Oct 18, 2017
All these anti Nigeria need to stop. Yes we have corruption, bad leadership and so on but Nigeria is still a young nation that has potential. The Unity cant be stopped because too much blood have been sacrifice and too much at stake to lose. The problem with Nigeria is that we are too many and everyone want a piece of the wealth. No one want to be a lesser man and it basically every man for the themselves. Until we learn to tackle corruption by the horn, then things will improve.

1 Like 1 Share

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by valentineuwakwe(m): 4:47pm On Oct 18, 2017
then why do we want to still borrow.? let the high figure translate to our economictransformation for the common man
Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by handsomeyinka(m): 4:50pm On Oct 18, 2017
Keneking:
Jonathan really tried to manage our reserves grin

If you now add Baru's $25bln ..then we reach $58bln technically shocked shocked shocked

If na play,make you stop am ooo...The only thing Jonathan did in this country was to declare himself as the most clueless president in the history of Nigeria.

1 Like

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by jomoh: 4:51pm On Oct 18, 2017
felixomor:
Then why do we want to borrow?


Because external reserve is not meant to be spent. it is a collateral that the creditors see that your country has the capacity to payback it's loan. The higher your external reserve, the higher the amount creditors will be willing to loan you for your deveopment.

Most people don't understand this. Even my chatered accountant friend shamelessly asked this same question.

The joyful thing about this government is that unlike the previous governments we've had in this country who borrow to fund recurrent expenditures like salaries, this government is borrowing to fund capital expenditures. An example is the Sukuk bond that was handed over to Fasola to constrict roads.

4 Likes 1 Share

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by Erifenz: 4:52pm On Oct 18, 2017
Story story I will only believe when I see all the federal roads in good condition

2 Likes 1 Share

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by felixomor: 4:57pm On Oct 18, 2017
jomoh:



Because external reserve is not meant to be spent. it is a collateral that the creditors see that your country has the capacity to payback it's loan. The higher your external reserve, the higher the amount creditors will be willing to loan you for your deveopment.

Most people don't understand this. Even my chatered accountant friend shamelessly asked this same question.

The joyful thing about this government is that unlike the previous governments we've had in this country who borrow to fund recurrent expenditures like salaries, this government is borrowing to fund capital expenditures. An example is the Sukuk bond that was handed over to Fasola to constrict roads.

Should I mention the past presidents who increased both external reserves and cleared debt at the same time?

2 Likes 1 Share

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by jomoh: 5:02pm On Oct 18, 2017
seguno2:


Did Jonathan not raise minimum wage to N18,000 from N7,500?
Did he not ensure fuel without scarcity and pay subsidy that Buhari has cancelled?

Did he not sustain exchange rate at N200, which Buhari said was unacceptable and promised N1? What is the exchange rate today?
Think before you talk bro.
Please think.

Yes he did all that with the cosmetic growth Nigeria had with oil price averaging $110 per barrel and when the cosmetic make up was cleaned and the oil price started dwindling, we started paying for it.

He started borrowing to pay salary.
Fuel scarcity returned towards the end of his tenure.
The was no enough external reserve to defend the Naira. So Naira started it's inevitable steady decline until the new government was able to get a foothold.

Now the Naira has been stable for close 6months
Inflation rate has been stable for close to 6months.
External reserve is growing.
Investors confidence is growing resulting the the oversubscription of the Sukuk bond.
The economy even recorded growth in the second quarter according to IMF.


these are the real economic indices that people should look at instead of the politics around.

3 Likes 1 Share

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by juman(m): 5:03pm On Oct 18, 2017
Senseless apc government.

They run government to feed their families only.

2 Likes

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by juman(m): 5:05pm On Oct 18, 2017
Erifenz:
Story story I will only believe when I see all the federal roads in good condition

They dont know how to fix those.
Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by 1121: 5:12pm On Oct 18, 2017
Why is buhari seeking for $5.5 loan when we have external reserve of $33b? Why can't he pick from the reserve to meet his needs?

1 Like

Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by Nobody: 5:12pm On Oct 18, 2017
[color=#990000][/color]Nnamdi kanu see what u have done.
Re: Nigeria’s External Reserves Hit 3-year High At $33.112 Billion by kode12: 5:13pm On Oct 18, 2017
I have no knowledge of national finance or economics but to me, rising external reserves would be of little good, if our debt profile keeps increasing at such an alarming rate as it is, with such borrowed funds yielding no visible or tangible results in the economy

1 Like 1 Share

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