Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele - Business (2) - Nairaland
Nairaland Forum / Nairaland / General / Business / Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele (8316 Views)
External Reserves Hit $38.7bn, Rise By 50% In One Year / CBN Rules Out Naira Fall As External Reserves Hit $34bn / Nigeria’s External Reserves Hit 3-year High At $33.112 Billion (2) (3) (4)
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by kay29000(m): 7:08am On Dec 06, 2017 |
"The Managing Director and the executive team of Unilever Nigeria visited me in Abuja and said they wanted us to grant them some form of forbearance. I said there was not going to be any forbearance, but that if he promised to re-establish the factory in Nigeria because as at that time their factory had been dismantled in Nigeria and taken to another country. “And he (Unilever managing director) made a promise that between 12 to 18 months the factory would be re-established in Nigeria. Based on that, we granted them some form of forbearance that made it easy for them to import margarine into Nigeria, but we kept monitoring them and we were discussing. “The entire essence is to say that by re-establishing that factory here in Nigeria, he has created direct jobs for Nigerians in this factory." I like this part. 2 Likes |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by Webman007: 7:09am On Dec 06, 2017 |
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| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by deco22(m): 7:10am On Dec 06, 2017 |
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| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by deco22(m): 7:10am On Dec 06, 2017 |
During Jonathan's time,our foreign reserves were topping 60 billion 1 Like |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by oluwasegun007(m): 7:10am On Dec 06, 2017 |
hmmmm....and unemployment is hitting how many years all time high... I don't like NAIJA economics because all this economic indices don't reflect on improved welfare.. 1 Like |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by Pesuzok(m): 7:10am On Dec 06, 2017 |
This is one of the achievements of this government. I give it to them 3 Likes |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by seunadebisi(m): 7:11am On Dec 06, 2017 |
that is good 1 Like |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by Quality20(m): 7:13am On Dec 06, 2017 |
PDP shd b eying d reserve by now. They won't mind stealing everything 2 Likes |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by GavelSlam: 7:15am On Dec 06, 2017 |
tiwiex: Why do Nigerians always cry about debt? Are We the only country indebted ? If our debt is amassed to provide the infrastructure (Electricity, roads, bridges, dams, irrigation, etc) we often scream is in deficit, why should we complain? 3 Likes 1 Share |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by Quality20(m): 7:16am On Dec 06, 2017 |
deco22:but Jonathan guys and women crashed n looted everything b4 losing power and had to start borrowing to pay salary 4 Likes |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by GavelSlam: 7:17am On Dec 06, 2017 |
deco22: That's what Obasanjo and Yar'adua saved. Jonathan wacked everything to 28 billion. 3 Likes |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by mrvitalis(m): 7:20am On Dec 06, 2017 |
tiwiex:Lol you really think reserve is money you can spend ? Lol and people like you would call Buhari illiterate Pick a book and read man 5 Likes 1 Share |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by Coldfeets: 7:26am On Dec 06, 2017 |
Nwodosis: External reserve is not meant to be spent... |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by deco22(m): 7:27am On Dec 06, 2017 |
GavelSlam:This was due to shortage of dollar and plunge in oil prices,Buhari made it seem like he was going to reverse it miraculously. PS: Jonathan had to spend to be able to get money back. |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by Coldfeets: 7:27am On Dec 06, 2017 |
Nwodosis: External reserve is not meant to be spent like that... 2 Likes |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by chloedogie(m): 7:30am On Dec 06, 2017 |
The rate of negativity in Nigeria is just alarming. Why would a good news like this still be generating this kind of heat here? We should just grow up and embrace peace, unity and growth in this country. Shikene. 5 Likes 1 Share |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by TheGoodJoe(m): 7:31am On Dec 06, 2017 |
deco22: Are you serious? Jonathan enjoyed a boom. Shortage in dollars was definitely not a problem during most his tenure. For comparisons, President Obasanjo met about $5 billion in foreign reserves, and the average monthly oil price for the 72 months he was in office was $38, and yet he left $43 billion in foreign reserves after paying $12 billion to write-off Nigeria’s external debt. In the last five years, the average monthly oil price has been over $100, and the quantity also higher but our foreign reserves have been declining and exchange rate depreciating. “My calculation is that if the economy was better managed, our foreign reserves should have been between $102 –$118 billion and exchange rate around N112 before the fall in oil prices. As of now, the reserves should be around $90 billion and exchange rate no higher than N125 per dollar,” Prof. Soludo said. http://www.premiumtimesng.com/news/headlines/175663-soludo-grades-jonathan-f-economy-says-administration-worst-ever.html 3 Likes 1 Share |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by GavelSlam: 7:31am On Dec 06, 2017 |
deco22: What plunge from 70 that he met it it grew as far as 140 then went back to 70 is that a plunge? Abeg park well. If we ask you to show us what he spent on you would start typing gibberish. 1 Like |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by Premiumwriter: 7:34am On Dec 06, 2017 |
That one is official news, the news on the street is quite different nothing has changed at all  |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by Teenaira: 7:37am On Dec 06, 2017 |
Teacher1776: I hope you are not thinking what I am thinking. Borrow money at an interest rate and keep it in reserve at zero interest rate. The economy is indeed down but not out. This government should try and work hard to get the economy running. External reserve growth is not a certification of the functionality of the economy. They should stop stifling life out of small scale investment and everybody will be a winner. What is done in developed economies is for government to do everything possible to support small scale investment who are the real employers of labour. Unilever was sometimes long time ago a small scale investment before becoming an international giant today. I am sure if it has not received the kind of support it has at infancy, there won't be anything like Unilever to be celebrated by our CBN governor today. 1 Like |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by deco22(m): 7:43am On Dec 06, 2017 |
GavelSlam:You seem to think Foreign reserves are spent on projects,lol,The value of the naira was declining in the reserve market during 2014 or so,and the CNN spent over 5 billion defending the naira... 1 Like |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by Mccullum: 7:46am On Dec 06, 2017 |
Nwodosis: Is only fools spending all it earned without saving and no nation in this planet adopted the unreasonable spending of money. 1 Like |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by deco22(m): 7:47am On Dec 06, 2017 |
TheGoodJoe:Obasanjo did not have to deal with the naira losing its value and falling oil prices,the economy was at its best during Obasanjo last years in office,so its understandable they saved so much money... |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by Nobody: 7:50am On Dec 06, 2017 |
I swear down...so many educated illiterates. Read and watch better channels, they won't! All they do is to rush to blogs and gossip threads! Sad really mrvitalis: |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by ibedun: 7:54am On Dec 06, 2017 |
tiwiex: The only way to slow the bleeding is to completely stop importation of goods and services, in other words starve Nigerians. Every policy move has s positive and negative effects but as a government you try to strike the right balance. 2 Likes |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by Mccullum: 7:54am On Dec 06, 2017 |
Teenaira: Do you have registered business, if so, go and learn how you'll get loans from FG, even though some state governments giving loan, I know Lagos and Oyo giving in last year, as my brother benefits from it. 2 Likes 1 Share |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by bigpicture001: 7:54am On Dec 06, 2017 |
it's not the doing of the govt at all.oil price surpassed the bench mark for the national budget that's all,and the excess in returned crested the increament in foreign reserve |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by GavelSlam: 8:05am On Dec 06, 2017 |
deco22: No be only CNN na FOX network you for talk. Your currency strength is proportional to your savings ( foreign reserves) and your debt ratio. The currency weakened because there was no buffer to support it. You cannot rewrite history. Jonathan inherited some respectable savings which he not only wiped out, he simply could not point to the benefit of doing so. In fact, since then we've discovered that his wife and many of his cronies became quite wealthy despite not having factories or industry. 1 Like |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by tiger28: 8:06am On Dec 06, 2017 |
kahal29:dont mind them pls.....i can see that most wailers are illiterates. Numbers dont make sense to them. 1 Like 1 Share |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by GavelSlam: 8:07am On Dec 06, 2017 |
deco22: Who is this one. If I can save when my income is 30 dollars what stops me from saving when it is 140 dollars. What manner of Nigerians are we breeding? |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by martineverest(m): 8:08am On Dec 06, 2017 |
Teacher1776:America is owning over $20 trillion 1 Like |
| Re: Nigeria’s External Reserves Hit Four Year High Of $38.2bn — Emefiele by GavelSlam: 8:10am On Dec 06, 2017 |
bigpicture001: And what happened during Jonathan's years? Was the price of oil below the benchmark? |
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