Although this was 2 years ago. The Almighty America instead of keeping money with the government would rather have it spread to the citizenry for optimum usage. Nigerian leaders develop us instead of saving and making a mountain out of it. Human development is the only way. Anything else na wash!

Proof*

Sorry...here is the update.

Armchair economists everywhere; if the governmment doesn't build-up reserves, the country's economy will collapse from forex shortage during periods of recession(this is exactly what is happening right now).

EVarn:
Armchair economists everywhere; if the governmment doesn't build-up reserves, the country's economy will collapse from forex shortage during periods of recession(this is exactly what is happening right now).

Abeg leave that OP that doesn't understand what the economy is all about, still trying to pass his UTME 4th attempt.
Imagine comparing the US that can print its dollars and can even spread inflation all over the world unlike Nigeria that must buy those dollars and pay for her imports

Yyeske:
Abeg leave that OP that doesn't understand what the economy is all about, still trying to pass his UTME 4th attempt.
Imagine comparing the US that can print its dollars and can even spread inflation all over the world unlike Nigeria that must buy those dollars and pay for her imports

[center][/center]

EVarn:
Armchair economists everywhere; if the governmment doesn't build-up reserves, the country's economy will collapse from forex shortage during periods of recession(this is exactly what is happening right now).

Can you imagine you who are not armchair economists o. Tell me what reserves China built during the 80s revolution o.

I insist the best way to successfully build an economy is to focus on human capital. What the post seeks pass across is that we don't need these stupid noise on foreign reserves. Invest the money in the people (technology, science, agricultural),/researches and see our reliance of foreign goods disappear hence better economy. Not bogus numbers of harvesting 17m tons of rice or claiming Thailand has shut all it's rice mills.

Quoting Bill Gates "Dangote told me he didn't become rich by selling sugar he doesn't have"

Imagine how many tractors do we have per hectare in Nigeria? Till date we can't fix Ajaokuta steel or finance to build a new steel plant yet we are saving forex.