This means the current account in our balance of payments is in the Red.

But maybe it's not that bad since "Imports by SITC revealed that machinery & transport equipment accounted for N2.492.73bn." Importing machinery and transport equipment means you're importing to develop. More context is needed, certainly.

Sometimes reading naija news wants to make me throw up nothing good nor anything of improvement, just things getting worse. I pray God rescue this country because men this people have done more harm than good.

Such a huge deficit just in Q1, what will be the fate of Nigerias economy in Q2, Q3 and Q4?

Zimbabwe economic situation loading ......

Aboki President

Hmmmnnn

Once the dangote refiner is up and running at least well get enough dollars from sales of associated products from refined crude.

But the real deal is the manufacturing sectors. We can not continue importing everything we need.

Lets go the Chinese way.

ok ooo

Distress sales: I have a plot of land for sale at a very good price. The land is located at New home layout Umuchugbo Abakpa Nike, Enugu. It goes for 3m naira.

All documents are ready. I am in need of money to offset a bill. Interested buyer can contact me on 08030616695. You can also chat me up on WhatsApp.

Thanks...

Truth be told, the economy of Nigeria is in shambles under the able leadership of president Muhammadu buhari.... very very terrible...

Ok

I had to Google the meaning of trade deficit to realize that this is not a good thing.
Nawa

Okay let's see what 2nd Quarters brings

chiedu7:
My problem is that they borrow the money to spend in Niger Republic,
leaving the South with the debts.

They don't do it all alone. They do it with the help of some southerners from East, West and the South-South. If they were alone, they wouldn't be this successful. Our greatest enemies are our own people who are working tenaciously for them despite their mistreatment of Nigerians.

Beancounter93:
We will keep on recording trade deficits so long as we are an oil dependent, over importing nation.

That's why we need to change, from just relying on oil to relying on industrial growth and development.

The oil is not enough for all of us. Time we used something more valuable...our brains...regardless of the tribe. Time we set up manufacturing industries, and not businesses selling imported goods.

but this annoying government has consistently lied that we are no longer dependent on oil..that infact oil accounts for a lesser percentage of the country's revenue...lies..

*Twitter Ban: Evading the Law of Unintended Consequences with Systems Thinking* 

I woke up this morning to see that Twitter was trending with multiple terms related to the state of affairs in Nigeria. 

I found this rather odd and here's why. 

I use Twitter more as a listening tool, to keep my finger on the pulse of things. 

One look at the trending topics, and you could have a summary of current affairs for the day.

When I left Nigeria last year, I updated my location on the Twitter app to ‘United States’ as I now wished to be updated on current affairs in the US.

Consequently, whenever something significant happened in Nigeria, I learned of it rather late and typically by word of mouth because I could only see US trends. 

And so when I woke up this morning to multiple Nigerian terms on the trending section, I thought the app was experiencing a glitch, showing me trending topics in my former location, Nigeria.

After a few seconds, I laughed as I realised what the real situation was. There was no glitch after all.

Here’s the breakdown of what happened. 

Whenever something tragic or contentious occurred in Nigeria, the citizens would tweet about it, and the topic would trend - TO NIGERIANS.

This meant that even though the complaints and agitations of the citizens were being posted to the public social media platform, the issues seldom ever registered as the trending topics of other countries.

However, there was a twist here which leads us to the Law of Unintended Consequences.

The Nigerian Government banned twitter and this led the mammoth Nigerian youth population to download VPNs to bypass the ban.

On most VPNs, the United States is the default or preferred location.

And so millions of Nigerians who would normally tweet and register their discontent as the trending topics of Nigeria, were now registering the issues on the trend list of the United States. 

Americans woke up today confused by terms such as ‘IPOB’, ‘Buhari’ and ‘Malami’.

If the Nigerian government had not banned Twitter, the displeasure of Nigerians would have been localised.

In the wake of the ban, the displeasure of Nigerians was being broadcast to the center of the world through VPNs, creating global awareness for a matter that would have otherwise remained local.

Most Nigerian VPN users didn’t plan for this effect. It was just an unintended consequence of using VPNs, albeit a welcome one. 

Another unintended consequence here is that Nigerians may have now learned how to ensure that topics of agitation are registered on the trends lists of the United States - by mobilizing Nigerians to tweet via VPNs with the US as their virtual location.

The Law of Unintended Consequences can be avoided by utilizing a thinking tool called Second Order Thinking. 

Second Order Thinking posits that there is more than meets the eye when solving problems, and that by solving one problem, we may inadvertently create another problem. 

We must therefore rigorously apply Second Order Thinking and even third order thinking in order to arrive at an ecological solution. 

I’ll explain this using another lesson from history. 

Back when the British ruled India, they faced a problem with a rising population of venomous cobras in Delhi.

To solve this problem, the British colonialists launched a bounty program, offering a cash prize for every cobra that was killed.

All the residents had to do, was to kill a cobra and present its body to the British government and claim the reward.

However, the business-minded Indians devised a plan to ‘optimise’ their rewards - they would breed cobras privately, kill them, present the dead cobras to the British and collect the cash reward.

The British were initially delighted to see that cobras were being killed in large numbers.

On the surface, the bounty program appeared to be a raving success - 1ST ORDER THINKING.

The British soon found out about the breeding operations and terminated the bounty program - 2ND ORDER EFFECTS.

This now meant that the Indian snake breeders were left with many snakes that could not be sold, and so they set them all free.

There were now more cobras all over Delhi after the bounty program than when it was first started - 3RD ORDER EFFECTS. 

What does this mean for you? 

As with the stories of the Twitter ban and the British bounty program, we must seek to solve problems by seeing the whole landscape rather than what is readily apparent.

We must consider not only the First Order Effects of our decisions, but also their Second and even Third Order Effects. 

This overarching strategy is called SYSTEMS THINKING, and Second Order thinking is just one component of it.

Let’s look at another hypothetical application of this powerful thinking tool. 

Say you were the Founder/CEO of a Billion Dollar corporation and one of your founding executives was found to be engaged in fraudulent activity. 

What would you do?

Well, a First Order approach to this problem would be to simply fire this individual.

Second Order thinking would examine any potential consequences of dismissing this person.

On further investigation, you may then realize that this person may choose to express their disgruntlement by joining a competing organization and use company secrets to strengthen your opposition.

Of course you could go to court, but your lawyers graduated from Harvard Law and would charge millions of dollars to duel with your adversary over the coming months and years.

Considering the cost of the Second Order effects of a straight dismissal, you may wish to act ignorant of the act of fraud and do something else instead.

Create a small office in a far away country which is inconsequential to overall brand image and profitability.

Puff up his ego by offering him the role of Country Manager or ‘General Manager - Diaspora Relations’.

This fraudster would feel valued and stay on your side, while being tactically stripped of the ability to continually perpetrate fraud.

You solved the First Order problem of fraud, canceled out the chances of future fraud and potentially saved the company millions of dollars in legal fees.

This strategy is used at the highest levels of power - across politics, the mafia, business and even organized religion.

Read this a couple of times over and make your notes on how this can offer solutions past and future obstacles in your life.

As Solomon famously wrote, 
"For wisdom is a defence, and money is a defence: but the excellency of knowledge is, that wisdom giveth life to them that have it."

Its well . Nigeria shall be Great again .

[quote author=DamnnNiggarr post=102483442]FG recorded N3.94tn trade deficit in Q1



https://punchng.com/fg-recorded-n3-94tn-trade-deficit-in-q1/?utm_term=Autofeed&utm_medium=Social&utm_source=Twitter&amp[/quote

I don't understand
Where dem dey put this money self?

Trade deficit is the difference between the total goods imported minus total goods exported.

The deficit is the reason Naira is depreciating continuously. N4trn in 1st quarter.

Most Nigerians think crude oil is a very big component in Nigeria, it's just the highest foreign exchange earner. Total export N2.91trn, Crude oil export N1.93trn.

Without FDIs don't expect Nigeria's economy to revive.

Beancounter93:
We will keep on recording trade deficits so long as we are an oil dependent, over importing nation.

That's why we need to change, from just relying on oil to relying on industrial growth and development.

The oil is not enough for all of us. Time we used something more valuable...our brains...regardless of the tribe. Time we set up manufacturing industries, and not businesses selling imported goods.

Starting is not the problem
Many have started things.
The economic policies of this govt is the problem
They make knee jerk decisions and u expect the economy to grow
This last one buhari even acted like a woman
You know when a woman is quarrelling with her neighbors
She expects everyone in the house not to talk to that neighbor
That's what buhari did with Twitter

AlhajiBitcoin:
Trade deficit is the difference between the total goods imported minus total goods exported.

The deficit is the reason Naira is depreciating continuously.

Most Nigerians think crude oil is a very big component in Nigeria, it's just the highest foreign exchange earner. It's not a big deal.

Without FDIs don't expect Nigeria's economy to revive.

You are quite right about the depreciation. But trade balance = export - import.

Beancounter93:
We will keep on recording trade deficits so long as we are an oil dependent, over importing nation.

That's why we need to change, from just relying on oil to relying on industrial growth and development.

The oil is not enough for all of us. Time we used something more valuable...our brains...regardless of the tribe. Time we set up manufacturing industries, and not businesses selling imported goods.

If government is serious about local production,they should first start refining crude oil locally.How can the government be seeking foreign investment to come and invest in Nigeria when they export crude oil to be refine in foreign countries and import back to Nigeria again?

chiedu7:
My problem is that they borrow the money to spend in Niger Republic,
leaving the South with the debts.

Their only innovation at raising income is borrowing. Yet to maintain a friendly relationship with investors or build confidence through the media, they cannot.

Imagine N4trn deficit, 1st quarter. Heading towards N16trn deficit at year end.

henryadex:
There's no clueless government that would ever be in profit, let them have all the resources

Shebi wise voters asked them in 2015 ? Has Buhary managed any business before ?

Mazdys:
Please how much is a dollar to Naira now.
I want to buy something in USD

Anyway, please I will Design a Professional Logo or Letterhead for your Product or Company for 2k Only
Whats'App/Call: 0704. 477. 6507

Dollar is 480 thereabout in the black market, I really don't know what the bank price is cause I saw 418 in Access bank and I asked if it was legit, they said yes

Joysticks:
If government is serious about local production,they should first start refining crude oil locally.How can the government be seeking foreign investment to come and invest in Nigeria when they export crude oil to be refine in foreign countries and import back to Nigeria again?

Refining crude locally can only work if the government also does not control the price of the fuel being sold...which in turn would attract foreign investment.

But my comment goes beyond the oil industry.

DuBLINGreenb:
Mumu fg

I didn't get the opportunity to rant on TB Joshuas call to glory so allow me to use this opportunity and air my opinion.

As I have posited severally here before
Whether you are good or bad you will die
Dying young doesn't mean you are bad
Living long doesn't mean you are good
Dying can mean different things to different people
It is not necessarily punishment for sin or reward for success

For Christians ask yourself how old was Jesus Christ
When he died? 33 years old does it mean he was fake and god was punishing him by killing him because he was fake?
A man who raised the dead, healed the sick did he live on earth forever?
He lived only 33 years out of which he only spent the last 3 years in active service for god

People like you then would have said no this can't be Jesus why didn't he live till 90 years? Lol, god done punish am see him false prophet na Wetin make god kill am.

I have looked at the life of TB Joshua and everything the Pharisees and scribes said about Jesus is the same thing CAN and PFN said about Joshua

PFN, CAN said TB Joshua used demons to cast out demons; Jesus in Matthew 12:24 was accused of the EXACT same thing, what was jesus' reply to this?
Can belzeebub cast out belzeebub?

They said he had no mentor, but when you have Jesus as a Christian what other mentor do you need?

As a man of God instead of you to backslide or fall God will call you, he will not allow you stay longer than necessary.

As one of those who was blessed to be in the Synagogue Church of All nations during the lifetime of Prophet TB Joshua, I will say he was a blessing I saw testimonies first hand a male nurse who came from Ghana stayed in the room opposite mine, we discussed during lunch the day to service day, after he was prayed for the next day during service thing he came for he received a phone call and got positive news, he went back to the hostel packed the little things he came with and left that same day very excited, the man is now living a good life in Ghana someone who was struggling to survive feeding hand to mouth, that was just one of very many miracles and testimonies I saw for myself while in the church, not the ones on Emmanuel TV oh.

So you guys can say whatever you want, all what many have said is all speculations and hear says, you just can't bring yourself to believing someone can do what your pastor cannot do, someone can do what you cannot do.

You forget that grace has different levels, you forget that some are called to dream dreams others are called to caste out demons, others are called just to preach and more rarely some are called who poses all those gifts, people who don't have to read from paper, laptop or book to preach, people with direct contact to the most high, that's an extra ordinary gift your CAN and PFN is not used to, is not set up for.

Jesus never said miracles will not happen again, Jesus never said healing will not happen again, he said in John 14:12 GREATER THINGS THAN THESE SHALL YOU DO.
but your pastor cannot do what Jesus did talk less of GREATER THINGS THAN JESUS DID.

So that is why your pastor is discouraging you from going to TB Joshua because he knows if you go you may not come back to his church, redeemed used to tell us not to go to tb Joshua church I was a redeemed member my mum many many years ago went to give testimony during the testimony she mentioned she went to TB Joshuas church and after prayer what my dad had been looking for, for many years was just answered like that they dragged the mic out of her hand and told her not to ever mention TB Joshua in that church again. Then we didn't know how much Redeemed hated TB Joshua

years later a redeemed pastor had an incurable sickness he went to TB Joshua and was healed but kicked out of the church we were like wtf so he should have remained with the sickness when he knew his healing is here so we left Redeemed let them keep planting 2 churches on every street I used to go to camp, go-a-fishing(every year your branch has to "plant" a new branch) that's how redeem has many many churches everywhere, I went on evangelism and all that with redeemed so It was heart breaking but I learnt the hard way, those people aren't there for us but for themselves they simply wanted to use us to start more branches unlike SCOAN. where TB Joshua was for us and not himself even when his ushers were rude to people he would shout on them "Allow them", "leave them" he allowed those under him to go and start new churches entirely as in no need to send back returns or percentage to him but in redeem you send back over 60% of what the branch makes to the headquarters.


TB Joshua always said "if you have a church after your healing you can go back to that church"
He said "come to prayer line with medical report"
He said "doctor treats god heals, we are not hear to replace doctors but to compliment them"

One time he gave a man who had fell on hard times cash gift and the man went to his church and paid tithe TB Joshua said why will that pastor accept tithe from a man like this instead of the pastor to help the man he told the man he will give him back the money he gave as tithe and the man should not stop attending the church

Another elderly woman TB Joshua gave cash gift put part of the money in tithe in TB Joshuas church he called the woman and asked her what she did, she said she put tithe he gave her back the money and more

He was never in competition with your men of God, did you ever see him advertise anywhere?w he was not dragging members with anybody, opening branches in every street, na we dey find am go ikotun. Several times when I was there I met people from all over the world even countries you never heard of people who couldn't even speak English where there, Even crusades were not advertised on bill boards, radio, newspapers etc but the stadiums were always packed. In Singapore, in Mexico, in Israel, anywhere.

Nigeria and Nigerians do not know what they have lost.
6 out of every 10 foreigners in Nigeria used to come because of TB Joshua.
Many people were kept off the streets and out of poverty thanks to TB Joshua
its not now we will feel it but in future, and don't worry TB Joshua raised successors, a successful success is one with a successor.

Wise man Racine - from france
Wise man Harry - from Greece
Wise man Christopher orji - Nigeria
Wise man Daniel - Nigeria
Wise man John chi - Cameroon or Nigeria
And many others like W. Magaya Tanzania
Emmanuel aka Saviour kal el - Nigeria
Many especially from east and southern Africa I don't know their names well enough

Let's hope God brings one of them to the branch in Lagos.
If it were up to me I'd want wiseman Harry but man proposes God disposes.

Emmanuel... God with us.

So you mean non of his family member will succeed him?

what do you expect from a monoproduct economy like Nigeria that largely depend on crude oil export.

The north is not ready to use their vast land to develop modernised agriculture that will not only feed Nigerians but have reserve for food export to other countries.

The fulani herdsmen and farmers crisis is also a contributing factor to the trade deficit.

tplayer:


You are quite right about the depreciation. But trade balance = export - import.

Yes, Export - Import = (Trade surplus +ve figure) or (Trade deficit -ve figure)