Nigerians have spent more money on education and health care outside of Nigeria than in Nigeria. More so, these monies spent is higher than the FGs budget allocation for education and health care.

This says a whole lot. If our hospitals and schools are fixed to standard Nigeria would have saved and trapped these FX in country, thereby making the naira a healthy currency.

adenigga:



Source: https://punchng.com/Nigerians-spent-$98bn-on-foreign-trips-education-in-10-years-CBN

how much did politicians used to promote their money laundering operations?

Nonsense........

Buhari and his Clueless Fulani / Hausa brothers have finished Nigeria from 2015-2022

Now is the turn of Tinubu and his clueless Yoruba Muslim ) Christian brothers to finish Nigeria to the last from 2023- ( when epin pawa finish them all)

It is the turn of Yorubas to bury the remains of Nigeria , and this time, this is not the Yoruba Character of Obasanjo but the core Propaganda Nation ....

Pls finish Nigeria abeg .......

What about the dolars remitted back to the economy by the Nigerians in Diaspora which runs into billions of dollars yearly? We have demons in power.

But I'm sure 80-90% of that money will be spent by politicians looting the country

Whose Fault ?

Hezzyluv:
85-90% of the money spent is from the politicians.

not in d last 5 yrs bro.... I'm sure majority of d money is spent on education abroad.... From 2019 if u knw d amount of Nigerians dat have left d country ehn...

adonainana:
Cardoso said, “In 1980, our import expenditure stood at $16.65bn, while our exports amounted to $25.97bn, resulting in a surplus of $9.32bn. Thus, during that year, we managed to fulfil the demand for dollars from our existing supply and still had over $9bn in surplus. In such a situation, the exchange rate (the value of the US Dollar) would not increase because, similar to any commodity, its supply surpassed its demand.

This was probably JUST BEFORE NIGERIA DISCOVERED OIL and it’s wahala started

I have said it again and again on this platform

DIVERSIFY THE ECONOMY

DIVERSIFY THE ECONOMY

CRUDE OIL IS A BLESSING A CURSE

THE CURSE IS MUCH MORE BRUTAL THAN THE BLESSING

I have said it here many many times on nairaland what Nigeria must do https://www.nairaland.com/7989133/naira-rebounds-banks-offload-excess/4#128260034



Convert all NYSC CAMPS into cash crops processing mega centres

Instead of corpers shouting corper wee wee up and down employ them to run these mega farms and produce Made in Nigeria cash crops

DO you know much land Nigeria has in the south

Till today I have never seen a crop in my life THAT CANNOT GROW IN NIGERIA.

Made in Nigeria bananas
Made in Nigeria mangoes
Made in Nigeria pineapples

Made in Nigeria cocoa

Even if it’s just one made in Nigeria something that is flooded European markets with

Then that’s all you need TO MAKE THE DOLLAR almost as strong as the naira .

The first paragraph just told you there was a time in Nigeria in 1980 where naira was stronger than dollar and that time Nigeria exported more than it imported and thus the favourable balance of trade even made it have 9 billion dollars extra

THIS IS NOT SOME ECONOMIC THEORY OR SOME TRIAL AND ERROR

DIVERSIFY THIS ECONOMY FOR GODS SAKE

LEAVE CRUDE OIL ALONE , humans eat and humans eat most crops , even cocoa that cannot be eaten directly
It is needed for making chocolates coffee

THE NIGERIAN EXPORT SHOULD BE MERGED INTO NYSC , and nysc camps should be converted to these mega farms and tons and tons of crops should be processed to be shipped out

FG should go to European countries and lobby each country to buy even if it’s made in Nigeria bananas, that are being processed and prepared in advance from the NYSC camps .

Any embassy or country that doesn’t want these MADE IN NIGERIA products should be closed down

Any country that doesn’t mind buying Nigerian oil but when it comes to made in Nigeria products it’s reluctant is an enemy of Nigeria .

This is the only way NIGERIA CAN escape poverty

PLEASE IF ANYONE CAN READ THIS

PLS I BEG YOU IN THE NAME OF GOD I AM FROM THE FUTURE . NIGERIA BECAME WORSE THAN WHAT IT CURRENTLY IS RIGHT NOW

NIGERIA pls diversify this company all oil licenses of any oil company should be revoked and tax free concessions given to AGRICULTURAL companies

Nigeria please leave crude oil alone

Sunshine is free
Rainfall is free
Photosynthesis is free

These are the 3 things you need to grow any cash crop in the whole world and feed the whole world if you are serious with it

YOU CAN SELL ANYTHING TO EARN FOREX IN THE INTERNATIONAL MARKET , it’s not only refined oil you sell there

Please convert all Nysc camps into these mega farms and start churning out tons of materials to earn good money outside

NIGERIA PLS LEAVE CRUDE OIL ALONE

THE UK import bananas all the way from Panama and South Africa

Please which country is closer to the uk.

How big is Panama and how much land does South Africa that tescos stores in the uk import all the way down South Africa for bananas

Why can’t there be made in Nigeria bananas

Why this oil curse for Gods sake

How much green land do we have in the south of Nigeria that bananas fresh good ones can’t be planted to be exported in tons

Convert all nysc camps to farms now , double allawee to corpers that want to work leave the ones who don’t want to go and be looking for thier oil corporate jobs

After converting the nysc camps into mega farms Merge nysc and the Nigerian export council and EXPORT all your wahala and earn cool forex

Find a country and export good fresh foods to this country

No one can tell me this is impossible
If elections materials can get to every nook and cranny of this country

You can’t tell me state sponsored Mega farms are impossible

ALL THE TRILLIONS SAVED FROM FUEL SUBSIDY. Invest it in agriculture and become a sole supplier of foreign countries different types of food

Tomatoes
Peepers
Cashews
Bananas
Carrots

Do you know how much crops you can grow for free and make FREE DOLLARS FOR free

Who told these guys oil is the only thing you can sell

Once again scroll back up and check the first paragraph soemthing used to happen to Nigeria before 1980

After 1980 it got carried away and chased something which is crude oil

And 50 years later Nigeria life has never remained the same

Please diversify this economy now

Besides carrots takes 3 months to grow
Cucumbers etc

There are some crops that if Nigerian becomes a sole exporter to selected foreign countries growing them would be light work

Infact self nnpc should be forced to buy shares in this new mega farms

Leave oil alone

jst pay people to go to farms first.... Nysc camps are 2 small to be converted to farmlands.... We've got a lot of uncultivated lands in Nigeria..... We need a farming zone in Nigeria.... D middle belt can be used for that.... Let their whole economy be based on farming.... Then d government must be ready to employ and pay farmers in dat region, like they pay civil servants....

Judolisco:
jst pay people to go to farms first.... Nysc camps are 2 small to be converted to farmlands.... We've got a lot of uncultivated lands in Nigeria..... We need a farming zone in Nigeria.... D middle belt can be used for that.... Let their whole economy be based on farming.... Then d government must be ready to employ and pay farmers in dat region, like they pay civil servants....

Nysc camps are not too small to be converted to mega processing units . Processing centres where RURAL farmers can come and sell thier crops and get paid the SAME DAY. Especially cash crops that can be stored eg yam, cassava, corn, rice

So in essence the Nysc camps are processing centres where these crops are then prepared to be exported

It’s that easy

It’s not textbook stuff

It’s that simple
Very very simple

No even need to employ any farmer to farm anything

Once the first group of farmers see they went to an Nysc and sold thier crops to the government, nobody will not remind everyone to go and start growing crops anywhere they see land in their native lands

No need for middle belt this middle belt that

We need made in Nigeria peppers , made in Nigeria tomatoes made in Nigeria cocoa to be exported and flooded into foreign countries so we can get CRAZY AMOUNT OF FOREX TO help us and fix this mess we are in

There is no other way

Infact instead of this pointless Dan gote refinery a super mega farm should have been built with instead

Such a waste

Nigeria pls leave Crude oil alone

You have things you sold and made so much money from before 1980

Please I beg you in the name of God

$98b divided by 10 = $9.8b
Of the 10 years, APC spent 9 years. If we take 9 years by $9.8b each, it is $88.2b. So far our present baba has spent close to 9.8b travelling to tell us that investors are coming. In less than one year, Nigeria has gone from frying pan to fire.

Alright that data is noted... however how much USD is obtained from foreign remittance to Nigeria?

Compare the stats and perhaps we can come to a conclusion on the ROI of Nigerians who japa.

post=128325666:
How much is that in Naira please?!

Check am urself agbado

I still don’t understand how Nigerians think any magic or miracle can make the Naira valuable when they inflicted SELF INJURY on themselves with their greed for foreign goods & services and the resultant INBALANCE OF TRADE!

Thanks to corrupt leadership and citizens.

The country without a future.The country without a future....

We don't want to face the hard truth that domiciliary accounts needs to be shut down,how can you have account of other counties currency in your country? Don't you know that it would encourage "hoarding" of those currencies by currency speculators,and it is not the responsibility of government to fund the lifestyle of private citizens, government ought not to be making foreign currency available for those that want to school or take religious pilgrimage abroad,we need to be serious in this country.

adenigga:



Source: https://punchng.com/Nigerians-spent-$98bn-on-foreign-trips-education-in-10-years-CBN

This na official lies

How about the trillions they paid for subsidy in dollars?

I just dey look this APC govt of lies and propaganda

Cantonese:
$98b divided by 10 = $9.8b
Of the 10 years, APC spent 9 years. If we take 9 years by $9.8b each, it is $88.2b. So far our present baba has spent close to 9.8b travelling to tell us that investors are coming. In less than one year, Nigeria has gone from frying pan to fire.

APC as a party are well rooted in lies and cover up.
Let us investigate them, we will discover their evil intent, not like they love Nigeria. They are primarily in power to steal, destroy and blame it on the innocent.

How many people can afford sending their children abroad, if not politicians, businessmen and civil servants in cooperated thieves.

Ajehkpako4naija:
Buhari and Jagaban finished this country! Na so fire go finish thier household

You no get joy. U no even understand wetin dem talk.

adonainana:


Nysc camps are not too small to be converted to mega processing units . Processing centres where RURAL farmers can come and sell thier crops and get paid the SAME DAY. Especially cash crops that can be stored eg yam, cassava, corn, rice

So in essence the Nysc camps are processing centres where these crops are then prepared to be exported

It’s that easy

It’s not textbook stuff

It’s that simple
Very very simple

No even need to employ any farmer to farm anything

Once the first group of farmers see they went to an Nysc and sold thier crops to the government, nobody will not remind everyone to go and start growing crops anywhere they see land in their native lands

No need for middle belt this middle belt that

We need made in Nigeria peppers , made in Nigeria tomatoes made in Nigeria cocoa to be exported and flooded into foreign countries so we can get CRAZY AMOUNT OF FOREX TO help us and fix this mess we are in

There is no other way

Infact instead of this pointless Dan gote refinery a super mega farm should have been built with instead

Such a waste

Nigeria pls leave Crude oil alone

You have things you sold and made so much money from before 1980

Please I beg you in the name of God

Churches should also be converted to Mental Hospitals.
More Forex to our Health centers

Blazebond:
We don't want to face the hard truth that domiciliary accounts needs to be shut down,how can you have account of other counties currency in your country? Don't you know that it would encourage "hoarding" of those currencies by currency speculators,and it is not the responsibility of government to fund the lifestyle of private citizens, government ought not to be making foreign currency available for those that want to school or take religious pilgrimage abroad,we need to be serious in this country.

Na them politicians hold 98 percent of the domiciliary accounts.

Anybody wey bring that up for national assembly, fit no see to tell the next day.

CBN should focus on oil thief

That is why the Naira keeps depreciating everyday. Evil politicians.

okomile:
Long story

What is the solution (s)

Revolution coming

.. what to they are saying there....the solution is for nigeria to be a producing economy, country...more exportation of goods and less Importation of goods and nigerians should value, buy, patronize what they have in their own country.. nigerians should reduce the way they travel to abroad to attend school, foreign universities abroad and travel for medical treatment abroad.... nigerians should attend universities in nigeria and medical treatment in nigeria hospital...not everytime.. abroad... foreign countries

98 trillion naira alone spent on education and medical treatment abroad in dollars that in which dollars is scare in nigeria..and what do you expect...the dollars must keep on rising and the naira losing value against the dollars...the solution is for nigerians to value what they have in their country...,this going to abroad to attend universities and go for medical treatment abroad should reduce and patronize nigeria universities and nigeria hospitals...more exportation of goods and less Importation of goods and less demand for dollars and more earnings of dollars...are also the solution to strengthen the naira and make it have more value against the dollars... simple

post=128325666:
How much is that in Naira please?!

..that is 98 trillion naira spent on education and medical treatment abroad in dollars...then why won't the dollars exchange rate keep on rising and going higher against the naira and the naira will keep on losing value and depreciating which will affect the economy and make prices of foodstuffs, goods to be expensive and brings inflation

I don't know how Nigerians’ spending on foreign education, healthcare and personal travels gulping over $98bn in 10 years the problem in developing Nigeria.

We as Africans people don't even travels like the Oyinbos and they never complain that their people travelling too much will spoil them economy.

Just looking for excuses from everything they think about. This our CBN governor now if you go check very well i bet him children will not be in Nigeria. But they will just open mouth to dey say rubbish.


The administration that already failed right from the day of inauguration. If you own a company and make Emilokan the manager to turn around your business and in 9 months the business is 5x worse. Will you be praising Emilokan? One word for this government is INCOMPETENCE.


The data from the global bank revealed that between 2015 and 2022, a total of $168.33bn was sent home by Nigerians in the Diaspora. A breakdown of the figures showed that in 2015, the Diaspora remittance was $21.2bn; it fell to $19.7bn in 2016; and increased to $22bn in 2017. By 2018, it was $24.31bn.25 Apr 2023.
https://punchng.com/diaspora-nigerians-remitted-168bn-in-eight-years-world-bank-report/

In 8 years 2015 to 2022, Diasporas was able to sent $168.33bn home compared to $98bn used for traveling on foreign education, healthcare and personal travels and you are still blaming people looking for good life elsewhere, no be juju be that.

E lo fokan bale, a ma gbe wale.

adenigga:



Source: https://punchng.com/Nigerians-spent-$98bn-on-foreign-trips-education-in-10-years-CBN

If $98b USD is invested in Industrial and agricultural development section in 10 years, there will be no kidnappings, not banditry.

Bunch of useless leaders!!!!

The only reason this daft Alajo Shomolu is CBN Chairman is bcus of the nonsense kinda politics We play down here.

Nonsense.... How does it affect the price of food items in the market.
As a student during Jonathan, I can take my guys to a fast food joint in my area and asked them to order for anything...
Today, I managed to take myself out and All the fast food joints in my area are no more.
Up APC....

And they will be blaming government and Tinubu