5

Don't feel there is much problem in taking what you have to solve your problem...

Julibet:
Seems Aisha was right when she said keep your dollars close.

Don’t only keep it close, why don't you buy more dollars?

Chai. Normal normal, helinues go quickly comment to defend them but when he runs out of what to defend them with, he will go into hiding. Enemies of Nigeria!

Julibet:
Seems Aisha was right when she said keep your dollars close.

I am hungry, what should I do withmy dollars?

Julibet:
Seems Aisha was right when she said keep your dollars close.

I am hungry, what should I do with my dollars?

Golan007:


Think with your brain.

The impact on the man on the street is what's most important.

Garri the most staple and commonest food for a common man is now out of reach from the common man.

Racoon:
Just imagine the depletion of the foreign reserves of this nation by these crooks in government. Using it to criminally subsidize fuel and the dollar. Hehehe! I laugh. The lean reserve is being used to sustain the forex. It will still plung, down, depreciate and then worsen some more.

The looting by Tinubu and his minions is currently in high gear. When they finish stealing what is at hand, they will borrow a lot more to steal. Nigeria, sorry!.

PBAT administration met $34 billion in our foreign reserve June 2023.

Off the top of my head :-
-This administration paid $500 million Eurobond in July 2023.

-Paid external debt in Q4- : $900 million

-Paid CBN legacy debt of $7 billion

-Paid ways and means debt of $4 billion

That is $12 billion.

I am aware the government also paid $1 billion to the USA government for weapons in November 2023

We don’t know how much credit line and importation has been paid for. We are yet to see what the government paid for external debt in Q 1 2024.

But let’s cry, because we have a $32.5 billion in our reserves. $1.5 billion drop from where this administration met it despite over $12 billion expenditure.

Poor reserve 😪😪😪😪. The government chose to defend the Naira instead of attacking the Naira

Ok,we see

Give it up already!

LegendHero:
Lol, Nigeria media and nonsense sensational reporting.

Below is a quick chart I did on python with the FX reserve data from CBN. You can see how the foreign reserve move average through the years from 2006 to 2024.

Cardoso paid over $6bn in FX backlog, repayed trillion from the way and means, where do they expect him to see the money aside dipping in the foreign reserve and borrowing?

Even the Bloomberg report that they are all copying and pasting clearly mentioned the above in their report. Just that Nigeria media don't use brain in copying.

To all those kids screaming keep your dollar, how many of una even get dollars lol? For those with dollar, keep it so that your family can cry for you when you lose your life fortune.

God bless Nigeria.

If the powers that be would listen up, they should sell the entire FX Reserve,use the proceeds to crash the exchange rate and the balance to massively import equipment for mining, ores processing and Gold Refinery. The FG should then embark on aggressive purchase for storage the entire Gold refined in the country! We can also spread our reserves in the top three foreign currencies spread between the BRICS, the West and Brazil. This approach will put an end to the see-finish that USA in doing to us!

But what does ordinary me know about national economics and fiscal policy?

Racoon:
Just imagine the depletion of the foreign reserves of this nation by these crooks in government. Using it to criminally subsidize fuel and the dollar. Hehehe! I laugh. The lean reserve is being used to sustain the forex. It will still plung, down, depreciate and then worsen some more.

So it is now criminal to subsidize. These guys are clowns.

Goodvibes007:

It's about $1.5B and not even up to $2B. Mean while:

PBAT administration met $34 billion in our foreign reserve June 2023.

Off the top of my head :-
-This administration paid $500 million Eurobond in July 2023.

-Paid external debt in Q4- : $900 million

-Paid CBN legacy debt of $7 billion

-Paid ways and means debt of $4 billion

That is $12 billion.

I am aware the government also paid $1 billion to the USA government for weapons in November 2023

We don’t know how much credit line and importation has been paid for. We are yet to see what the government paid for external debt in Q 1 2024.

But let’s cry, because we have a $32.5 billion in our reserves. $1.5 billion drop from where this administration met it despite over $12 billion expenditure.

Pls where did the government get money to pay all this?

Quest7777:
Increased Production and Exports remain one sure way to strengthen the Naira, not all these superficial bulaba economics they have been scamming us with.

So Dangote refinery is not increased production?

All those $$ we source to buy diesel, will we not be directing that demand for diesel import to somewhere else?

Abi that dosen’t count as production to you?

Dittodat:
What's the big deal in a 2 Billion dollar drop? Stop trying to make a mountain out of a mole.

you get a million?

Wow.. what a record by bat.. bat has done what other presidents were scared to do.. our foreign reserves were busting at the seams.. constituting too much load on our reserves.. took only bat to reduce it for us..


Agbadorians

Cardoso is selling our scarce dollar to BDCs at artificially cheap rates just to force exchange rate down.
He wants to enjoy momentary praise and look for who to blame when the proverbial shit hits the fan.
This is not sustainable. US dollar is not Naira that we can print as much as we like.

FX floating: reversed
Subsidy removal: reversed

Why then did BAT and his gang of baby economists subject Nigerians to the excruciating pain?

Akwamkpuruamu:
Only fools believe that naira is stabilising without A dip in the foreign reserve. Same thing Emefiele did, that they are crucifying him for.

Government of deception.

Don't mind the jaujau man called Tinubu. He knows nothing about governance, only propaganda. He was the same man who brought us here . He was the one campaigning for Buhari in 2015, carrying him upandan in his private jet.

All what Buhari was busy doing then was shaking the broom after each campaign programme. It was tinubu who wrecked the Nigerian Economy not buhari. He was the one who deceived Nigerians and painted Buhari white. He got to office and set nigeria backward by 40 years. Last night I heard on channels tv that Nigeria breweries wanted to shut down 2 of their facilities meaning more people will be thrown out of jobs. The minister of trade corroborated it. Sadly, only in Nigeria are all these happening. Multinationals are leaving in droves for Ghana, Ethiopia, Botswana and Kenya.

Now the propaganda continues. Nigeria no wise at all. They will be wise someday.

So yall niggars thought the naira was just rising like auchi garri inside water? Haha! There's a lot padding and subsidies going on low key probably.

Oluwale boys on the beat!!!

Ok, this isn't funny anymore....Just WTF is going on.

Akwamkpuruamu:
Only fools believe that naira is stabilising without A dip in the foreign reserve. Same thing Emefiele did, that they are crucifying him for.

Government of deception.

Tinubu's SW support group can believe all propaganda from presidency , yeye people.

Racoon:
"The last time the foreign reserves stood at this level ($32.29 billion) was on September 9, 2017, when the CBN reported N32.28 billion. The decline in foreign reserves comes amid CBN intervention in the parallel market in a bid to crash the FX rate." Think with your brain first.

Using naira reserved to defend dollars while other reasonable countries of the world uses production of goods and services to defend dollars and strengthen their economy. You na Weldon gangan.
Racoon, let them do the needful and stop this voodoo economy by encouraging production and investing heavily in agriculture and technology. This mechanic approach won't last for long before it bounces back and hurt the citizens the more. Ati wi ti wa o. Abo oro la nso fomo oluwabi to ba denu adodidi.

Goodvibes007:

It's about $1.5B and not even up to $2B. Mean while:

PBAT administration met $34 billion in our foreign reserve June 2023.

Off the top of my head :-
-This administration paid $500 million Eurobond in July 2023.

-Paid external debt in Q4- : $900 million

-Paid CBN legacy debt of $7 billion

-Paid ways and means debt of $4 billion

That is $12 billion.

I am aware the government also paid $1 billion to the USA government for weapons in November 2023

We don’t know how much credit line and importation has been paid for. We are yet to see what the government paid for external debt in Q 1 2024.

But let’s cry, because we have a $32.5 billion in our reserves. $1.5 billion drop from where this administration met it despite over $12 billion expenditure.

How much is a paint of Garri in your area?

Lol abi we no talk am? Believe any propaganda from Agbado at your own risk

O fe gbe mi mora , barawo banza

LegendHero:


So Dangote refinery is not increased production?

All those $$ we source to buy diesel, will we not be directing that demand for diesel import to somewhere else?

Abi that dosen’t count as production to you?

You think only Dangote refinery can do the magic? Please continue deceiving yourself. The government also need to be involve in all strata of governments. Both local, state and FG. We need waking up as a people and country. We don't know what we are in. This sleeping Tinubu must wake up and engage in heavy production of goods and services with aggressive export. All this mechanical approach won't last.

Julibet:
Seems Aisha was right when she said keep your dollars close.

I think she said that because their seems a scheme to convince Nigerians that the dollar is the currency loosing it's value against the Naira when in fact all of this rollercoaster has been experienced by the Naira and the Naira alone. Imagine someone trying to tell me just some hours ago that the Dollar lost its value against the dollar. Shocked the hell out of me since the dollar wey dey my side never change at all in all of that time.

IfnobeGod20:
∆ You think only Dangote refinery can do the magic? Please continue deceiving yourself. The government also need to be involve in all strata of governments. Both local, state and FG. We need waking up as a people and country. We don't know what we are in. This sleeping Tinubu must wake up.

Pretty much a Government encouraged monopoly.

Nigerians get to flush $2 billion down the drain all in order that Dangote's business can rise as savior for all Nigerians. Na. Wa oo!