femicyrus:
.is it better to keep foreign reserve while poor people are dying of hunger and inflation?
Or the reserve should be used to alleviate the sufferings of the masses in the interim pending when the economy will pickup to save again?

Tetraozonaitera:


Guy, use your head.
I always jump over your senseless posts but today you deserve a word from me.
For your information, I am Yoruba. From Osun state. Same state as Tinubu.

iI'm not saying its bad to support a government.
Nothing is bad in doing that.
But do it with the fear of God.
When a government you love performs badly be sincere enough to say it.
All these you are doing will affect your coming generations. I mean your children and your children's children.
When your children start groaning I hope you will be bold enough to tell them you were a part of the making of their pains.

RealTrump:


Saudi also defined their currency but unlike you, their reserve is $1.5T. According to nairametrics, CBN is burned $2B in approximately 1 month, in how many weeks will we finish a paltry reserve of $32B?

Mind you, they have collected plenty debt against that reserve, they still collected $2B days ago.

Sadly for your type, Propaganda can't be used to bring down the dollar.

RealTrump:


Saudi also defined their currency but unlike you, their reserve is $1.5T. According to nairametrics, CBN is burned $2B in approximately 1 month, in how many weeks will we finish a paltry reserve of $32B?

Mind you, they have collected plenty debt against that reserve, they still collected $2B days ago.

Sadly for your type, Propaganda can't be used to bring down the dollar.

LagosFirstSon:

You're known for always supporting a failure . From buhari to Tinubu.

They wrote naira depreciated but you ha to derail the thread to hide tinubu incompetence.

Tinubu has been accused of using our foreign reserves to patch patch the naira to appreciate to dollars but still didn't work . Guy, why do you like supporting failures like your entire existence depends on supporting failures ?

grandstar:
The true value of the Naira sits between 1,300-1,400 based on present fundamentals. Anything stronger will harm the economy. It seems Tinubu is more perturbed about a loss of face over a dwindling Naira than accepting reality.

The nation needs to reinvent it. The dependence on crude oil sales for the bulk of the countryš forex is a scourge and needs to end.

The focus now should be an "export or perish" mantra. The desperate clinging to a strong Naira policy will adversely affect exports growth.

The government's goal should be to triple exports within 10 years, the majority being non-oil.

It can only achieve this by deregulating the price of petrol which will induce massive investment into the downstream sector of the economy which has for long suffered a dearth of investment due to the subsidizing of fuel.

Next, should be the deregulation of electricity prices. Let's Discos charge cost reflective tariffs, so huge investments will flood into power generation and distribution to ensure ample power supply for new factories and businesses popping up.

Next should be the lowering of companies tax to less than 20%. Low corporate taxes have positive transformative economic as they lead to a surge in investments, both foreign and local boosting economic growth to the heavens. It's what many Central European countries in the EU have long implemented and with superb results.

More reforms are needed but this should be a start.

Ritchiee:


lol
Is nairametrics CBN?
The reserve went down because of FX backlogs including airline backlogs settled.
Abi the about $12 billion obligation paid were taken from nairametrics yansh?
Cardoso had already debunked the lie.

I remember that Obasanjo left 65 billion dollars but Jonathan left 30 billion dollars for Buhari,What did they defend with $35 billion of Nigerian reserve even with the gigantic,humongous FX Nigeria was making.

My joy is a couple of things are getting cheaper.
I was surprise to hear yesterday that a derica of rice..maybe Nigerian...that was selling for #1200 now sells for #900.
Nobody told me,I saw it myself at Mile 12.

1 kg of gas was sold at Ogudu for #1200 yesterday.
Diesel price has gone down exponentially.
It will trickle down and enemies of Nigeria and the people will be shamed.
This is what the masses need.

helinues:


Stop surrounding yourself with too much negativity.

Rejected at his home state yet your president today, which awada keri Keri are you talking about. Why can't the person who won his home state be the Nigeria president today?

Una emotional blackmailing is just so stale

grandstar:
The true value of the Naira sits between 1,300-1,400 based on present fundamentals. Anything stronger will harm the economy. It seems Tinubu is more perturbed about a loss of face over a dwindling Naira than accepting reality.

The nation needs to reinvent it. The dependence on crude oil sales for the bulk of the countryš forex is a scourge and needs to end.

More reforms are needed but this should be a start.

grandstar:
The true value of the Naira sits between 1,300-1,400 based on present fundamentals. Anything stronger will harm the economy. It seems Tinubu is more perturbed about a loss of face over a dwindling Naira than accepting reality.

The nation needs to reinvent it. The dependence on crude oil sales for the bulk of the countryš forex is a scourge and needs to end.

The focus now should be an "export or perish" mantra. The desperate clinging to a strong Naira policy will adversely affect exports growth.

The government's goal should be to triple exports within 10 years, the majority being non-oil.

It can only achieve this by deregulating the price of petrol which will induce massive investment into the downstream sector of the economy which has for long suffered a dearth of investment due to the subsidizing of fuel.

Next, should be the deregulation of electricity prices. Let's Discos charge cost reflective tariffs, so huge investments will flood into power generation and distribution to ensure ample power supply for new factories and businesses popping up.

Next should be the lowering of companies tax to less than 20%. Low corporate taxes have positive transformative economic as they lead to a surge in investments, both foreign and local boosting economic growth to the heavens. It's what many Central European countries in the EU have long implemented and with superb results.

More reforms are needed but this should be a start.

femicyrus:

Your type prefer Nigerians who are poor to rather die instead of the foreign reserve to be depleted.
You need a psychiatrist evaluation of your wickedness.
To you, everything is politics.

Rice is becoming cheaper, that does not matter because the poor should
not breathe?
You think we care about who the president is or his political party and his policies?
The poor should breathe!
No matter how it is done, it does not matter

heysquare:

What is your foreign reserves meant for? Is it for embezzlement if not to defend your currency. And you people continue shouting that the reserve is depleting when NNPCL has not been remitting any money for a while now because they've sold crude oil in advance and the contract will only expired by June before they could even supply Dangote and other interested buyer and then they will have more remittance to the reserve

Tetraozonaitera:


Guy, use your head.
I always jump over your senseless posts but today you deserve a word from me.
For your information, I am Yoruba. From Osun state. Same state as Tinubu.

iI'm not saying its bad to support a government.
Nothing is bad in doing that.
But do it with the fear of God.
When a government you love performs badly be sincere enough to say it.
All these you are doing will affect your coming generations. I mean your children and your children's children.
When your children start groaning I hope you will be bold enough to tell them you were a part of the making of their pains.

RealTrump:


Cardoso himself said at an IMF event that he was defending the naira but said it was "unintentional," but you are here saying the CBN governor himself was wrong

Whatever wants to happen, let it happen. Naija cannot scare me again, I could care less

Daystar7:



This sounds stupid and cunny.
Y'all criticized Emefiele for defending the Naira which made the poor breath excluding his principal Buhari from the criticism, today they went back to the same thing y'all criticized Emefiele for and it's letting the poor breath huh? Who una dey deceive? Price of rice is coming down so we should dance? How much was it before this demonic party took over? Didn't they criticize the price of a bag of rice at #8k? Evil doers all of you and y'all doom is near

helinues:
.

Tell us one major thing you have supported on this forum for the past 8 years that came close to reality. I no ask for two oo, just one

You no even dey get shame upon how you have been casted on this forum.

See as how he wrote rubbish all in the name of attacking unnecessarily
When someone is programmed and wired to negativity, he will even hate people for standing for positive and progress. So it did not matter if he never won(who even want negative to win) So let him satisfy himself by looking for failure.

Shior

helinues:
Which one is again? Didn't it gain over the weekend?

See as how the op make the headline look like the loosing has been consistent

femicyrus:

Just go through what you wrote and listen to yourself.
You are happy seeing dollar going above #2000 because your principal came 3rd in a presidential election?
You wanted all Nigerians to suffer as a result?
Anything done to solve any problem in Nigeria, you will kick against it because Obi failed?

grandstar:
The true value of the Naira sits between 1,300-1,400 based on present fundamentals. Anything stronger will harm the economy. It seems Tinubu is more perturbed about a loss of face over a dwindling Naira than accepting reality.

The nation needs to reinvent it. The dependence on crude oil sales for the bulk of the countryš forex is a scourge and needs to end.

The focus now should be an "export or perish" mantra. The desperate clinging to a strong Naira policy will adversely affect exports growth.

The government's goal should be to triple exports within 10 years, the majority being non-oil.

It can only achieve this by deregulating the price of petrol which will induce massive investment into the downstream sector of the economy which has for long suffered a dearth of investment due to the subsidizing of fuel.

Next, should be the deregulation of electricity prices. Let's Discos charge cost reflective tariffs, so huge investments will flood into power generation and distribution to ensure ample power supply for new factories and businesses popping up.

Next should be the lowering of companies tax to less than 20%. Low corporate taxes have positive transformative economic as they lead to a surge in investments, both foreign and local boosting economic growth to the heavens. It's what many Central European countries in the EU have long implemented and with superb results.

More reforms are needed but this should be a start.

longetivity:
It will bounce back stronger.

edungene7:
You are in a state of confusion you need to see psychiatrist ASAP