₦airaland Forum

I have not finished engaging the intelligent ones(read my response to Lanruze), when I am done, I shall have time to waste on a Jabroni like you. You hear?

Putindbutt:
My customer, point out what was poorly written in the article, simple question. You don't start again to dey do like snake. Illiterate.

Fair enough and a reasonable post. However, a few pointers below

1. Improvement in the Production of crude to 1.5m Barrels PD.: Production is currently at 1.479M/PD compared to 1.53M/PD same period in 2024 and the average of 1.96M/PD in 2022. Even the average for 2024 was 1.61M/PD. Surely, doing 1.5M/PD can not be
classified as improvement going by the precedents.

2. Food inflation on staples reducing with about 20- 40.%: Please don't bring this up in any analysis. That's is a paper reduction. Even the statistician general(Adeniran) in his press conference made it clear that the reduction is not reflective of the true and current state of inflation in Nigeria, they just needed to update their data. I read a Reuters report on the rebasing of Nigeria's inflation rate and they referred to its as "paper reduction"

3. Improved foreign portfolio investor confidence on the stability of a badly devalued naira.: I am not clear about what you meant here, perhaps a more expansive analysis would help. Regardless, the more s acceptable measure of foreign investor's confidence in an economy is the FDI and not Portfolio investments. Portfolio investments are considered "Pirate investments". They are like venture capitalists that thrive on arbitrage in an economy without any meaningful development. They go about seeking where the rates/returns are highest for short term gains, put the money there, earn the profits and get out with both initial investment and profits. They usually include stringent conditions when exporting capital to enable them get out when all seems unfavourable within a short period. Unlike FDIs that invest genuinely by gaining control of establishments for growth, suatainability, development and profits. As it stands, the FDIs to Nigeria has been declining at an alarming rate. According to UNCTAD report in January 2025, Nigeria's FDI diminished by 79% between 2021 to 2024. Again, the World Bank website shows that Nigeria FDI dropped from $3.5bn/annum in 2022 to $1.56bn/annum in 2024. That exactly, is a sign of investors loss of confidence in your economy/policies/reforms. I am glad you used the term "badly devalued naira" though.

My brother, everything is propaganda. The biggest revelation of Tinubu's presidency is that the aura and bubble of "intellectual genius" that was put around him by his followers and worshippers have been busted, though at a very great cost to the Nigeria. if not, we would still have been hearing the noise about a "brilliant accountant", " master strategist", "great thinker", etc...... he has been found out to be empty. The technocrats he promised are no more than the same confused and clueless ones managing the economy so terribly now. No bagger will mention Tinubu and brilliance or "builder of Lagos" in the same sentence again, ever.

Lanruze:
There are significant signals that the economy is on the Northern trajectory

1, Improvement in the Production of crude to 1.5m Barrels PD.

2, Food inflation on staples reducing with about 20- 40.%

3, Improved foriegn portfolio investor confidence on the stability of a badly devalued naira.

However, this article looks too optimistic, can the author clearly state the total foreign direct investments with it's data that has come in since PBAT Admin took off.

All the new investments listed above are Government bonds sold and Hot Foriegn Portfolio Investor funds with huge interest payable in dollars.

The total GDP alone in 2024 compared to 2023 showed a negative of over $(100)B. and you want to continue playing propaganda.

The manufacturing sector should be focused on better.


If CBN with it's reserves want the Naira to drop to N500-$1 they will do it in one week.

Let's be real abeg.

Lol...Jabroni of Nairaland....is that you seeking for attention again to earn your stipend? Wait. Let me respond to superior and intellectually challenging posts first, when I have time to waste, I shall engage you. You hear?

Putindbutt:
Because you're shortsighted. If it were a negative news, you'd start masturbating.


Point out to what was poorly written in the article. I can point out at least three poorly written sentences and five poorly spelt words from your comment above.
You know what, God will continue to punish you bitter losers. Your wailing continues till 2031 and beyond.

Lol.... you are wrong.

Reporting is in Naira....loss is in Naira too. By IFRS standards, you report in your operating currency(naira). However, you are expected to carry out revaluation exercises on your liabilities if they are in forex, especially if there are events in the year to suggest the carrying value of your liabilities or assets may be below the fair value/value in use. Revaluation losses will also be in reporting currencies.

Loss was not because they converted their financials to foreign currency but due to revaluation of liabilities for reporting reasons(IFRS 9)

CodeTemplar:
...i take it to mean that they always end up converting their naira profit into lesser than the forex input every year.

The key thing about this report is....notice how the international companies(MTN, Dangote,Nestle, Guinness, WAPCO,etc), reputable financial analysis and reporting publications (like The Economist,Reuters and AP) and bodies like IMF and EU keep using the word "Devaluation" for Nigeria and not the word "Floating".

They know what they are saying. It was a devaluation exercise......i am sure the truth will hit home soon.

Paid advert. Lol

Correct!!

Ojuntana:
Tinubu
This is exactly is he ran Lagos as gov
No meaningful governance or development instead supremacy and dictatorial political brinksmanship left, right and center

That's why he always raise taxes to have a financial warchest to fight his battles

That's why he employs a lot of agbados to run his propaganda outfit

But governance? Mbanu! Kojoo!!

Lol....paid advert

Lol.....even the poster does not believe what he/she has written is true.

I am not surpised at all by people of low intelligence racking up unhinged lies, it is meant for a particular class of audience who are either on their level or below that in reasoning. Besides, they are earning their pay even though their conscience know that they are not earning it in a honest way. They know.

What i am diasapointed in though is how these poorly written pedestrian pieces make front pages of Nairaland. I know Nairaland is so compromised and had dropped down massively in quality over the years, but the question is what informs putting an obvious propaganda news on the front pages..... dont the mods even read through some of these gibberish sometimes? I would be ashamed of being caught reading through this, talkmore of putting it as a headliner in my community newsreport

Please and please dont dirty your brain by engaging the Jabroni of Nairaland.( Putt in d butt).

Just avoid him lest he drags you down the gutter with
his pig experience. There is a reason intelligent people put him on ignore list. He is a jabroni. Dont engage, please !!

AMINDA:
You mistake me for one of your fellow areaboys. Who reinstated Obasa?

Meanwhile...

APC supporter: Obasa is very corrupt, so the House of Assembly has impeached him. Guns were even found in Obasa's CSO's office by the DSS.

APC Leaders: Meranda must resign so that Obasa can return.

APC supporter: ''Jagaban has settled it. He's a political strategist''

Animal Farm!

Lamba!!!.....will he tell you all the ones he collected?? Lol

Nonsense....they throw banters at their PMQ/A sessions. It does not mean anything.

Lol...is it fixed ?

These poorly paid pro government propagandists sef....

Fiction....nice storyline though

What is 3k Lol

So what? Sharing a tiny percentage of your loot is not synonymous with good leadedship. If he was a good leader, 95% of the members would not be campaigning that they don't want his leadedship again. He can be a local champion in his area but he lacks the leadership skills to led those people and they have come out to state this boldly. They might have been suppressed in the past but tobhave taken the unilateral decision wothiut consulting the Lord of Lagos before taking his man out could only mean he has been a terrible leader all along and those guys could not stomach it again

Yampotatocarrot:
Can they just leave Obasa, I'm not saying he's perfect, but one cannot deny that he gives a lot back to his constituency

Since last week, he has been sharing free jamb forms to intending jambites as he does EVERY YEAR, atleast if I don't exaggerate, up to 500 students will benefit from it

Lol....you mean Obasanjo is now fighting for the speakership of Lagos assembly too after being a president twice and a former head of state?

He must be a greedy old man...

Softmirror:
It is not about Meranda it is about the fact that 96% Lagos State Law makers have rejected Obasanjo.

Hey Jabroni(aka puttin d butt)👋.....have you checked the meaning ofn our new name?

Don't run away....we need a court clown(osinwin gbogbo ilu) here on Nairaland. We are missing you already...

Lol...jabroni....on nairaland, you are my monkey....everyone knows that.

Putindbutt:
I will flog you so bad on this platform, shebi you know 🤣🤣😭

Lol.....dude doesn't realise his new name yet....Jabroni of Nairaland...lol...

Search Jabroni on google....you go cry for 1 week without stopping

Putindbutt:
All these tactics of deflecting no dey work on me o, shebi you know 🤣🤣. If you dey continue to do pass yourself, you know how it will land you

Lol....coming from a publicly known Jabroni.....wow!!

Lol....this is rich!!.

Putindbutt:
My customer welcome, I still get your cane in the corner 😂😂

Lol....you know a Jabroni by how poorly he reacts to an intellectual challenge.

Di yiu know the meaning od "Jabroni" ? I am sure you will never post on Nairaland again if you google the mesning

instead of the dullard to challenge my position with facts and an intellectual counter argument, he is advising me to leave him alone this morning for him to wallow in his buffonery.....

How did APC gather these group of dimwits to defend them online? .....with all the money they have access to??

Surely they can afford some decent educated people who are currently looking for jobs....not these agbero and those who could not pass First school leaving certificate exams disguising as experts.......lol

Putindbutt:
You wan start again this morning abi? 😂😂🤣🤣🤣😂 . I will advise you to just waka jeje 🤣🤣

Not correct. Its either you have heen listening to the wrong stories/propaganda or you chose to be economical with the truth for an agenda


According to recent reports, $8b has been spent by CBN from the foreign reserves to defend the Naira in 2 years, which is an equivalent of $333.33m per month and an average of $4b per annum.


Now, compare, in 2021, CBN depleted $3.47bn from the foreign reserve to defend the Naira and about $6.4bn in 2022. totalling $9.8bn.

So a cluekess government that devalued the naira under the guise of floating it, has spent almost the same amount to defend it, while telling obvious lies to the populace

At least during the Buhari era, Emefiele came out regularly to tell the whole world that they were defending the Naira and usually stated the amount spent on such venture. There is a reason this current government is hush about how much they spend on defending Naira....no one knew until Rewane blew it out recently. They are deceiving the mumus dem.

Wait until this government is kicked out, thay is when you will hear all the shenanigans that is going on. Tbis js the most clueless government or adminstration Nigeria has ever had

galserv:
Do you know more than the CBN

The point is that the defence of the Naira is now SUSTAINABLE unlike before. And it is not responsible for the depletion of the reserves. CBN sells 25million dollars to BDCs weekly. In a month that is 100million dollars. That is not the cause of the reserve depletion!!!

Bro, that dude (puttin d butt )is the official dumbo of Nairaland....I encourage you to ignore lest he dirties your brain with his clowning

SalamRushdie:
Areaboy as long as our foreign reserve is being depleted to make the naira stable or look good it's a defense, now who istvthe illiterate here ? 🤡🤡🤡🤡🤡.

Spot on....

tnerro1:
At least they have used style to jettison their useless market value of the naira, they better continue to defend the naira cause 2027 elections will start from next year. They need something to show the gullible people that look, our policies are working

Lies...lies...lies

Russia was fighting against global sanctions and attack against its economy and currency. Not a good example.

Japan never supported Yen in 2024. In any case , Japan runs a managed floating(closer to a fixed rate system) since 1973 and not a fully floated system. Unlike Nigeria where we were told Naira was fully floated but they are currently spending billiond to defend it just as Emefile did when it was managed..

Bring more examples and let me lecture you on them..

No country runs a floated exhange rate system and still defends it currency by selling from its national reserves.

I am waiting

spiSeyi:
It's normal Russia supported its currency with almost 360B USD in 2023 even Japan did the same last Year .
The only issue here is what are the other sustainable plans to balance our trade deficit and diversify the economy in large scale

Lol...u never disappoint. In your brazen buffoonery you keep showing why you are regraded as the dumbest poster on Nairaland....and for me, I will never let the opportunity to school you and press your neck pass..... on economics, geopolitics and international finance, you are my monkey on Nairaland........take that to your grave

now listen

Foreign reserve has nothing whatsoever to do with exchange. It only helps credit rating for loans and give an idea of how many months or years worth of importation a country can sustain in international trade

Now, continue with your monkeyness...lol

Putindbutt:
Make I dey watch this Illiterate. As reserves don surpass $40b, make I dey laugh losers🤣🤣🤣

Lol......here below is the official dumbest poster on nairaland...lol

Putindbutt:
Street Journal is a propaganda outfit 🤣🤣🤣, how about other credible media like Premium times, Channels that carried it ?, Even your aboki Dailytrust carried it. Quota system Illiterate you are.😂😂😂

God have mercy!!

...and this one too will claim he/she is educated....

Salebo:
MORONN!!!!!!

It's is economically ETHICAL to support your currency...

Supporting is VERY DIFFERENT from defending..

MORONN!!!!!!!

spot on....!!

baconline:
He finally has started backing the naira with our reserve.this should never have stopped in the first place. Floating the naira is the biggest mistake of this administration

Lol....Technocrats....really?

Lol.....this thread has helped to reinforce my assumption that you have a lot of educated buffons who know next to notthing about economics but come here to display their daftness either because they are paid stipends to comment on any pro government gibberish online or they are doing it out of their blind religious and tribal affiliations.

I have repeated it here more than 100 times. Only daft and moronic citizens jubilate over growing foreign reserve when it is not used to defend the local currency or support the local economy by way of subsiding importations of much needed raw materials or machinery.

The only ones who should be jubilating are your foreing creditors who would be glad that the collateral opportunities are improving. Most of the foreign loan convenats are tied tonyour forteing assets for collateral of which the foreign reserve is a major one. In fact, some foreign loans put restrcitions on how much of your foreign reserves can be used for certain things. Foreign reserves are a quick catch in case of international disputes or failure to pay back foreing loans/ or meet their conditions. It will be easily seized. Russian assests seized by the West at the outset of the invasion of Ukraine is a typical example.

The strength of foreing reserve are measured by how much or how many months/years of importations the cluntry can afford before packing up or becoming illiquid in internstional trade.

In the case of Nigeria, the Tinubu administration has stated that it does not defend the Naira because it was floated(even though we know it is a lie as recent news have confirmed). So, growing ornincresing foreign reserves is no cheering news as it is useless to support your economy. You are just making World Bank and IMF happier. Unless you use it to support your economy by propping up your currency or use it to subsidise needed raw materials, infrastructre, machinery or anything needed for the economy to grow....it is a useless news.