₦airaland Forum

Daviddson:
The killings were unfortunate, but let's stop sensational headlines. From that picture, I can see the governor also shining his teeth. It takes two people to tangle laugh.

Fulani's way of life is to attack even when you haven't provoked them - as a way of registering their fear into your heart. Benue people must show them that they're twice as tough as they, Fulanis, claim to be. It's that anti grazing bill they want the govt to repeal. I'm still surprised no south eastern/south state has had the guts to do same. Very disappointing.

SE are noisy people.

FlyoruB:
Fixed.

Grow up

FlyoruB:
You are nothing but a big hypocrite. If this was Osun you would have cooked up a reason to criticize the move. How do you folks live with yourselves with all that bad-belle.

Grow up.

horsepower101:
This is a good move. This governor has been pushing for the modernization of cottage industries in Aba.

Even though Aba manufactures lots of high volume consumer products. Most of them require so much man power and can be easily done with modern machines.

It time to move to the next stage of development by using modern machines to increase production and efficiency.

The key is to setup industrial zones with exclusive power generation that that zone.

Correct. Tailors too can copy this.

Ekikor:
This governor sha..
As if your people dont produce enough fake products already, You're sending them to china to go enhance their skill ..


Aba would soon be the hub of fake products

Use what God gave you bros. If every state is like Abia amd producing we won't be needing humongous forex every month.

dubemnaija:
Where will osun get money to send her own shoemakers to China?? Make dem pay salaries first

Use what God gave you now. . .
Osun too trained people, maybe not shoemakers. I suspect they were medical doctors, but can't recall it now.

Nice development. I want to see this replicated in all 36 states.

The Fulanis and the watching govt are provoking Nigerians into revolution gradually. Benue that used to be the food basket of the nation is now a grazing zone where human lives don't matter.
The dangerous pattern of ethnic cleansing is of fulanis going after small settlement of small ethnic groups with fertile land.

Really. Replication of governance.

Two sectional leaders. One didn't believe that stealing is corruption the other is using anti-corruption to make people believe him.

jerryunit48:
You guys keep saying sheeet about this man but he is actually making sense

FFK is actually a shìt 'sayer' but Buharis incompetence has made him look like a man of wisdom.

The leaders too should say no to cultism. Cultist have backers.

I don't believe this. Either the capacity or the work isn't real. 20mw is no joke.

GavelSlam:
You love to call him minister of darkness, never minding what he inherited. Once the situation is good you begin to say he hasn't done anything worthy.

There were improvement during Nebo's and Nnaji's time also. Remember ?
It is only natural that some projects he inherited gets completed and i will like to see where I called Fashola minister of darkness. Please show me.

handsomeclouds:
Lolz.. I'm only being objective.. He tried in terms of power, electricity supply has really improved in my area and from the feelers I'm getting, its almost a nationwide improvement.

The Lagos-ibadan dual carriage ,was' also undergoing reconstruction, if not for those sinators that voted down its allocation.

Fashola is just the only working minister, others are just latent or dormant like they arent with portfolio(s) at all.

Well, since you derailed by calling Fashola let me make it clear that fashola has done nothing special so far. Most improvement we are getting are down to projects he inherited. Where are the promised prepaid meter today ?
Has vandalism reduced ?
As for @topic, N-power is good in a way but there is huge room for improvement.

I sympathize with Christians up north.

veacea:
Where is bowen university sef?
Anyways this is me minding my own business in 2018

Bowen is in Iwo town of Great state of Osun.
The king of Iwo is that bling bling king that is always in the news, remember him ?

Wealthy how? It could be true but I don't see how.

People now hold men of God instead of voted leaders.

Hmmm

Restructure the damn entity.

She should learn from Grace Mugabe.

Inspector of dead and wounded bodies he is.

^^The Buhari is never wrong crew . . .
The fact that he is willing to bail out redundant states points to what OP is talking. Let the states publish their books if they must be bailed out or accept restructuring.

Pathetic.

Raintaker:
Well, it's intentional. It's the same thing Christians and IPobs do.
He's only trying to balance the equation.

Ipob. Is ipob attached to any religion?

T

Buhari will rather try to dev the north . . .

He has embraced northernization for now I guess . . .

chngebeginwthme:
Will your bank give you loan if you don't have good credit score and good relationship with them..

Definition: Foreign exchange reserves are the foreign currencies held by a country's central bank. They are also called foreign currency reserves or foreign reserves. There are seven reasons why banks hold reserves. The most important reason is to manage their currencies' values.

How Foreign Exchange Reserves Work
The country's exporters deposit foreign currency into their local banks. They transfer the currency to the central bank.


Exporters are paid by their trading partners in U.S. dollars, euros, or other currencies. The exporters exchange them for the local currency. They use it to pay their workers and local suppliers.

The banks prefer to use the cash to buy sovereign debt because it pays a small interest rate. The most popular are Treasury bills. That's because most foreign trade is done in the U.S. dollar. That's because of its status as the world's global currency.

Banks are increasing their holdings of euro-denominated assets, such as high-quality corporate bonds. That continued despite the eurozone crisis. They'll also hold gold and special drawing rights. A third asset is any reserve balances they've deposited with the International Monetary Fund. (Source: "COFER Table," IMF.)


Purpose
Here are the seven ways central banks use foreign exchange reserves.

First, countries use their foreign exchange reserves to keep the value of their currencies at a fixed rate.

A good example is China, which pegs the value of its currency, the yuan, to the dollar. When China stockpiles dollars, that raises its value when compared to the yuan. That makes Chinese exports cheaper than American-made goods, increasing sales.

Second, those with a floating exchange rate system use reserves to keep their value of their currency lower than the dollar.


They do this for the same reasons as those with fixed rate systems. Even though Japan's currency, the yen, is a floating system, the Central Bank of Japan buys U.S. Treasuries to keep its value lower than the dollar. Like China, this keeps Japan's exports relatively cheaper, boosting trade and economic growth. For more, see How Foreign Exchange Markets Work.

A third, and critical, function is to maintain liquidity in case of an economic crisis. For example, a flood or volcano might temporarily suspend local exporters' ability to produce goods. That cuts off their supply of foreign currency to pay for imports. In that case, the central bank can exchange its foreign currency for their local currency, allowing them to pay for and receive the imports.

Similarly, foreign investors will get spooked if a country has a war, military coup, or other blow to confidence. They withdraw their deposits from the country's banks, creating a severe shortage in foreign currency. This pushes down the value of the local currency since fewer people want it. That makes imports more expensive, creating inflation.

The central bank supplies foreign currency to keep markets steady. It also buys the local currency to support its value and prevent inflation.


This reassures foreign investors, who return to the economy. (Source: "Central Bank Foreign Reserves," Monetary Bulletin, Central Bank of Iceland, 2005.)

A fourth reason is to provide confidence. The central bank assures foreign investors that it's ready to take action to protect their investments. It will also prevent a sudden flight to safety and loss of capital for the country. In that way, a strong position in foreign currency reserves can prevent economic crises caused when an event triggers a flight to safety.

Fifth, reserves are always needed to make sure a country will meet its external obligations. These include international payment obligations, including sovereign and commercial debts. They also include financing of imports and the ability to absorb any unexpected capital movements.

Sixth, some countries use their reserves to fund sectors, such as infrastructure. China, for instance, has used part of its forex reserves for recapitalizing some of its state-owned banks.

Seventh, most central banks want to boost returns without compromising safety. They know the best way to do that is to diversify their portfolios. That's why they'll often hold gold and other safe, interest-bearing investments. (Source: "Why Do Countries Keep Foreign Exchange Reserves?" The Economic Times, November 22, 2004.)

Guidelines
How much are enough reserves? At a minimum, countries have enough to pay for three to six months of imports. That prevents food shortages, for example.

Another guideline is to have enough to cover the country's debt payments and current account deficits for the next 12 months. In 2015, Greece was not able to do this. It then used its reserves with the IMF to make a debt payment to the European Central Bank. Find out more about the Greek debt crisis.

By Country
The countries with the largest trade surpluses are the ones with the greatest foreign reserves. That's because they wind up stockpiling dollars because they export more than they import. They receive dollars in payment.

Here are the countries with reserves more than $100 billion as of December 2016: