₦airaland Forum

68816419:
foremost advantage of the forex serves is in meeting the international finance obligations including sovereign and commercial debts, financing of imports.
It helps in boosting the confidence of the market in the ability of a country to meet its external obligations.
Increases confidence of foreign investors and thus helps in boosting foreign direct investment (FDI).
RBI uses the forex reserves to adjust foreign exchange rate. In case of sharp fall in the foreign exchange value of the naira, R central bank sells the Dollar which appreciates the naira
The foreign currency assets are invested mainly in instruments abroad which have the highest credit rating and which do not pose any credit risk. These include sovereign bonds, treasury bills and short-term deposits in top-rated global banks besides cash accounts.

1. Nigeria's foreign reserve is not that large. It's just proportionately larger due to your large population but if we were to adjust it to per capita, it'll just be equal to Kenya's.

2. Your foreign reserve has clearly not served the purposes you claim:-

(i) Even after your debt was written off a few years ago, you've still managed to accumulate another large debt. Your foreign reserve is clearly not helping you meet your financial obligations.

(ii) Nigeria is still largely a subsistence nation with no industries worth speaking of despite being a top oil producer for over a half a century. Your foreign reserve has definitely not helped you attract investors.

(iii) You have one of the worst performing currencies in the world. Twenty years ago, the Naira was three times as strong as the Kenya shilling, ten years ago, the Naira was almost as strong as the shilling, right now, the Naira is over 3 times weaker than the shilling - so how are your foreign reserves helping adjust the value of the Naira?

Your argument is an epic fail Mr. Random Number. Go back to the drawing board and do your research well.

samsobo24:
if only about 10% of Nairobi buildings and the CBD are owned by aboriginal Kenyans.

I have researched about how Kenyans are still subjected to control by their colonial Masters.

Its a pity that Kenyan blacks don't have total control over the CBD.

An article says top notch estates in Nairobi are exclusive to the Whites.What a shame.

AND

we are tired of one section of Nairobi

What is the population of white people in Kenya?

Kur17:
For sure, u've done a great job for Nigeria... "You'll never be up to us" your Nigerian masters tells you as a send off tocken

Of late his Nigerian masters have been treating him epically well. First they said his country is owned by Indians, now they're comparing him to some insignificant rat that doesn't deserve to carry their shoes. Reminds me of the use and dump politics of Kenya. What happened to Annael?

tlann:
ati you will never be up to us kwani nani anadai kufanana nao

who would want to be like Nigeria surely?

68816419:
you lions should also laugh at your Fx foreign reserve.
hahaha

What's the point of a large foreign reserve when you have the second lowest life expectancy on the continent? Furthermore, relative to population, your foreign reserve is just as big as Kenya's.

Igbobyblood:
Do you know that insecure broke and unpopular kid in school that always like comparing itself with the big dog in school..

That's the problem with Kenyas.

Go down to your level.compare yourself with all these Mali, Chad,niger, Tanzania,ghana, and co.

You'll never be up to us

You're breaking Kazikazi 's heart again. He wants to be friends with you so bad.

Igbobyblood:
15% of Nigeria adults are unemployed compared to Kenya 50%.

No wonder there are many jobless Kenyas here..

And Kenya spent more on taxes, I just pity for them.

Kenyas are suffering o.. they make Les money and spent more on taxes with their useless economy.

Are you going to ignore the part from your useless source that says 70% of Nigerians live below poverty line while in Kenya it's just 36%?

Kur17:
This guy doesn't have a clue, u'll go thru hell educating him..

But they beat us on generator ownership per capita

I'm ignoring him���. Reminds me of Tanzanians. They'll come up with a ridiculous claim without any proof. When you state the opposite that's the truth, they sit back and ask you to back your claims.

Igbobyblood:
back it up na

When I say the sun rises from the East and sets in the West and someone asks me to back my claims I immediately know I'm dealing with a stupid fool.

darfay:
Nigeria has 3 tiers of government not 2

Federal government

State government (36 +Abuja)

Local government (774)

Total revenue is
Federal+state+local govt(774, most of which generate more revenue than 90% of your counties

Whatever man, just bring your total revenue and be done with it.

Igbobyblood:
Worthless bastard Kenyas.

I dare your foolish worthless race to show me one indices that you are better than Nigeria..

Why am I even talking to the worthless people seff when in next 20 years, half of your worthless economy will be controlled by Nigerians

We are better than Nigeria in ALL indices

1. Life expectancy
2. Literacy
3. People living above poverty level
4. HDI
5. Gini
6. Universities per capita
7. Schools per capita
8. Hospitals per capita


Practically, we beat you in every development index.

68816419:
why should I take Kenyans serious knowing fully well that no counties can generates what a middle states in Nigeria get to generates .?

Comparing revenue collection from our counties to your state's is just misleading and ego-massaging to your side. We all know these are two different countries with different constitutions - unless you bring us a breakdown of which taxes your states are allowed to collect vis a vis the same that our counties are allowed to collect. Bring me the total revenue collection by your government (Federal government + states) and we can compare with Kenya's total (National government + counties) then we can talk.

68816419:
what you guys fails to recognize is the fact Nigeria operates like a continent, they have their state capital's, all states care less on federal government on what they generates, they make and fund their budgets, they build state projects with their IRG some times external supports, they only get certain percentage of what federal government generates and allocate to them.

All these are useless as long as your total revenue collection is low. You can do a million subdivisions but your total revenue collection is still embarrassing, you could operate like a universe but that won't magical increase your revenue collection.

forgiveness:
Where did Lagos generates 20 times more than the whole Nigeria, huh?

If you were smart,I would explain. Unfortunately you're foolish.

Jonraid:
Lagos population is at 23 million in 2018 not 17m.It is best to put it over 21m! Mombasa is at 1.2m-1.4m!

That makes it even sadder.

forgiveness:
1. Who told you revenue is not collected twice in Nigeria?

2. Lagos state doesn't collect one Naira from the ports in Lagos rather the federal government does. No excuse for the unproductive 47 counties in Kenya.

3. That was how you people lied Kenya's counties have their own budgets. Liars.

Whichever way you argue, what matters is the total revenue collection by both countries in which Kenya collects more than Nigeria which is extremely embarrassing because Nigeria has 4 times more people than Kenya. It's like Rwanda or Burundi collecting more revenue than Kenya. All Nigerians should be ashamed of even commenting on this issue.

68816419:
show me where Mombasa generated more revenue than kano state not to mentioned Ogun, Rivers, Delta and lagos states.
.
Nigga kenya is too small to be compared with Nigeria..
what your TREASURY Board has to say

"Nakuru’s internally generated revenue also dipped by Sh400 million to Sh1.1 billion, according to the data by the Treasury, while Uasin Gishu collected Sh18 million less at Sh524 million.
On the flipside, Mombasa grew its revenues to Sh1.9 billion from Sh1.6 billion, while revenue receipts for Kisumu remained unchanged at Sh776 million.
Bomet grew its revenues 88 per cent to Sh197 million in the review period, Baringo by 10 per cent to Sh222 million while Bungoma’s receipts surged 61 per cent to Sh526 million."

What you don't understand is, in Kenya revenue is collected twice - by the county government and by the National government. The county government's revenue is limited to minor things like public parking revenue etc while the national government collects the bulk of taxes including VAT, Income tax etc. Whatever you keep throwing to us is a minute fraction of what is collected in Mombasa (remember Kilindini harbor in Mombasa is the third busiest port in Africa after Durban Richards Bay in SA so the port revenue also comes in) and if at all Lagos, a state of over 17 million people, collects a mere 880M USD of tax then you should be mourning rather than boasting.

68816419:
No, lagos generates 35% of internal generated revenue when combined with other states, and not Federal revenue,
the revenue generated are mostly from its tax and other agencies.
Federal government generates its revenue from oil, see ports, airports and other agencies alike. which mostly comes from the oil producing states.

Is that 320 billion USD or Naira? Because if it's USD then you're sick and need to see a doctor and if it's Naira then sit your ass down because even Mombasa collects more than that. Whichever way, you lose.

jaycent:
Hahahaha Oba my bro? It's been long bro, were having you been he also got whooped by her wife Genieluv

I see Obaboon is back and he can't resist throwing a shady shade at me. He's a stupid fence sitter though - says nothing of substance other than cheering idiots. He sits on the fence like a baboon.

68816419:
you can do the math your self.
lagos for instance generated around 320billion last year, but now generates over 400billion at half year 2018 analysis meaning it Will generate some thing close to around 800 billions naira ending of the year .
when we say Lagos economy is bigger and and better than Kenya economy, we ain't saying it out of blues but with valid figures and proof.

So Lagos generates 20 times more than what the whole of Nigeria generates yet Lagos is within Nigeria? This is the level of stupidity that's keeping Nigeria's life expectancy at the bottom of the continent.

...

Jonraid:
You have spoken nothing!

You guys never know the point when you have to ignore an idiot.

Kur17:
This normal in the capital of poverty and injustices

No wonder they have such a low life expectancy.

I'm told there's a Cholera outbreak in Maiduguri. Are those houses that people live in, in Maiduguri?

forgiveness:
You have seen 11. Now show me the full pictures of your 10 topped out skyscrapers. There might be foul play, you know.

Please, come back when you're well prepared. It's interesting how most Nigerians always resort to childish pull and push game whenever they can't handle facts.

forgiveness:
I have shown you eleven topped out. Even with that Kenya stands no chance with just 11 topped out. Bhuhahahaha!

Please, show me a list of your 13 skyscrapers.

forgiveness:
As far as I am concerned, it is not yet 100m. Still undergoing construction.

3 knocked out.

Show us your 13 skyscrapers. Stupid.

68816419:
"Sonko further claimed that the name of the site manager was missing from the charge sheet as he went on to accuse owners of the building of refusing to surrender the property.
The damning allegations also revealed that Avic International allegedly paid $2 million (Ksh.200,000,000) in cash to the previous administration as "protection fee".
The Governor also warned that county officials who have been linked to the construction of the Avic International building will be sent home."

Come back when you actually understand what is being discussed.

forgiveness:
Show me your fact and that stop that useless outdated tricks.

You show me your fact. A screenshot is all you got. You haven't even posted your 13 towers idiot.

forgiveness:
Avic Apartment.

Go to One Africa skyscrapercity thread. You will get the information there.

Even that Avic international is yet to be topped out and work has been suspended until further notice.

Stop being an Idiot, the tower was initially 24 floors 83m, it was revised to 30 floors 116m.

4kDdullard:
Go and die if it hurts, Nigeria remains the giant of Africa but a fool and pussy wouldn't understand. You this starving kibera slum dweller whose land has been grabbed by his klepto master.
How am I sure Kenyans are humans.

Sit down dullard, smart minds at work.

Ihaveleftnaija:
Chill down , why are you Kenyans always putting on panties? . Damn! You niggas are really a sensitive bunch. I can only imagine how the ladies are .

You've had a good run you little attention seeking fagg.ot. Now, won't you go get your asshole greased while we talk important things? Please, remember to grow a brain and come back with it because nobody's having time with your stupid ass. Stupid buttlicker.