₦airaland Forum

localbreed:
This is not a fair fight. The US has much upper hands. All these countries rely heavily on the US import to grow their economy. Even the retaliation may harm their economy more than it would do to the US economy.

For fact check.. The US is China's biggest importer. The US import from China more than the whole EU combined.

As of Canada, they are literally reliant on the US importation (of raw materials).

EXOUSIAng:
I think you are the one who doesn't understand what reserve is for.
He just explained to you that reserves are npt just for savings yet you still went all about talking about savings....

There is not wisdom in playing woke when you are deep in ignorance

EXPRESSSMAN:
It does. Economic growth is different from Economic development.
In Nigeria, the government is celebrating increases in revenue to States and local government, increase in external reserves. These are Economic growth. They didn't translate to increase in people's welfare and standard of living which is Economic development.

Kreesxxx:
Naira will depreciate next week to balance price.

porthouse7:
if dollar dey go down CFA will also go down, CFA is pegged to the Dollar, the CFA countries are not doing anything better than Nigeria economically

BreconHills:
The reserves are not simply a savings account. It is also the place from which we pay out foreign obligations such as bond coupons, interest payments, mnc dividends etc. If these payments are not made then Nigeria credit rating will drop which will increase the cost of business.

So the drop to $39bn is nothing to worry about and it is not due to defence of the naira.

femisplash:
In simple terms, this new policy allows Nigerian exporters, particularly those trading with Francophone West African countries, to receive payments in CFA francs. This will help reduce the dependency on the US dollar for international transactions within the west African region.
The CBN’s decision comes amid persistent forex shortages in Nigeria, which have hampered the smooth repatriation of export earnings. Exporters can now bypass the hurdles associated with converting their earnings into dollars before accessing the naira. This is expected to enhance trade efficiency and boost Nigeria’s non-oil export revenues.

This also aligns with the African Continental Free Trade Area (AfCFTA) objectives and further boosts promoting intra-African trade.
Trust me, it is a game changer for Nigerian exporters, especially for SMEs who are often faced
with delays and losses due to forex bottlenecks,
This policy is particularly beneficial for exporters of agricultural products, solid minerals, and manufactured goods, who frequently engage in trade with neighboring countries like Benin, Togo, Niger, and Cameroon. These nations, which use the CFA franc, are key trading partners under ECOWAS framework.

The CBN will as a matter of importance, set an framework for the exchange rate mechanisms to mitigate exchange rate volatility and ensure transparency for both currencies.
According to COMTRADE, the trade export to Niger Republic, Togo, Cameroon, Benin was in volume of over half a billion dollars ( over $500 million dollars), it's quite significant.
This arrangement is similar to the $2 billion Nigeria-China swap deal, which will begin as soon as its frameworks are finalized.

BreconHills:
The reserves are not simply a savings account. It is also the place from which we pay out foreign obligations such as bond coupons, interest payments, mnc dividends etc. If these payments are not made then Nigeria credit rating will drop which will increase the cost of business.

So the drop to $39bn is nothing to worry about and it is not due to defence of the naira.

kingbee90:
Professor Ishaq Akintola is a proud Omoluabi son and well learned and sophisticated.

He knows what is best for his people.

TrackerSK:
We must have Sharia court in SW.whether you guys like it or not.

Wordsfrombimpe:
Lmao

Dey there na

Who no like better things

High value woman like good stuff and that’s on it period

dominique:
Oga na man you be, no amount of hormonal injections or surgery will alter your XY chromosomes.

Melezenawii:
Since taking office, the price of eggs has surged from $3 to $11, while gas prices, which had previously declined, are now rising again. Additionally, grocery prices are expected to worsen due to the deportation of immigrant workers in the agricultural sector.

Mom007:
Very clumsy and unintelligent approach to fishing. With just a bit of intelligence and skill, a better harvest with less time spent will be attainable but no, Niger own must different.

Plus, why taking the babies that can't fill your belly or anything meaningful? Why not toss them back to grow to table size? Pstcheew

Bendeco02:
He is their new adviser

They believe in him so much

Namaster:
First of all, you need to realise that depression is like body odour. It'll follow you EVERYWHERE you go.

If you feel so depressed that you're already suicidal, you need to get it treated ASAP.

DON'T let your depression push you into making a life-threatening MISTAKE.

TACKLE your depression in UK.
DON'T make any DRASTIC decision until you've done that.

If you think your life is HAR D in UK, Nigeria would make it look like a tutorial.

Returning to Nigeria should NEVER be an option unless you are 83 and waiting to DIE.

decatalyst:
Now they have International attention.

Ishilove:
You cannot understand. You cannot understand at all...

You cannot understand the richness of the colours of the commodities. When you feast your eyes on the wares, something calls to you and as a woman, you must respond. E dey our DNA. You cannot resist that call. YOU MUST ANSWER.

I fit stay for supermarket 3 hours, window shopping and touching things. Don't let me start on perfumes. When I am in that section, I must sniff ALL the perfumes on the shelves before my body go come down. The ones I can't sniff because they are sealed will have their ingredients and properties thoroughly scrutinised, and the day e enter my head, I stand there and google them online.

See, make I no write too much long story. Men will never understand jare

Wallade:
Hmmm. I guess she was too emotional about it. She could have just packed her things and equip herself to defend her case in court.

Government job is not to be taken personal.

eepeepook:
Another Nairaland celebrity.

lomprico:
This people don knack before.

DaddyCoool:
But she can still go to court and be reinstated with damages and backpay if the firing was indeed illegal

Wallade:
She is a career civil servant, not a political appointee. The executive president of USA can't fire her without justification and briefing the both houses of the Congress in the USA.

She has a good case against the sack. She should go to court.

Julius1995:
The opinion of a battered Nigerian. Do you not hear that there is protocol? She will go to court and probably be reinstated. What did you mean "the president firer a government employee"? You think this is Nigeria where the president is alpha and omega. Trump is obviously a third world country type leader who finds himself in a country like U.S.

CountinBlessins:
No one asked you, focus on your country! Ozuor!

How has Tinubu's policies affected your life?

AImiron:
She FAFO!! 🤣🤣🤣

Nlfpmod frontpage boss

Former USDA IG Phyllis Fong told government officials that that she didn’t recognize President Trump’s authority to fire her. She then refused to leave her office. Federal security agents were forced to physically remove her proving her firing was justified.