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Nairaland Forum / Nairaland / General / Politics / Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years (10631 Views)
CBN Counters JP Morgan, Says Estimate Of Nigeria’s Net FX Reserves ‘misleading’ / CBN: Foreign Reserves Drop To $36.12 Billion / Oil Price Sinks To Lowest Level In 16 Years (2) (3) (4)
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Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by owiko(m): 5:02pm On Apr 17 |
5 |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by maxiuc(m): 5:02pm On Apr 17 |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Ebinpawo1: 5:02pm On Apr 17 |
Don't feel there is much problem in taking what you have to solve your problem... |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Appletek: 5:02pm On Apr 17 |
Julibet: Don’t only keep it close, why don't you buy more dollars? |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by nlreserve: 5:03pm On Apr 17 |
Chai. Normal normal, helinues go quickly comment to defend them but when he runs out of what to defend them with, he will go into hiding. Enemies of Nigeria! |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Hoelujohn: 5:04pm On Apr 17 |
Julibet:I am hungry, what should I do withmy dollars? |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Hoelujohn: 5:04pm On Apr 17 |
Julibet:I am hungry, what should I do with my dollars? |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by sweerychick(f): 5:04pm On Apr 17 |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by poiZon: 5:04pm On Apr 17 |
Golan007:Garri the most staple and commonest food for a common man is now out of reach from the common man. |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by ottersberger(m): 5:05pm On Apr 17 |
Racoon: The looting by Tinubu and his minions is currently in high gear. When they finish stealing what is at hand, they will borrow a lot more to steal. Nigeria, sorry!. |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by seguntijan(m): 5:05pm On Apr 17 |
PBAT administration met $34 billion in our foreign reserve June 2023. Off the top of my head :- -This administration paid $500 million Eurobond in July 2023. -Paid external debt in Q4- : $900 million -Paid CBN legacy debt of $7 billion -Paid ways and means debt of $4 billion That is $12 billion. I am aware the government also paid $1 billion to the USA government for weapons in November 2023 We don’t know how much credit line and importation has been paid for. We are yet to see what the government paid for external debt in Q 1 2024. But let’s cry, because we have a $32.5 billion in our reserves. $1.5 billion drop from where this administration met it despite over $12 billion expenditure. Poor reserve 😪😪😪😪. The government chose to defend the Naira instead of attacking the Naira 1 Like
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Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Theahabaman: 5:06pm On Apr 17 |
Ok,we see |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by ValarDoharis: 5:07pm On Apr 17 |
Give it up already! LegendHero: |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by HomoDroid(m): 5:09pm On Apr 17 |
If the powers that be would listen up, they should sell the entire FX Reserve,use the proceeds to crash the exchange rate and the balance to massively import equipment for mining, ores processing and Gold Refinery. The FG should then embark on aggressive purchase for storage the entire Gold refined in the country! We can also spread our reserves in the top three foreign currencies spread between the BRICS, the West and Brazil. This approach will put an end to the see-finish that USA in doing to us! But what does ordinary me know about national economics and fiscal policy? |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Image123(m): 5:11pm On Apr 17 |
Racoon: So it is now criminal to subsidize. These guys are clowns. |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Raynald: 5:12pm On Apr 17 |
Goodvibes007:Pls where did the government get money to pay all this? |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by LegendHero(m): 5:12pm On Apr 17 |
Quest7777: So Dangote refinery is not increased production? All those $$ we source to buy diesel, will we not be directing that demand for diesel import to somewhere else? Abi that dosen’t count as production to you? 2 Likes |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by deyplay: 5:16pm On Apr 17 |
Dittodat:you get a million? 1 Like |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by mightyhazel: 5:16pm On Apr 17 |
Wow.. what a record by bat.. bat has done what other presidents were scared to do.. our foreign reserves were busting at the seams.. constituting too much load on our reserves.. took only bat to reduce it for us.. Agbadorians 1 Like |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Ebeano49(m): 5:21pm On Apr 17 |
Cardoso is selling our scarce dollar to BDCs at artificially cheap rates just to force exchange rate down. He wants to enjoy momentary praise and look for who to blame when the proverbial shit hits the fan. This is not sustainable. US dollar is not Naira that we can print as much as we like. FX floating: reversed Subsidy removal: reversed Why then did BAT and his gang of baby economists subject Nigerians to the excruciating pain? 3 Likes |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Eriokanmi: 5:21pm On Apr 17 |
Akwamkpuruamu:Don't mind the jaujau man called Tinubu. He knows nothing about governance, only propaganda. He was the same man who brought us here . He was the one campaigning for Buhari in 2015, carrying him upandan in his private jet. All what Buhari was busy doing then was shaking the broom after each campaign programme. It was tinubu who wrecked the Nigerian Economy not buhari. He was the one who deceived Nigerians and painted Buhari white. He got to office and set nigeria backward by 40 years. Last night I heard on channels tv that Nigeria breweries wanted to shut down 2 of their facilities meaning more people will be thrown out of jobs. The minister of trade corroborated it. Sadly, only in Nigeria are all these happening. Multinationals are leaving in droves for Ghana, Ethiopia, Botswana and Kenya. Now the propaganda continues. Nigeria no wise at all. They will be wise someday. 1 Like |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Greenfaces: 5:23pm On Apr 17 |
So yall niggars thought the naira was just rising like auchi garri inside water? Haha! There's a lot padding and subsidies going on low key probably. |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Artscollection: 5:25pm On Apr 17 |
Oluwale boys on the beat!!! |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Elsueno: 5:25pm On Apr 17 |
Ok, this isn't funny anymore....Just WTF is going on. |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Kaiser20: 5:28pm On Apr 17 |
Akwamkpuruamu:Tinubu's SW support group can believe all propaganda from presidency , yeye people. 1 Like |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by IfnobeGod20: 5:28pm On Apr 17 |
Racoon:Using naira reserved to defend dollars while other reasonable countries of the world uses production of goods and services to defend dollars and strengthen their economy. You na Weldon gangan. Racoon, let them do the needful and stop this voodoo economy by encouraging production and investing heavily in agriculture and technology. This mechanic approach won't last for long before it bounces back and hurt the citizens the more. Ati wi ti wa o. Abo oro la nso fomo oluwabi to ba denu adodidi. |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by RisenObinna: 5:31pm On Apr 17 |
Goodvibes007:How much is a paint of Garri in your area? |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by rinzaugustine: 5:31pm On Apr 17 |
Lol abi we no talk am? Believe any propaganda from Agbado at your own risk |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by ecomalchemistt(m): 5:34pm On Apr 17 |
O fe gbe mi mora , barawo banza |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by IfnobeGod20: 5:36pm On Apr 17 |
LegendHero:You think only Dangote refinery can do the magic? Please continue deceiving yourself. The government also need to be involve in all strata of governments. Both local, state and FG. We need waking up as a people and country. We don't know what we are in. This sleeping Tinubu must wake up and engage in heavy production of goods and services with aggressive export. All this mechanical approach won't last. |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Kobojunkie: 5:37pm On Apr 17 |
Julibet:I think she said that because their seems a scheme to convince Nigerians that the dollar is the currency loosing it's value against the Naira when in fact all of this rollercoaster has been experienced by the Naira and the Naira alone. Imagine someone trying to tell me just some hours ago that the Dollar lost its value against the dollar. Shocked the hell out of me since the dollar wey dey my side never change at all in all of that time. 1 Like |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Kobojunkie: 5:38pm On Apr 17 |
IfnobeGod20:Pretty much a Government encouraged monopoly. Nigerians get to flush $2 billion down the drain all in order that Dangote's business can rise as savior for all Nigerians. Na. Wa oo! 1 Like |
You Will Vote And Live” – DIG Joshak Habila Assures Anambra People / President Buhari Receives Report Of State Financial Autonomy Panel / Adulteration Responsible For Fuel Scarcity – Vanguard
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