₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well

₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG - Politics (2) - Nairaland

Nairaland Forum › Nairaland General › Politics › ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG (8632 Views)

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Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by Lanruze: 6:16am On Sep 13, 2024*

With the devaluation of the Naira, any transaction done in FX will look like an exponential increase in volume.

Nigeria has an intelligent and brilliant set up. If we are to calculate "real growth", let the calculation be done in dollars and compared to last year's export value.

We can't keep deceiving gullible people specifically to make Government look good.

A ton of Gold last year was $60 million in FY 2022 and price remains marginally the same in FY 2023. However in naira equivalent. In 2022 Gold was N42B @ N900 - $1 and 2023 Year ended @ N1400-$1 =N78B.

Same amount in dollars but devaluation of the Naira makes it look like a significant growth.

Prof. Chukwuma Soludo noted this same "farce" when he noted the FAAC allocation that comes to States in FX ($) equivalent compared to what his predecessor earned during the Jonathan/Obj years in dollar($) equivalent was far more valuable.

Please stop deceiving us here.

6 Likes 4 Shares

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by Blazetrailer: 6:22am On Sep 13, 2024

Lol...watch people who dont understand economics or have half education jubilate over this irrelvelant nonsense.

THIS IS A NEGATIVE INDEX

If your trade volume is reducing and you are having a surplus, it is a very very potent symptom of a receding economy. If your trade volume is increasing and you are having a surplus, that is understandable

2 Likes 1 Share

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by Sijo01(f): 6:24am On Sep 13, 2024

Balablu keep beating his own drum of praises. Allow the citizens do the praising, druggy 😡

2 Likes

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by Lovenorth: 6:25am On Sep 13, 2024

Your people are currently hungry shows that you are wicked and corrupt

1 Like

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by okeyumez(m): 6:26am On Sep 13, 2024

Our economy is doing well on paper.

1 Like

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by malali: 6:30am On Sep 13, 2024

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by chidan1214: 6:30am On Sep 13, 2024

Nah STATISTICS WE GO CHOP shocked

thievnubu and him gang forget this statement

2 Likes

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by AntiChristian: 6:31am On Sep 13, 2024

May it grow to 10Trillion to 20Trillion and more soon!

May it reflect on the life of the masses!

2 Likes 1 Share

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by NOETHNICITY(m): 6:32am On Sep 13, 2024

Theses guys are separate from reality

1 Like

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by Calylove: 6:33am On Sep 13, 2024

Good news. Excellent. Just that prices of goods and services are still high and all country people are sighing grin

.

https://www.youtube.com/watch?v=BLpF-Ok0_yY

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by Offpoint1: 6:34am On Sep 13, 2024

phemmie06:
Who will do that ____________
A. Opposition party
B. Masses
C. Technocrat
D. APC members
E. International bodies

If A did it, .... You Will hear they never see anything good in this government, they're jealous

If it is done by B.... They are not speaking the truth cos they are Obidients, very lazy people

C. They want a share of the cake, they are quack, they're working for the opposition....

D. Are you a wolf in goat skin is what such will hear

E... They should not interfere with our situation

The masses owns the country, it's ours duty to save from iceberg she's heading towards before it's too late.

2 Likes

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by Kobojunkieee: 6:34am On Sep 13, 2024

thesolutions:
Trade surplus. What was government selling?
I believe they intend to say that import has reduced drastically owing to high exchange rate to dollar.

I was about to ask the same question. lipsrsealed

3 Likes 1 Share

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by Yankee101: 6:34am On Sep 13, 2024*

A balance of trade occurs when you import and export

Nigerians export almost everything

The fact that there’s a surplus’s indicates they’ve not been importing. Was it replaced by local production? No. Infact a lot of local companies have closed shop since Tinubu stole power. It’s collective poverty that’s causing the surplus which is mainly crude oil exports that go into the pocket of a few. Nigerians have collectively become poorer they can’t buy cars, phones, even rice from abroad like they used too.

4 Likes 3 Shares

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by Kobojunkieee: 6:36am On Sep 13, 2024

greenermodels:
Trade surpluses are supposed to lead to the strengthening of the local currency against the dollar and other foreign currencies but that is not happening in Nigeria because the Naira is currently been gang raped by foreign currencies. Nigerians wants positive results rather than media hypes.

😂😂😂😂😂 what a horribly crude way to say it. Indeed, the renewed Shege banza is real! undecided

3 Likes

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by CodeTemplarr: 6:42am On Sep 13, 2024

greenermodels:
Trade surpluses are supposed to lead to the strengthening of the local currency against the dollar and other foreign currencies but that is not happening in Nigeria because the Naira is currently been gang raped by foreign currencies. Nigerians wants positive results rather than media hypes.

They are lying. Using jargons to bully the majority in the dark. One propaganda aftee another. It shows they themselves have lost faith in any positive outcome. Sad

2 Likes

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by Godfullsam(m): 6:42am On Sep 13, 2024

Nigeria economy is doing well on papers.

Nonsense !

1 Like

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by RevenuesBoost(f): 6:42am On Sep 13, 2024

😄

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by CodeTemplarr: 6:44am On Sep 13, 2024

AntiChristian:
May it grow to 10Trillion to 20Trillion and more soon!

May it reflect on the life of the masses!

lol. What a sarcastic prayer. Those clowns are depending on unterpretation to confuse the majority. Did nigerias economy grew or shrank in relation to other economies in Africa? Thats a good point to start.

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by ReubenE(m): 6:44am On Sep 13, 2024

thesolutions:
Trade surplus. What was government selling?

I believe they intend to say that import has reduced drastically owing to high exchange rate to dollar.

Exactly

Government did nothing to grow the export sector. The margin in favour of exports is because of devaluation and more Nigerians are poorer now with local businesses closing down.

In the full report, they failed to mention in specifics what Nigeria is selling other than crude oil that they stated

2 Likes 1 Share

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by faithfull18(f): 6:44am On Sep 13, 2024

See our profile for the most affordable data bundles ever 💪🏽

1 Like

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by udemzyudex(m): 6:46am On Sep 13, 2024

Clowns

1 Like

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by pennyland(m): 6:46am On Sep 13, 2024

When Nigerians are staving you have not heard that report,but when you're being deceived that the Economy is doing well you can rushed to Media to announce that,

2 Likes 1 Share

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by adenigga(op): 6:47am On Sep 13, 2024

ebuk4real:

Before I say anything, let me curse all APC supporters: may thunder fire you all.

The fire that the country will experience will consume you all

Ah!!!! Take it easy ooooo......

1 Like

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by year2013: 6:47am On Sep 13, 2024

INTEGRITYA1:
We will get there.

Only you will be there

1 Like

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by Godfullsam(m): 6:48am On Sep 13, 2024

ebuk4real:

Before I say anything, let me curse all APC supporters: may thunder fire you all.

The fire that the country will experience will consume you all

May the same thunder fire APC, PDP, & LP supporters.

2 Likes 2 Shares

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by Snowx: 6:48am On Sep 13, 2024

What is wrong with this administration? I don't understand this cruelty in arrogance

1 Like 1 Share

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by CodeTemplarr: 6:48am On Sep 13, 2024

Lanruze:
With the devaluation of the Naira, any transaction done in FX will look like an exponential increase in volume.

Nigeria has an intelligent and brilliant set up. If we are to calculate "real growth", let the calculation be done in dollars and compared to last year's export value.

We can't keep deceiving gullible people specifically to make Government look good.

A ton of Gold last year was $60 million in FY 2022 and price remains marginally the same in FY 2023. However in naira equivalent. In 2022 Gold was N42B @ N900 - $1 and 2023 Year ended @ N1400-$1 =N78B.

Same amount in dollars but devaluation of the Naira makes it look like a significant growth.

Prof. Chukwuma Soludo noted this same "farce" when he noted the FAAC allocation that comes to States in FX ($) equivalent compared to what his predecessor earned during the Jonathan/Obj years in dollar($) equivalent was far more valuable.

Please stop deceiving us here.

We have clowns in power. Always twisting the gullible with jargons. In real terms the nation is heading back at a lightening speed.

1 Like

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by phemmie06(m): 6:50am On Sep 13, 2024

Offpoint1:
The masses owns the country, it's ours duty to save from iceberg she's heading towards before it's too late.

The masses own the country,;
How was the last protest carried out? Was the protest not a caged one.....What iwas the outcome of the end bad governance?

1 Like

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by Akwamkpuruamu: 6:52am On Sep 13, 2024

Please how does this data affect the common man? Transportation cost have risen over 40% and this wil rub off on almost all goods and services.

How's this good for the common man?

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by Essence20(m): 6:52am On Sep 13, 2024

Anything to make them feel alright, yeye government

Re: ₦6.95 Trillion Trade Surplus Record Shows Nigeria’s Economy Doing Well – FG by sko(m): 6:53am On Sep 13, 2024

What's the volume of this trade? The APC is an anathema.

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