Foreign Reserves Rise To $40.2 Billion In October – Cardoso - Politics (3)

Foreign Reserves Rise To $40.2 Billion In October – Cardoso - Politics (3) - Nairaland

Nairaland Forum › Nairaland General › Politics › Foreign Reserves Rise To $40.2 Billion In October – Cardoso (6516 Views)

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Re: Foreign Reserves Rise To $40.2 Billion In October – Cardoso by Lithiumite: 10:45am On Oct 25, 2024

olaiya2007:
Foreign reserve keep rising yet we keep borrowing

No govt can function without borrowing,it's what you used the borrowing for that matters.....Saudi arabia with all the petrodollars still seek lending from IMF and WB.

Re: Foreign Reserves Rise To $40.2 Billion In October – Cardoso by Lithiumite: 10:47am On Oct 25, 2024

Lifemanage:
Subsidies are normal. More like social intervention, as done in the UK and other climes. Leaving citizens exposed is a show of lack of empathy from the government. Robbing Peter to pay Paul

The reason for that is because truly Nigerian govt doesn't have deep pockets to sustain the type of welfare you get in the west except you have to go borrowing heavily again to do that and that wouldn't be a wise move at all.

Re: Foreign Reserves Rise To $40.2 Billion In October – Cardoso by Lifemanage: 11:00am On Oct 25, 2024

Lithiumite:
The reason for that is because truly Nigerian govt doesn't have deep pockets to sustain the type of welfare you get in the west except you have to go borrowing heavily again to do that and that wouldn't be a wise move at all.

With a reasonable tax system, it is a small money. Don't worry. Subsidising petrol use is simply cos of the lack of electric power. We are paying so much for electric power via petrol, and it applies to alot of businesses. The monies being used to sustain payment for legislature is a waste.

Re: Foreign Reserves Rise To $40.2 Billion In October – Cardoso by commoditiesnig(m): 11:33am On Oct 25, 2024

Good development

Re: Foreign Reserves Rise To $40.2 Billion In October – Cardoso by Coronavirus1: 2:17pm On Oct 25, 2024

And naira still a rocket science to appreciate?

Re: Foreign Reserves Rise To $40.2 Billion In October – Cardoso by lastkingsman: 2:24pm On Oct 25, 2024

Treadway:
false.

Maalu Buhari left about $36b in reserves. Ensure you know about these things before you comment on these sorta topics

Reserves = Assets + liabilities

You can only play with Assets. If Nigeria had 36b USD (assets) in foreign reserves, naira will crash below 800 overnight.

Don't anybody deceive you

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Re: Foreign Reserves Rise To $40.2 Billion In October – Cardoso by EdiskyHarry: 4:50pm On Oct 25, 2024

Rubbish

Re: Foreign Reserves Rise To $40.2 Billion In October – Cardoso by Gajagojo: 5:35pm On Oct 25, 2024

Basicend:
Your info explained just a fragment of the component of foreign reserves sir.

It's well. Kudos.

This makes you feel human I presume

Re: Foreign Reserves Rise To $40.2 Billion In October – Cardoso by Gajagojo: 5:36pm On Oct 25, 2024

DryMouth:
Just shut the f*ck up with rubbish you just explained.

Better go and apply for a refund for all the school fees your parents paid.

Your mother will shut up
Permanently

Re: Foreign Reserves Rise To $40.2 Billion In October – Cardoso by Treadway: 5:37pm On Oct 25, 2024

lastkingsman:
Reserves = Assets + liabilities

You can only play with Assets. If Nigeria had 36b USD (assets) in foreign reserves, naira will crash below 800 overnight.

Don't anybody deceive you

lol

Of course, I know that. I'm just someone who likes correctness of info...and yes maalu Buhari did leave gross reserves of around 36b (which is why I corrected that post), which when you take out the debt obligations will give you the net reserve value. What you're talking about in short is the value of the net reserves, and I already talked about that in the post before the one you quoted

Treadway:
they are trying to be smart by half.

Note how they did not and will not state the net reserve? It's there in the article that they get the question of net reserves a lot, and that they are still calculating it. Subtractions must be so hard🤣

Last time, na JP Morgan tell us the net reserve 🤣

With the new foreign debts of around $20b, the net reserve is already likely negative.

Re: Foreign Reserves Rise To $40.2 Billion In October – Cardoso by lastkingsman: 6:01pm On Oct 25, 2024

Treadway:
lol

Of course, I know that. I'm just someone who likes correctness of info...and yes maalu Buhari did leave gross reserves of around 36b (which is why I corrected that post), which when you take out the debt obligations will give you the net reserve value. What you're talking about in short is the value of the net reserves, and I already talked about that in the post before the one you quoted

Your post is 100% correct grin

. I didn't see the initial post. Lmao grin

Where EmiloCorn 🌽 won see 40bn USD?

T-pain is not ready to solve our issues. To fix Nigeria is very simple.

1. Sell 51%+ shares of NNPC in a transparent manner to players with technical capacity and deep pocket (capital) similar to nlng structure. This will give you inflow of at least 50bn USD.

2. Use 25bn USD to bring down your exchange rate to 750/$ so Nigeria don't suffocate. Use the remaining 25bn as counterpart contribution in ramping up crude oil production to 3m bbl per day within one year.

3. Re-orgainze the entire Nigeria security architecture. Just copy with PO did in Anambra in terms of local security.

4. Cut down drastically the cost of governance. There are so many solutions here but some require constitutional amendments.

5. Pursue rule of law to the highest point. Our corruption perception index should start dropping

If T-Pain can do all this, I can assure you Naira will go back to 400N/$ within 4 years but that's not who he is. He is here to enrich his cronies and family. If you doubt me, please check Oando stock meteoric rise.

Make everybody wait till 2031 because na Awa Lokan, EmiloCorn 🌽

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Re: Foreign Reserves Rise To $40.2 Billion In October – Cardoso by tnerro1(m): 7:57pm On Oct 25, 2024

Voodoo economics on the beat

Re: Foreign Reserves Rise To $40.2 Billion In October – Cardoso by PropertyOffers(f): 10:13pm On Oct 25, 2024

olaiya2007:
Foreign reserve keep rising yet we keep borrowing

Re: Foreign Reserves Rise To $40.2 Billion In October – Cardoso by Niceme2020: 6:48pm On Oct 26, 2024

If the foreign reserve cannot be spent,how did Jonathan expend the 65 billion dollars that Obasanjo left

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