₦airaland Forum

Total exports nearly doubled.

Agricultural export more than trippled.

Local refineries started working.

Local government financial independence.

New exchange rate trading platform introduced this week already moderating naira/dollar rate.

If this man can get the tax reform bills passed. Hmm.

Aa soon as Mr Tinubu came into power and removed fuel and foreign exchange subsidies, I told everyone around me he was the best President since Mr Obasanjo.

With all the other reforms he has brought in and the result we are seeing, he has achieved more in less than 2 years than Messrs Obj, Yaradua, Jonathan (can't remember a single thing this man achieved), and Buhari.

His reforms will set Nigeria for greatness, provided the Presidents after him do not reverse them.

Unfortunately most Nigerians judge how well a President is doing by the relative price of a bag of rice, bread, garri, petrol etc So they'll tell you rice was cheaper under Mr Jonathan. That's all

That's all they care about, not foundational changes that will ensure that in the future, whatever the prices of those things are, the overwhelming majority will be able to afford them.

Na statistics we go chop?

All these figures are bloated by the massive devaluation of the naira that's taken place

A look at the numbers show a decline on all those indices

ivandragon:
Lol.

On the surface, not bad. But look deeper and do a comparative analysis, then you would fine the manipulations.

This is why they keep the exchange rate high so they can rollout fantastic figures like these to bamboozle unsuspecting Nigerians and provide fodder for thier social media m1screants to bleat about.

For context & comparism, before BAT's social media m1screants attack me.

Trade surplus was in 2014 was N1.4trn = $7.1bn (@N197:$1)

Trade surplus in 2024: N5.8trn = $3.8bn (N1600:$1)

You nailed it

AntiChristian:


Alhamdulillah!
May it translate to better condition of living for the masses!

Read the comment above you Islamic zombie

muykem:
You believe them on negative inflation rate but called the positive news propaganda.

Come are you normal or are you reasoning in reverse? You know that valuable imports have dropped. I am actually not surprised that the Nation will play this propaganda to make it seem positive. The same the Nation some time in Q2 this year complained about a drop in shipping numbers bringing imports. It is no about believing what is negative or positive, it is a question of the true picture of things.

There definitely will be surplus since the naira has been devalued. You'll get the real figures and percentages if you were to measure in dollars.

[quote author=seunowa post=133191833][/quote]This isn't rocket science though. if I exported $1mln worth of oil a year ago when exchange rate was $/740, that's N740,000,000.00.

Today, the EXACT SAME export is worth N1,650,000,000.00

Smithkafors:
Una no dey tire?. Fake figures up and down.

Smith why not share the correct ones?

ejieddy:
There definitely will be surplus since the naira has been devalued. You'll get the real figures and percentages if you were to measure in dollars.

Both imports and exports are measured in the same currency. The surplus is simply exports minus imports so it has nothing to do with the particular currency used.

Convert am to dollars

For hia

YoungLionken:
I thought we don't export nothing🤔...

Haha. Maka why. We do nah just it’s not much compare to our population..

Nigeria was exporting way much more even before oil was discovered in Nigeria. Life was very much better than..

I honestly don’t know if to call oil discovering in Nigeria a curse or blessings cuz ever since oil was discovered, these government just became lazy with their doings !

All this oluwole statistics from the discredited Nigerian bureau of statistics will take us nowhere.
Why do these guys so much believe in ruling through propaganda?

Kukutenla:
Read the comment above you Islamic zombie

Look for the Zombie at home around you!

Believeintruth:
See dude propaganda no dey sell. The reason for the so called surplus is that imports have reduced due to the high exchange rate and the high duties at the port.
For a 20ft container it cost about 22 million to pay duty and clear, coupled with the cost of freight and the goods.
If the cost is transfered to the customer how can they afford it, knowing fully well that purchase power has been eroded.

Believeintruth:
Are you naturally stupid or just dense? The same Nation Newspaper in Q2 this thread decried a drop in shipping numbers bringing necessary imports into the country.
If the government works, it is for the good of everyone, that is the thing you stupid paid APC goons don't understand, you think everybody criticising the government is not happy when they do the right thing.
But the fact is clear that there is a seeming trade surplus because people are no longer importing because the exchange rate is high and the customs duty is high as well.

This is how the economy can develop. Discourage imports and encourage local manufacturers which will lead to job creation and wealth for the citizens.

No country develops by just importing. In fact, what we were doing before floating the naira was to subsidize imports where people bring all kinds of rubbish into the country, because import was cheap.

Fools deceeiving themselves with useless propaganda. Using naira that has become worthless as evidence of surging exports? Why not calculate the figures in dollars and see if it hasn’t reduced drastically.

The drug lord and his gang keeps destroying the country while pushing propaganda to deceive gullible ones.

Magnetboss:
Only 5.8 trillion surplus? I thought It was 200 trillion surplus. Well this is news for the ronus to chew on and not me and reasonable Nigerians. crafty and dishonest government keep pulling out figures from thin air to deceive their gullible imbeciles while there's no evidence of progress on the citizens.

This news is trash. Ask those fools the value of naira a year ago before Tinubu & now. They quoted direct figures to compare with last year when naira was relatively stable to now.

After all exports are earned in dollars so they should quote the dollar figures and see how much damage Tinubu has done to the economy.

We have always had trade surplus

MrEverest:
This news is trash. Ask those fools the value of naira a year ago before Tinubu & now. They quoted direct figures to compare with last year when naira was relatively stable to now.

After all exports are earned in dollars so they should quote the dollar figures and see how much damage Tinubu has done to the economy.

Value of dollar backed with borrowed funds.

Ijaya123:
This is how the economy can develop. Discourage imports and encourage local manufacturers which will lead to job creation and wealth for the citizens.

No country develops by just importing. In fact, what we were doing before floating the naira was to subsidize imports where people bring all kinds of rubbish into the country, because import was cheap.

Oga stop being mischievous. Where is the ease of doing business? Can you swear that local industries source all raw materials locally? Even in Japan and other places in the west they import, but the idea is to ensure that your locally made products are affordable.

Nigeria my country

seunowa:
You are a disgrace to your parent. ignorant fellow

See this yansh man

Smithkafors:
Una no dey tire?. Fake figures up and down.

Not surprised coming from your types but if it's a negative statistics or reports u won't even blink the eye before sharing it with brute alacrity.

PressMyButton:
Put link
https://thenationonlineng.net/nigeria-records-n5-81tr-trade-surplus-in-q3-2024/

the natiom own by tinubu
..na wa ooo

Believeintruth:
See dude propaganda no dey sell. The reason for the so called surplus is that imports have reduced due to the high exchange rate and the high duties at the port.
For a 20ft container it cost about 22 million to pay duty and clear, coupled with the cost of freight and the goods.
If the cost is transfered to the customer how can they afford it, knowing fully well that purchase power has been eroded.

An import dependent economy is like a child that is fed through feeding bottle. This is what is being corrected. Buying and selling doesn't grow economy. It only makes a handful rich.

Y una dey fear to state the figures in Dollars but when you want to borrow money u will state it in Dollars. Wereys

Vision101:
An import dependent economy is like a child that is fed through feeding bottle. This is what is being corrected. Buying and selling doesn't grow economy. It only makes a handful rich.

Buying and selling and also manufacturing along with innovation grows an economy. This propaganda no dey sell again. Let this government work and if they cannot let them leave for more capable hands to do the job.

Very goodnews for us Non-oil export commodities traders. May God continue to bless our hustle🙏

akuko (story)

Nothing but made up paper work.