₦airaland Forum

lexy2014:
oga, what was APC complaining about in 2015?

are you saying those in APC who said dollar was too high in 2015 that you supported didnt attend economics class in secondary school?

zero8zero:
Illiterate, can you tell the purpose of foreign reserves?. Naira is on eight months high but enemies of the state are scampering around with a foolish propaganda to console wailers. No peace for the wicked, God bless Nigeria.

omoredia:
Experts or fraudsters

Blazetrailer:
Lol....not sure you even passed near a primary school given the obtuse and asinine comments you make on topics you dont even have any idea about.

Blazetrailer:
Lol...since you know the purpose of foreign reserves....why dont you tell us?

zero8zero:
Election losers.

helinues:
Toh

Na only Nigeria opposition dey think say the dollar naira rate must return back to 2015.

Reasonable number of them did not attend the economics class in secondary school

Very illiterate set of people

tctrills:
The so called economic literate are in power and the economy is in shambles. Something is not adding up.

anonimi:
I care oh.
Asiwaju must deliver what Buhari failed to do.
This is what ọmọlúwàbís do- we deliver what we promise.

helinues:
How was your journey from Pluto? You must have been away for some time now

Racoon:
Now here are the fraudulent election winners indisputable record.
https://fij.ng/article/data-buhari-tinubu-took-nigerias-economy-18-steps-backward-in-9-years/

DeLaRue:
The naira is not even being subsidised now.

Some of this so-called experts don't even know what is going on.

1. During Mr Buhari's regime, the CBN was supplying about 65% of the total dollars sold in Nigeria.

2. As of today, that figure has fallen to around 3%!

3. Since December up to now, the CBN has been stepping in to buy dollars because more dollars have been coming into Nigeria than the market can absorb.

That situation can change but for about 3 months now, the net contribution of the CBN to the forex market is only about 3%.

That is a fantastic development.

The Naira is currently operating on its own based on market forces, with little to no net contribution from the CBN.

helinues:
Toh

Na only Nigeria opposition dey think say the dollar naira rate must return back to 2015.

Reasonable number of them did not attend the economics class in secondary school

Very illiterate set of people

Omooba77:
Owerri – The All Progressives Congress (APC) presidential candidate, Gen. Muhammadu Buhari, on Monday said he would ensure that the Naira was equal to the dollar in value, if voted into office.
Buhari stated this during the South-East presidential rally of the party at Dan Anyima Stadium, Owerri.

“It is sad that the value of the naira has dropped to more than N230 to one dollar; this does not speak well for the nation’s economy,’’ he said.
He urged the people to vote for APC, noting that he would ensure that corruption was tackled headlong if elected.

Earlier, Gov Rochas Okorocha had urged APC supporters to vote for the party’s candidates at all levels, noting that a vote for Buhari without support to others at the state would amount to nothing.
Okorocha said Buhari would address the problem of electricity, bring back the kidnapped Chibok girls and promote industrial growth.

He said that Buhari was loved by the people in the region and urged them to elect him and other APC candidates during the March 28 and April 11 general elections.

Former governor of Anambra, Mr Chinwoke Mbadinuju and former Minister of Education, Chinwe Obaji, were formally welcomed to the APC at the rally.

The rally was attended by APC supporters from Abia, Ebonyi, Anambra, Enugu and Imo. (NAN)


http://www.vanguardngr.com/2015/03/ill-make-naira-equal-in-value-to-dollar-says-buhari/#sthash.eALwzZ4V.dpuf

anonimi:
More illiterate than Buhari who promised to make it lower than what it was in 2015?
Or less illiterate that the old soldier T-Pain made into APC messiah of shege

helinues:
Toh

Na only Nigeria opposition dey think say the dollar naira rate must return back to 2015.

Reasonable number of them did not attend the economics class in secondary school

Very illiterate set of people

DeLaRue:
The naira is not even being subsidised now.

Some of this so-called experts don't even know what is going on.

1. During Mr Buhari's regime, the CBN was supplying about 65% of the total dollars sold in Nigeria.

2. As of today, that figure has fallen to around 3%!

3. Since December up to now, the CBN has been stepping in to buy dollars because more dollars have been coming into Nigeria than the market can absorb.

That situation can change but for about 3 months now, the net contribution of the CBN to the forex market is only about 3%.

That is a fantastic development.

The Naira is currently operating on its own based on market forces, with little to no net contribution from the CBN.

Ibusho:
The Federal Government on Friday received a $2.25b foreign exchange support facility from the African Import-Export Bank.

The Minister of Finance, Wale Edun, confirmed this to Arise TV, said it is the first tranche of the $3.3bn facility from the bank. He noted that the loan was aimed at resolving the acute FX shortage that has hampered the economy.

According to the report monitored by our correspondent, the balance of $1.05bn will be received in the first week of January.

Edun stated that work has commenced for solutions to Nigeria’s economic challenges.

In August, the Nigerian National Petroleum Company Limited announced that it had secured a $3bn emergency loan from the Afrexim Bank to stabilise the country’s volatile foreign exchange market.

https://punchng.com/fg-receives-2-25bn-afrexim-bank-loan/

DeLaRue:
The naira is not even being subsidised now.

Some of this so-called experts don't even know what is going on.

1. During Mr Buhari's regime, the CBN was supplying about 65% of the total dollars sold in Nigeria.

2. As of today, that figure has fallen to around 3%!

3. Since December up to now, the CBN has been stepping in to buy dollars because more dollars have been coming into Nigeria than the market can absorb. If the CBN has not been buying the excess dollars, the naira may have appreciated too fast, may be to N1400. That would have created a new period of instability. The CBN prefers the naira to gain or lose very slowly. That is what businesses and investors prefer. They don't want drama.

That situation can change but for about 3 months now, the net contribution of the CBN to the forex market is only about 3%.

That is a fantastic development.

The Naira is currently operating on its own based on market forces, with little to no net contribution from the CBN.

nairalanda1:
Well, had buhari done things like removing subsidy in 2015, and actually also removing subsides on power too, by now we would have been seeing light at the end of the tunnel

Even your beloved tinubu is still doing the same thing pdp did.

The oil era is over. Time for your government to sit up.

helinues:
Who is this?

nairalanda1:
Who is this?

DeLaRue:
Every time the Reserve goes down, Nigerians scream that it is due to the CBN using dollars to subsidise the naira.

That is not true.

On a day to day basis, money comes into and leave the Reserve. That is how a Reserve operates.

Do people even know that the government's foreign obligations are met from the Reserve, and that includes loans taken by previous governments.

World Bank loans can be for 20 years or more. So Nigeria still has to be paying back loans taken as far back as Mr Obasanjo's , Jonathan and Buhari governments.

These are being paid back from the Reserve.

The recent purchase of 8000 tractors from Europe will have been paid for from the Reserve, like many other obligations.

The balance in the Reserve will go up and down from day to day, week to week etc It is normal.

When it goes down, it does not automatically mean the CBN used the money to support the naira!

Ah, Nigerians.

anonimi:
Since you are the expert claiming that our currency is no longer subsidised, can you please tell us what T-Pain and his fellow progreThieves of APC have done with the Afreximbank loan.

helinues:
Yes who is this? Tell us who you are

zero8zero:
I asked the question.

DeLaRue:
The naira is not even being subsidised now.

Some of this so-called experts don't even know what is going on.

1. During Mr Buhari's regime, the CBN was supplying about 65% of the total dollars sold in Nigeria.

2. As of today, that figure has fallen to around 3%!

3. Since December up to now, the CBN has been stepping in to buy dollars because more dollars have been coming into Nigeria than the market can absorb.

That situation can change but for about 3 months now, the net contribution of the CBN to the forex market is only about 3%.

That is a fantastic development.

The Naira is currently operating on its own based on market forces, with little to no net contribution from the CBN.

Blazetrailer:
Fact 1: CBN still remains the largest supplier ofnForex in Nigeria. In 2024, CBN supplied $11.4bn to the Nigerian economy,mostly from tbe foreign reserves and other Capital importation means. This can be verified on any website on Internet. The 3% this dude below mentioned is a bloody lie. He doesn't know anything near what he is referring to.