Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku - Politics (2)

Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku - Politics (2) - Nairaland

Nairaland Forum › Nairaland General › Politics › Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku (6430 Views)

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Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by donmixc: 7:53pm On Aug 21, 2025

Stop deceiving yourself, no be statistics we go chop😏😏

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by givedemwotowoto: 7:53pm On Aug 21, 2025

Apcshit:
Who told you Tinubu won in lagos? Dey play you hear me?

Read again

1 Like

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by MICHEALADEX(m): 7:53pm On Aug 21, 2025

israelmao:
Compare and contrast the suicide rate due to economic hardship between then and now?

Show me the numbers and I will take you seriously than ever.

Mr stomach infrastructure

2 Likes

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by casualobserver: 7:53pm On Aug 21, 2025

jmoore:
Our foreign reserve reached 47 billion dollars in 2018 under Buhari.

Buhari was paying subsidy and was defending naira.

Tinubu is not paying subsidy and has devalued naira.

Our foreign reserve should be hitting above 100 billion dollars currently.

I have engaged you in the past to know you didnt have much in grey matter at the time but it seems it reduces with every post you make. Personal advice stop moving around with Obidients........you become the company you keep.

https://www.reuters.com/markets/currencies/nigerias-net-fx-reserves-hit-three-year-high-central-bank-says-2025-04-02/

Buhari only left $3.9B of net foreign reserves, the rest was encumbered!

ABUJA, April 2 (Reuters) - Nigeria's net foreign exchange reserves stood at $23.11 billion at the end of 2024, their highest level in three years, the Central Bank of Nigeria said, signalling a major improvement in the country's external financial position.
The NFER, which adjusts gross reserves to account for near-term liabilities such as currency swaps and forward contracts, stood at just $3.99 billion at the end of 2023, the CBN said in a statement late on Tuesday. The figure was $8.19 billion in 2022 and $14.59 billion in 2021.

this is from reuters, this is not sourced from motor park or beer parlour.

6 Likes

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by Apcshit: 7:54pm On Aug 21, 2025

Thundafireseun:
A lot of you are just praying for bad and negative news…..

Nigeria shall be great IJN AMEN

How is it news that it isn't true

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by elasticlala: 7:58pm On Aug 21, 2025

Nonsense!

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by WorldRichest: 7:58pm On Aug 21, 2025

Take the war to the enemies’ bedrooms. Bayo, I sight you. If dem no talk, go dip fingers for their eyes.

2 Likes

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by israelmao(m): 7:58pm On Aug 21, 2025*

MICHEALADEX:
I don’t like this who only understand economics based solely on the numbers of seeds of rice or beans 🫘 on their plate.

They make me vomit 🤮

"They make you vomit" because you do care about the dredge of the society who stood in cold and sun to cast their votes for the purported renewed hope.Economy that is not impacting lives that it should.The economy that is not impacting positively on ordinary Nigerians how you would describe that?

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by WorldRichest: 8:00pm On Aug 21, 2025

jmoore:
Our foreign reserve reached 47 billion dollars in 2018 under Buhari.

Buhari was paying subsidy and was defending naira.

Tinubu is not paying subsidy and has devalued naira.

Our foreign reserve should be hitting above 100 billion dollars currently.

You know what? You have some pints there. Truly, even a damaged clock is right twice in a day

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by israelmao(m): 8:02pm On Aug 21, 2025

MICHEALADEX:
Show me the numbers and I will take you seriously than ever.
Mr stomach infrastructure

Mr.Economist these statistical data should be at your fingertips.How many suicide cases were reported during Obj and GEJ regimes put together on account of economic hardship?

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by jogojogo: 8:27pm On Aug 21, 2025

jmoore:
Our foreign reserve reached 47 billion dollars in 2018 under Buhari.

Buhari was paying subsidy and was defending naira.

Tinubu is not paying subsidy and has devalued naira.

Our foreign reserve should be hitting above 100 billion dollars currently.

Why didn't you praise Buhari in 2018?
If you are quick to remember history, then you should not forget how poorly Obi performed as a Governor

2 Likes

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by honesttalk21: 8:28pm On Aug 21, 2025

jmoore:
Our foreign reserve reached 47 billion dollars in 2018 under Buhari.

Buhari was paying subsidy and was defending naira.

Tinubu is not paying subsidy and has devalued naira.

Our foreign reserve should be hitting above 100 billion dollars currently.

Why Nigeria’s Forex Reserves are Still at $41 Billion?

This because though reforms helped, but from a weak base even if Subsidy removal and naira devaluation slowed reserve depletion, these reserves were already low due to past mismanagement.

Debt and obligations weigh heavily so External debt service, import bills, and fiscal pressures limit reserve accumulation.

Rebuilding reserves is a long-term process, not an overnight turnaround.

Why Not Back to $47 Billion Yet?

Past depletion created a deep hole. Structural fiscal weaknesses persist (weak revenue base, reliance on borrowing). Ongoing obligations (debt repayments, imports, subsidies arrears) restrict faster growth.

Bottom Line is that Nigeria’s reserves at $41B signal stabilization, not full recovery. Tinubu’s reforms stopped the slide, but returning to historic highs will require; Sustained fiscal discipline. Diversified revenue generation. Broader economic stability.

3 Likes

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by jogojogo: 8:29pm On Aug 21, 2025

AMINDA:
Bayo Onanuga has since lost the plot. Everything he does seems geared to gain the validation of the opposition. Shouldn't he be communicating directly to Nigerians on what Tinubu has done instead? He seems to mistake his role for a campaign spokesman than a presidential spokesman that he is.

He doesn't need the validation of the enemies of Nigeria. He is just exposing them for whom they are.

3 Likes

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by jogojogo: 8:31pm On Aug 21, 2025

givedemwotowoto:
In 2023, most people in Lagos voted against Tinubu. The same people voted for Sanwo Olu and other APC members at the state and local level. Now Nigerians are experiencing the most extreme hardship and insecurity from day 1 of his government.

2027 is going to be a massive vote against Tinubu regardless of party affiliation.

Yes of course. I saw how Nigerians voted massively against Tinubu last Saturday

4 Likes

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by givedemwotowoto: 8:34pm On Aug 21, 2025

jogojogo:
Yes of course. I saw how Nigerians voted massively against Tinubu last Saturday

You mean Tinubu contested at the by-elections but INEC didn’t tell us? Because last time I checked, when his name was on the ballot, people voted for opposition.

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by jogojogo: 8:34pm On Aug 21, 2025

PlasmaTV:
This is laughable

What has happened to the excess money saved from subsidy removal?

Una dey whine?

What has happened?
You asked?
Go and check the faac monthly record .
Check the amount disbursed to States and LGA. Come back and I will direct you where the left over is

3 Likes

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by Lithiumite: 8:35pm On Aug 21, 2025

israelmao:
Compare and contrast the suicide rate due to economic hardship between then and now?

Can you avail us the data and let's compare

2 Likes

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by Ibehchizzy: 8:37pm On Aug 21, 2025

Propaganda no go finish una

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by nihale01(m): 8:42pm On Aug 21, 2025

At the detriment of it local production

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by israelmao(m): 8:43pm On Aug 21, 2025

Lithiumite:
Can you avail us the data and let's compare

Why can you do just that?

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by Lithiumite: 8:45pm On Aug 21, 2025

israelmao:
Why can you do just that?

You brought it up,I don't know where you got your data from .....why peddle falsehood just because you want to denigrate the govt

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by Thundafireseun: 8:46pm On Aug 21, 2025

Apcshit:
How is it news that it isn't true

You can only see good when you want to see good things….meanwhile winches wizard can’t stop President Tinubu from making Nigeria great

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by jogojogo: 8:48pm On Aug 21, 2025

israelmao:
Compare and contrast the suicide rate due to economic hardship between then and now?

Oya give us the statistics of suicide. No include the man in mabatoli thT committed suicide because somebody was allegedly funking his wife

1 Like

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by jogojogo: 8:52pm On Aug 21, 2025

MICHEALADEX:
I don’t like this who only understand economics based solely on the numbers of seeds of rice or beans 🫘 on their plate.

They make me vomit 🤮

Don't mind the price of rice and garrri gangs.
Very boring and stale songs. They are hungry but have time and data jumping from one post to another on nairaland hunting for bad news like their mentor

1 Like

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by tnerro1(m): 9:00pm On Aug 21, 2025

And yet people cannot feed well, someone once said, “ na statistics we go chop” I forget who sha🤔🤔

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by Rebelutionary: 9:09pm On Aug 21, 2025

AMINDA:
Bayo Onanuga has since lost the plot. Everything he does seems geared to gain the validation of the opposition. Shouldn't he be communicating directly to Nigerians on what Tinubu has done instead? He seems to mistake his role for a campaign spokesman than a presidential spokesman that he is.

When did you become some emergency judge on how Onanuga communicates his message?
Even when obviously he doesn't speak for "you", you still find it necessary to "chook" your mouth into what doesn't concern you!
It's obvious when you have nothing of worth to say, this is what you spew!
He has spoken and we hear him loud and clear and if you can't stomach it, there's more coming just so you know!

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by oyebanji(m): 9:11pm On Aug 21, 2025

"Taunts"

nairalandkachy1:
@BayoOnanuga

https://www.facebook.com/share/p/1FDVPhnjLS/

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by immaculatesense(m): 9:14pm On Aug 21, 2025

jmoore:
Our foreign reserve reached 47 billion dollars in 2018 under Buhari.

Buhari was paying subsidy and was defending naira.

Tinubu is not paying subsidy and has devalued naira.

Our foreign reserve should be hitting above 100 billion dollars currently.

See story.
How much did your Buhari leave in the fx reserve as at May 29, 2023?
Answer na.
No Be Juju Be Dat?

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by Papasland21: 9:18pm On Aug 21, 2025

You have only one vote, so speak for yourself, don't equate yourself as the new Aláàfin of Yoruba land.

givedemwotowoto:
In 2023, most people in Lagos voted against Tinubu. The same people voted for Sanwo Olu and other APC members at the state and local level. Now Nigerians are experiencing the most extreme hardship and insecurity from day 1 of his government.

2027 is going to be a massive vote against Tinubu regardless of party affiliation.

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by Walai(m): 9:18pm On Aug 21, 2025

Under GEJ no one complained of hunger.
Everybody was well fed. People had varieties of cheap rich food to choose from.
Valuable money circulated and civil servants bought cars and built houses

Lithiumite:
Tell me anytime people on the streets have never complained of hunger or inflation since independence.....rice and pms was more expensive under GEJ than it was under obj,you mean to tell me there was no hunger then.

Re: Nigeria's improving external reserves: Onanuga taunts Obi, El-Rufai, Atiku by givedemwotowoto: 9:22pm On Aug 21, 2025

Papasland21:
You have only one vote, so speak for yourself, don't equate yourself as the new Aláàfin of Yoruba land.

But I’m talking about the millions of people who voted against Tinubu but voted for Sanwo Olu and others. Tinubu’s policies impoverished millions, how will they now vote for him after voting against him and seeing that things got even worse?

We should be talking about those who voted for him but now regretting, now waiting for him in 2027

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