Foreign Reserves Rise To $51.04 Billion, Highest Level In 17 Years - Politics (3)

Foreign Reserves Rise To $51.04 Billion, Highest Level In 17 Years - Politics (3) - Nairaland

Nairaland Forum › Nairaland General › Politics › Foreign Reserves Rise To $51.04 Billion, Highest Level In 17 Years (4704 Views)

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Re: Foreign Reserves Rise To $51.04 Billion, Highest Level In 17 Years by garykoeman: 8:06am On Jun 20

MrSly:
In 2014 SA had only about 15billion USD more than nigeria. In 2026 they have double of Nigeria's reserve. And emilokans are throwing owambe. That is how uninformed they are, from tinubu to all of them are very uninformed.

Go and sit down.

Enemy of progress. Are you not the same people celebrating ordinary road side gutter done by alex otti.

Hypocrite.

Re: Foreign Reserves Rise To $51.04 Billion, Highest Level In 17 Years by Elliotwaveforec: 9:48am On Jun 20

Tinubu, you're doing great with the economy! 95% for you.

Security? 1%! Remove Nuhu Ribadu, the fulaman as an adviser.

Re: Foreign Reserves Rise To $51.04 Billion, Highest Level In 17 Years by Believeintruth: 11:09am On Jun 20

blamingthedevil:
God Bless President Bola Tinubu
The Best President in the history of Nigeria

Hold on it is best you tell people the truth. What is the compositions of the reserves? How long can the funds stay in those reserves? What is responsible for the increase in reserves? These are portfolio money AKA hot money flowing in which doesn't stay. When the investors call in their funds, the reserves will crash again.

Re: Foreign Reserves Rise To $51.04 Billion, Highest Level In 17 Years by Gboss247(m): 11:12am On Jun 20

Yong4ever:
Despite subsidy removal this is what you can boast of, foreign reserve that should have been far more the current figure, yet you're borrowing, no positive impact on the masses, only showing figures on papers.

How is foreign reserves related to petrol subsidy removal?

Re: Foreign Reserves Rise To $51.04 Billion, Highest Level In 17 Years by Gboss247(m): 11:15am On Jun 20

Wakanakarue:
Foreign reserve keeps rising while Nigerians keeps getting poorer and struggling to feed and provide basics.

Something is really wrong with this voodoo economics of tinubu.

Rising?
What was the foreign reserve and it's per capita before APC came into power since 2015?

Re: Foreign Reserves Rise To $51.04 Billion, Highest Level In 17 Years by Bluntemperor: 11:33am On Jun 20

Let the Upward Swing Trajectory be PERMANENTLY maintained,
As India ove $500Billion- Dollars- Reserves is something worthy to Emulate By Nigerian Govt and the African leaders .
We don't Want these Reserves to go down again, under the Excuse that they are being Used for Political Campaigns.
God Bless Nigeria.

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Re: Foreign Reserves Rise To $51.04 Billion, Highest Level In 17 Years by Menclothing1: 1:19pm On Jun 20

The present man has done well by increasing it it was less than 15 during Jonathan

The best for Nigeria with this population is 150b dollars

Re: Foreign Reserves Rise To $51.04 Billion, Highest Level In 17 Years by Unibenfucker(m): 5:59pm On Jun 20

Nonsense we should having a foreign reserve of something like 100billion dollars since the exchange rate is almost times 4 of what he met it. Na so i go market square yesterday rice and chicken with salad wey I dey buy for like 5k dem don increase am to 6k market square bread wey I dey buy for 1500 na 1900 I buy am for market square na so i ask their girls wey happpen dem say its not their fault say na management increase am even gas is 2k per kg . God help us in this country

Re: Foreign Reserves Rise To $51.04 Billion, Highest Level In 17 Years by Yong4ever(m): 8:58pm On Jun 20

Gboss247:
How is foreign reserves related to petrol subsidy removal?

It reduces forex outflow for Imported subsidized fuel (e.g., Premium Motor Spirit in Nigeria) requires the government or state oil companies to heavily fund imports with scarce foreign currency. Removing the subsidy stops this constant drain on external reserves, leaving more dollars in the Central Bank's vaults.
have I answered your question now?

Re: Foreign Reserves Rise To $51.04 Billion, Highest Level In 17 Years by Gboss247(m): 9:04pm On Jun 20

Yong4ever:
It reduces forex outflow for Imported subsidized fuel (e.g., Premium Motor Spirit in Nigeria) requires the government or state oil companies to heavily fund imports with scarce foreign currency. Removing the subsidy stops this constant drain on external reserves, leaving more dollars in the Central Bank's vaults.
have I answered your question now?

How does petrol subsidy removal reduce the outflow of forex?

Re: Foreign Reserves Rise To $51.04 Billion, Highest Level In 17 Years by Yong4ever(m): 11:19pm On Jun 20

Gboss247:
How does petrol subsidy removal reduce the outflow of forex?

do you pay for subsidy in naira?

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