₦airaland Forum

The headline number fine, but wetin matter for small business na whether naira go stay stable for the next few months. Reserves fit rise and the rate wey you dey buy dollar still no really change. Una don notice any difference this month?

Gboss247:
For Nigeria defeat poverty, external forex reserve should be minimum of $1 trillion. This is achievable through manufacturing, exportation, less importation birth control.

And this is the pathway out of austerity, what government should be investing it's scarce earnings in....what we should be doing right now with all our night and all we have, not an emphasis on so called infrastructure, which is just a cover story for issuing contracts and receiving kickbacks.

KristinaTT:
The headline number fine, but wetin matter for small business na whether naira go stay stable for the next few months. Reserves fit rise and the rate wey you dey buy dollar still no really change. Una don notice any difference this month?

Whether the naira becomes more valuable than the dollar is all about balance of trade. Export more, import less and the naira will rise (though exporters will not like this).

Reserves are all about stability which is key for decision making at all levels of businesses and industries that interact with the dollar. Foreign investors look at this and are more comfortable with the fact that if they put their money in the country they are more likely to get it out.

However like I said there are many more factors that make a healthy reserve of any use to an economy.

All these mean nothing...
If the people can't have quality education.
If the people have no peace.
If the people are dying of disease and starvation
If nepotism and favoritism hold sway.
I

When will Nigeria's external debt become $0?

That is another good news that will unsettles criers from ndc and adc crooks.

Isobug:
Nonsense and irrelevant news, what's the effect to common man on the streets of Lagos to Zamfara to Abakaliki and to Plateau.
We want real human welfare development not one unreal paper economics

It is a pity you don't understand ECO-101.

I will simplify for you as best as I can: The volume of your foreign reserve is directly proportional to the value of your currency. A strong currency means we have greater control on our economy which is hugely dollar dependent.

Do you understand?

While over 17m Nigerians just entered poverty level.

PulaPower:
I just saw it on TikTok few mins ago..

Only one Jagaban!

Winning is for winners!

Congratulations to APC jagaban from $3b in 2023 at handover to $58b in 3 years and 5 months.
Cheering news to Nigerians except the obidients and Atikulooters like AMINDA LagosOrigin Penguin2 Rancoon etc.
Una mind no go rest even after the election.

panpan:
When will Nigeria's external debt become $0?

When Nigerians stop importing all kinds of foreign nonsense.

Frankly, the effect will gradually cascade down. We were the same people who used the depletion of the foreign reserves to prove former presidents were a success or a failure. Why won't we appreciate it now? .

Isobug:
Nonsense and irrelevant news, what's the effect to common man on the streets of Lagos to Zamfara to Abakaliki and to Plateau.
We want real human welfare development not one unreal paper economics

Jakarta:
Foreign reserves, wey dey reserve porverty.

Something important is very far from you. Pity

And poverty is spelt this way.

Isobug:
Nonsense and irrelevant news, what's the effect to common man on the streets of Lagos to Zamfara to Abakaliki and to Plateau.
We want real human welfare development not one unreal paper economics

The common man is not the be it and end it for Nigeria. We must give priority to the productive, industrious sensible men NOT the common man that is a burden on himself, his unfortunate family and the nation 🤷🏾‍♀️

Stanna2025:
The thunder that will fire Tinubu and this reserve is warming up. God punish you all and reserve while the masses struggle 😭😭😭

E no go betta for you and those useless and senseless masses…..

We no go use public funds to feed anybody.

Flangelo12:
Great news.

This new is not for economic illiterates.

We are moving. By end of this year it will be above $60 billion.
Implications:

Lenders will come begging Nigeria with low interest unlike before when we were chasing them.

Exporter will be comfortable dealing with Nigerians. We might return to the old order of importing based on bills for collection.

Naira will be strengthened.

Investors will rush back, economy will boom and sustainable prosperity will return.

What we are doing now is to build something on something unlike before when we were building something on nothing. Atiku and the gang wants to return us to this. God forbid.

Reference:
Whether the naira becomes more valuable than the dollar is all about balance of trade. Export more, import less and the naira will rise (though exporters will not like this).

Reserves are all about stability which is key for decision making at all levels of businesses and industries that interact with the dollar. Foreign investors look at this and are more comfortable with the fact that if they put their money in the country they are more likely to get it out.

However like I said there are many more factors that make a healthy reserve of any use to an economy.

A sound foreign reserve is for stability of our currency and confidence on the part of foreign investors.

Building our foreign reserve from $3b in 2023 to $58b in 2026 is commendable. We can now use our debit card anywhere in the world. Our Letters of Credit can now be honored for the purposes of importation.

I recall when we couldn't settle the foreign airlines and they stopped coming to Nigeria. I also recall when our students abroad couldn't use their debit cards.

Nigeria will surely be great again.

Well done Tinubu.

panpan:
When will Nigeria's external debt become $0?

Every nation takes loan. No nation is debt free.

Vision101:
We are moving. By end of this year it will be above $60 billion.
Implications:

Lenders will come begging Nigeria with low interest unlike before when we were chasing them.

Exporter will be comfortable dealing with Nigerians. We might return to the old order of importing based on bills for collection.

Naira will be strengthened.

Investors will rush back, economy will boom and sustainable prosperity will return.

What we are doing now is to build something on something unlike before when we were building something on nothing. Atiku and the gang wants to return us to this. God forbid.

Sad news for obidients and Atikulooters. Nigeria will be great again and the glory of Nigeria and Nigerians shall return during the time of Bola Tinubu.

Reference:
Whether the naira becomes more valuable than the dollar is all about balance of trade. Export more, import less and the naira will rise (though exporters will not like this).

Reserves are all about stability which is key for decision making at all levels of businesses and industries that interact with the dollar. Foreign investors look at this and are more comfortable with the fact that if they put their money in the country they are more likely to get it out.

However like I said there are many more factors that make a healthy reserve of any use to an economy.

Any idea why the master strategist has failed to export more and import less, to achieve N300/$1 short term goal since May 2023?

Was this another one of his many balablu bulaba empty barrel noise?

Majesty2:
The APC Presidential candidate, Asiwaju Bola Ahmed Tinubu, has revealed how he will drive the economy of the country, strengthen the Naira and making the country "import less" while "exporting more".




https://www.youtube.com/watch?v=kCskn6CbuqA

ibedun:
Something important is very far from you. Pity

And poverty is spelt this way.

Something unimportant kee you there.

PulaPower:
I just saw it on TikTok few mins ago..

Only one Jagaban!

Winning is for winners!

They have gone borrowing again. A massive one too. That's what has impacted the foreign reserves. Ask your government again in a month or two and it will have dipped again without commensurate infrastructure development to show for it other than election expenses.

abc115:
Nigeria’s Foreign Exchange Reserves Rose To $58.81 Billion Highest Since 2009



Source

Rosemary

This is Deep,A Good Omen,For Nigeria Economy 💪.
The World 🌍 may have to contend with Nigeria,if :
•Our Light 🕯️ 🚨 is Fully Restored 24/7,
•If Infrastructures Developments Projects 🛣️,Rail 🚂 and Other Infrastructures are Put in Place.
•If Industrial Generation Starts in Real Sector - Production in Cotton industries,
Including the Ajaokuta Iron Ore,
•More Refineries Are Built,
•Education is More in Science 🔭 🧪 Based,etc,this may be the Beginning of Economic Revolution - like the INDIA!

Typical mentally of black man, hair black heart black soul dark where do we go from here nowhere

Fearurcreeator:
Common man should stop being common . Anything common no too dey get value. You sef no like common things. Stop being common. Upgrade

And poverty rate today is the highest in 100 years.