₦airaland Forum

Keep raising your stakes in other to attract investors.
But I think it's better to borrow the equivalence of the FX to safeguarding the economy from resetting to a default.

Kx:
You build forex reserves while the economy keeps several (about 9 alleged) different exchange rates?

You people are just so stupid. We have several rates because of plenty of idiots in our society. If you really have to import nonsense to the country, source for your own dollar. Is that too much to ask?

AND THEY WANT TO BORROW TO FUND BUDGET..MAKE THEM PARK WELL JARE..WITH THEIR VOODOO ECONOMICS

me69:
No point of having rising reserves if the Forex market lacks liquidity and the fundamental problem of efficient forex allocation is not addressed. When eventually the CBN start releasing Forex to people, the demand will be so huge that the reserves will again fall. Plus all these BDCs are just waiting for CBN to start selling at cheap rates so that they can change the nairas they bought at high rates from customers, when this happens it will be the biggest wealth transfer (pure money conversion, not based on production increase) ever seen in Nigeria. BDCs will be so rich that politicians will look like mere civil servants. And inflation will be soo high

No sir. People will re-engineer and Innovate and invent to look for alternatives to forex.They will sell unproductive assets, start being efficient.

.

Sunmolar:
Keep raising your stakes in other to attract investors.
But I think it's better to borrow the equivalence of the FX to safeguarding the economy from resetting to a default.

Borrow from whom? And repay the borrowed dollar from what?

God Bless Buhari and God Bless Nigeria .........only those that understood this will appreciate it

Yes and recession rises by 50%?
Is this the change we chanted and danced for?
We have been duped by Buhari, Tinubu and APC.

https://www.youtube.com/watch?v=CwidU88SNKI

A strong FR will bring back liquidity check the speculators who thrive on other people's anxiety and restore foreign investors confidence in the economy. But then if you don't still understand then it's non of my business, finish school first.

Adminisher:
You must be an Ijaw man. Sorry we are not running Nigeria with clueless Ijaw philosophy again. And yes there could be good in the fridge and the stomach stays have hungry. It is called "delayed gratification". All successful people in the world do it. Ijaws don't do it.

What point have you made? Where is the philosophy in this statement?

Waste of space

me69:
No point of having rising reserves if the Forex market lacks liquidity and the fundamental problem of efficient forex allocation is not addressed. When eventually the CBN start releasing Forex to people, the demand will be so huge that the reserves will again fall. Plus all these BDCs are just waiting for CBN to start selling at cheap rates so that they can change the nairas they bought at high rates from customers, when this happens it will be the biggest wealth transfer (pure money conversion, not based on production increase) ever seen in Nigeria. BDCs will be so rich that politicians will look like mere civil servants. And inflation will be soo high

Everything u wrote depends on how much the govt/cbn decides to sell. If they try to impress the populace by making forex rate low then the BDCs win, otherwise life goes on.

AnonyNymous:
Wow
In the midst of low oil prices they put policies in place (though harsh on citizens, but that's what we honestly need to learn to patronize our own) so that our reserves will keep rising.

While, one certain Otueke man managed to deplete our reserves from $47 billion to below $30 billion with nothing to show for it despite the fact that we had oil boom, also plunging us into $6.36 billion debt

Who told u there is nothing to show for it? Was rice not cheap? I mean, we used #51trillion to subsidise rice. . Children of 8 are coming for u.

theophorus:
Economist understand the effect of this. Please when analysing this Government try as much as possible to do it with all Sincerity in Wisdom.


#DevelopTakesTime.

Rising fx reserve is a good thing.

kunlexyfred:
Have u added Yakubu 9.8million to it?

......and Buratai's multi million dollar mansions in Dubai?

Where is prof. Pat Utomi and the senator Ben Bruce that have been making noises that the FG policies are wrong? PMB have now proved them wrong that applying theoretical knowledge alone from Cambridge or Oxford universities, is not enough to provide good leadership.
Where are the satanic Fayoses, FFK etc?

Keneking:
Ok

"He also disclosed that with the single-mindedness exhibited by the CBN governor to rebuild FX reserves, he has set a target to grow reserves to $35 by the middle of 2017 and $40 billion by the end of the third quarter of this year."

This statement is useless as there is huge backlog of forex requirement by students (schooling abroad) for tuition purposes and your government is not considering supporting them. I think this reserve build-up is unnecessary. Because the stomach can not be hungry, while soup is in the fridge.

Nonsense.

Shut up ignoramus
you want to school abroad? Source for your dollars abi you want poor Nigerians to subsidize dollar for your foreign education?

All those that don't want this government to succeed will start committing suicide one by one soon when the policies of this government start yielding result.

Keneking:
Ok

"He also disclosed that with the single-mindedness exhibited by the CBN governor to rebuild FX reserves, he has set a target to grow reserves to $35 by the middle of 2017 and $40 billion by the end of the third quarter of this year."

This statement is useless as there is huge backlog of forex requirement by students (schooling abroad) for tuition purposes and your government is not considering supporting them. I think this reserve build-up is unnecessary. Because the stomach can not be hungry, while soup is in the fridge.

Nonsense.

Same mindset that sent Jonathan to Otuoke.

Chop chop chop

Food food food.

Hunger hunger.

No plan for the future.

chibuzorAbia:
You people are just so stupid. We have several rates because of plenty of idiots in our society. If you really have to import nonsense to the country, source for your own dollar. Is that too much to ask?

People like to act like govt rape their mother. They think say gov na them fada.

AnonyNymous:
Wow
In the midst of low oil prices they put policies in place (though harsh on citizens, but that's what we honestly need to learn to patronize our own) so that our reserves will keep rising.

While, one certain Otueke man managed to deplete our reserves from $47 billion to below $30 billion with nothing to show for it despite the fact that we had oil boom, also plunging us into $6.36 billion debt

1)Can you ever comment without mentioning Jonathan?

2)How much debt do Nigeria have now under Buhari and what's the justification for them?

3)Increased reserve now is a product of increased output and high price of crude not any special policy or plan or action of this government...

theophorus:
Economist understand the effect of this. Please when analysing this Government try as much as possible to do it with all Sincerity in Wisdom.

#Develop TakesTime.

Do you mean development?
Did you say that you are an economist?
From where please?

OK!

louqas:
Shut up ignoramus
you want to school abroad? Source for your dollars abi you want poor Nigerians to subsidize dollar for your foreign education?

All those that don't want this government to succeed will start committing suicide one by one soon when the policies of this government start yielding result.

And you called someone ignoramus? How do you subsidize his dollar request?

No serious country is inrested in doing bussiness with Nigeria anymore with its 11 forex rates and its horrible business environment..Emelife's stronghjead is the main reason Naira is tissue paper,according to Bloomberg 2016

"he stuck to his foreign-exchange restrictions that have led to capital flight, curbed output in the continent’s largest economy and led to the naira dropping to a record low on the black market.

That is set to deepen the crisis for an economy that grew at its slowest pace in 16 years in 2015, is facing inflation of 10% and a record budget deficit to pay government salaries and build roads and power plants.
The currency controls have knocked investor confidence, with foreign inflows dropping by 32% last year, the Nigerian Stock Exchange said in a report on it’s website on December 19."

He should stop playing to the gallery when this administration is over we will know the full effect that damage Buhari and his gang of medicores inflicted onto us

students are not even waiting anymore, my sister had to source from the black market for her school fees

Keneking:
Ok

"He also disclosed that with the single-mindedness exhibited by the CBN governor to rebuild FX reserves, he has set a target to grow reserves to $35 by the middle of 2017 and $40 billion by the end of the third quarter of this year."

This statement is useless as there is huge backlog of forex requirement by students (schooling abroad) for tuition purposes and your government is not considering supporting them. I think this reserve build-up is unnecessary. Because the stomach can not be hungry, while soup is in the fridge.

Nonsense.

Good development but the issue of multiple exchange rates need to be addressed ASAP.

Foreign reserves going up, while the standard of living of the people is going down by the day... What an irony!

Contact us for all your roofing jobs and roof maintenance etc

When our foreign reserves was on $32bn in 2015 the exchange rate was N220 /$ .Let us see if $1 can now be equal to N1.

Standing5:
Everything u wrote depends on how much the govt/cbn decides to sell. If they try to impress the populace by making forex rate low then the BDCs win, otherwise life goes on.

smh...can government sell to BDC above government pegged official rate

incognita:
Gradually gradually we will get there, the country is facing a difficult time now,but things will get better that I know.

not sure about that ooo

wristbangle:
Good development but the issue of multiple forex traders need to be checked.

Which one is multiple forex traders?

NgeneUkwenu:
In the times of Oil Boom, The reserve kept depleting...

Under Recession, The Reserve Keeps increasing....



In fact This Man Below is really an ineffectual Buffoon!

See your DP like hippopotamus...