₦airaland Forum

ZarahBuhari:
An imaginery foreign reserve figures when Buhari & his 40 gang thieves have run this country into debts.

Tell me another story.

This thread is for block headed zombies

You are a cretinous fuuktard!

Ikwokrikwo:
Debt is growing at more than double the rate of the reserves.

So typical of this deceptive government.

And so?

NgwaManNaija4LF:
The people you mentioned are greater than your entire tribe and their supporters combined, nut head why can't you excel like them. Mumu boy with an iliterate president.

You are a cretinous fuuktard if you think majority of those listed there "excelled".

Quincykay:
I hope people realize that this is how to grow a country and enrich its people. By making the economy strong. Not by sharing money during elections. But I'm sure some will disagree.

Well said!

Sagamite:
You are a cretinous fuuktard!

Like your parents

Modarun:
I trust the largely ignorant Hailers to make alot of noise about nothing. You guys are just so gullible and naive. Your foriegn reserve is increasing so also you have a record never been attained debt profile. Whats there to be jubilant about? that we are plunged into more poverty or debt? whats the use of having a Father with millions in his account yet all your children are starving, either way we are at a stand still. Yes every country have to borrow, whats important is where you spend.m the money? where is Buhari did Buhari spend 11trillion he has so far borrowed? You are blaming PDP but fact is the PDP only borrowed in total 6trillion, this demonic poverty creating APC have so far borrowed close to 12trillion. Question is where exactly can yhey say they have spent that money on?

You are a cretinous fuuktard.

What record has never been attained in Nigerian debt?

lastempero:
I thought a high foreign reserve will make the naira stronger n appreciate more but its been stagnant despite the rise,Is there any other thing they are hiding from us.

Don't think, go and learn.

truthstands12:
Can we know how much they have borrowed within their 3years in power? And can they publish what they did with the huge amounts? That will balance this report. Don't only tell us how much in the reserve, also tell us how much you people have borrowed.

Very good point and good demand.

ZarahBuhari:
Like your parents

Your entire lineage are cretinous fuuktards.

[size=15pt]Buhari is my 2019 candidate take it or leave it. Because of 1) TSA 2) Workers at the Federal Level were not laid off 3) Federal Workers are paid without default 4) State Govt are paid monthly allocation without default [/size]

Sagamite:
You are a cretinous fuuktard if you think majority of those listed there "excelled".

No they are not, give me the name of your father let me check if he is more important and popular than them. Ewu Asaba.

NgwaManNaija4LF:
No they are not, give me the name of your father let me check if he is more important and popular than them. Ewu Asaba.

You are a cretinous fuuktard!

Moronic product of a failed education system.

Being popular and important is the definition of excel in your reetarded world?

Black monkeys! Dumb as fck!

Moronic fuuktard, go and watch your "excelling people" on BBN!

Sagamite:
What a fuuktard statement.

Has debt killed USA?

What do you understand by debt?

Why can't one have rising foreign reserve and rising debt?

So Nigeria is now like USA?

What an economist

Pesuzok:
Go and check how much US is owing

You are now at the level of USA right?

So your N1 = 1$ right?

What an economist!

GavelSlam:
All countries incur debt.

Just say you want to wail.

Religion

SillyMods:
PMB is determined to build Nigeria. We only need to be patient and watch him make us proud.

Imagine what a president who could add over $23bn to the reserves in less than three years despite a significantly diminished earnings will achieve with surplus income!

PMB is the best president we've had since 1999.

bastard everywhere

Modarun:
I trust the largely ignorant Hailers to make alot of noise about nothing. You guys are just so gullible and naive. Your foriegn reserve is increasing so also you have a record never been attained debt profile. Whats there to be jubilant about? that we are plunged into more poverty or debt? whats the use of having a Father with millions in his account yet all your children are starving, either way we are at a stand still. Yes every country have to borrow, whats important is where you spend.m the money? where is Buhari did Buhari spend 11trillion he has so far borrowed? You are blaming PDP but fact is the PDP only borrowed in total 6trillion, this demonic poverty creating APC have so far borrowed close to 12trillion. Question is where exactly can yhey say they have spent that money on?

You are the most ignorant & gullible person I have ever noticed. You don't have to display such ignorance on technical matter in public. You mentioned trillions to seek sympathy of fellow ignorant & gullible Nigerians. You forgot PDP took $1 billion loan in 2015 few weeks to election. How you come about 12 trillion debt under PMB & 6 trillion under PDP I don't know.

PDP spent the $50 billion left by OBJ in 2007 leaving only little above $25billion as at May 29 2015. All the oil sold for many years despite oil selling up to $140 / barel was spent, no saving. They ended up borrowing heavily. What economic analysis or mathematical equation can you use to compare the two scenarios.

Oil was $45 / barel when OBJ negotiated debt cancellation.

NairaMaster1:
So Nigeria is now like USA?

What an economist

What you dumbly said was that "Nothing kills a nation like debt".

So you are the economist!

Now answer my damn questions:

Has debt killed USA?

What do you understand by debt?

Why can't one have rising foreign reserve and rising debt?

I want to learn the economics you learnt. Helep mi! I dey beg.

edunwablog:
The naira remains stable at the official and parallel markets, with the foreign exchange (forex) reserves standing at $46.7billion, a report by Exotic Capital, an investment and research firm, has said.

The naira exchanges at 362 to the dollar in the parallel market and 305.6 in the official market. It has remained at those rates since April, last year, after the Central Bank of Nigeria (CBN) resumed forex interventions in the market.

The report said although the level of reserves was still below the record high of $64 billion realised in August 2008, it is nearly double the $24 billion recorded in October 2016, increasing by more than $22 billion in 15 months.

The reserves hit $46.7 billion on March 29, from just over $23 billion in October 2016, as the economy continues to attract huge investment inflows from foreign investors.


The economy benefited from increased forex supply with over $20 billion inflow to the Investors’ & Exporters’ (I&E) Forex Window since inception in April 2017.

The report said the macro fundamentals suggested the Central Bank of Nigeria’s (CBN’s) appropriate reaction function would have been to hold rates unchanged as it did in last week’s Monetary Policy Committee MPC meeting.

“We have written extensively on Nigeria’s multiple exchange rate system and will abstain from further discussion at present, suffice to say that a fairly valued naira at 360 to the dollar combined with high domestic rates has led to a tremendous increase in the level of gross foreign reserves held at the CBN,” the report said, adding:

”With reserves at their current levels, it is easy to imagine the MPC being in a position where it could afford to cut as it is less dependent on attracting dollar inflows than it has been to both build reserves and stabilise the naira.”

A similar report by FBN Capital, titled: “Towards the $50 billion threshold, and counting”, said the rapid accumulation of $15.96 billion over 12 months was due to two sizeable Eurobond launches, a small diaspora bond issue, the recovery in oil export revenues (through the Nigeria National Petroleum Corporation’s share of production and, more recently, the steady bid by the CBN at the I&E Forex window.

“We should stress that the data are gross and mask the swap transactions the CBN has entered into with local banks. The steady bid by the CBN has been seen variously as a response to the softening of demand for forex by importers and other economic actors, and as a move to contain naira appreciation,” the FBN Capital said, adding:


“The CBN will be pleased with the healthy signals from I&E Forex window where the weekly average has now settled above $1 billion. Reserves at end-March covered 17 months’ merchandise imports, and 10.9 months when we add services. These calculations are based on the balance of payments for 2017. The ratios are a little less impressive, but still robust, if we use the measure of current account payments (including income debits) favoured by the ratings agencies.”

Before the stability in the forex market and naira, the economy witnessed a depressed Gross Domestic Product (GDP) growth, which culminated in a recession in 2016. There was also rising inflation, which peaked at almost 19 per cent in January 2017 and a persistently rising unemployment rate to 14.23 per cent in 2016 fourth quarter from 6.41 per cent as at 2014 fourth quarter. There was also a significant depreciation of the exchange rate, reaching N525 to $1 in February 2017 and witnessed a fast depletion of the reserves which bottomed out at about $23.6 billion in October 2016 from as high as $40 billion in January 2014.

http://www.akelicious.net/2018/04/467b-foreign-reserves-keep-naira-stable.html

We do need 46 billion dollars as foreign reserve.

We need :

Good roads.
Oil refineries.
Power Plants.
Portable water supply.
Improved healthcare facilities.
Massive investment in agriculture.

Sagamite:
You are a cretinous fuuktard!

Moronic product of a failed education system.

Being popular and important is the definition of excel in your reetarded world?

Black monkeys! Dumb as fck!

Moronic fuuktard, go and watch your "excelling people" on BBN!

Yaba left.

Debt profile has always been there from time immemorial. We tank God for a responsible government and a considerate president.

NairaMaster1:
What of the debt profile? Please let's face reality than sentiment.

Nothing kills a nation like debt.

Growing debt and FR simultaneously amidst hardship?

joey150:
Typical Nigerian mentality.

Always thinking they deserve everything on a platter with top and ribbon.

Why must government always start up something?
Why don't we have forward thinking people?

Nigerians rely on the government for everything.

I didnt say government should help youths startup anything, I said govt should make policies that will encourage more youths to startup legal online business.

One of such policies include: creating internet startup hubs in major Nigerian cities where youths can go to have access to subsidized internet access and also network with fellow like-minded youths.

Creating tech centers with well trained team where youths can be trained in high tech skills they can use to start up their own tech or internet business.

These are some of the things the government can do to encourage online business growth among Nigerian youths and in few years to come, Nigeria will become a major tech hub of the world exporting tech skills and products.

Next time before u attack someone online, look at who and check that person's background because you maybe attacking the wrong person cos not everybody u see on nairaland is operating at your speed, have a great weekend.

NairaMaster1:
That you are credit worthy means you should be indebted?

What an economist.

Nigeria as an OPEC member is already credit worthy so what are you telling us? I am real. No sentiment.

Haba! What an economist!!

Do.u know most of the advance countries actually live on credit? Do you know the united states of America is one of the biggest debtors in the world even as it is one of the largest economy in the world?

NgwaManNaija4LF:
Yaba left.

You are a cretinous fuuktard.

Mama Piss is your Jesus Christ on Earth abi?

progress69:
Do.u know most of the advance countries actually live on credit? Do you know the united states of America is one of the biggest debtors in the world even as it is one of the largest economy in the world?

No oooo!

He is an economist.

I want him to tish us what he learnt in his PhD in Ekonomeeks from Jagbajantis International University.

Printerscanner:
The Foreign Reserve that Goatluck and his gang of 40 thieves lead by the puff-puff cheeked world bank fraudster called Ngozi Okonjo-Iwealla, Diezani Alisson-Maduekwe and Mama Piss Sheppopo looted, the people's general has replenish it. The road is rough, the task is tough, the masses are hungry, our graduates are roaming the streets, even me, I am under-employed but there is light at the end of the tunnel. I stand with Buhari, what about you?

Same here bro

Sagamite:
Don't think, go and learn.

Mumu so u cant make ur point without barking like a mad dog,carry ur frustration go meet ur frustrated father that brought u to this world.

lastempero:
Mumu so u cant make ur point without barking like a mad dog,carry ur frustration go meet ur frustrated father that brought u to this world.

You are a cretinous fuuktard!

The internet is there for you. What does your dumb, black, monkey arse use it for? To find out what happened on BBN, monkey?

Black fooooools!

Sagamite:
Why would you want the Naira to be in parity with the dollar and how would that make you a vibrant economic citizen?

I can easily live my dreams with naira in my pocket and not suffer loss to economic jargon.... My man hour in Nigeria will be equal to that of the American and brain drain will be limited and almost none existent

Alejob:
I can easily live my dreams with naira in my pocket and not suffer loss to economic jargon.... My man hour in Nigeria will be equal to that of the American and brain drain will be limited and almost none existent

In quantity not quality (productivity). Japan and S.Korea have their currencies' value below the dollar and they are among the top 20 economies globally. Yet some Nigerians believe the naira should be equal to the dollar. What do we produce apart from oil (whose price we don't control) that makes you believe the naira can/should be equal to the dollar?

Last I checked, Japanese and Koreans are not fleeing their countries.

progress69:
Do.u know most of the advance countries actually live on credit? Do you know the united states of America is one of the biggest debtors in the world even as it is one of the largest economy in the world?

"Advanced countries"

Is Nigeria advanced? Is Nigeria advancing?

N1= 361USD

So, you think you're equal to the USA and should live on credit?

What an economist!