₦airaland Forum

wirinet:
Sovereign Wealth Funds with crude selling at less than $60 to the barrel? I am sure the writer has no idea what he is talking about.
Sovereign wealth fund is like excess crude account that is used for investment purposes to generate additional income. So where do we get monies to put into the sovereign wealth funds when we hardly make enough to pay salaries, not to talk of money to build infrastructure.
Maybe the report was talking about 2013 when the dollar was overv $100.

In your usual haste to defend nonsense you sounded ultra stupid.

Over the years, Nigeria has been selling crude above the budget benchmark which means we will comfortably accumulate savings in the ECA.

The ECA was depleted from $2.3 billion in Feb 2018 to about $200 million in Feb, 2019. With the worst depletion happening within 3 weeks in December, 2018 when a balance of about $1.6B was depleted to $600 million.

Excuse of the FG, Paris refund. So you see.. The silly excuse above isn't tenable. It's time to stop looking stupid in our desperation to defend this disaster of an Admin..

wirinet:
Sovereign Wealth Funds with crude selling at less than $60 to the barrel? I am sure the writer has no idea what he is talking about.
Sovereign wealth fund is like excess crude account that is used for investment purposes to generate additional income. So where do we get monies to put into the sovereign wealth funds when we hardly make enough to pay salaries, not to talk of money to build infrastructure.
Maybe the report was talking about 2013 when the dollar was overv $100.

Stop discussing issues you aren't knowledgeable about.

First, Nigeria's Excess Crude Account (ECA) is the same as the Sovereign Wealth Fund, meaning they're both one and the same. ... So in summary, the Excess Crude Account is literally a foreign savings account owned by the Nigerian Government.

Sovereign Wealth Fund, is an accrued monies made from selling crude oil above a year budget benchmark.

orisa37:
Nigeria should arrange Full Autonomy of Police, Resources and Elections Control to our 36 Constitutional States.

...But who'll arrange it? The same thieves stealing the money

LiveByNight:
Please shut up and learn to read and comprehend

[img]https://media1./images/41623c30893884b0cd1b2d696a3abd33/tenor.gif?itemid=9495358[/img]

there are too many paid and unpaid idíots on nairaland

coolzeal:
I thought with all these economy blunders Nigerians, should be boiling with massive protest just like the Arab spring that will revolutionize the country. Make una dey get sense na.

The Venezuela way go bad.

A people get the government they deserve! Like you said, in other climes like Zimbabwe, Sudan, Algeria or Egypt, the populace would be out on the streets demanding for the government of the day to step down! Not Nigeria....they’d rather be a political godfathers thug, go into armed robbery or kidnapping, and if all these fail they jump in the lagoon or hang themselves! Demonstrating on the streets for a government change isn’t an option!

IMF are IPOB.

Xander85:
A people get the government they deserve! Like you said, in other climes like Zimbabwe, Sudan, Algeria or Egypt, the populace would be out on the streets demanding for the government of the day to step down! Not Nigeria....they’d rather be a political godfathers thug, go into armed robbery or kidnapping, and if all these fail they jump in the lagoon or gang themselves! Demonstrating on the streets for a government change isn’t an option!

hang

kernel001:
Stop discussing issues you aren't knowledgeable about.

Sovereign Wealth Fund, is an accrued monies made from selling crude oil above a year budget benchmark.

You dey mind am.

BuhariAdvocate:
Western world organization would still rank Nigeria the lowest sperm rate in the world. Useless people.

I pity those who take them seriously.

By the time they're finished with you, you will believe you're the very offspring of calamity and misfortune.

wirinet:
Sovereign Wealth Funds with crude selling at less than $60 to the barrel? I am sure the writer has no idea what he is talking about.
Sovereign wealth fund is like excess crude account that is used for investment purposes to generate additional income. So where do we get monies to put into the sovereign wealth funds when we hardly make enough to pay salaries, not to talk of money to build infrastructure.
Maybe the report was talking about 2013 when the dollar was overv $100.

Lol

BanevsJoker:
hang

Cheers! Predictive text!

Nigerians should ignore all these imf statements on Nigeria. All of their predictions on Nigeria have failed.

GOFRONT:
You Bet9ja scammer....This is not how to make money to buy the Benz...

Weeping for my Nation Nigeria!

Good things hardly come from pooh hole

APC has killed Nigeria.

Effect of not restructuring
u c

The prices of foods are coming down, IMF does not like to say anything positive about Nigeria because we are not dancing to their music.

Europe Wil Keep Rating Us Down When We Re Third World They Only See Us As An Outcase Awating Judgement

The prices of foods are coming down, IMF does not like to say anything positive about Nigeria because we are not dancing to their music

I need to raise 100million within one month.

wirinet:
Sovereign Wealth Funds with crude selling at less than $60 to the barrel? I am sure the writer has no idea what he is talking about.
Sovereign wealth fund is like excess crude account that is used for investment purposes to generate additional income. So where do we get monies to put into the sovereign wealth funds when we hardly make enough to pay salaries, not to talk of money to build infrastructure.
Maybe the report was talking about 2013 when the dollar was overv $100.

ethopia has no crude and they are land locked....
They are improving tremendously freind

Hmmmm! Need we say more? Anything Buhari and his APC touch turn out useless.
They inherited a thriving economy and bastardise it
They turn Nigerians to slaves in their country
They inflated fuel price by 70% and still "invest" heavily in subsidy
They met $ at N197 and now struggling to hold it at N360
They met about 4700 me of electricity now we have zero
Our hospitals are now more of funeral homes than mere consulting clinics
Our electoral process have become mere jamboree
Integrity now mean something else.
Boko Had are now second to Fulani Herfsmen and Bandits, so much so that travelling by road in no longer safe.

That's the next level wey APC they take us to abi?
Everything measured by global standard if Nigeria no dey among the worst 5 na lie
Haba APC. We have not been hearing such during PDP

haba!! why making Nigeria SECOND on the list when we are actually FIRST....this is rigging...IMF we will not take it!

orisa37:
Nigeria should arrange Full Autonomy of Police, Resources and Elections Control to our 36 Constitutional States.

Remove Biafra states from that your list.


If I may ask, WHO IS A NIGERIA?

coolzeal:
I thought with all these economy blunders Nigerians, should be boiling with massive protest just like the Arab spring that will revolutionize the country. Make una dey get sense na.

The Venezuela way go bad.

Still trying to digest this write up.. To be candid, After the elections it has just been -ve news about this nation. poorest to hunger to killings just name it .BaBa that couldnt do much for Zamfara... Is telling dubai investors to come.

I still dont know how they will be protected..

Governors on their own part should put infrastructures on ground.. so that these youth wont take to banditry. Hunger dey naija And No work!!!... Hmmm!!

Tofax:
Imaging GEJ in the saddle with all this negative indices. hmmm. We were told the reason why Buhari appointed his kindred and his follow Muslim into vital positions of governance is because they were appointed on merit. its obvious Buhari major concern is to to promote primordial and religious consideration.

Yep yep. They won't have let person hear word. Every single index has worsened since PMB took over.

atleast we still dey top four

orisa37:
Nigeria should arrange Full Autonomy of Police, Resources and Elections Control to our 36 Constitutional States.

That's the restructuring na

Sovereign wealth fund is the excess crude account. It was reformed because the excess crude account was not created by law and didn't have any books of deposits and withdrawals. Now, the said ranking was done based on size of assets viz a viz GDP. Our economy is heavily dependent on crude and since crude sold below even our budgetary benchmark, it would be difficult to save extra to install capital assets. This is why we were ranked low,

tribalistseun:
We know you want to sound intelligent but unfortunately, you just sounded so dumb and stupid.

IMF should go and die.
Racist, imperialist

wirinet:
Sovereign Wealth Funds with crude selling at less than $60 to the barrel? I am sure the writer has no idea what he is talking about.
Sovereign wealth fund is like excess crude account that is used for investment purposes to generate additional income. So where do we get monies to put into the sovereign wealth funds when we hardly make enough to pay salaries, not to talk of money to build infrastructure.
Maybe the report was talking about 2013 when the dollar was overv $100.

I urge you to listen when experts are talking. You can't know more than an oncologist when he speaks about cancer.

The IMF guys are gurus in economics likewise and it behoves on you rather than simply whitewash their criticism, try to learn from it.

Qatar that is the worst interestingly has over $300b in it's sovereign fund. That is more than half of Nigeria's GDP. and for only 300,000 citizens. So it's not simply how much but the way it was managed. Perhaps best practices were not followed and perhaps a lot of corruption trailed it's management and disbursement of funds.