Esseite:


What is your debt to GDP or reserve level?

- You debt is currently at $65bn and climbing, the APC knows they can only deceive the illitrates who dont have access to news and figures.

The last election showed that the infomed and elites can not be deceived with misleading headlines.

what is d debt when GEJ was president, and I think u dont know that USA has the highest debt in the world, what am saying is ur leader was about turning our external reserve to debt too.

lies from the pit of hell....yet every now and then CBN pumps in millions of dollars into the dead economy just to keep it afloat. NGR is just a disaster waiting to happen.

Bestbeelieve:


Pffffff.....keep blaming GEJ for your failure till kingdom come. brainless

no, am blaming him for ur own failures, oya kill urself.

yerokunphilips:
Beautiful non sense , No responsible father will come and declared he's a billionaire while is children we living in first class poverty . What's the effect of this on a common man , have this changed the fact that Nigeria is the headquarter of poverty in the world ,has this reduced the rate of unemployment in this country , has this reduced the level of inflation in the country . Until any government engaged in things that will have direct positive effect on the common there's nothing to celebrate in this kind of news .

Very very senseless and stupiid statement. The economy of a country full of poor people reproducing at a dangerously alarming rate cannot be focused just on alleviating the pains of the hungry and irresponsible common man. So we should spend the $45b on importing food to feed the hopeless common man leaving infrastructure and our agricultural development, abi?

yerokunphilips:
Beautiful non sense , No responsible father will come and declared he's a billionaire while is children we living in first class poverty . What's the effect of this on a common man , have this changed the fact that Nigeria is the headquarter of poverty in the world ,has this reduced the rate of unemployment in this country , has this reduced the level of inflation in the country . Until any government engaged in things that will have direct positive effect on the common there's nothing to celebrate in this kind of news .

Stop making statements like an illiterate

Honor10:


what is d debt when GEJ was president, and I think u dont know that USA has the highest debt in the world, what am saying is ur leader was about turning our external reserve to debt too.

Is that you just wanted to comment or you knowledgeable about the economics

I'm watching

Dami12345:
This is just stupid.
Like saying oh look, I have 100milliin in my bank account. But suffering and drinking garri day to day.

Illiterate. Please do the country a favour, don't have children.

Honor10:


what is d debt when GEJ was president, and I think u dont know that USA has the highest debt in the world, what am saying is ur leader was about turning our external reserve to debt too.

USA has the highest debt, but what is their Debt to GDP?

They have the most robust GDP in the world aswell, their unemployment is at 3% of a more larger population than Nigeria.

Onyemadonald:
Nigeria's external reserves are set to hit six months high of $45 billion before the end of this month as foreign portfolio investors, FPIs, sustained dollar injection in a bid to take advantage of the double digit interest rate on Nigeria’s fixed income instruments.

Last week the reserves maintained upward trend for the sixth consecutive week. Data from the Central Bank of Nigeria, CBN, showed that the reserves rose to $44.722 billion as at Thursday, April 11, from $44.683 billion on Thursday April 4, implying weekly increase of $39 million.

Further analysis showed that the reserves have gained $294 million dollars from $44.428 million since the beginning of the month. With this upward trend expected to continue, the reserves will hit $45 billion before April 30.

This will translate to the highest level of external reserves for the country in six months, specifically since September 18 when the reserves stood at $45.002 billion. After falling persistently for seven months, from peak of $47.989 billion on July 5, 2018, the reserves commenced steady ascent from $41.296 billion on February 28. Since then the reserves have gained $3.43 billion or 8.3 percent.

This sharp gain is driven by increase in crude oil price and huge dollar injection by foreign portfolio investors seeking to take advantage of double digit interest rates on Nigeria’s fixed income instruments, namely treasury bills and FGN bonds, to maximise returns on their investment.

According to FSDH Merchant Bank, “The rise in the external reserves was driven by the significant rise in Foreign Portfolio Investors, FPI, in March and increase in crude oil price. We believe the increase in FPI was as a result of foreign investors’ interest in the Nigerian fixed income market on account of attractive yield and relatively stable exchange rate.”

Financial Vanguard analysis showed that dollar injection by foreign portfolio investors, FPIs, spiked by 363 percent to $7.54 billion dollars in the first quarter of the year, Q1’19 from $1.63 billion in the previous quarter, Q4’18. The highest dollar injection of $4.47 billion by foreign portfolio investors was recorded in March, up by154 percent from $1.75 billion in February. Meanwhile activities in the Investors and Exporters, I&E, foreign exchange window indicate that dollar injection from FPIs is still high though lower than the level recorded in March.

Data from FMDQ showed that $2.1 billion have been traded in the window in the first two weeks of April. This translates to weekly average of $1.05 billion so far in April, down from weekly average of $2.3 billion in March.

https://www.vanguardngr.com/2019/04/external-reserves-to-hit-45bn-as-dollar-inflow-from-fpis-continues/amp/

Few idiots here will not like this news.

Esseite:


USA has the highest debt, but what is their Debt to GDP?

They have the most robust GDP in the world aswell, their unemployment is at 3% of a more larger population than Nigeria.

Illiteracy in economics dey worry your Atikulated Buhari-hateful brain.

my question is How many percent of this is from Gold?

chibuzorAbia:


Illiteracy in economics dey worry your Atikulated Buhari-hateful brain.

You are brain dead.. if you have a counter, come up with one.

kabarka:
my question is How many percent of this is from Gold?

Good question- rightly or wrongly.

Esseite:


You are brain dead.. if you have a counter, come up with one.

Counter a hateful illiterate? Go find ya mate.

chibuzorAbia:


Counter a hateful illiterate? Go find ya mate.

Like i said earlier... you are empty, empty barrels makes the loudest noise.

You cannot even raise even one single point, but you can type "counter hateful illiterate"... read bro, read..

jullidee2006:
is it sustainable?

Well, as long as interest rates remain high the latest FPI moves will remain. What we should ask is what do we prefer.... higher interest rates or higher reserves, in this case. Economists should speak up.

Esseite:


USA has the highest debt, but what is their Debt to GDP?

They have the most robust GDP in the world aswell, their unemployment is at 3% of a more larger population than Nigeria.

Please stop making fools popular..I can't imagine how someone will coin those nonsense.. No need arguing with them please

chibuzorAbia:


Very very senseless and stupiid statement. The economy of a country full of poor people reproducing at a dangerously alarming rate cannot be focused just on alleviating the pains of the hungry and irresponsible common man. So we should spend the $45b on importing food to feed the hopeless common man leaving infrastructure and our agricultural development, abi?

But higher reserves is meant to stabilise the naira in favour of imports..... such as food imports you criticise. The high interest rates that draw FPI's into he economy also kills off local industries. So you need to think deeply and carefully before a blanket support or derision of this situation. It is clearly a doube edged sword.

In developed economies interest rates and inflation is more important than reserves but this happens where the local currency floats and the economy is well diversified with a viable export engine. A quest for higher reserves though laudable remains essentially a socialist policy. In Nigeria it is the antithesis of a diversified, export driven, modern economy.

Honor10:
Imagine GEJ was still the president, this external reserve will av become debt, how GEJ manage to deplete the external reserve will the highest oil sale ever is beyond me. Education is not leadership. SMH!

I can bet you're illiterate.. Even if you're educated, you're an educated illiterate. Its noe about pushing the narrative, having followership in stupidity..

GEJ was a failure no doubt, but coining those words up there makes you a total illiterate. You think its about having external reserve? How many months of import can that even sustain man, what's the country's GDP? how many people are dying per day due to menace of boko haram, herdsmen, bandits, etc? Whats the average cost of living today? How much do you earn-what's the value of same with the USD, now and 4years ago? Juxtapose it to your comment and relate the whole thing with the external reserve.

Its so bad that people are committing suicides, killing themselves coz of hardship, it was ne'er this bad.
Illiteracy is indeed a disease, it blurs ur imagination and obstruct ur reasoning flow.

Honor10:
Imagine GEJ was still the president, this external reserve will av become debt, how GEJ manage to deplete the external reserve will the highest oil sale ever is beyond me. Education is not leadership. SMH!

you are wrong Sir, during Jonathan, external reserve was low about $30 billion but Nigeria debt was low at about $9 billion or so but now Nigeria reserve is $45 billion high but our debt is at about @26 billion.....
do your calculation and project where there is more better manager.....
do you seize to use your salary and rather resort to borrow and pay interest so that your savings in the bank be high? is that not foolishness?

I really don't understand this external reserves thing....is it a normal economic statistic?

I don't hear it about other high performing countries.....you don't hear that Rwanda, Ghana, South Africa or even the U.S.A, China, Brazil, U.K have just hit a new external reserve high. Performance in these countries is based on something easily seen and felt.......increase in employment rate, power generation, high speed trains, low or zero inflation, GDP growth, debt reduction, increase FDI,.......it is never about external reserves increase.

The paradox is that you claim external reserves has increased but we don't feel it.......unemployment, inflation, debt profile are all on the increase.

Increase external reserves is not reflecting anywhere or in anything

Onyemadonald:
Nigeria's external reserves are set to hit six months high of $45 billion before the end of this month as foreign portfolio investors, FPIs, sustained dollar injection in a bid to take advantage of the double digit interest rate on Nigeria’s fixed income instruments.

Last week the reserves maintained upward trend for the sixth consecutive week. Data from the Central Bank of Nigeria, CBN, showed that the reserves rose to $44.722 billion as at Thursday, April 11, from $44.683 billion on Thursday April 4, implying weekly increase of $39 million.

Further analysis showed that the reserves have gained $294 million dollars from $44.428 million since the beginning of the month. With this upward trend expected to continue, the reserves will hit $45 billion before April 30.

This will translate to the highest level of external reserves for the country in six months, specifically since September 18 when the reserves stood at $45.002 billion. After falling persistently for seven months, from peak of $47.989 billion on July 5, 2018, the reserves commenced steady ascent from $41.296 billion on February 28. Since then the reserves have gained $3.43 billion or 8.3 percent.

This sharp gain is driven by increase in crude oil price and huge dollar injection by foreign portfolio investors seeking to take advantage of double digit interest rates on Nigeria’s fixed income instruments, namely treasury bills and FGN bonds, to maximise returns on their investment.

According to FSDH Merchant Bank, “The rise in the external reserves was driven by the significant rise in Foreign Portfolio Investors, FPI, in March and increase in crude oil price. We believe the increase in FPI was as a result of foreign investors’ interest in the Nigerian fixed income market on account of attractive yield and relatively stable exchange rate.”

Financial Vanguard analysis showed that dollar injection by foreign portfolio investors, FPIs, spiked by 363 percent to $7.54 billion dollars in the first quarter of the year, Q1’19 from $1.63 billion in the previous quarter, Q4’18. The highest dollar injection of $4.47 billion by foreign portfolio investors was recorded in March, up by154 percent from $1.75 billion in February. Meanwhile activities in the Investors and Exporters, I&E, foreign exchange window indicate that dollar injection from FPIs is still high though lower than the level recorded in March.

Data from FMDQ showed that $2.1 billion have been traded in the window in the first two weeks of April. This translates to weekly average of $1.05 billion so far in April, down from weekly average of $2.3 billion in March.

https://www.vanguardngr.com/2019/04/external-reserves-to-hit-45bn-as-dollar-inflow-from-fpis-continues/amp/

As apc claims that our reserves is increasing, we keep suffering more n more n hunger worsens

Good news...

Esseite:


What is your debt to GDP or reserve level?

- You debt is currently at $65bn and climbing, the APC knows they can only deceive the illitrates who dont have access to news and figures.

The last election showed that the infomed and elites can not be deceived with misleading headlines.

UncletC:
you are wrong Sir, during Jonathan, external reserve was low about $30 billion but Nigeria debt was low at about $9 billion or so but now Nigeria reserve is $45 billion high but our debt is at about @26 billion.....
do your calculation and project where there is more better manager.....
do you seize to use your salary and rather resort to borrow and pay interest so that your savings in the bank be high? is that not foolishness?

Now, in answering your question, I am not here to praise Buhari or balme GEJ or vice versa.

According to Fitch, in 2017, Nigeria needs oil to be at $140 per barrel to have a budget without debt, and that would sustain us....it's called the breakeven price (and it varies from country to country...Saudi needs it at $70, Russia at $99, Kuwait at $45.).

Since Buhari has taken over in 2015...international oil prices have been between $80 and $30 (even at$29 at one point).

Diversifying the economy ?? Yes, but we have fallen far behind in Agriculture (GEJ just managed to get us back to No 5 in cocoa...which was a miracle in itself. Cotton?? Palm oil? Far behind)

Anyone who thought that whoever won in 2015 was going to run an economy free of borrowing and free of debt was in dreamland.


Now, where I bash Buhari is that we spend too much on subsides. These have a bad effect on the amount of cash government has available to spend

Still...let's commend him for saving. GEJ....despite having oil prices as high as $120 and above did not save. And that is part of the reason why we have econonic crisis


EVEN then....Buhari and GEJ both have one problem. Nigeria is a poor nation, we waste the little money we have, and we are not ready to make the hard choices needed to get off oil. Which is cutting subsides on oil and power so as to attract investors who would generate profit, create jobs, and straighten our economy...enabling us to stop relying too much on oil

new2012:


I can bet you're illiterate.. Even if you're educated, you're an educated illiterate. Its noe about pushing the narrative, having followership in stupidity..

GEJ was a failure no doubt, but coining those words up there makes you a total illiterate. You think its about having external reserve? How many months of import can that even sustain man, what's the country's GDP? how many people are dying per day due to menace of boko haram, herdsmen, bandits, etc? Whats the average cost of living today? How much do you earn-what's the value of same with the USD, now and 4years ago? Juxtapose it to your comment and relate the whole thing with the external reserve.

Its so bad that people are committing suicides, killing themselves coz of hardship, it was ne'er this bad.
Illiteracy is indeed a disease, it blurs ur imagination and obstruct ur reasoning flow.

Thrash

Honor10:
Imagine GEJ was still the president, this external reserve will av become debt, how GEJ manage to deplete the external reserve will the highest oil sale ever is beyond me. Education is not leadership. SMH!

I was richer when Jonathan was president. Dollar was N140+, petrol was N85. Talk about depleting reserved or adding reserves, that does not concern me. Standard of living is what matters. You hear of fancy stories by this regime yet the suffering continues.

bendike:

I was richer when Jonathan was president. Dollar was N140+, petrol was N85. Talk about depleting reserved or adding reserves, that does not concern me. Standard of living is what matters. You hear of fancy stories by this regime yet the suffering continues.

And price of crude was between $94-130 from 2010-14.

Buhari, in fairness to him, had crude between $30-80 since he took over.

Of course less dollar inflow means less dollars to buffer the value of the naira

Also, fuel was between N65, in 2010, N97 by 2012 and N87 by 2015, at the expense of our foreign reserves...much of which was used to pay for subsidies.(That's a big reason why GEJ was unable to save, and why he wanted to remove subsidies...but silly Nigerians and a silly opposition won't let him).

From 2013...outside Abuja and Lagos, fuel was as high as N120. Infact in 2014...fuel was higher than N100 on the outskirts of Abuja and there were frequent long queues. Also from 2013-16 , we had frequent fuel scarcity...because the cost of maintaining the fuel subsidy was getting too high, and debts were rising (That's why GEJ tried to increase prices from N65 to N140)

Either way, if oil prices were as highas $100 under Bubu, Nigerians would be saying we are prosperous. Fact is....we have a vulnerable economy. And we have to reduce that vulnerability.