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Nairaland Forum / Nairaland / General / Politics / External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues (9412 Views)
Tinubu Orders Release Of Food Reserves To Boost Availability / Government To Release Food Items From Reserves To Crash Prices / Nigeria’s Foreign Loans Set For All-time High At $45bn As Buhari Begs For Loan (2) (3) (4)
Re: External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues by EvilMetahuman: 8:03am On Apr 15, 2019 |
Esseite:ignoramus use google or sense before you post usa has biggest debt to gdp ratio in the world with 104.17% debt to gdp as at 2017 they have borrowed more than their gdp. nigeria has less down 30% one of the lowest in the world. |
Re: External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues by barinedan(m): 8:08am On Apr 15, 2019 |
Then why is Buhari and his gang flying up and down looking for where to borrow from? |
Re: External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues by Nobody: 8:08am On Apr 15, 2019 |
tactius: I dont think the bulk stops at GEJ, you seem to be very conversant with subsidies and its payments.. Do you think Buhari can manage subsidy payments with crude at $120?, or even at $140 which we alledge.. that goes to show fuel should ordinarily be sold at N400 or more at such amount of crude. But we are usually quick to blame a govt that handled it perfectly without breaking a sweat on our bodies. |
Re: External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues by bayelsaowei(m): 8:14am On Apr 15, 2019 |
Honor10:wrong... all that story is hogwash.. our reserves would have still improved and there would have been more jobs for everybody... |
Re: External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues by Nobody: 9:12am On Apr 15, 2019 |
Esseite:What was the debt profile during GEJ's tenure? |
Re: External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues by GiantParrot(m): 9:14am On Apr 15, 2019 |
The increase in crude oil price part is understood. Higher prices imply higher dollar revenue so there's more forex available. On Foreign Portfolio Investments, we can keep deceiving ourselves. So we now categorize debt as reserves. Foreign portfolio investors are buying Nigerian treasury bills and FGN bonds (in other words, debt) and we are claiming these as reserves. This is money we will have to remit to the investors with double digit interests at a future date. In what universe do you count your debts as reserves? Nigeria should as well have claimed in 2005 that the debt owed to the paris club was reserves, so we asked the paris club to forgive our reserves. Hilarious. Or am I missing something? |
Re: External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues by Pentasoft1978: 10:09am On Apr 15, 2019 |
Noise making from a useless government.....how does this translate to food on a poor man's table. |
Re: External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues by chibuzorAbia: 11:03am On Apr 15, 2019 |
Reference: My brother, thank you. You have spoken well. But let me tell you some thing else - the reserves means a lot more to us than you think - it is our survival money, our dignity, our hope and of course our means to this world. The currency of the developed economies are freely floating and 'reserve currencies' because they are legal tenders in the international market. Naira is a very soft currency which requires support (it has to be 'reserves-backed' to command any meaningful value). As a poor country like Nigeria sometimes you have to make very harsh choice (a very poor father who has too many children compared to his income ultimately has to watch his children go hungry, a very harsh choice). We cant continuously look out for the common man who is failing himself by putting himself in impossible circumstances. The government has no choice but to look out for the interest of the investors and people of means - the people that can actually change the circumstances of the poor fellow. The better choice is to build our reserves to make our country attractive to investors while we rebuild our agricultural and infrastructural capacity. Those who choose to create more mouth than their income can support should be O.Y.O and last on the list of consideration. |
Re: External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues by chibuzorAbia: 11:06am On Apr 15, 2019 |
Pentasoft1978: I will keep repeating - to hell with the common man! The common man in Nigeria are senseless which explains why the ranks or population of the common man is growing exponentially year after year. Reserves of hard currency cannot be spent 'feeding' people who are multiplying but economically unproductive. The common man should open his eyes and stop increasing the population uncontrollably. |
Re: External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues by chibuzorAbia: 11:08am On Apr 15, 2019 |
GiantParrot: Yes, you are missing something! They are buying Naira assets and so will be repaid in Naira! Remittance-able or not- is at the discretion of the foreign investor and not a concern for the FG or the central bank. Assuming the CBN or the FG has not guaranteed convertibility. |
Re: External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues by judondasylva(m): 11:30am On Apr 15, 2019 |
Fool how much debt do you think that your country is into?Nigeria has no savings at it stands now. Rather we are more in debt Honor10: |
Re: External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues by chibuzorAbia: 11:38am On Apr 15, 2019 |
Esseite: Okrika illiterate! |
Re: External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues by GiantParrot(m): 12:15pm On Apr 15, 2019 |
chibuzorAbia: Thanks for explaining. I now understand better. This doesn't seem like something to be proud about. |
Re: External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues by dejjythomas(m): 12:28pm On Apr 15, 2019 |
jullidee2006:Yes |
Re: External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues by new2012: 3:26pm On Apr 15, 2019 |
Honor10: Sure, that's what you are |
Re: External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues by Dami12345: 4:24pm On Apr 15, 2019 |
chibuzorAbia: You should look the word up before you use it. If it makes sense to you to have such amounts and have the country on the brink of war and desolution. Then the problem of Nigeria is literate morons like you. |
Re: External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues by demitola(m): 5:32pm On Apr 15, 2019 |
Dami12345:Try afford yourself some education about stuff like this. Don't always let your stomach rule your head. If we tow your line, Nigeria wouldnt be far from Venezuela lane.... more reason why GEJ had always been your hero |
Re: External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues by Dami12345: 10:38pm On Apr 15, 2019 |
demitola: Never liked him. I think its until you get kidnapped before you understand what am saying. Oh well they do say experience is the best teacher. |
Re: External Reserves To Hit $45bn As Dollar Inflow From FPIs Continues by Bestbeelieve: 4:08am On Aug 23, 2019 |
Honor10: look at youuu......stewwwpid!!! |
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