₦airaland Forum

0monnak0da:
Warehouse
Guy leave matter

stick to what you know let us not derail the thread

Foreign reserves are not government money that is all that matters ,they have no role in fiscal activities

0monnak0da:
I think you are mixing things here

Foreign reserve is totally irrelevant

A lot of people make this mistake, too often quite understandably

Foreign reserves are NOT government funds rather they are CBN funds and so once again TOTALLY irrelevant to the loan decisio.

That is not to say that I agree with the loan but let us not mix things

The CBN is a Bank it has liabilities(debt) and assets. Among the liabilities of the CBN are ALL the Naira notes in circulation while foreign reserves are its assets. It is those assets that make the Naira to have value . Without assets then the Naira is just PAPER

so foreign reserves do not have any role in government spending They belong proportionately to all the creditors of the CBN which everyone holding naira in their pocket is

What is more relevant to the loan decision is Government revenue, existing government debt and expenditure

I have no clue where you get the 10% of foreign reserve as a relevant variable driving borrowing decision

kayroc:
I am sure Dangote will simply export all the refined product from that refinery. For as long as there is subsidy he will not he able to sell for the maximum price in Nigeria so he will simply export the product and maximize returns.

0monnak0da:
Nigeria has a Tax Revenue/GDP ratio of 6% compare to Algeria of 64% and Denmark of 50%
Pakistan 11% India 16% Kenya 18% Ghana 20%

https://en.wikipedia.org/wiki/List_of_countries_by_tax_revenue_to_GDP_ratio


GDP is a good basis for measuring the ability to borrow ONLY if there is capacity to extract tax revenue from that GDP

Nigeria has a poor record of extracting tax from its GDP

Let us desist from ignorantly echoing the debt/GDP ratio

So how can we move from 6% to 12% i.e double our tax revenue. Talk is cheap

juman:
With our population of over two hundred million peoples, if we borrow hundreds of billions of dollars, with good management we would pay it back easily.

But we don't have good management.
That is the real problem.

Eteka1:
The loan is meant for major infrastructural development like roads, power, rail, bridges etc. There is nothing wrong in that. Nigeria's debt to GDP ratio is one of the lowest in the world at 30.05%.

ovcwality:
Make two of una no talk nonsense abeg, as una don book space

Madam congrats

Abagworo:
Of course and their grandfather established Banana Island

dilodavid:
And their father is the dancing Senator.

dilodavid:
Sina is his elder brother.

Mrsoundoro:
Nigeria President Mohammed Buhari was spotted rocking a Venta shoe named Bottega worth £535 ( 249,139.87 Naira).

This is not the first time Mr. President is stepping out with this shoe.

See photos

Source: https://ngg.ng/2019/11/27/photos-of-president-buhari-rocking-bottega-venta-shoe-worth-535/

KoiceReloaded:
I mean, they weren't wrong. Just look at this picture below.

[img]https://media1./images/bcc55652cc9c28d29242ab17b751ae70/tenor.gif?itemid=8607762[/img]

KoiceReloaded:
Hehehehe. Her and Julia Roberts have the biggest widest mouths in Hollywood.

LadySarah:
This hunger in Nigeria isnt reaching some ppl at all.
Five kids!!

grandstar:
I'm a Jehovah's Witness and I find the CAN prayer meet as hilarious. People condemn us for not praying with them and this CAN prayer meet is one reason why. God does not listen to all prayers no matter how hard we deceive ourselves (Read Jeremiah 7:16). Why should I even call someone and say, "Let me pray for you"? The only aprayer he listens to are those in harmony with his will (Read 1 John 5:14)

Many so called men of God are involved in the occult to perform miracles. A great number of their congregants engage in spiritism. Majority are nominal Christians. Their judgment is coming (Read 2 Thessalonians 2:9-13, Matthew 7:21-23)

What's happening during our time shouldn't be a surprise (Read 1 John 5:19, 2 Timothy 3:1-5,13). It should therefore not be a surprise to these clergymen. These clergymen are only preaching prosperity and trying their best to hold on to their congregants or increase their flock by giving them what they want to hear. (Read 2 Timothy 4:1-5). Yes, this is your year of miracles!Yes, this year to will build your house

grandstar:
I doubt Bill Gates or Mark Zuckerburg finished uni

DDeliverer:
Wetin musa no go see for gate?

DDeliverer:
Wetin musa no go see for gate?

KoiceReloaded:
Google is your friend, buddy.

https://en.m.wikipedia.org/wiki/Ragnar_Lodbrok

KoiceReloaded:
Vikings was strictly history though.

Fantasy entails the supernatural, so yeah, Britannia has supernatural content.

franchasng:





Davido is not handsome yet he smashes the hottest chicks in the world.

naijadrivablog:
Baba, it is. In as much as standard of living is high in those countries with 'big' currencies,if you manage to send back little savings, it is much.

Imagine you live in Kuwait and manage to send back 100 Kuwaiti Dinar, and someone in Dubai sends 100 Dirham's,is the value in Naira the same?


Read this comment below;

PassingShot:
Ignorance is a disease.

Earning in those currencies does not translate to earning big.

grandstar:
Why?

For now, the job market is facing a lull. Everyone seems to be traveling to Canada. I'm sure when Buhari goes, more pragmatic economic policies will be introduced and growth of 6% or more will be the new average instead of the lamentable rates of today

ursullalinda:
Don't understand why we only read about good news.....but don't feel the impact in our daily lives....

oluwamile:
.ihn throwback still better pass my 2019
God abeg bless my hustle ohh
No be to dey enter NL everyday dey find gist