Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Nobody: 8:33am On Dec 13, 2017 |
SillyMods: PMB is a quiet achiever. No need to make noise too much.
The economy they destroyed for sixteen years, they want it repaired in two years! Even a building destroyed in one day cannot be rebuilt in one week.
Shameless jokers PDP and their supporters are.
The Solid Minerals sector is actually doing great. Kudos to Fayemi in this regard.
Don't play yourself man, those are cooked-up figures |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by 9jaDoc(f): 8:34am On Dec 13, 2017 |
richeeyo:
What do you know, NOTHING, comment rubbish because you want to post first That's why I asked, seeing as I don't know. What's your point? |
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Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by kitaatita: 8:39am On Dec 13, 2017 |
Anti-Buhari direction as promoted by Nairaland is demotivating youths who make up most of the users of the forum from exploiting opportunities in government programmes. Nairaland graduates are satisfied as N-power beneficiaries and lack the inclination to make progress in other fields. 1 Like 1 Share |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Nobody: 8:41am On Dec 13, 2017 |
Q3 comparisons over periods. Hmmmmm. |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by hermosa7: 8:44am On Dec 13, 2017 |
I love my country... I pray for my country... I believe in my country... God bless my country, Nigeria. 1 Like 1 Share |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by tiger28: 8:47am On Dec 13, 2017 |
9jaDoc: Seriously, does it affect price of garri?
Ok, at least seems we r solving one thing...
Anybody has ideas how we can also solve the following:
1) rampant corruption everywhere 2) corrupt politicians 3) corrupt police 4) SARS 5) ritualists, 6) kidnappers, 7) conmen, yahoo boys, 9) brazen robbers, 10) Boko Haram, 11) IPOB, 12) Delta Avengers, 13) baby factories, 14) child molesters, 15) child snatchers 16)human traffickers, 17) poor power supply, 18) ridiculous hospitals, 19) doctor strikes 20) poor schools, universities 21) poor infrastructure, 22) poor water supply, 23) poor waste disposal, 24) poor drainage system, 25) poor building inspection, 26) collapsing buildings, 27) dillapidated housing, 28) poor drug inspection, 29) poor food inspection, 30) poor environmental planning 31) corrupt clearing and forwarding, 32) corrupt customs, 33) no mental healthcare 34) no provisions for handicapped people 35) corrupt legal system, 36) corrupt judiciary, 37) poor banking system, long lines 38) poor and corrupt monetary system (black market) 39) Fulani herdsmen 40) military 41) aviation in general 42) MM Airport, Ikeja 43) filthy and congested seaports (Apapa) 44) rampant strikes 45) fake everything 46) intermittent fuel scarcity 47) generator fumes and noise 48) corrupt FRSC 49) road blocks 50) Non-existent planned public transportation 51) fires and deaths from power surges 52) deaths from unsafe roads 53) In case of fire, long waits for poor response 54) In case of crime, long waits for police response 55) long waits for poorly equipped ambulances 56) very poor emergency healthcare 57) ineffective drug prescription system 58) totally corrupt govt bureaucracy 59) very poor public healthcare sector 60) poor crime investigation process 61) poor forensics 62) poor record-keeping process 63) poor and fraud-susceptible personal identification 64) non-availability of student loans and work-study 65) non-existent credit system 66) non-existent car rental system 67) fraud-prone real estate - "this house is not for sale" 68) no substantial recompense for death or injury due to govt or police mistake or negligence 69) rampant jungle justice, sometimes on innocent people (could be u) 70) extremely high unemployment rate 71) cultists and cult wars 72) hawkers, beggars, mad and near-mad all over Illiterates EVERYWHERE!!! |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by anonimi: 8:47am On Dec 13, 2017 |
GavelSlam: Price of foodstuff has reduced make of it what you will. Maybe for those who join barawo bubu in squandering our money on food in Aso Rock. www.nairaland.com/attachments/3366314_126542584333041968758808079643164551849331n2_jpeg2a66242ff194ad643009c703a17b3723 Firefire:
‘A budget that moves domestic spending in Aso Villa from N580m to N1.7bn cannot be a budget of change’
Abuja – Sen. Eyinnaya Abaribe (PDP Abia South) on Wednesday in Abuja, berated the 2016 budget and called on President Muhammaduu Buhari to withdraw it and go back to the drawing board.
Abaribe while making contributions during the consideration of the budget, said the proposal was faulty on many grounds and could not be implemented at it was.
He said that predication of oil benchmark at 38 dollars per barrel when the crude oil price had fallen below 30 dollars per barrel made the budget unrealistic.
Abaribe faulted the government for increasing spending by 30 per cent based on borrowing.
“Mr President, my colleagues, this budget is indeed unique. After the budget presentation, the finance minister has never come to explain the details of the budget as it is normally done.
“It is a budget of change I agree, but it is a change in the wrong direction. I say it is a change in the wrong direction because it says that it is based on zero budgeting requiring all expenses to be fully justified.
“Mr President, a budget that increases spending up to 30 per cent based solely on borrowing, in what way are we justified? That is the question we want to ask the people who brought this budget.
“We know what is going on in the global economy: this budget is predicated on an oil benchmark of 38 dollars per barrel and I can now say that with oil being 28 dollars today, this budget is dead on arrival.
“The job of the opposition is to help the government to get its priorities right, so I want to please urge this government to withdraw this budget and go back to the drawing board,” he said.
The senator also faulted the adjustments made in the budget as well as allocation for spending in the Aso Rock Villa, saying that it was too exorbitant.
He said that the adjustments rather than reduce spending in areas where they were not necessary only spread it into different offices.
“Mr President, a budget that moves domestic spending within Aso Villa from N580 million to N1.7 billion cannot be a budget of change.
“We were told that in the revised budget there was an adjustment due to error, we agree but what has happened is that up to N7 billion were moved from buying vehicles and spread to offices.
“It also increased the spending that is due to renovations within the Villa.
“They are going to renovate the Villa with N3.9 billion: what else do you want to renovate there that Nigerians will see in the Year 2016?” he asked.
However, in his contribution, Sen. Ahmed Lawan (APC Yobe North) blamed the previous administration for the lack of funds due to the embezzlement witnessed in previous governments.
He said that this was the 17th budget he would be debating as a legislator and noted that not more than 40 per cent implementation was achieved in the last 16 years.
“The proposal before us is the first budget where the executive has deemed it necessary to give ordinary Nigerians genuine hope.
“N500 billion allocated for school feeding and social SAFTEY NET is commendable.
“It is time to say oil should not continue to play dominant role as we have suffered economically and politically: it is time to diversify this economy.
“The direction of the executive is the way to go. `That is, we should make every effort to have the real sector-agric mining and manufacturing.
“The budget deserves the support of everyone, including my colleagues on the other side. When we were in the opposition we supported the PDP, they should support us,” he said.
www.nairaland.com/attachments/3317046_budgettt_jpegd73bb73944448e30966f27bc22a4c756
http://www.vanguardngr.com/2016/01/602809/ 1 Like |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Nobody: 9:01am On Dec 13, 2017 |
DoTheNeedful: The trade balance should have been presented in dollars. I believe the weakening of the naira against the dollar might be a factor in the high figure. when the news is good ... embittered people that have sworn to remain sad ,,just jump n pass the news .... all some do everyday is look out for bad news. Nigeria cannt present it GDP in dollars,,stil checkin dollar is nt our national currency..for comparism sake ,,previous trade bal in naira is compared with present bal of payment . 1 Like 1 Share |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Partreek911: 9:01am On Dec 13, 2017 |
SalamRushdie: For those trying to applaud this hogwash just remember its like diluting and bottle of coke with water and claiming you have more coke ..this Balance trade number doesnt generally signify growth in our economic factors of production but just reveals a slump in the quality and standards of living in Nigeria , people are not importing less because there are better locally produced alternatives but because they have cut out a lot of imported stuff because they cant afford E.g the automotive sales industry imported 90 percent less cars because of low demand and this means many Nigerians who want cars are going for Nigerian used cars which means many people have also sold their Nigerian used cars to others to make ends meet...This is reflective of a lower quality of life . thanks for speaking my mind. these are just numbers, and they know numbers fool a lot of ppl, not all of us though. Nigerians are going broke and hungry...that's what I see here 1 Like |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Nobody: 9:09am On Dec 13, 2017 |
SillyMods: PMB is a quiet achiever. No need to make noise too much.
The economy they destroyed for sixteen years, they want it repaired in two years! Even a building destroyed in one day cannot be rebuilt in one week.
Shameless jokers PDP and their supporters are.
The Solid Minerals sector is actually doing great. Kudos to Fayemi in this regard.
bro you know what most pple crying are pple living large when corruption was at it peak now that the means to those money have been blocked they solely depend on their income they won't see anything good about PMB they want Atiku so that they can go back to their way of life Awon Omo ole ifo 1 Like 1 Share |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by GavelSlam: 9:11am On Dec 13, 2017 |
kitaatita: Anti-Buhari direction as promoted by Nairaland is demotivating youths who make up most of the users of the forum from exploiting opportunities in government programmes. Nairaland graduates are satisfied as N-power beneficiaries and lack the inclination to make progress in other fields. I agree but please shed more light on this if you can. |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Jesusgirl92(f): 9:13am On Dec 13, 2017 |
SalamRushdie: For those trying to applaud this hogwash just remember its like diluting and bottle of coke with water and claiming you have more coke ..this Balance trade number doesnt generally signify growth in our economic factors of production but just reveals a slump in the quality and standards of living in Nigeria , people are not importing less because there are better locally produced alternatives but because they have cut out a lot of imported stuff because they cant afford E.g the automotive sales industry imported 90 percent less cars because of low demand and this means many Nigerians who want cars are going for Nigerian used cars which means many people have also sold their Nigerian used cars to others to make ends meet...This is reflective of a lower quality of life . Very correct analysis sir... 1 Like |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Nobody: 9:16am On Dec 13, 2017 |
DonVikings: Spotted.
The only hogwash we see here is the massive stinking hogwash you just typed. Whether you and the others like yourself like it or not, Nigerians would smile again. You can remain sad and depressed if you like. she's one of the misfortune here on nl don't mind that wowor girl 1 Like 1 Share |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Ovamboland(m): 9:16am On Dec 13, 2017 |
Yankee101: Exchange rate in 2014 : 180 Exchange rate in 2017 : 360
trillion/180 = $5.55 billion in 2014 trillion/360 = $2.77 billion in 2017
It has reduced by nearly half, not increased. Assuming 1trillion was made in both periods.
Voodoo economics. I still wonder how you people reason, where will the dollar come from when our main source of foreign exchange reduced by 70% in the same period before the very recent increase. You want the current government to continue the financially reckless policies of the previous government where portfolio investors and speculators creamed off most of our forex while our economy at the real sector stagnated. And you want them to supervise the final burial of the country by getting to a stage that we can't backpup with forex importation of essential products like energy raw materials and machinery while toothpick, shoes, garments, wine continue to be imported. Massive investment in infrastructure to improve the real sector for stability is ongoing such that agriculture and manufacturing will be the main stay of the economy, yet some of you long to go back to the era of speculators that is prone to evaporation at the slightest sign of slow down 2 Likes 1 Share |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Nobody: 9:17am On Dec 13, 2017 |
Yankee101: Exchange rate in 2014 : 180 Exchange rate in 2017 : 360
trillion/180 = $5.55 billion in 2014 trillion/360 = $2.77 billion in 2017
It has reduced by nearly half, not increased. Assuming 1trillion was made in both periods.
Voodoo economics. Donnt let hate be becloud your reasoning ,, balance of payment earnings are made on Int'l market floor ...dollar in use. therefore whatever earnings made is converted from dollar to the concerned local currency (naira).. what am saying is they've done the conversion from dollar to naira hence those figures ..your point is not just applicable here 1 Like 1 Share |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Nobody: 9:17am On Dec 13, 2017 |
Caseless: it does. I know if it was otherwise reported, you'd have explained to us why this report(if otherwise) is responsible for the high price of Garri. you would get a good garri for 140#/congo in Bodija market so don't be sentimental 1 Like |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Caseless: 9:35am On Dec 13, 2017 |
bamidelee:
you would get a good garri for 140#/congo in Bodija market so don't be sentimental isn't that cheap enough? You should quote 9jadoc. 1 Like 1 Share |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Yankee101: 9:37am On Dec 13, 2017 |
ericsmith:
Donnt let hate be becloud your reasoning ,, balance of payment earnings are made on Int'l market floor ...dollar in use. therefore whatever earnings made is converted from dollar to the concerned local currency (naira).. what am saying is they've done the conversion from dollar to naira hence those figures ..your point is not just applicable here Read the report again. All figures are in Naira. Stop assuming there was a dollar figure which was higher if it's not shown in the article. Some of the figures include ' goods we refuse to import or didn't need to import or couldn't afford to import' so there was no 'existing' dollars in actual sales that was needed to be converted to naira. All indices are clear, Nigeria saw a serious decline in imports/exports in the last 2 years, it's just beginning to pick back up to normal levels. I'm not interested in sentiments. Just hard cold numbers. 1 Like 1 Share |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Yankee101: 9:45am On Dec 13, 2017 |
Ovamboland:
I still wonder how you people reason, where will the dollar come from when our main source of foreign exchange reduced by 70% in the same period before the very recent increase.
You want the current government to continue the financially reckless policies of the previous government where portfolio investors and speculators creamed off most of our forex while our economy at the real sector stagnated. And you want them to supervise the final burial of the country by getting to a stage that we can't backpup with forex importation of essential products like energy raw materials and machinery while toothpick, shoes, garments, wine continue to be imported.
Massive investment in infrastructure to improve the real sector for stability is ongoing such that agriculture and manufacturing will be the main stay of the economy, yet some of you long to go back to the era of speculators that is prone to evaporation at the slightest sign of slow down Emmm...im still searching my head to see where I advocated for a return to the old guard. It's hard cold numbers, imports and exports declined in Nigeria in the last 2 years, it's just beginning to return to normal. What they reported is a play on numbers. That's why not a single line in the report was in dollars, the currency of international trade. It was written in Naira in order to fool non numbers people. The value and effect of inflation, devaluation and the time value of money was discounted. By every means I want a diversified economy saddled with the prospect of revamping the country into a nexus of robust productivity |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by kitaatita: 9:52am On Dec 13, 2017 |
GavelSlam:
I agree but please shed more light on this if you can. How many know about Federal Government's Economic Recovery and Growth Plan?. It is available for download and it is in simple English. You should read the document and ask 'what is in there for me?'. Explore opportunities in every economic direction of the government - export promotion and import substitution. Instead of thinking smart and working hard, the youths bond with idol soulmates on Naiaraland and find excuse in blaming their failure on Buhari. 1 Like 1 Share |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Nobody: 9:54am On Dec 13, 2017 |
Yankee101:
Read the report again. All figures are in Naira. Stop assuming there was a dollar figure which was higher if it's not shown in the article. Some of the figures include 'goods we refuse to import or didn't need to import or couldn't afford to import' so there was no 'existing' dollars in actual sales that was needed to be converted to naira.
All indices are clear, Nigeria saw a serious decline in imports/exports in the last 2 years, it's just beginning to pick back up to normal levels. I'm not interested in sentiments. Just hard cold numbers. hate as totally clouded ur vision ... expecting NBS to serve Nigeria favourable bal. of payment figures in dollars is like expecting ur pay slip earnings in dollar ,,Wil it make sense to you. NBS as done all d conversion wahala for you,, frm dollar to naira,, if naa dollar you they spend for ur room convert back from naira to dollar,,no SARs will harass u..#free world 1 Like 1 Share |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Yankee101: 9:58am On Dec 13, 2017 |
ericsmith:
hate as totally clouded ur vision ... expecting NBS to serve Nigeria favourable bal. of payment figures in dollars is like expecting ur pay slip earnings in dollar ,,Wil it make sense to you. NBS as done all d conversion wahala for you,, frm dollar to naira,, if naa dollar you they spend for ur room convert back from naira to dollar,,no SARs will harass u..#free world I see you troll opposing comments trying to earn your pay for today as a bark dog. You're doing a poor job of it Refer to NBS website itself if in doubt |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by donqx: 9:59am On Dec 13, 2017 |
good |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Bevista: 10:07am On Dec 13, 2017 |
Yankee101: Exchange rate in 2014 : 180 Exchange rate in 2017 : 360
trillion/180 = $5.55 billion in 2014 trillion/360 = $2.77 billion in 2017
It has reduced by nearly half, not increased. Assuming 1trillion was made in both periods.
Voodoo economics. Exchange rate in 1999 - N22/$ Exchange rate in 2000 - N85/$ Trillion/22 = $45.5 billion in 1999 Trillion/85 = $11.7 billion in 2000 It reduced by 75% in just one year of PDP administration. Now, who is an expert in Voodoo Economics? 2 Likes 1 Share |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Yankee101: 10:11am On Dec 13, 2017 |
Bevista: Exchange rate in 1999 - N22/$ Exchange rate in 2000 - N85/$
Trillion/22 = $45.5 billion in 1999 Trillion/85 = $11.7 billion in 2000
It reduced by 75% in just one year of PDP administration. Now, who is an expert in Voodoo Economics? They compared between 2014 and 2017 in the article. Nobody made the claim or compared the period you just reviewed. And it was the same person that was president in 1999 and 2000. Obasanjo. Is weed allowed this early in Nigeria? |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Bevista: 10:15am On Dec 13, 2017 |
ericsmith: When the news is good ... embittered people that have sworn to remain sad ,,just jump n pass the news .... all some do everyday is look out for bad news. Nigeria cannt present it GDP in dollars,,stil checkin dollar is nt our national currency..for comparism sake ,,previous trade bal in naira is compared with present bal of payment . Apart from that, the argument by @DoTheNeedful is not valid. A weak Naira will have a negative effect on Imports while having a positive effect on Exports. So, the NET effect on trade balance should be negligible. As long as we are exporting more than we import, the trade balance will always be positive regardless whether it is presented in NGN, USD or Bitcoins. 2 Likes 1 Share |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Bevista: 10:17am On Dec 13, 2017 |
Yankee101: They compared between 2014 and 2017 in the article. Nobody made the claim or compared the period you just reviewed. And it was the same person that was president in 1999 and 2000. Obasanjo.
Is weed allowed this early in Nigeria? Lol...you are trying to be clever by half. You were trying to discredit the current administration, but after I showed you how awful the early years of the PDP administration was, you are now spitting scum 2 Likes 1 Share |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Yankee101: 10:22am On Dec 13, 2017 |
Bevista: Lol...you are trying to be clever by half. You were trying to discredit the current administration, but after I showed you how awful the early years of the PDP administration was, you are now spitting scum I don't know if you're a paid attack dog or just plain thickness of ... In economics you compare 2 periods. |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by GavelSlam: 10:32am On Dec 13, 2017 |
Yankee101:
I don't know if you're a paid attack dog or just plain thickness of ...
In economics you compare 2 periods. And he pointed to your numbers :
In 1999 the dollar was 22 Naira.
By the year 2000 the dollar was 85 Naira.
Well done . |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Bevista: 10:35am On Dec 13, 2017 |
Yankee101:
I don't know if you're a paid attack dog or just plain thickness of ...
In economics you compare 2 periods. Thanks for your time. I'm done with you. |
Re: Nigeria’s Trade Balance Exceeds N1 Trillion For First Time Since 2014 – Report by Forumlink4: 10:36am On Dec 13, 2017 |
A gambler plays even when the odds are immutable and against him. Check details below for more details and take part of this now |