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How Nigeria Will Benefit From Currency Swap Deal With China - Business (4) - Nairaland

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Nigeria Snubs Dollar. Renews ₦‎3.2 Trillion Currency Swap With China / Naira Redesign Mops Up N1.8trn From Currency Outside Banks / CBN Issues Guidelines For China-Nigeria Currency Swap Deal (Pics) (2) (3) (4)

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Re: How Nigeria Will Benefit From Currency Swap Deal With China by onatisi(m): 7:06am On May 05, 2018
TheGoodJoe:


I am pointing out we have a lot to gain if the deal Sales through. It is as simple as that. As the process continues, some of the manufacturing companies will prefer to set up branch factories here. Imported goods we rely on will reduce in cost. Local production of raw Materials will grow.

Remember there is a large market here. So I do not see how this deal can be of negative to us. We produce little to no goods. So what are we restricting?

For now the big edge is our local production of raw Materials growing. In the past, that sector sustained the economy. Then we grow from there.
ok i hear .
Re: How Nigeria Will Benefit From Currency Swap Deal With China by TheGoodJoe(m): 7:07am On May 05, 2018
onatisi:


ok , it seems you are not taking in what i have been saying and you have only been looking at it from one angle . i will summaries my points .

I NEVER SAID NIGERIA WONT GAIN ANYTHING PLEASE READ MY COMMENTS AGAIN , WHAT I HAVE BEEN SAYING SINCE YESTERDAY IS THAT CHINA STANDS TO GAIN MORE

secondly, you mentioned Vietnam , the asian tigers are coming up big time and they are really giving Chinese industries a real go for their money , the only way chinese businesses can ensure that they also partake in the going is to open up their own factories too in Vietnam, recently many global industries have been moving to vietnam and please take note THE VIETNAM LOCAL INDUSTRY WAS ALREADY UP AND RUNNING BEFORE THESE COMPANIES CAME IN , so it is a win win for them
secondly the infrastructure is on ground in vietname NIGERIA HAS NONE , our infrastructural base is zero ,companies are pulling out on a daily basis . the Chinese wont come and set up in such a place ,,this isnt a charitable cause.
if the infrastructure is on ground then we dont even need the Chinese , this deal was primarily done to ease the dollar squeeze in the system , fg has noticed that imports from china accounts for majority of the nation private sector fx demands and the bulk of it was going to china that is why they brought out this deal but this deal will have a negative effect on the nation local production .

and to those saying many of us criticizing this move hasnt proffered an option they should read my comments again I SAID THE FG SHOULD MAKE SURE THAT ONLY GOODS AND ITEMS CAPABLE OF IMPROVING OUR LOCAL PRODUCTION ARE ALLOWED TO ENJOY THIS FACILITY . THIS DEAL SHOULDN'T BE MADE FOR IMPORTED GOODS WHICH CAN BE PRODUCED LOCALLY IN NIGERIA . IF CARE ISNT TAKEN EVEN BATHROOM SLIPPERS WILL BE IMPORTED FROM CHINA


TheGoodJoe:


A journey of a Thousand miles begins with one step. The current process has the potential of boosting exportation of raw Materials and later some Chinese companies can start their branches here to reduce cost of production.

We can not snap our fingers and expect to have a low unemployment rate.


I said this earlier. I do not see how what you are saying counters it. We are not even producing raw Materials from Agricultural products or mining in a large capacity before talking of manufacturing. This is a starting process.
Re: How Nigeria Will Benefit From Currency Swap Deal With China by godson4u79(m): 7:24am On May 05, 2018
Do you have a better idea? It's a win win for both countries.

daviesblaze:
NONSENSE angry china tends to benefit more than nigerians in this deal. i dont understand how our government officials could be this gullable angry

1 Like

Re: How Nigeria Will Benefit From Currency Swap Deal With China by daviesblaze(m): 7:33am On May 05, 2018
godson4u79:
Do you have a better idea? It's a win win for both countries.

hey bruv kindly retrace your steps by reading the post again. but this time in a condensed and assimilative manner
Re: How Nigeria Will Benefit From Currency Swap Deal With China by Nzeh12(m): 7:38am On May 05, 2018
So it took them 2 years to sign this signature. Since 2016 we saw pictures of these guys signing this thing.
Re: How Nigeria Will Benefit From Currency Swap Deal With China by amarilo: 8:01am On May 05, 2018
tempest69:
Dollar will drop by force. Since china is our major import market.
Any date for the drop?
Re: How Nigeria Will Benefit From Currency Swap Deal With China by godson4u79(m): 8:11am On May 05, 2018
I only ask a simple and straightforward question, which requires same.

daviesblaze:
hey bruv kindly retrace your steps by reading the post again. but this time in a condensed and assimilative manner

1 Like

Re: How Nigeria Will Benefit From Currency Swap Deal With China by abeyraj: 8:15am On May 05, 2018
Very simple question. Can u propose another way out?
ideology:


My bro forex scarcity is artificial leave that matter

Buhari' relatives are making billions from this artificial forex scarcity


Me wan swap citizenship?

Abeg you sabi road

1 Like

Re: How Nigeria Will Benefit From Currency Swap Deal With China by marv1: 8:56am On May 05, 2018
This is very serious.
Kids have taken over nairaland . They keep on typing trash and rubbish. I can hadly get any meaningful comments on first page.
Re: How Nigeria Will Benefit From Currency Swap Deal With China by Lloydfather(m): 9:02am On May 05, 2018
MrHowto:


http://saharareporters.com/2018/05/03/how-nigeria-will-benefit-currency-swap-deal-china

nothing new. I'm already using RMB for my transactions since last year,

But one disadvantage is that the exchange is not stable. And dollars exchange can be cheaper sometimes.
Re: How Nigeria Will Benefit From Currency Swap Deal With China by daviesblaze(m): 9:24am On May 05, 2018
godson4u79:
I only ask a simple and straightforward question, which requires same.

which i reciprocated.

what's the fuss about undecided undecided
Re: How Nigeria Will Benefit From Currency Swap Deal With China by Primusinterpares(m): 1:48pm On May 05, 2018
Enice:
is it the nigerian govt responsibility to fix and modernize industries?
industries like Refinaries, Power plants, PAN, etc...Yes Yes and another Yes.
Re: How Nigeria Will Benefit From Currency Swap Deal With China by Nobody: 4:16pm On May 05, 2018
Lloydfather:
nothing new. I'm already using RMB for my transactions since last year,

But one disadvantage is that the exchange is not stable. And dollars exchange can be cheaper sometimes.

Dollar cheaper than Yuan?
Re: How Nigeria Will Benefit From Currency Swap Deal With China by Lloydfather(m): 5:31pm On May 05, 2018
MrHowto:


Dollar cheaper than Yuan?
yah, since this year the rate was between 58 and 57.9 to 1 rmb.
Though I have other means where I got 57.6. When u convert them to dollars u will see they are the same.

china government are u using the rate of dollars in their country for the transaction. Which makes them to gain more.

The only benefit is that its a direct transaction to our Supplier Chinese account.
Re: How Nigeria Will Benefit From Currency Swap Deal With China by surgical: 7:23pm On May 05, 2018
ideology:


My bro forex scarcity is artificial leave that matter

Buhari' relatives are making billions from this artificial forex scarcity


Me wan swap citizenship?

Abeg you sabi road
na you understand the koko as in 1984 so is it now nothing new, nothing changed
Re: How Nigeria Will Benefit From Currency Swap Deal With China by GentlePEACE: 4:18pm On May 27, 2018
tempest69:
Dollar will drop by force. Since china is our major import market.
definitely... I hope this deal comes to realization... It will reduce the cost of imported goods e.g gadgets

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