If I hear

P

[quote author=drolanight post=36252774][/quote]

For gun

Good development

Anybody that says Buhari's government is not working should have a block tied to his chest and cast into the lagoon..

Land for sale here in VGC

Another 4 plot here in Asokoro/Maitama.

senier007:

Foreign reserves hit $31.5bn following blockage of leakages

•P/Harcourt, Warri refineries resume operations, Kaduna begins August

•Locally refined petroleum products may hit 20m litres August

Source: http://www.vanguardngr.com/2015/07/buharis-corruption-watch-begins-to-yield-results/

A manager who does not INVEST in new machinery, raw materials supply, human capital development etc but SIMPLY sits on revenue from PREVIOUS investments is only cultivating a time bomb.



The Turn Around Maintenance paid for by Jonathan is bearing fruits as expected.

kenedy175:
Still reaping the good deeds of GEJ's Transformation

Let Brainless Booboo ensure continuity of this good policy to avoid a repeat of his FAILED two years as military DICTATOR.




www.nairaland.com/attachments/2095210_worst_jpeg588f192a23aa02a7b350a8bbe5d18306




www.nairaland.com/attachments/2191699_bc5fu8aevkci_jpeg7fd60ed9cdeded70e187b8a2c1fd9480

Sweetcollins:





U mean lagos Guber aspirant?

You no lee me?

atlwireles:
So the CBN governor is now giving us figures?

Change is Good.

We Ar Goin Dere

OK, good to know. abeg I neva c light since yesterday. my soup go spoil o. i tot light shld b beta dix raining season na.

Space bookers are liable to come back.

Aii

Director of Radio biafra threatens Nigeria as a whole:
https://www.youtube.com/watch?v=ShN78IljlC0?a via @YouTube

And why is a dollar N240?

Where are the pictures of the refineries working?

And if they are working, who set the platform for it to work?

APC and their lies!

Great start

Ok.good news.

Hp compaq nc 6220 Laptop for sale. Ram: 2.50gb. 55.7Gb of hard disk. Windows 7.Intel.Bat durability:2hrs plus.I will also give you the charger and an external dvd. You can check to confirm the authencity of the info given before purchase.I'm selling it bacause someone just blessed me with a bigger laptop.Its working perfectly.Price:20k. Call: 08070752784 Thankyou.

BedLam:
What watch exactly ? Has he laid any foundation ? Foreign reserve is high because we are no longer propping the naira. Smh for gullible folks. Favoring those that gave him 95percent of votes is the height of corruption.

Only those who got Eyes to reason can see the laid foundation not some ,,,,,,,,,,,,, '''',,,,,,,,,, like ?u?

...yawns...

Yeah, right!

may0001:
Change is Good.

What change? look at these almajiris

ilawanson44:
[size=18pt]And why is a dollar N240?

Where are the pictures of the refineries working?

And if they are working, who set the platform for it to work?

APC and their lies![/size]

APC is the worst thing to ever happened to Nigeria...with Their terrorist President.

Another loose propaganda when this is pure economics.

Prior to this time, the FG through CBN provides buffer for the Naira using the reserves. This is done by financing foreign transactions at CBN fixed rates... and this includes importers, students, medical tourists, PTA etc. As such, Nigerians with proper documentations do not buy dollars from the black market as this is financed through the CBN

Fast forward to last few weeks, CBN has stopped financing imports for 40 staple items including rice, tomato paste etc. These were the bulk items that make up over 80% of the CBN foreign transaction financing. Unfortunately, these importers have had to go seek for foreign currencies in the black market.

Due to this happenings, The dollars that were hitherto available for buffering the naira through financing foreign imports have been re-channelled back to the reserves.

But unfortunately, this is also one of the major reasons a dollar is selling for 245 naira because these importers have increased the demand in the black market, a kilo of chicken has increased from 700 to 1200 and almost the price of every item in the market has risen by 20% or more.

The key question is now.... Do we have to grow our reserves at the expense of very high inflation? Of what benefit is it to the Nigerian masses that we have a huge reserve but the Naira is in a mess and the masses with a minimum wage of 18K cannot afford to eat.

The current increase in reserves is a farce and the bane of our current economic and financial troubles. This is why the country desperately needs the services of a finance minister/ economic adviser to check the activities of CBN

Emekamex:
Waiting for APC E-goats to still call Emefiele names. The man is trying his best:; it is a shame people fail to see this but will be quick to reference it as Buhari's achievements while it isn't, this is solely GEJ's and Emefiele's handwork.

NgeneUkwenu and Beremx

If the Refineries have resumed work, why is petrol and other petroleum products still expensive?

If the CBN policy is well maintained as claimed, and Naira well priced at N197 to $1...is that a good price compared to Naira's worth before its devaluation?


Has the standard of living for the people of Nigeria increased following the increase in their foreign reserve from $28b - $31.5b?
.
.
.
.
.
.
.
I keep my fingers crossed in anticipation for a better Nigeria, but these stories are not different from the ones we already heard, and it's always the poor and helpless masses that suffer the storm generated by people that had made a deal with devil posing as law makers and leaders!

God save Nigeria!

ilawanson44:
[size=18pt]And why is a dollar N240?

Where are the pictures of the refineries working?

And if they are working, who set the platform for it to work?

APC and their lies![/size]

Sharap. PDP came to power when the 3 refineries are working in full capacity. When will u people rise above sentiment?

Sa

ibietela2:


NgeneUkwenu and Beremx

You mean these guys?

It is well

Emekamex:
Waiting for APC E-goats to still call Emefiele names. The man is trying his best:; it is a shame people fail to see this but will be quick to reference it as Buhari's achievements while it isn't, this is solely GEJ's and Emefiele's handwork.

GEJ kor GOAT ni! Your head like tumbler.

If the CBN outrightly refuses to supply foreign exchange to many importers, reserves will go up but the downside is that the Naira's value will plummet. That is essentially what we have seen as US dollars become scarce.

The persistent decline of the naira in the parallel market followed the introduction of new measures by the central bank last month, restricting access to hard currency at the interbank in a bid to conserve dwindling foreign exchange reserves.

http://www.punchng.com/business/money/cbn-adjusts-rate-as-naira-falls-to-244/

The accumulation of foreign reserves at the expense of the Naira's value is not new. Here is a quote from Wikipedia in respect of the Sani Abacha era

Despite the international shun his government endured, he oversaw an increase in the country's foreign exchange reserves from $494 million dollars in 1993 to $9.6 billion by the middle of 1997

https://en.wikipedia.org/wiki/Sani_Abacha. Was this because the Abacha regime was not corrupt? No. What happened to the Naira whilst all these reserves were accumulated? Naira went from 22 Naira to a $1 in 1993 to 84 Naira to $1 in 1998. https://www.nairaland.com/498412/nigeria-exchange-rates-dollar-history.

The true test of whether Buhari's anti-corruption measures are working will be a repatriation of stolen wealth to nation's coffers. We won't have to read between the lines as any refunded loot should be made public.

CR77:
APC is just full of propaganda and lies...

U just won an award:
THE MOST VALUABLE DULLARD OF NAIRALAND

Topccy007:
That's one of the benefits of change.

Expect more.....

what does using efcc to police officers have to be with the completion of maintenance operations that started last year