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Nairaland Forum / Nairaland / General / Politics / Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China (27052 Views)
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Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Kainene77: 7:23pm On Apr 17, 2016 |
Volksfuhrer: Where did you get that from? And one more thing, when I used the term "the West" I was not referring to the U.S alone. I included all Western countries and their institutions of oppression (and neo-colonization) like the IMF, World Bank, NATO, etc. You are aware of the fact that the IMF consists of 188 countries - Western and non-Western with China being an influential and active member, don't you? The Yuan has just been included into its reserves. 1 Like |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by aresa: 7:34pm On Apr 17, 2016 |
banmee: The fact that we've experienced bad leadership and corruption in the past doesn't mean we can not move away from it or stop it. The fact that past politicians like the last PDP admin stole $20 billion power funds and left us in Until PMB, corrupt people walk away with their loot and never charged with anything, but not today, many are on trial for corruption even the number 3 Nigerian official. We are already winning simply because we are not bleeding because of corruption like a little over a year ago, our funds agencies used to pocket of divert now goes into our federal account, TSA is over N3 trillion in savings. This time last year, we did not have N3 trillion Things are changing and it's obvious even thought for obvious political reasons, tribalism or bigotry many of you can not see it which I do understand. For example. The western world has refineries. So does Nigeria. Do the ones in Nigeria function? Nigeria has roads. So does the western world. Are the roads in Nigeria pliable? The western world has power generating means. So does Nigeria. When last did you have 24hr uninterrupted power supply? Nigerians have good ideas but lack the knowledge, will, or virtue to make anything worthwhile work. Corruption is the bane of the country The fact that we've experienced incompetency and people letting our infrastructures rot and decay doesn't mean we can not change our bad ways and in fact, our refineries are coming back to life as we speak. The fact that past leaders and the last PDP admin stole $20 billion power funds doesn't mean we can not move away from all that or do better. A new 300MW solar power plant is part of the President's China deal. Yes, other leaders crippled us, but other leaders are now rescuing us. Your doom and gloom negativity about you own country doesn't alter the fact that we are progressing and making changes. Your backward views is not our current realities.. 1 Like |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by banmee(m): 7:59pm On Apr 17, 2016 |
aresa: If i had a nickel for every time i heard the bold statement you made i'd be a billionaire by now. You all don't learn from history and by not doing so are doomed to make the mistake of the past. It is not what i wish for you all, but by your actions and in-actions, it is what you wish for yourselves. Like i said before, you cannot maintain a university toilet and you are proposing maintaining a a partnership with an economic giant. It's all well and good that you are trying to make changes, but in what order? You have thieves running every facet of the economy and you are bringing new ideas to change things. Since you lack the capacity to perceive what is happening, i will endeavour to educate you a little. The 300MW solar power plant will be a flop because you don't have a maintenance culture. You haven't even figured out how to provide regular power supply with what you have and you are delving into a more complicated source or energy. See my point? you all love to put the cart before the horse. I will not say because of patriotism i will be blind, deaf and dumb to the facts on ground. The sooner you wake up to your reality the better for you. Wishing for changes is not the same as actually making changes. 1 Like |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Kay17: 8:19pm On Apr 17, 2016 |
Flets: Naira can be used for raw materials like palm oil and other agricultural produce. Chinese industry will need something aside from oil. Besides direct investment will require Naira too. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by aresa: 9:23pm On Apr 17, 2016 |
banmee: banmee: banmee: banmee: When people talk crazy and utter absurd and ridiculous views, I always go back to their past views and with the above quotes of yours especially the last one saying you are not a Nigerian, there's absolutely no reason for me to engage you in any discussion about Nigeria. Feel free to take your self defeatist, doom and gloom and apocalyptic mentality and views elsewhere, this is about Nigeria and Nigerians, not anti Nigerian elements and non Nigerians. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Flets: 9:26pm On Apr 17, 2016 |
Kay17: Over 80% of our gross imports is from china running into billions of dollars on a monthly basis. What are we exporting to china to balance payments of that magnitude. And pls dont mention palm oil, we do less than $5m dollars monthly of that...... and not even to china. Besides ..... what final product does palm oil form a raw material for in China? 1 Like |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by banmee(m): 9:43pm On Apr 17, 2016 |
aresa: You see how deranged you mentality is? You take my comments out of context leaving out the actual comments i responded to. I wonder why you did that? Oh i get it. Because my comments would make sense that way and you are trying all your best to make your views relevant but alas it still isn't. 1. When i said that Nigerians deserve to suffer i meant it. You deserve to suffer when you don't learn from past mistakes. 2. When i said "Nigerians are just too s.tupid. They support jungle justice but complain about this. This is what happens when people have no value for human life", i meant that too. How can you protest when a principal flogs a student to the point of scaring a child for life and yet support murdering a suspect in cold blood. The rationale escapes me. 3. When i said "Wrong. I am not Nigerian. Not anymore at least", I meant that as well. Who want's to associate themselves with morally corrupt people. I worked hard to change my mentality and Nationality. You are just a source of entertainment and a reminder to me of how phucked up where i came from is. Plus, you failed to expand on the thread you got this from. It goes back to what i was saying about you all not having a maintenance culture. https://www.nairaland.com/2998182/dangerous-crack-below-oworo-ogudu-bridge/3#43907075 You cannot maintain a bridge, how in God's name can you maintain solar power. Bros, I hope for your sake your ignorance will not destroy you. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by onatisi(m): 10:10pm On Apr 17, 2016 |
The op is simply asking one very simple question and the question is"how much is been swapped?" From all indications .... Noone knows except buhari and his friends |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Volksfuhrer(m): 10:56pm On Apr 17, 2016 |
Kainene77: Did you just ask me where I got that from?(!) Are you kidding me? China fought two proxy wars with the U.S in Korea and later in Vietnam, and you think the Chinese have forgotten! Since those two wars, the U.S government has done everything to undermine the Communist Party in China. So you think all is forgiven because Chinese goods flood the U.S markets. Even as we speak right now, another proxy war with the U.S is probably looming over the South China Sea! Your argument about China being an influential member of the IMF is ludicrous because Western countries have been "appointing" the chief executives of this institution for ages. The United States and some Western countries for instance have over 40 percent of the controlling shares in the IMF and the World Bank. In fact, these two institutions operate as extensions of the U.S government foreign policy! Your international politics truly sucks. Gherhrarahier meehn! |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Kainene77: 11:14pm On Apr 17, 2016 |
Volksfuhrer: So you actually think that when two countries fought wars in the past then they must be eternal enemies? So Germany still hates France and Great Britain because the defeated Hitler more than half a century ago? So you think that Spain hates Great Britain because Queen Elizabeth I defeated the Spanish King? President Obama and president Xi have met recently to discuss the South China Sea conflict as Obama is concerned that the conflict may escalate but he certainly did not challenge China on this issue. Moreover, China and USA are close allies in opposition to North Korea''s nuclear program. Gosh! Your argument about China being an influential member of the IMF is ludicrous because Western countries have been "appointing" the chief executives of this institution for ages. The United States and some Western countries for instance have over 40 percent of the controlling shares in the IMF and the World Bank. In fact, these two institutions operate as extensions of the U.S government foreign policy! Those who pay more, have more votes. Fair enough. And it does not change the fact that the IMF consists of 188 member states so who exactly has been sabotaging the development in Africa? The whole world? Your international politics truly sucks. Gerhrarahier meehn! When people run out of arguments ... 1 Like |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by aresa: 11:15pm On Apr 17, 2016 |
[s] banmee:[/s] aresa: No need to keep wasting my breath on gloom and doomy self defeatists with lazy mentality and can't do this and that spirit. People like you are dead weight and major drag on humanity. I'm a Nigerian and I believe in Nigeria, my country to rise above the sorry and decayed past you burried yourself and your existence in. Find other non Nigerians and anti Nigerian elements like you to exchange sad and pathetic views with.. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by banmee(m): 11:25pm On Apr 17, 2016 |
aresa: Lol.....SMH. You are not the first Nigerian to believe in Nigeria. And that is all they had. The belief. They forgot other ingredients though like common sense, duty, honesty, mentality, trust. As if belief alone can put a nation on track. And you might want to look in the mirror to see what a lazy mentality looks like. Your mind is too dull to to effect any change in Nigeria. You all will keep repeating the mistakes of the past with people like you as the future of the country. From the way you comment i think you see yourself as someone who probably outwits dull NL's on a good day. You've met you superior today. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by aresa: 11:26pm On Apr 17, 2016 |
[s] banmee:[/s] No need to keep wasting my breath on gloom and doomy self defeatists with lazy mentality and can't do this and that spirit. People like you are dead weight and major drag on humanity. I'm a Nigerian and I believe in Nigeria, my country to rise above the sorry and decayed past you burried yourself and your existence in. Find other non Nigerians and anti Nigerian elements like you to exchange sad and pathetic views with.. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by banmee(m): 11:28pm On Apr 17, 2016 |
aresa: Lol.....SMH. You are not the first Nigerian to believe in Nigeria. And that is all they had. The belief. They forgot other ingredients though like common sense, duty, honesty, mentality, trust. As if belief alone can put a nation on track. And you might want to look in the mirror to see what a lazy mentality looks like. Your mind is too dull to to effect any change in Nigeria. You all will keep repeating the mistakes of the past with people like you as the future of the country. From the way you comment i think you see yourself as someone who probably outwits dull NL's on a good day. You've met you superior today. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by amanikondo: 11:40pm On Apr 17, 2016 |
In contrast, Dangote did get a $2bn expansion loan from ICBC and this was announced. Why not 2Billion Yuan? Because Yuan is useless. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by aresa: 12:01am On Apr 18, 2016 |
[s] banmee:[/s] aresa: |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by banmee(m): 12:04am On Apr 18, 2016 |
aresa: |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by vivaciousvivi(f): 12:05am On Apr 18, 2016 |
goodlifehyd1:May God bless you for your comment. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by aresa: 12:19am On Apr 18, 2016 |
[s][ banmee: [/s] aresa: |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by banmee(m): 12:23am On Apr 18, 2016 |
aresa: |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by aresa: 12:51am On Apr 18, 2016 |
[s] banmee:[/s] aresa: Doom and gloomy anti nigerians loser, you ran out of your pathetic doom and gloom rant? ... Non Nigerian loser still dying over Nigerian issues...how pathetic and confused some of you losers are... |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by banmee(m): 1:06am On Apr 18, 2016 |
aresa: I told you that you are a source of entertainment and means for me not to forget how phucked where i came from is. Wake up from your psychosis. Also, You started the cut and paste now all of a sudden you realise that is a wrong move. I told you you've met your superior today. LWKMD |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by ernieboy(m): 1:14am On Apr 18, 2016 |
banmee:What exactly do you know about solar energy from an engineering standpoint? What makes you think it is much more complicated than hydro or thermal generation? As a matter of fact solar generation (using solar panels) is much less complicated than other forms of power generation. It can even be deployed at community levels thereby reducing the stress on our aging transmission lines. The only downside is the cost. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by banmee(m): 1:25am On Apr 18, 2016 |
ernieboy: I don't know that much, but i know that hydro generation is more efficient than solar powered generation. For Maintenance solar is more complicated because of it's fragility. Either way, from past actions Nigeria cannot maintain both. It is still unable to maintain a sturdier system it is delving into one that needs constant maintenance. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Nobody: 5:12am On Apr 18, 2016 |
Flets: China can always buy Nigeria's oil with the Naira thereby recirculating the Naira back to Nigeria. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Volksfuhrer(m): 6:08am On Apr 18, 2016 |
Kainene77: Yawns. Your attempt to make a straw man out of my arguments falls flat on its face. The fundamental reason that made China to fight 2 proxy wars with the U.S is still there. Despite the reforms China has made in recent times, China is still a communist state! The moment China begins to run a western style capitalism and democracy, China may no longer see the U.S as a major threat. So the examples you gave about Britain, Spain, Germany and France are abysmally wrong! The last time I checked, Germany was no longer a fascist state: the Nazi's are long gone. I'm sorry you are the one who ran out arguments. How more sordid can your logic go? You agree that Western countries have more votes in the IMF, but you aren't sure whether the West control the IMF because it has 188 member states! Jesus! You also stated that "China and the U.S are close allies in opposition to North Korea's Nuclear program". Damn!!! Who exactly do you think has been undermining UN sanctions against North Korea all these years? If you don't know it's China, then you are out of your depths. The West have always known this, except you. China might be miffed at the bogus display of North Korea's ballistic missile tests, but she's not opposed to a secret North Korea's Nuclear program. China is North Korea's godfather! It's amazing that you don't know the difference between posturing and real intent. Yes, it's true that China promised to 'monitor' new rounds of sanctions against North Korea: but that's just B.S posturing! You stated that Obama met with Xi over the conflict in the South China Sea, that it could escalate! But Obama did not challenge Xi over the issue. Yet, as we speak the U.S government has continued to ramp up military deployments of troops and hardware in and around the South China Sea to confront China! I reiterate, your international politics sucks. Be that as it may, I stand by my words that the West have been our enemies (adversaries, if you must) and it's time we tried new allies. If that offends you, so be it. But you need not use chicaneries to buttress your point that the West have always had our backs. Kindest regards. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Flets: 6:55am On Apr 18, 2016 |
kalokalo: Crude is priced in dollars, what exchange rate shall apply? You really think Nigeria wants crude oil paid in naira?, the IOCs spend their operating cost in dollars will earn their dollars back. Its not as simple as you think. China is in a tight pact with Russia and Iran on crude sales, and chinese crude requirement has been on the decline. .... you really think they would sacrifice their long term allies for Nigeria? |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by comos: 8:06am On Apr 18, 2016 |
Nigeria Government should protect the local industries against these chinese product. It will be better if the Swap deal is limited to only power and railway. |
Re: Feyi Fawehinmi: How To Make Sense Of Nigeria’s Currency Swap Deal With China by Kainene77: 12:52pm On Apr 18, 2016 |
Volksfuhrer: China is no longer a communist state in the traditional sense. In a communist state everything is owned by the government. There is no such thing as private property, private ownership or enterprise. People are not allowed to travel or study abroad. Nowadays, Chinese people have private properties and private enterprise. Chinese people travel and study abroad. The Chinese have adopted the free market theory propagated by the West for a long time, which led to an opening of their markets and closer and stronger bilateral relations with the West. So the examples you gave about Britain, Spain, Germany and France are abysmally wrong! The last time I checked, Germany was no longer a fascist state: the Nazi's are long gone. So since the Nazi regime is gone, Germany has no enemies but the fact the the old US presidents retired long time ago does not lead to better China US relations? I'm sorry you are the one who ran out arguments. Didn't you say they had about 40% of all votes? It is not even the majority of all votes. You also stated that "China and the U.S are close allies in opposition to North Korea's Nuclear program". Damn!!! Who exactly do you think has been undermining UN sanctions against North Korea all these years? If you don't know it's China, then you are out of your depths. The West have always known this, except you. China might be miffed at the bogus display of North Korea's ballistic missile tests, but she's not opposed to a secret North Korea's Nuclear program. China is North Korea's godfather! [b]The United Nations Security Council has adopted five major resolutions since 2006 that impose and strengthen sanctions on North Korea for [/b]continuing to develop its nuclear weapons program and call on Pyongyang to dismantle its nuclear program “in a complete, verifiable, and irreversible manner" and refrain from ballistic missile tests. The first two resolutions were passed shortly after North Korean nuclear tests in 2006 and 2009. The third came a month after North Korea successfully launched a satellite in December 2012. North Korea is prohibited from such launches under previous UN Security Council Resolutions because the technology in a satellite launch vehicle has potential dual use applications to ballistic missile development. The fourth was passed after North Korea’s most recent nuclear test in February 2013. The most recent was adopted in March 2016 after a nuclear test and satellite launch early in the year. The resolutions since 2009 furnished UN member states with interdiction authority, calling upon states to inspect North Korean cargo within their territory, and subsequently seize and dispose of goods prohibited by UNSC Resolutions. https://www.armscontrol.org/factsheets/UN-Security-Council-Resolutions-on-North-Korea So where and when exactly did the Chinese make use of their veto to stop sanctions against North Korea? It's amazing that you don't know the difference between posturing and real intent. I am sure Xi himself told you that. Be that as it may, I stand by my words that the West have been our enemies (adversaries, if you must) and it's time we tried new allies. If that offends you, so be it. But you need not use chicaneries to buttress your point that the West have always had our backs. Where did you read that I have a problem with Nigeria "trying" new allies? And who said that the West had your backs? 1 Like |
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