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Nigeria’s External Reserves Hit $27.2bn - Politics (2) - Nairaland

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Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b / Nigeria’s External Reserves Hit $40.4bn / Nigeria’s External Reserves Hit $33bn –CBN (2) (3) (4)

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Re: Nigeria’s External Reserves Hit $27.2bn by veraponpo(m): 10:17am On Jan 18, 2017
bettercreature:
Non-essential things like what? Give me example what we are making in Nigeria?Are we making cars? i will making small scale machines? just tell me what we are making,This government need to force than inflation by all means,otherwise people will keep suffering
You dont sort your problems overnight its a gradual process

If you guys know that why have you been complaining that Buhari is slow?

Patience is a virtue, but you want him to turn Nigeria to America in one year.

Remember he still has 4 months to make 2 years in power.

2 Likes

Re: Nigeria’s External Reserves Hit $27.2bn by rusher14: 10:20am On Jan 18, 2017
Lilimax:
External reserve kor, bokoharam ni embarassed
The standard of living has escalated and this present government should do something abut it embarassed

Buhari is doing well then.
Thanks for bringing this to our attention.
Re: Nigeria’s External Reserves Hit $27.2bn by luvinhubby(m): 10:20am On Jan 18, 2017
veraponpo:
Good news!

Imagine that Buhari was our president from 2010 to 2015, when oil price was on the average of $100Per Barrel.

With all the money that Jonathan made, he had only 2 fighter jets (one couldn't fly out of the two) now Buhari has increased the fleet to 9.

Jonathan met over $60B in Excess Crude A/c ($20B) and External Reserve ( Over $40B) yet he left about $28 B despite selling at good rate for more than 4 years.

No good road, he was owing contractors for more than 3 years, he couldn't not do 2nd Niger Bridge ( he had to use PPP), etc

Jonathan was an error.

Please give us a source for $60 billion excess crude account that GEJ met.

2 Likes

Re: Nigeria’s External Reserves Hit $27.2bn by Nobody: 10:22am On Jan 18, 2017
veraponpo:


If not for the Niger-Delta militancy, perhaps we would have had, since Buhari got to power, about $50B in our reserve by now.

That could have cushioned the effects of international economic challenge.

With the way we are going now, we might hit $40B before year end.

Note that our output per day is still less than 2.2M barrels per day ( we are between 1.8M to 1.9M).

Corruption is a problem.


I fully agree. If you notice, bombing resumed after Osinbajo left the Delta. The effort to reduce nigeria's daily production of crude is sponsored by the same people who have bled the country dry.

This government has reduced the estimated 400,000 bpd being stolen and blocked admin leakage ( t some degree) those criminal Enterprises are now looking for political leverage through bombing. If only the ethnic champions realized that these so called freedom fighters are actually private Enterprises seeking their own good. But no, people parrot "our oyel" "biafra", "Islamic emirate" just to whip up the ignorant.
Re: Nigeria’s External Reserves Hit $27.2bn by Lilimax(f): 10:22am On Jan 18, 2017
rusher14:


Buhari is doing well then.
Thanks for bringing this to our attention.

So when the standard of living is so high, Buhari is working
Re: Nigeria’s External Reserves Hit $27.2bn by bettercreature(m): 10:22am On Jan 18, 2017
veraponpo:


Manufacturers now have access to dollars, when last did you hear MAN complaining of poor access to USD?

Our Manufacturing PMI grew to 56% in December.

Our only problem is dwindling oil output and price. Oil and gas fell to -22% in the 3rd quarter.

Agriculture and other sectors grew minimally as well
Who told you manufacturers are getting dollar? the earliest they get dollar is 2-3 months after Form M has been submitted,during the two months,they would rely solely on black market at the rate of 497 naira there by selling their product at inflated prices

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Re: Nigeria’s External Reserves Hit $27.2bn by rusher14: 10:24am On Jan 18, 2017
Lilimax:

So when the standard of living is so high, Buhari is working

Most definitely.

Is there something else you might like to add?
Re: Nigeria’s External Reserves Hit $27.2bn by Nobody: 10:24am On Jan 18, 2017
Sai PMB Till 2023!

1 Like

Re: Nigeria’s External Reserves Hit $27.2bn by Lilimax(f): 10:25am On Jan 18, 2017
rusher14:


Most definitely.

Is there something else you might like to add?
embarassed
Re: Nigeria’s External Reserves Hit $27.2bn by Nobody: 10:25am On Jan 18, 2017
Pavore9:


Do one get out of recession by Forex being provided readily for imports of all sorts?

Even many so called importers are not importing anything, they are round tripping!
eg ymodulus
Re: Nigeria’s External Reserves Hit $27.2bn by mayoor15(m): 10:26am On Jan 18, 2017
A step to redemption
Re: Nigeria’s External Reserves Hit $27.2bn by bettercreature(m): 10:26am On Jan 18, 2017
veraponpo:


If you guys know that why have you been complaining that Buhari is slow?

Patience is a virtue, but you want him to turn Nigeria to America in one year.

Remember he still has 4 months to make 2 years in power.
Its a long term process,you can not diversify within 4 years
Re: Nigeria’s External Reserves Hit $27.2bn by veraponpo(m): 10:26am On Jan 18, 2017
greenpasture:


I fully agree. If you notice, bombing resumed after Osinbajo left the Delta. The effort to reduce nigeria's daily production of crude is sponsored by the same people who have bled the country dry.

This government has reduced the estimated 400,000 bpd being stolen and blocked admin leakage ( t some degree) those criminal Enterprises are now looking for political leverage through bombing. If only the ethnic champions realized that these so called freedom fighters are actually private Enterprises seeking their own good. But no, people parrot "our oyel" "biafra", "Islamic emirate" just to whip up the ignorant.

The irony of it is, the same set of people want the FG that does not have funds to develop their area.

They will continually complain of marginalization and neglect, yet they are the root -cause of the problem.

How can a government that does not have revenue develop your zone?
Re: Nigeria’s External Reserves Hit $27.2bn by rusher14: 10:27am On Jan 18, 2017
Lilimax:
embarassed

Please find out what high standard of living implies.

You guys know how to criticise without particularly being knowledgeable yourselves.

1 Like

Re: Nigeria’s External Reserves Hit $27.2bn by Pavore9: 10:28am On Jan 18, 2017
ABUZINZU:
eg ymodulus

I no mention any name o! cheesy
Re: Nigeria’s External Reserves Hit $27.2bn by Nobody: 10:31am On Jan 18, 2017
Pavore9:

I no mention any name o! cheesy
lol
Re: Nigeria’s External Reserves Hit $27.2bn by alizma: 10:33am On Jan 18, 2017
bettercreature:
This man should sell dollars to importers to reduce inflation,i don't fancy this nonsense,Egypt infact went to borrow 30 billion dollars to sort their dollar shortage problem
Egypt current reserve is presently $19 billion and its economy is 1000% healthier than Nigeria at the moment.You don't save money while your family are suffering
Don't quote me if you are not ready to defend yourself
that would be good idea but not before the reserve hits between $35b-$40b. talking about Egyptian reserve at $19b, have you consider their population?
Re: Nigeria’s External Reserves Hit $27.2bn by Pavore9: 10:43am On Jan 18, 2017
ABUZINZU:
lol

As of early December, some "importers" were busy making a profit of about N250k daily from an investment of N1m which was daily remitted out of the Country and returns back to Nigeria within an hour!

We know as e dey go! cheesy

2 Likes

Re: Nigeria’s External Reserves Hit $27.2bn by hustla(m): 10:49am On Jan 18, 2017
Pavore9:


As of early December, some "importers" were busy making a profit of about N250k daily from an investment of N1m which was daily remitted out of the Country and returns back to Nigeria within an hour!

We know as e dey go! cheesy

How's that done?
Re: Nigeria’s External Reserves Hit $27.2bn by Pavore9: 10:50am On Jan 18, 2017
hustla:


How's that done?

Na trade secret nah.
Re: Nigeria’s External Reserves Hit $27.2bn by Adminisher: 10:58am On Jan 18, 2017
veraponpo:
Good news!

Imagine that Buhari was our president from 2010 to 2015, when oil price was on the average of $100Per Barrel.

With all the money that Jonathan made, he had only 2 fighter jets (one couldn't fly out of the two) now Buhari has increased the fleet to 9.

Jonathan met over $60B in Excess Crude A/c ($20B) and External Reserve ( Over $40B) yet he left about $28 B despite selling at good rate for more than 4 years.

No good road, he was owing contractors for more than 3 years, he couldn't not do 2nd Niger Bridge ( he had to use PPP), etc

Jonathan was an error.

A very BIG error.... made worse by the fact that most of the people whose destinies he has delayed are even still.praising him. Everyone of them has this unbelievable desire to protect this guy. SMH

2 Likes

Re: Nigeria’s External Reserves Hit $27.2bn by Adminisher: 11:06am On Jan 18, 2017
greenpasture:


I fully agree. If you notice, bombing resumed after Osinbajo left the Delta. The effort to reduce nigeria's daily production of crude is sponsored by the same people who have bled the country dry.

This government has reduced the estimated 400,000 bpd being stolen and blocked admin leakage ( t some degree) those criminal Enterprises are now looking for political leverage through bombing. If only the ethnic champions realized that these so called freedom fighters are actually private Enterprises seeking their own good. But no, people parrot "our oyel" "biafra", "Islamic emirate" just to whip up the ignorant.

I need to address this 400000 barrels that GEJ was saying was stolen from Nigeria every day.
400000 barrels everyday, constant at that figure for four years.
This was ROBBERY from the national treasury.

ROBBERY on a scale unimaginable ...happening at a time they were paying close to N100bn to militants to 'secure' pipelines.

The time will come when God will punish those praising that extremely corrupt government more then GEJ himself. The best way for God to do it is to give BUHARI three terms in office. The last one via Constitution ammendment. That way people will learn the lesson of in-house criticism within your political base so that you don't continue to mess up and allow the opposition to take over
As it is people have not learnt their lessons.

1 Like

Re: Nigeria’s External Reserves Hit $27.2bn by daneni1(m): 11:09am On Jan 18, 2017
Lilimax:

So when the standard of living is so high, Buhari is working

You could have said cost of living not standard of living. When standard of living is high, den Buhari is doing well.

1 Like

Re: Nigeria’s External Reserves Hit $27.2bn by daneni1(m): 11:11am On Jan 18, 2017
rusher14:


Please find out what high standard of living implies.

You guys know how to criticise without particularly being knowledgeable yourselves.

Maybe she mean cost of living
Re: Nigeria’s External Reserves Hit $27.2bn by rusher14: 11:21am On Jan 18, 2017
daneni1:


Maybe she mean cost of living

It appears she doesn't know but to criticise comes easy to her.

2 Likes

Re: Nigeria’s External Reserves Hit $27.2bn by daneni1(m): 11:27am On Jan 18, 2017
rusher14:
It appears she doesn't know but to criticise comes easy to her.
To criticise is easy and cheap I guess

3 Likes

Re: Nigeria’s External Reserves Hit $27.2bn by kabrud: 11:46am On Jan 18, 2017
Lilimax:
External reserve kor, bokoharam ni embarassed
The standard of living has escalated and this present government should do something abut it embarassed

The emboldened is actually the dream of everyone. This one too might be one of the 'graduates' making noise about Buhari's certificate. Just imagine how u changed ur intended message to the exact opposite by using words whose meaning u don't know. Free English tutorial for u: next time, use 'cost' rather than 'standard'.

1 Like

Re: Nigeria’s External Reserves Hit $27.2bn by kabrud: 11:54am On Jan 18, 2017
Lilimax:

So when the standard of living is so high, Buhari is working
FYI, high standard of living is everyone's dream. U should have listened to ur English teacher.

2 Likes

Re: Nigeria’s External Reserves Hit $27.2bn by obailala(m): 12:02pm On Jan 18, 2017
bettercreature:
Yes that is the only solution to our problem,Most companies in Nigeria need dollar to import raw materials,they need dollars to import new machine,airline need dollars to repatriate their money,many companies are moving out because of dollar
Exchange rate is the only problem we have in Nigeria at the moment and without 24/7 availability of dollar,Nigeria will never get out of recession,Egypt is a good example
Are you suggesting we empty the reserves to end recession?... When the reserves hit zero, what then would be our fate? or you think that isn't possible?.... Before the painful restrictions on forex were imposed, do you have an idea how fast the reserves were falling?

3 Likes

Re: Nigeria’s External Reserves Hit $27.2bn by ScotsReferendum: 12:22pm On Jan 18, 2017
bettercreature:
This man should sell dollars to importers to reduce inflation,i don't fancy this nonsense,Egypt infact went to borrow 30 billion dollars to sort their dollar shortage problem
Egypt current reserve is presently $19 billion and its economy is 1000% healthier than Nigeria at the moment.You don't save money while your family are suffering
Don't quote me if you are not ready to defend yourself

Instead of importing, why not provide industrial parks, tax incentives and gas power plants in these parks to encourage foreign companies to set up their factories there so as to eliminate importation.



Abagworo,

outright importation is not healthy. Rather you increase tariffs to a point where the imported product becomes too expensive when compared to locally manufactured ones either by indigenous or foreign companies.

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