NgeneUkwenu:
lalasticlala front page

Jesusloveyou:
is your brain functioning?

Your ineffectual buffoon depleted the reserve without a single infrastructure.
Buhari is building infrastructure and adding to the reserve,
That is a great feat.

Bolustical:

But the government that depleted the same reserve was a sane and focused government abi?

You don't sound sane yourself.

Jaideyone:
but when the FG refused to give forex subsidies and the naira went to over 500naira per dollar you were wailing about government inaction? now the government is keeping the naira around 360 and you are still complaining. oga o

AroOkigbo:

Tell me one infrastructure this administration started, completed and commissioned in the over 2 years they have been in power.
I mean just ONE in ANY of the 6 geopolitical zones.

Yyeske:
Some people who hate Buhari will avoid this thread

python1:
Gradually, we are getting there. To think this is the same reserve that nosedived during the oil boom is very amusing. Chinko Japanese can make Atichukwu their only savior in their barren lands, but not Nigeria. **Spits on flat objects**

OnucheAdams:


I was - and is still - an advocate for floating the Naira. Had Buhari towed that path, the Naira certainly wouldn't have ballooned to 500, and would have found its level at circa 300. The spike in exchange rate was due to the heightened uncertainty brought about by inconsistent Government policies, which further created room for speculators...

The amounts spent subsidizing the Dollar should have gone towards building sustainable infrastructure....

python1:

Yes, the answer is $35.9b, but the question now is; why did this same reserve drop from $47b to close to $30b when the income was high as compared to same reserve on the increase now at averagely half of the previous income? What exactly was done with it? It should had increased to close to $100b considering the nation's income then, but even if it did not increase, why not maintain it at that value? Why dropping it again?

Nwachineke1980:


Foreign reserve@May 2015 was $29.6b ,

@December 2017 $36.9b.

Difference of $7.2b.

National debt @May 2015 was 12t naira($32.2b).

National debt @December 2017 20t naira($58b).

This does not include the approved $5.5b loan.

Debt from $32.2b to $58b in less than three years.I pray some people receive sense.

givan:
$36.9 billion - $1billion =...

plaetton:

Don't be silly.

You mean you're so cognitively impaired that you don't remember that just weeks ago , this same vagabonds reported foreign reserves had reach $40b ?

Don't you also remember that they also wailed so loudly that GEJ left Nigeria broke with only a paltry sum of $30b in reserves ?

Only the cognitively impaired take these vagabonds in government seriously with their voodoo arithmetic.

python1:

Obasanjo saved over thirty billion dollars, yet nothing is working, and you were told it is "the useless old president" that squandered it right? Pls, I'm begging, don't quote me again. Thank you for your understanding.

baba2070:
wat is d benefit to the masses?

OnucheAdams:
What's the correlation between foreign reserves and development, if any?
You claim to have a stash of funds in reserves, yet you are embarking on mindless borrowing to fund infrastructure in tandem with unneeded FOREX subsidies; who's fooling who here?

Bizibi:
The BMC crew is almost complete on this thread,just look at the way they are celebrating it......
They will say the govt is working and they are saving to give Nigerians a better life,I really love these set of sycophants.

Proudlyngwa:


kindly explain how APC killed the economy

AroOkigbo:

Tell me one infrastructure this administration started, completed and commissioned in the over 2 years they have been in power.
I mean just ONE in ANY of the 6 geopolitical zones.

Rityonyi:
the last time I checked, the CBN gov. said the foreign reserves was at N38 billion.

I don't know what to believe anymore with this APC and their lies. Anyway that's the change we voted for May God help us.

Nwachineke1980:
Foreign reserve@May 2015 was $29.6b ,@December 2017 $36.9b.Difference of $7.2b.National debt @May 2015 was 12t naira($32.2b).National debt @December 2017 20t naira($58b).This does not include the approved $5.5b loan.Debt from $32.2b to $58b in less than three years.I pray some people receive sense.

dipoolowoo:
By Dipo Olowookere

As at Thursday, December 14, 2017, a total of $36.9 billion was left in the foreign reserves of Nigeria, data from the Central Bank of Nigeria (CBN) reveals.

According to the apex bank, this amount grew by 0.4 percent from the previous day, Wednesday, December 13, 2017, when the reserves had $36.7 billion.

Nigeria’s foreign reserves have recorded a growth of 5.1 percent in from December 1 to December 14, 2017.

On December 1, 2017, the amount in the reserves was $35.1 billion.

Already, the external reserves of Africa’s largest economy have recorded 41.2 percent increase this year.

According to data obtained by Business Post on the website of the CBN, where details of the reserve management and movement are published, the country opened the year with $26.1 billion in the reserves.

The government had a target to increase the amount in its external reserves to $40 billion before the end of the year, but may not be met going by the rate the reserves have grown this year.

https://www.businesspost.ng/2017/12/17/nigerias-foreign-reserves-grow-36-9b/