Desyner:
What interest rate did I attach to the Foreign Reserve dumbo? Isn't zero equal to nothing again?
Fyi, optimum foreign reserve level is what can cover for 3-6 months of forex needs. At less than $2B/month Nigeria can run smoothly with $24B of Foreign exchange and have $16B tn pay for much needed foreign services like infrastructure.
Read it up on thebalance.com or other reputable sources and stop being daft in public.

Cc: obailala, deenee, praktikals, martineverest, usba, adminisher, gavelslam.

hmmmmm......

obailala:
Foreign reserves and capital funds for infrastructure serve 2 very different purposes; everything isnt elementary logic as you expect. $39bn in the reserves can guarantee Nigeria faster loan approvals at lower interest rates than if we had say $29bn in the reserves; likewise, $49bn will also afford Nigeria more loan approvals at even lower interest rates than what the $39bn could give us.

Once again, external forex reserves and funds for capital projects serve 2 different purposes and shouldn't be compared.

well said

martineverest:
hmmmmm......

.......is that equals to you being speechless?

Desyner:
.......is that equals to you being speechless?

I have carefully read most of ur comments.... U are not really right tho

martineverest:
I have carefully read most of ur comments.... U are not really right tho

Point out the inacurate ones then.

obailala:
Foreign reserves and capital funds for infrastructure serve 2 very different purposes; everything isnt elementary logic as you expect. $39bn in the reserves can guarantee Nigeria faster loan approvals at lower interest rates than if we had say $29bn in the reserves; likewise, $49bn will also afford Nigeria more loan approvals at even lower interest rates than what the $39bn could give us.

Once again, external forex reserves and funds for capital projects serve 2 different purposes and shouldn't be compared.

designer... This is a comprehensive explanation

Ode who doesn't know 0% is a value of something....more of a mumu, who thinks the foreign reserves, can form part of any government spending...

...I bet your next reply will be that we should use our foreign reserves to fund the 2018 budget..

...you are a clown

Desyner:
What interest rate did I attach to the Foreign Reserve dumbo? Isn't zero equal to nothing again?
Fyi, optimum foreign reserve level is what can cover for 3-6 months of forex needs. At less than $2B/month Nigeria can run smoothly with $24B of Foreign exchange and have $16B tn pay for much needed foreign services like infrastructure.
Read it up on thebalance.com or other reputable sources and stop being daft in public.

Cc: deenee, praktikals, usba, gavelslam.

Swisscoinng:
Ode who doesn't know 0% is a value of something....more of a mumu, who thinks the foreign reserves, can form part of any government spending...

...I bet your next reply will be that we should use our foreign reserves to fund the 2018 budget..

...you are a clown

please easy on the joker

Swisscoinng:

[s]
Ode who doesn't know 0% is a value of something....more of a mumu, who thinks the foreign reserves, can form part of any government spending...

...I bet your next reply will be that we should use our foreign reserves to fund the 2018 budget..

...you are a clown
[/s]

Trashy reply

Go and cure your ignorance...

...it is a disease like they say

Desyner:
Trashy reply

martineverest:
designer... This is a comprehensive explanation

Even obailala must have realized his mistakes. This is the problem i have with poster who appear assured in their submission and misled people like you. Have you searched thebalance.com for the explanations? I doubt you have. Google "standing5 foreign exchange reserve" there is a nairaland thread for this point of cotention.

Swisscoinng:
Go and cure your ignorance...

...it is a disease like they say

Either you read thebalance.com and realized your error but don't want to admit to avoid confirming my assertion or you didn't read it, get out.

madridguy:
Good development.

Happy new year Sai Baba

Happy new year Sarrki/hadura29

Happy new year APC world wide

Happy new year Nigeria.

Baba happy New Year ooo... How family?

GavelSlam:


...

Nigerian economy is ill. Who borrows if he has enough. You don't borrow to pay interest of 7% per annum for 10 years and 6%p/a for 30 years if you have enough. The reason most youths dont reason again is because we approach issues with personal, selfish, religious and ethnic interests.

One doesn't wake up and start comparing Nigeria and US economies. How ? Because they have the largest National debt ? No. What is the per capita income in US, GDP pert capita, Job creation indices, mininimum wage ($16 par hour skilled), health security, and general quality of life.

modik:


To show how flawed your assertion is, could you answer this simple question....

When exchange rate was N187/$1 during GEJ's tenure, what was the value foreign reserves?

If only you realised how flawed this your argument is. Do you realise you're talking of USD here and not naira?... the value of the Naira dropped not the value of the USD, $30bn in 2014 is still $30bn in 2017, there's no point comparing or converting it to the Naira value here. The difficulty in raising $30bn in 2014 is roughly similar to the difficulty in raising same USD amount today, in fact, it's even far more difficult today cos of the poorer value of the Naira.

Adminisher:
Jonathan, see your life.

By $11 bn Euro Bond ? Den it rose by that figure in November 2017.

Economic manipulation is not economic growth.

Desyner:
Even obailala must have realized his mistakes. This is the problem i have with poster who appear assured in their submission and misled people like you. Have you searched thebalance.com for the explanations? I doubt you have. Google "standing5 foreign exchange reserve" there is a nairaland thread for this point of cotention.

Hmmm.. I'm not sure I understand the mistakes you talk about; I still stand by exactly what I said earlier, forex reserves and funds for capital expenditure serve 2 very different purposes. You're obviously still oblivious of the importance of a country having a robust foreign exchange reserve, especially an import dependent nation like ours; that explains why you think it's a wise thing for a country with a pathetic reserve to still dig further into it to fund infrastructure (probably toll reserves run down to zero).

Saudi Arabia with with a population of roughly 30million had reserves of up to $750billion prior to the crash in oil prices; you really dont think they are fools do you?... Following the oil crash, in under 2 years, Saudi's reserves dropped by over $200billion and the leadership ran into a desperate frenzy, removing fuel subsidies and instituting austerity measures and that is for a country of 30 million people which actually produces/refines its own petroleum products.

So did I just see you mention above that $24billion should be sufficient for an import dependent country like Nigeria with over 180 million people and whose forex demand well exceeds $10billion monthly?... wonderful!... Where on earth did that logic come from?

Cc: martineverest

thunder74:
How sensible it is for a father to save money in a bank while his kids are hungry? How sensible?

Typical black man's logic, feast on all the food in the storehouse today and die when the famine comes tomorrow. If the father spends all the money today, even the dry kpokpo garri and groundnut he manages to feed with and sustain his children today will not be available tomorrow; isn't this common sense?

OBJ saved significantly, that was the reason Nigeria weathered the storm during the major global economic crisis of 2008 under Yaradua. If that same momentum of saving was maintained post Yaradua (especially as oil prices went sky-high between 2010 and 2014), Nigeria wouldnt have had anything less than $100bn in reserves prior to 2014 when oil prices plummeted. If something significant was in the reserves, the entire forex crisis and naira crash, the recession, the inflation, and the accompanying weeping and wailing that followed would never have been half as bad if Nigerian leaders applied the simple wisdom of Joseph/Pharoah to save for the coming years of famine.

Oh sorry I forgot, what I just said above might probably makes no sense cos to many, all the economic mess we're in today is purely the handiwork of the dullard who assumed power in 2015.

obailala:
Hmmm.. I'm not sure I understand the mistakes you talk about;

Ok let me break it down further.
Govt controlls what goes into FR and other federation accounts. Now the optimum level of FR for nation is the forex that can satisfy 3-6 months of forex demand. Our monthly forex demand is less than $2B ($24b/annum), so all the govt need do was to channel the forex into accounts that were funding foreign executed projects. Instead the govt borrows funds with interest.

obailala:

So did I just see you mention above that $24billion should be sufficient for an import dependent country like Nigeria with over 180 million people and whose forex demand well exceeds $10billion monthly? ... wonderful!... Where on earth did that logic come from?

Cc: martineverest

please cross check that part of forex demand.

Bless God.

hadura29:


Baba happy New Year ooo... How family?

Desyner:
Ok let me break it down further.
Govt controlls what goes into FR and other federation accounts. Now the optimum level of FR for nation is the forex that can satisfy 3-6 months of forex reserve. Our monthly forex need is less than $2B ($24b/annum), so all the govt need do was to channel the forex into accounts that were funding foreign executed projects.

Less than $2billion/month forex demand?

Can you kindly explain where you got that figure from cos from what I thought I knew, the last time Nigeria had less than $2bn monthly demand was as far back as 1999 when virtually no one had mastercards, visa cards etc, when we didnt import our over 40million litres daily fuel demand, when Nigerians still considerably consumed Nigerian products, when we had a microscopic few Nigerians going abroad for schooling or medicare, when we had an insignificant number of Nigerians engaging in international businesses of importing toothpicks etc etc.

nnachukz:
Perfect news to deceive the automated mumus as if it affected their life positively in any way.

Eight dead people appointed by the chief dullardkpo and and another appointed for a private company.
This distraction tactics will no longer work.

When the reserve was been looted by the most cluelessman that ever walk the surface of the earth, How did it affect your life positively?

Desyner:
FIXED!

read the edited yourself and you will see you are still directing it to yourself..

anonimi:


You are such a sore loser with your fake propaganda and lies to earn your 30k BMC peanuts.


www.nairaland.com/attachments/4241395_obj_jpeg69052097a4fedb4aeb4c99f2aefd08a3


www.nairaland.com/attachments/6357739_img20171202120050_jpeg6ecfd3f82fd9c8a51481d8dcf4a16a70

OMG i know you will surely be here spamming NL with those pictures hahha...

Mind to tell us standard of living in 1999 and in 2015.. How much is the minimum wage in 1999 and 2015..

GEJ met about $48billion and depleted it to #29billion despite rise in crude oil price but your likes that are still pained from the 2015 election lost will be comparing the life of 1999 to 2017... I shake my head for your sense of thinking..

anonimi:


Did you ask about Aso Rock clinic?
Why you want open fowl nyansh of barawo bubu and the 40 thieves cabal presidency of the All Poverty Congress, APC
They don't even have syringe, you are asking of equipped.

Guy stop fooling yourself now, Aso Rock clinic have been there for decades and not equipped, GEJ was in power for 6yrs with high in price of crude oil (The highest in history) but could not fix anything not even the road leading to his father house..

anonimi:


Is that why barawo bubu is courting SE votes again?
You must be a confused joker just like the barawo bubu whom you worship and adore.


www.nairaland.com/attachments/6411492_buhariunity_jpege6b944865fd28349d890aa9f1f00fb23





[img]http://3.bp..com/-8mJYOXm-b5A/VG87TvNPXQI/AAAAAAAAOGI/igXt7T3n8R8/s1600/gen%2Bbuhari.jpg[/img]

I like reading your comments sometimes do you know why? I could imagine the pain in your heart when you are typing as there's no free money anymore..

buchai:
it's a capital lie another campaign write up for buhari. as you all can see this year is a campaign year so the earlier the better this is nonsense buhari will not come back 2019 #irejectbuhari2019.

LOL everything is a lie even your father impregnating your mother and giving birth to you was also a lie huh?


Your masters like Fayose, Wike etc will surely have access to the information and know it's true reason they never say anything against it..

wail on boy Sai baba till 2023..

Captain6:
And the common man is still hungry

common man should brace up and work instead of waiting for FG to feed them..


Buhari make it clear in his speech that you should not put all your hope on Govt for employment as FG have open chance for you to make it in life if you have brain..

Bizibi:
no need saying anything,you see how the paid agents are rushing to celebrate mediocre.

Saving is already a priority and achievement. The APC sycophants are already celebrating a new achievement.

Since your hero the most clueless award winner cannot safe, You think everyone will be like him?

IBBG:
by the time he starts paying petrol susidy, we will know how much will be left. jonathan was paying for petrol susidy as well as defending the naira in other for things to be cheaper in the economy. in other words he was subsidizing things for us. But buhari has done the opposite so far.

The bold make him more clueless because he can't think for himself, He is doing the bidding of those businessmen then instead thinking about how to better Nigeria..

Buhari is a man that take the bull by the horn and put Nigerians on part of saving when you earn than spending all..


I have benefited so much from Buhari policy despite not being in Nigeria..