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Nairaland Forum / Nairaland / General / Politics / Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b (21808 Views)
British court orders Irish firm to seize $9b Nigeria’s foreign reserves / Nigeria’s External Reserves Hit $44bn First Time In 2019 / When PDP Hears That Nigeria Foreign Reserve Has Hit $47 Billion USD (2) (3) (4)
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Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by TheAlchemist: 7:42pm On Apr 09, 2018 |
My people from South South thank you for this good news! |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Mypeople2(m): 7:43pm On Apr 09, 2018 |
kahal29:Well that is nice.It's like having N10,000 in your account yet you are sick,hungry,homeless, untidy,begging people for N100 and even borrowing N50 everyday from people,still you don't want to touch that 10k.In fact,you are adding the little ones they give to you to the 10k.Nigeria,I hail thee! 8 Likes 1 Share |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by allanphash7(m): 7:44pm On Apr 09, 2018 |
I need electricity 3 Likes |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by rainylad(f): 7:44pm On Apr 09, 2018 |
semyman: What is there to be happy about? |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by congorasta: 7:44pm On Apr 09, 2018 |
I played ras kimono Music this morning - under pressure... I wonder if he was a prophet. Nigeria is under pressure 3 Likes |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Charly68: 7:45pm On Apr 09, 2018 |
That is why the naira is stabilized ..Good job,increasing reserves at lower oil price rate..only God knows how our former leader depleted the reserve money 8 Likes 1 Share |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by efficiencie(m): 7:47pm On Apr 09, 2018 |
AZeD1: You are actually ignorant of what you speak of. If foreign reserves are to meet import liabilities then they are as well designed to stabilize the value of the naira vis-a-vis the dollar. This is so because if there is a surge in the demand for imports without a corresponding supply of foreign exchange excess demand for foreign exchange will result and this will worsen the value of the naira to the dollar and send us back to the periods of surging consumer price indices! So by having enough foreign exchange to meet import liabilities price stability and hence currency stability is achieved! 11 Likes 2 Shares |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by martineverest(m): 7:49pm On Apr 09, 2018 |
AZeD1:u dull sha... see as u fool urself 4 public 6 Likes 3 Shares |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Nobody: 7:50pm On Apr 09, 2018 |
If I remember correctly, during GEJ regime, we had zero foreign reserves. Actually, we were in deficit by then. Thunder faya anybody that wants PDP to return. 8 Likes 1 Share |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Positiveminds(m): 7:50pm On Apr 09, 2018 |
Let me explain this in simple terms. Amassing Foreign Reserve in a time of hyper inflation is bad economics. People will continue to suffer because they country isn't producing anything. Good financial management is to invest capital projects to produce more. That will arrest the problem of inflation as the Nigeria begins to stabilize against other currencies. With the present state of the economy, the naira will remain worthless, relative to other currencies. Soon,a loaf of bread would sell for N500.00, if they don't invest in infrastructure, boost production , heaping up foreign reserves will remain bad decision. 9 Likes 1 Share |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Adesolomon2014(m): 7:51pm On Apr 09, 2018 |
abduljabbar4: Broda yi ti high! eni re lo! Emo wolu! |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Positiveminds(m): 7:52pm On Apr 09, 2018 |
Let me explain this in simple terms. Amassing Foreign Reserve in a time of hyper inflation is bad economics. People will continue to suffer because the country isn't producing anything. Good financial management is to invest capital projects to produce more. That will arrest the problem of inflation as the Nigeria begins to stabilize against other currencies. With the present state of the economy, the naira will remain worthless, relative to other currencies. Soon,a loaf of bread would sell for N500.00, if they don't invest in infrastructure, boost production , heaping up foreign reserves will remain bad decision. 3 Likes |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by efficiencie(m): 7:53pm On Apr 09, 2018 |
Kingspin: Well the reserves are not good for nothing...the rise in the price level that crippled economic activities in Nigeria for almost two years was occasioned by the scarcity of foreign reserves. Nigeria is still import dependent and if those reserves deplete below the threshold import cover prices will rise again. I am sure you can still remember how you go to the market to buy biscuit at a much higher price only to be told that "dollar don increase"! So you have to thank God that our reserves are back and growing! 2 Likes |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by DonVikings: 7:56pm On Apr 09, 2018 |
This is the kind of news that make Emma Pigtiful and his piggy ipob shrills grunt in pain and anger. 10 Likes 1 Share
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Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Afamed: 7:56pm On Apr 09, 2018 |
Ugosample:There is big deal here my brother. The same crude oil was above 100 dollar during the last administration but the foreign reserve never grew beyond 23billon dollar. Now the crude is 56/55 dollar per barrel and we are having 47billion dollar in the reserve. The conclusion is for you to know why stealing is not corruption under the last administration. 11 Likes 3 Shares |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by DonVikings: 7:57pm On Apr 09, 2018 |
TheCabal:Just kill the poor yoot. 5 Likes 1 Share
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Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by maasoap(m): 7:58pm On Apr 09, 2018 |
CodeTemplar: And it is also funny that people who accuse Aregbe for infrastructural development and huge debts at the state level are also the ones saying savings without infrastructure at the Federal level is not cool. Lol. 3 Likes 2 Shares |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by olujastro: 8:00pm On Apr 09, 2018 |
Positiveminds: Firstly, Nigeria is experiencing deflation, not hyperinflation. Inflation has been going down since last year from about 19%. Secondly, all the borrowing of this government has been going to infrastructure while much of the foreign earnings from oil have been adding to our increasing foreign reserves. Lastly, this is the highest capital investment I've witnessed in Nigeria since 1999. You should check out tons of projects being built by the ministries of Power, works and housing as well as Transport. Check @FMPWH on twitter for a start. 8 Likes 3 Shares |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by neoclassical: 8:01pm On Apr 09, 2018 |
guterMann:I like sound Economists like you. All the people hailing baba lack knowledge of elementary macro and monetary economics. Tell the sai baba chanters to withdraw money from the external reserves, if they think external reserves is like their savings account in First Bank. 4 Likes |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Blessed200016: 8:02pm On Apr 09, 2018 |
Mkk dem distribute am to every Nigerians one after the other 1 Like |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Minjim: 8:03pm On Apr 09, 2018 |
I guess we should share it round then. 1 Like |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by michoim(m): 8:03pm On Apr 09, 2018 |
Good governance. Long live PMB!Longlive APC!Longlive FRN! 4 Likes 2 Shares |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Nobody: 8:05pm On Apr 09, 2018 |
AZeD1: I feel sorry for your benefactors. 5 Likes 1 Share |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Ugosample(m): 8:05pm On Apr 09, 2018 |
Afamed: Stop lying The foreign reserves was about 46b plus under GEJ at some point, but began to decline as the oil price was falling. it fell to its lowest point under Buhari (between 23-27b not sure of the exact figure) And began to rise again. there was NEVER a time in GEJ govt that the reserves was 23b 5 Likes |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by CodeTemplar: 8:05pm On Apr 09, 2018 |
maasoap:If the infrastructure can help repay the debt, fine. What the point paying 13 month salary with oil windfall and debt the holding back regular salary 3 years later when oil income dwindled? It shows somebody was using Abuja money to impress like a beer parlour rascal. 2 Likes |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Ken55ng: 8:06pm On Apr 09, 2018 |
Federal government will go and borrow money from China and world bank, and the will redeposit the money in our foreign reserves, the will come be boasting that our foreign reserve has increased, well keep decerving ur self, how much are we owing as a country. 3 Likes |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Ugosample(m): 8:06pm On Apr 09, 2018 |
neoclassical: guterMann hit the nail on the head accurately. 2 Likes |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by AZeD1(m): 8:06pm On Apr 09, 2018 |
efficiencie:Nigeria runs an artificial market and an import depended economy. I have been fortunate to live in 2 developed countries and its only Nigeria foreign reserves is news to the common. If Nigeria as a country increased its non oil exports, Foreign reserves would have nothing to do with the stability of the Naira. The only reason why its matters in Nigeria is because the government spends money defending Naira. 5 Likes 1 Share |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Afamed: 8:06pm On Apr 09, 2018 |
AZeD1:Tomorrow you go dey follow shout say Buhari no go school. Leader of tomorrow indeed. 6 Likes 1 Share |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Ugosample(m): 8:07pm On Apr 09, 2018 |
olujastro: Did you say Nigeria is experiencing deflation My God! What!!!!! Na wa o 3 Likes |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by Ugosample(m): 8:09pm On Apr 09, 2018 |
AZeD1: Exactly! 3 Likes |
Re: Nigeria’s Foreign Reserves Hit $47 Billion - Surpass That Of South Africa by $4b by AZeD1(m): 8:16pm On Apr 09, 2018 |
CodeTemplar:Even you admit that this a short term strategy. 2 Likes |
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