kaorama:
You know nothing. Before you expose it ignorance, what is the trade ratio between China and Nigeria?

kaorama:
You know nothing. Before you expose it ignorance, what is the trade ratio between China and Nigeria?

wakaman:


Tell us what you know! Trade ratio KO trade ration Ni, gala seller forming international tradesman, come on bring 2 fan Yogo and 2 gala with change from 1000 naira.

seunmsg:
Sadly, the people that will benefit the most from this currency swap agreement are importers from the south east. The same region that sees nothing good in the president.

Overall, I am very optimistic about the agreement's potential to reduce demand for dollar and hence help strengthen the value of our naira. A stronger naira at this point in time will bring down the high prices of basic essential commodities.

On the other side however, it will make importation from China cheaper and easier. This will further kill whatever is left of our manufacturing sector. We really need to figure out how to encourage Nigerians to consume more of made in Nigeria products. Making imports cheaper from China will continue to hurt our economy if we are not exporting anything significant apart from crude oil in return.

seunmsg:


Sadly, the people that will benefit the most from this currency swap agreement are importers from the south east. The same region that sees nothing good in the president.

Overall, I am very optimistic about the agreement's potential to reduce demand for dollar and hence help strengthen the value of our naira. A stronger naira at this point in time will bring down the high prices of basic essential commodities.

On the other side however, it will make importation from China cheaper and easier. This will further kill whatever is left of our manufacturing sector. We really need to figure out how to encourage Nigerians to consume more of made in Nigeria products. Making imports cheaper from China will continue to hurt our economy if we are not exporting anything significant apart from crude oil in return.

MrHowto:


Other African countries will patronize the Naira as it can be used for Yuan exchange.

seunmsg:
Sadly, the people that will benefit the most from this currency swap agreement are importers from the south east. The same region that sees nothing good in the president.

Overall, I am very optimistic about the agreement's potential to reduce demand for dollar and hence help strengthen the value of our naira. A stronger naira at this point in time will bring down the high prices of basic essential commodities.

On the other side however, it will make importation from China cheaper and easier. This will further kill whatever is left of our manufacturing sector. We really need to figure out how to encourage Nigerians to consume more of made in Nigeria products. Making imports cheaper from China will continue to hurt our economy if we are not exporting anything significant apart from crude oil in return.

seunmsg:
Sadly, the people that will benefit the most from this currency swap agreement are importers from the south east. The same region that sees nothing good in the president.

Overall, I am very optimistic about the agreement's potential to reduce demand for dollar and hence help strengthen the value of our naira. A stronger naira at this point in time will bring down the high prices of basic essential commodities.

On the other side however, it will make importation from China cheaper and easier. This will further kill whatever is left of our manufacturing sector. We really need to figure out how to encourage Nigerians to consume more of made in Nigeria products. Making imports cheaper from China will continue to hurt our economy if we are not exporting anything significant apart from crude oil in return.

janetdaniels201:
THE MASTERSTROKE CALLED CHINESE CURRENCY SWAP DEAL

President Buhari doesn't have certificate but he sure knows how to make things happen and do what some heroes with unproven Ph.D. can't even dream of...

1.As President Buhari and CBN Governor, Emefiele moved closer to actualizing their promise to strengthen the naira against the US dollars

2.By signing a landmark currency deal with the Industrial and Commercial Bank of China Ltd on Tuesday in Beijing, China.

3. The agreement will allow Nigerian who imports mainly from China conclude their transactions in the Chinese currency instead of the dollar

4. The new agreement would see Nigeria-China trades, which accounts for over 70 percent of imports into Nigeria, concluded in the Yuan.

5. Until now over 90% of int'l trades between Nigeria & the world is done in dollars, & in the process putting so much pressure on the naira

6. Nigeria imports almost all it needs from the West, Middle East and Asia.

7. The CBN is expected to diversify a huge chunk of Nigeria’s foreign reserve from the dollars to the Yuan to perfect the agreement.

8. “It means that the renminbi (Yuan) is free to flow among diff banks in Nigeria, & the renminbi has been included in the FXR of Nigeria,”

9. FXR means foreign exchange reserves

10. Lin Songtian, director general of the African affairs department of China’s foreign ministry, told reporters in Beijing ...

11. .. a few minutes after the agreement was signed between the Governors of the nations’ reserve banks..

12. in the presence of President Buhari & President Xi Jingping of China, who is hosting Buhari and top Nigerian officials to a state visit.

13. Lin said a framework on currency swaps has been agreed with Nigeria, making it easier to settle trade deals in Yuan.

14. China has signed currency swap deals with countries ranging from Kazakhstan to Argentina as it promotes wider use of its Yuan.

15. Nigeria would become the clearinghouse for Yuan denominated transactions for the whole of Africa following the agreement.

16. Beijing also signed agreements to develop infrastructure in Nigeria, part of a drive to deepen its ties with Africa.

17. It has offered Nigeria a loan worth $6 billion to fund infrastructure projects.

18. Also, ICBC signed a $2 billion loan deal with Dangote group, to fund two cement plants it plans to build, Lin told Reuters.

19. China’s official Xinhua news agency cited President Xi as telling Buhari that there was huge potential for economic cooperation, naming

20. Naming oil, refining and mining..

21. Nigeria is also considering issuing Panda bonds (mainly Yuan denominated) as against euro bonds because they are cheaper.

This is good, better days are ahead, I'm sooo happy and hopeful right now. Nigeria shall be great again!

Dafila Rotimi