rvp20182:
Nigeria economy - down and out in the first month of Oil and COVID-19

15% currency devaluation - meaning -15% nominal GDP drop - from 306 to 360 - although fair value is 410.
And retail customers cannot buy dollars
https://www.reuters.com/article/health-coronavirus-nigeria-currency/update-1-nigeria-suspends-foreign-exchange-sales-to-retail-currency-traders-idUSL8N2BJ8OLv-

How much do you have in your forex reserve again ?

Less than $800m ...
Your major source of foreign exchange earning has been frozen...

The decline comes on reduced inflows of export earnings due a freeze on imports of fruits and vegetables to China, reduced orders for flowers from consumers in Europe and the Middle East.


https://www.google.com/amp/s/www.businessdailyafrica.com/markets/capital/Forex-reserves-drop-to-Sh836-billion/4259442-5512256-view-asAMP-rx7m8uz/index.html

Oops!

JaceBlaze:


Haven't watched The Simpsons in a minute.I'll check it out when it comes.

The Simpsons is no longer on Fox, "our Fox" anyway. Apparently it's an old episode from years ago. That show has this eerie ability of predicting future events. They've predicted 9-11, Trump's presidency & a myriad of other things. I'm beginning to believe in the illuminati theory

Just30:
Lockdown is peaceful

As usual, people ain't taking it seriously

Stay safe.

Ricchcream:
lol. I dey gbadun your slights. Saudi Arabia is not doing well at all. Inspite of COVID-19, and its concomitant effect on demand, the mofos are refusing to reduce production and even went ahead to cut price, just because everybody's grandfather, Russia, refused to do the same. Or, maybe they are just so broke and desperately need money, and are just using Russia as an excuse...

When I sha begin dey reason where all these might eventually lead us, if no compromise is reached asap, I dey see economic depression oh

Is it that OPEC is a toothless bulldog?
Both Saudi and Russia are mad. They can't balance their budgets if oil remains around $30 or less. I guess they didn't factor in the coronavirus pandemic when they started their foolish oil war. With the way things are going, nobody will tell them before they reach a compromise.

BadBradley:
A black south African is a disgrace to the entire black race and a huge disappointment to Mandela's struggle.

Look at you, a freebie apathied Zulu, you can't even write comprehensively to look apartheid-worthy, lost soul.

Yawn.....Thanks God I'm a black south African..it could have been worse

Problemkid1:
that's how most Kenya men looks like. Big forehead and big big teeths

Because he's drunkard and a failure.

Is that how the Kenyans on this thread look?
I hope not.

rvp20182:
Nairobi is nibbling at Joburg - not any of the slumpolis of west Africa.

I agree with you 100%,while noise makers cant post any on going development in their country,Kenya has many.

BadBradley:
A black south African is a disgrace to the entire black race and a huge disappointment to Mandela's struggle.

Look at you, a freebie apathied Zulu, you can't even write comprehensively to look apartheid-worthy, lost soul.

Kai! This is heavy.

samorobo:


More noise, talk is cheap..
Nairoslum is scrap ..tell sonko I said so bitter soul..

You've proved how famous Nairobi is,here no one knows even a single Gvnr in your country.

leo552:

I agree with you 100%,while noise makers cant post any on going development in their country,Kenya has many.

This guy just comes once in 4 months to pour out all his pain in one post then disappears for the next 8 years.

No hard feelings though. All love.

Danielnino00:


How much do you have in your forex reserve again ?

Less than $800m ...
Your major source of foreign exchange earning has been frozen...

The decline comes on reduced inflows of export earnings due a freeze on imports of fruits and vegetables to China, reduced orders for flowers from consumers in Europe and the Middle East.


https://www.google.com/amp/s/www.businessdailyafrica.com/markets/capital/Forex-reserves-drop-to-Sh836-billion/4259442-5512256-view-asAMP-rx7m8uz/index.html

We got a lot of "Harvard" grade economists on this thread.

Just40:
Nairobi is an underdeveloped poor neighborhood

How will it match Lagos and let alone Abuja ?

You just wish Nairobi would have been your Capital........

Carmit:

This guy just comes once in 4 months to pour out all his pain in one post then disappears for the next 8 years.

No hard feelings though. All love.

Carmit,just been busy but again if the thread is full of hog wash........better stay aloof.

Let me teach your economics 101. Our source of forex is diversified. The demand for forex diversified. So if flowers don't get sold for 1yr - we are talking 1B dollars - out. That flower sector alone also requires forex.

Now Nigeria. Oil is the main source of forex and gov revenues. If oil drops to 10 dollars..your forex will evaporate into the THIN AIR...and entire economy will come crushing in months if not days.

Get the difference btw diversified economy and resource dependant economy.

It's like Nigeria has a one-grade cow and Kenya has many chickens,ducks and fowls.

When your only grade cow get sick - the owner also get sick - but the guy with some many fowls - will not lose sleep over one or two chicken.

God help you if the cow DIES.

Bottom line: Don't rush to buy or depend on a cow - like the rich or developed neigbour - diversify into chicken, rabbits, rodents (if you're ghanian), ducks, sheep, goats -- before you spend the last dime on a grade cow.

As you become rich - buy many calves - learn about cow business - and eventually you'll have many grade cows - in addition to chicken, ducks, turkey,etcs.

Danielnino00:


How much do you have in your forex reserve again ?

Less than $800m ...
Your major source of foreign exchange earning has been frozen...

The decline comes on reduced inflows of export earnings due a freeze on imports of fruits and vegetables to China, reduced orders for flowers from consumers in Europe and the Middle East.


https://www.google.com/amp/s/www.businessdailyafrica.com/markets/capital/Forex-reserves-drop-to-Sh836-billion/4259442-5512256-view-asAMP-rx7m8uz/index.html

Their president vision for Ghana 2050.

leo552:

You just wish Nairobi would have been your Capital........

Problemkid1:

Oil consumers are enjoying the madness. Our economy would have been hit - but oil at that price - is like a savings of nearly 1B dollars - nearly enough to gather for loses in horticulture and tourism sectors.

Russia are crashing US oil companies - obviously, Saudis are just incredibly blessed - so the real war is probably directed elsewhere.

obaaderemi:
Is it that OPEC is a toothless bulldog?
Both Saudi and Russia are mad. They can't balance their budgets if oil remains around $30 or less. I guess they didn't factor in the coronavirus pandemic when they started their foolish oil war. With the way things are going, nobody will tell them before they reach a compromise.

rvp20182:
I can see Oil-producing minnows trying to console themselves but remember this

"Saudi Arabia can pump a barrel of oil from certain fields for as low as a $1."
https://www.middleeasteye.net/news/oil-prices-how-saudi-arabia-gambit-russia-could-backfire-vision-2030

Saudi Arabia will go broke when it does that

Currently, they are bleeding money badly and that is why they are so desperate

IronGalaxy:
Yawn.....Thanks God I'm a black south African..it could have been worse

Trust me son, nothing could be worse than an apartheid freeloader, nothing. Black South Africans bring back to life, long forgotten black stereotypical myths. Shame.

Saudi Arabia is a lake of Oil. Continue dreaming. If not for US cajoling and pleading - they can crash everyone. Gawar oil field alone has 70B proven oil reserves. And if Oil is going to go out - don't think Saudis will wait for you to break even - they will flood the market with it.

Just30:
Saudi Arabia will go broke when it does that

Currently, they are bleeding money badly and that is why they are so desperate

Danielnino00:


How much do you have in your forex reserve again ?

Less than $800m ...
Your major source of foreign exchange earning has been frozen...

The decline comes on reduced inflows of export earnings due a freeze on imports of fruits and vegetables to China, reduced orders for flowers from consumers in Europe and the Middle East.


https://www.google.com/amp/s/www.businessdailyafrica.com/markets/capital/Forex-reserves-drop-to-Sh836-billion/4259442-5512256-view-asAMP-rx7m8uz/index.html

XhosaNostra:


Stay safe.

Same to you
Dear

BadBradley:
Trust me son, nothing could be worse than an apartheid freeloader, nothing. Black South Africans bring back to life, long forgotten black stereotypical myths. Shame.

Lol, you are at pains trying to change the way I feel about myself? I'm a proud black South African deal with it ape

leo552:

You just wish Nairobi would have been your Capital........

SORRY

we don't wish for more slums
We have already successfully demolished most of out slums .

rvp20182:
Let me teach your economics 101. Our source of forex is diversified. The demand for forex diversified. So if flowers don't get sold for 1yr - we are talking 1B dollars - out. That flower sector alone also requires forex.

Now Nigeria. Oil is the main source of forex and gov revenues. If oil drops to 10 dollars..your forex will evaporate into the THIN AIR...and entire economy will come crushing in months if not days.

Get the difference btw diversified economy and resource dependant economy.

It's like Nigeria has a one-grade cow and Kenya has many chickens,ducks and fowls.

When your only grade cow get sick - the owner also get sick - but the guy with some many fowls - will not lose sleep over one or two chicken.

God help you if the cow DIES.

Bottom line: Don't rush to buy or depend on a cow - like the rich or developed neigbour - diversify into chicken, rabbits, rodents (if you're ghanian), ducks, sheep, goats -- before you spend the last dime on a grade cow.

As you become rich - buy many calves - learn about cow business - and eventually you'll have many grade cows - in addition to chicken, ducks, turkey,etcs.

another insignificant idiot living in the deepest, steepest fool's paradise.

Try calculating the entire data worth of this website and realise it is bigger than Kenya's economy.

Your country is not in the global maps and it's completely insignificant with a laughable GDP.

What's the total GDP of your "diversified" economy again? Mumu

Wealth is not equal to GDP. GDP is more company revenues. At least 50 global companies have revenues higher than Kenya's GDP.

Danielnino00:
Oops!

So Kenya is not selling cows and other wildlife for forex?


that is the definition of being broke in just one month

rvp20182:
Let me teach your economics 101. Our source of forex is diversified. The demand for forex diversified. So if flowers don't get sold for 1yr - we are talking 1B dollars - out. That flower sector alone also requires forex.

Now Nigeria. Oil is the main source of forex and gov revenues. If oil drops to 10 dollars..your forex will evaporate into the THIN AIR...and entire economy will come crushing in months if not days.

Get the difference btw diversified economy and resource dependant economy.

It's like Nigeria has a one-grade cow and Kenya has many chickens,ducks and fowls.

When your only grade cow get sick - the owner also get sick - but the guy with some many fowls - will not lose sleep over one or two chicken.

God help you if the cow DIES.

Bottom line: Don't rush to buy or depend on a cow - like the rich or developed neigbour - diversify into chicken, rabbits, rodents (if you're ghanian), ducks, sheep, goats -- before you spend the last dime on a grade cow.

As you become rich - buy many calves - learn about cow business - and eventually you'll have many grade cows - in addition to chicken, ducks, turkey,etcs.

rvp20182:
Their president vision for Ghana 2050.

Ghana vision 205 is too big for your dreams

Start from page 1 - please.

BadBradley:
another insignificant idiot leaving in deepest, steepest fools paradise.

Try calculating the entire data worth of this website and realise it is bigger than Kenya's economy.

Your country is not in the global maps and it's completely insignificant with a laughable GDP.

What's the total GDP of your diversified economy again? Mumu

Here we go again.

Just30:
Ghana vision 205 is too big for your dreams

rvp20182:
Nigeria economy - down and out in the first month of Oil and COVID-19

15% currency devaluation - meaning -15% nominal GDP drop - from 306 to 360 - although fair value is 410.
And retail customers cannot buy dollars
https://www.reuters.com/article/health-coronavirus-nigeria-currency/update-1-nigeria-suspends-foreign-exchange-sales-to-retail-currency-traders-idUSL8N2BJ8OLv-

mad man !!! No article found, they also apologised on your behalf for posting fake news.