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Nairaland Forum / Nairaland / General / Politics / Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan (23949 Views)
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Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by georgeakins: 9:39am On Aug 22, 2023 |
mrvitalis: Obi has no case . He and his Ibo brothers are only deceiving themselves. Peter Obi can never be president |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by seunayantokun(m): 9:41am On Aug 22, 2023 |
I think Buhari, Emefiele, Malami and that Kyari of NNPC did the fraud. Stealing and lying to Nigerians. But Tinubu's hands are not clean because he gave the previous administration all kinds of ungodly support. 1 Like |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by grandstar(m): 9:50am On Aug 22, 2023 |
Kukutente23: Read articles below https://www.premiumtimesng.com/news/top-news/613252-updated-subsidy-removal-nigerian-govt-to-share-3000-buses-saves-n1-trillion-in-two-months-tinubu.html https://punchng.com/subsidy-removal-fg-saves-n400bn-in-four-weeks/ https://www.reuters.com/world/africa/nigeria-saved-132-bln-two-months-after-fuel-subsidy-removal-tinubu-2023-07-31/ https://dailypost.ng/2023/06/30/fuel-subsidy-removal-fg-saves-n400bn-in-four-weeks-operators/ The closest to the $1b a month savings is the Bloomberg article below but it adds the currency devaluation played a vital role. Devaluing the currency from 470 or so to around 750 officially today also increased governments revenue. So, 2 things were at play. I am trying to be as fair as possible- looking at articles that support your statement even if goes against mine. So, fuel subsidy removal never saved $1bn in a month. 4 Likes |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by ebufa: 9:58am On Aug 22, 2023 |
Tareq1105: See dis one...........No worry Tinubu assured you all that he will continue from where Buhari chop remain! |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Ireportlive: 9:59am On Aug 22, 2023 |
Can you now understand why Tinubu insist Emefiele goes to jail |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Cmeo(m): 10:00am On Aug 22, 2023 |
I laugh at most people calling out President Tinubu and not Emeliefe cum Buhari on this outburst by JP Morgan. Those with sense knows that the recent time different outburst had President Tinubu underhand, this including the release of CBN Annual Reports, etc. I believe more is to come. Pres. Tinubu is stylishly making people to know the rot he met without those words coming out from him or his office. |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by AreaFada2: 10:00am On Aug 22, 2023 |
EyeCumInPiss:But you do know the impact of low foreign reserve on the credibility of third world country govt and ability to service their debts? Impact on the currency of a country that has a very narrow stream of forex like 9ja that depends over 90% on oil export? The key function of CBN to manage foreign reserve? That foreign reserve is an asset while local currency is a liability because govt can print it without actually earning it and bad for inflation/currency? Importance in times of crisis/upheaval to still meet obligations to creditors abroad? All these affect the value of the currency in your pocket, especially when freely floated. A volatile currency can't allow citizens have a good quality of life. |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by 2pacarnate(m): 10:02am On Aug 22, 2023 |
Kukutente23: Truth hurts Noted bro,I know there are good yorubas.but are you a Yoruba? If yes did I lie,if no have you lived in Yoruba land?Lagos excluded. Yorubas majorly hadly accept there wrongs,for example,the ones that voted tinubu now they wilk tell you " you voted your brother,I voted mine,,so no problem" 🤷 that is typical Yoruba Anyways TRUTH HURTS |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by ebufa: 10:02am On Aug 22, 2023 |
josielewa: Na 500 billion naira you go give jp Morgan? Better start looking for dollar equivalent! It's gonna take a miser and cost cutter to even begin to stabilize down situation. Obi is that kind of person! |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Nobody: 10:09am On Aug 22, 2023 |
Toh! Abi, is Toh not enough ni?
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Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Brushstrokes20: 10:11am On Aug 22, 2023 |
👀The lifeless thief and his gang of bold Faced THIEVES really wrecked Nig beyond redemption!... # aLOOTING continua # from the fry pan to fire 🔥 |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by tinsel: 10:12am On Aug 22, 2023 |
Taylor90:This has nothing to do with Tinubu but Buhari. |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by ariesbull: 10:13am On Aug 22, 2023 |
MTNnews:one mugu has quotes me At least they have least poverty ,literacy and indebtedness |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Kaiser20: 10:13am On Aug 22, 2023 |
EyeCumInPiss:The common man sef no see food.... Fuel, no better life in today's lying propaganda Apc |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by MrB0LD(m): 10:15am On Aug 22, 2023 |
NOwazobia: Seriously, this government should have a Ministry of Corruption and Other Related Matters plus a Ministry of Lying Affairs...[color=#006600][/color] 1 Like |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Chetas81(m): 10:16am On Aug 22, 2023 |
Asgard73:the truth the Nigerian citizen know shall set the citizen free or not! 1 Like |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Kukutente23: 10:20am On Aug 22, 2023 |
2pacarnate:Igbos that voted him are not accepting either. There's an Igbo on this forum who supported Buhari and is still supporting Tinubu. If you can't look beyond tribal lens, then you're no better than those you're castigating. People make their choices based on what they feel is important to them |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Chetas81(m): 10:20am On Aug 22, 2023 |
Brushstrokes20:who's fault |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by onuman: 10:26am On Aug 22, 2023 |
All over the world, Central Bank of a country is the last resort for truth about the financial situation of a country. But Central Bank of Nigeria under APC/Tinubu publishes FALSE financial info about Nigeria. Dreadful. |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by onuman: 10:28am On Aug 22, 2023 |
Taylor90: If Nigeria's judiciary don't free Nigeria from this Tinubu, without further delay, the country must hit the rocks before long. |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by 2pacarnate(m): 10:31am On Aug 22, 2023 |
Kukutente23: Your last line made sense bro,my uncle is a top APC man in imo state,he was uzodinma right hand,he campaigned for buhari but we no send am,he did it to get Abuja link up which it seems he succeeded,in other words,it's hardcore igbo APC soldiers that voted buhari and tinubu but they are few,but in Yoruba land,it's not only party loyalist,many Yoruba voted tinubu because of tribe,religion,or Igbo hate Sorry to say this,many also voted obi,but to be candid,if osibanjo was on the ballot,maybe only 5 percent will vote obi,maybe.... Let me tell you something about igbo,we don't vote because one is our brother,rochas son in-law is my brother,,5 minutes walk to his house from mine,passes my gate whenever he is coming home,but we refused to vote for him and voted ihedioha not because he is a bad man,but just because we don't want rochas to be a Godfather like tinubu in imo state. That is igbos for you,I have never met ihedioha because he is from mbaise far from me,but I do.see rochas son in-law,drinking palm wine and ugba beside his house during xmas.but all we want is good governance not a puppet,you know.the truth bro,Just like we voted OBJ over ojukwu because we didn't want another war and wanted to repair obj for not annihilating us when he came with Russian bomber jets to ask us to surrender during the civil war,and that's why he made many igbos his cabinet and loves igbos so much. You sound like a reasonable Yoruba man,I appreciate you bro,but you know your people.truth be told.in this country,igbos and edos vote differently unlike others,I really admire good yorubas when I see them 👍 4 Likes 1 Share |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by JOemmy(m): 10:31am On Aug 22, 2023 |
Apc really finished nigeria they have completely looted this country to the ground. |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Elliotwaveforec: 10:32am On Aug 22, 2023 |
REDshouse:As a salary earner, which of the two is yours gangan? Gross or pay? Which one do you take home for spending? |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by baralatie(m): 10:40am On Aug 22, 2023 |
AmazingELixir: |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by ReubenE(m): 10:45am On Aug 22, 2023 |
REDshouse:You are right, judging from most comments. However, their complaints serve the same purpose as Nigeria having 3 billion dollars as net reserve is preposterous. What is really the gain in someone claiming his salary is 1 million naira when he is entitled to a payment of only 30 thousand naira at the end of the month. The reality is that our foreign reserves is seriously depleted whether the gross is $37 billion. Since the net is $3 billion, the $37 billion is what we have but do not have. |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by nony43(m): 10:45am On Aug 22, 2023 |
safarigirl: Exactly my thoughts. |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Kukutente23: 10:46am On Aug 22, 2023 |
2pacarnate:Your argument is totally flawed. Orji Uzor Kalu ruled Abia for 16 years at least. Was he good? Was any of his appointees good? Yorubas voted Goodluck too. And Yaradua. You seem to forget that in terms of margins, Obi got more votes from his region than any other candidate in the last election. Tinubu lost two states in SW. Atiku lost one state in NE. Kwankwaso lost six states in NW. Obi won ALL five states in SE. If we're looking at strictly tribal lens, that alone makes Igbo look bad. It's a seismic shift for Atiku to go from winning all SE states in 2019 to losing all. He couldn't even get 25% in any!! That said, you fail to realise how strong Tinubu's political network is especially in the SW. And with good reason too. He stood up to the tyranny of PDP in the SW in those days. With that, he won so many youths over. I know a lot of Yorubas and northerners who voted for him and are regretting that now. It doesn't mean you'll expect every Yoruba who voted him to have the same feeling especially with how divided our politics has become. Let truth be told, if Obi had won and was fumbling at this stage, with the toxic political atmosphere we have now, many Obidients from his region will double down their support for him and label anyone who doesn't do so haters. It's a product of the divisive politics birthed by APC especially in the Buhari years. The truth is with time, if Tinubu continues to fumble, support among Yoruba middle class will start to waver. But if Igbos make the mistake of making it about tribe, tinubu and his goons will capitalise on that to turn the conversation away from his performance or lack of it to tribal goading and we'll be back to square one |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by greatiyk4u(m): 10:47am On Aug 22, 2023 |
safarigirl: You are wise. |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Kobicove(m): 10:47am On Aug 22, 2023 |
livebyday: The level of educational qualification and career level I have attained I can assure you that the most literate person in your entire extended family does not have it!!! |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by MTNnews: 10:57am On Aug 22, 2023 |
The mugu here must be your foolish father. At least one region claiming the least poverty literacy n indebtedness ran to those not with the least poverty n more debt to survive does that not show you are raised by a foolish Igbo father. ariesbull: |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by Yankee101: 11:01am On Aug 22, 2023 |
Wait is this real? Dem don scam us Malami, Emefiele, NNPC Kyari jail jail jail Plus anyone else involved |
Re: Nigeria’s Foreign Reserve Is $3.7 Billion, Not $33.8 Billion - JP Morgan by ariesbull: 11:03am On Aug 22, 2023 |
MTNnews: Well you are badly trained cos I doubt if you have a father ...Na people like you dem born out of wedlock Good day |
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