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Nairaland Forum / Nairaland / General / Business / Naira Weakens At Forex Market As Foreign Reserves Drop To $43b (13865 Views)
Naira Depreciates By N64 Against Dollar At FOREX Market / Naira Continues Appreciation Against USD At Forex Market / Naira Weakens At Official Market, Banks Sell $584m (2) (3) (4)
Re: Naira Weakens At Forex Market As Foreign Reserves Drop To $43b by Moukandjo: 9:30am On Oct 14, 2018 |
jonuel1:Tell us! We're listening! |
Re: Naira Weakens At Forex Market As Foreign Reserves Drop To $43b by Butterflyleo: 9:39am On Oct 14, 2018 |
tegrianonigltd: You are the ignorant one here. How can you say we were not owing debt yet NNPC was heavily indebted and contracts awarded were not funded. Where then would monies have cine from to finance several hundreds of abandoned projects from the years if PDP? It was PMB that cleared all NNPC debts he net which has never happened for the past 20 years. Now NNPC is debt ftee yet some will still ask what he has done as Petroleum minister. It is still this same FG that is funding those abandoned PDP initiated projects. You are obviously still part of the indomie generation |
Re: Naira Weakens At Forex Market As Foreign Reserves Drop To $43b by Butterflyleo: 9:50am On Oct 14, 2018 |
thariodamaniac: Recession did not start with PMB. It actually began with GEJ. We were living in a false economy under GEJ which was why the massive drops in oil prices when PMB just came in exposed our false economy as we recessed very fast. The sign that we were already recessed under GEJ was when he began to borrow to pay salaries and not to service infrastructure. PDP is a cancer
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Re: Naira Weakens At Forex Market As Foreign Reserves Drop To $43b by tegrianonigltd(m): 10:28am On Oct 14, 2018 |
Butterflyleo: There is nothing like abandoned, when a new government come in, it is continuity of the left projects, you can’t build a nation as large as Nigeria under 5 years of Jonathan. As for Indonie generation, I know what more than you don’t know.was it not same pdp that cleared all our debts, you forgot that? Iweala?? Her negotiations Weren’t you happy then... their business policies.. business men and women were striving. More jobs.. n
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Re: Naira Weakens At Forex Market As Foreign Reserves Drop To $43b by tegrianonigltd(m): 10:35am On Oct 14, 2018 |
Butterflyleo: False economy you say, where businesses were ok, as Buhari enter dollar rose to 500, instantly Buhari instantly bring out the best in recession lol, read the Ngozi words, that amaechi took Jonathan to court and he won and they had to share the money, what should he do with hooligans like amaechi who do not want the nation to progress, but fine he is in APC so he is a saint. 1 Like |
Re: Naira Weakens At Forex Market As Foreign Reserves Drop To $43b by Butterflyleo: 10:36am On Oct 14, 2018 |
tegrianonigltd: During the time of GEJ in office, 8m lost their jobs (fact) so what businesses were flourishing and where were the jobs? If there were jobs, why was the labour market suffering and going on strike like every 4 months under GEJ? Debt relief we got was because they knew we had no hope of paying especially since we were wasting the loans on liabilities and not investments under GEJ. Okonjo iweala wasn't stupid. She leveraged off that which was why she kept on trying to get GEJ to save but he wouldn't listen. Once our foreign reserves dropped which was our line of credit, then that was a clear indicator that we could no longer service our loans. |
Re: Naira Weakens At Forex Market As Foreign Reserves Drop To $43b by Butterflyleo: 10:39am On Oct 14, 2018 |
tegrianonigltd: What part of we were already recessed before Buhari came in did you not understand? Even Okonjo said Jonathan brought this recession on us and you still wish to blame Buhari? A dollar dependant economy would experience a rise in exchange rate as the demand was more than what was available (this is simple economics) Amaechi and other governors took the FG to court over THE SOVEREIGN ACCOUNT and not our foreign reserves. They noticed that the FG was looting it so decided to rather have it shared to the States. That's what happened.
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Re: Naira Weakens At Forex Market As Foreign Reserves Drop To $43b by Ugosample(m): 10:48am On Oct 14, 2018 |
franchasng: exactly you got it right Nigeria is not as productive as it should be |
Re: Naira Weakens At Forex Market As Foreign Reserves Drop To $43b by tegrianonigltd(m): 10:55am On Oct 14, 2018 |
Butterflyleo: And the blame continue... Jonathan this Jonathan that, You don’t know a thing about LEADERSHIP, have you run or own an organization, then Young would know a leader would never blame but work, everything Jonatha, all the problem of 1960 till date Jonathan, who is Buhari?, was he not the one who trumpled on our democracy 1983 When we were on the right part again, didn’t he work with Abacha and Obasanjo.. he is a failed man right from time, FELA SAID IT ANIMAL IN HUMAN SKIN, he have no economic importance to even Daura alone.. only cow, damn Nigeria with brains choosing dull man to lead, I weep for you yourself.. your children will not forgive you if you vote Buhari again.. z 1 Like 1 Share |
Re: Naira Weakens At Forex Market As Foreign Reserves Drop To $43b by Dokore: 11:48am On Oct 14, 2018 |
If you do not understand Economics please don't claim what you not know. With our debt at 73 million USD. We spend virtually 70 percent of our budget on debt financing. The multiplier effect is that we do not have foreign reserve if you take into account the amount that will be paid at the end of the years. Debts has strict conditions with rising interest rates. This administration has not handled the economy well. The borrowing is alarming considering the so called huge remittances and money recovered from looting. |
Re: Naira Weakens At Forex Market As Foreign Reserves Drop To $43b by Dokore: 11:54am On Oct 14, 2018 |
To those saying okonjo iweala said this and that please be informed
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Re: Naira Weakens At Forex Market As Foreign Reserves Drop To $43b by Dokore: 11:59am On Oct 14, 2018 |
Even this one is false please present facts not propaganda
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Re: Naira Weakens At Forex Market As Foreign Reserves Drop To $43b by Mustack: 1:15pm On Oct 14, 2018 |
Moukandjo:We're you sleeping when he use it to campaign. |
Re: Naira Weakens At Forex Market As Foreign Reserves Drop To $43b by Moukandjo: 1:37pm On Oct 14, 2018 |
Mustack:Evidence, please!!! Na so you Jonathan sycophants go dey lie anyhow! |
Re: Naira Weakens At Forex Market As Foreign Reserves Drop To $43b by Mustack: 1:50pm On Oct 14, 2018 |
Moukandjo:Your ear is your evidence so stop acting dumb... |
Re: Naira Weakens At Forex Market As Foreign Reserves Drop To $43b by Nobody: 2:00pm On Oct 14, 2018 |
elujah1:That is our Nigerian dream |
Re: Naira Weakens At Forex Market As Foreign Reserves Drop To $43b by Nobody: 3:43pm On Oct 14, 2018 |
Butterflyleo:. you dont seem to get it do you? For the first time the nations gdp fell below its population meaning that one dollar in nigeria is shared by two citizens or even more..... Buhari had 4yrs to correct the mistake or at least lets see something is done... He started well but crashed later and didnt say anything to address the issue... He even went far to insult nigerian youths... He couldnt find better ways than to borrow so much yet salaries arent still being paid... Local government workers have been told to hell... Federal salaries have even been delayed.... Internationally we are losing respect.... Nigerians are now a laughing stock to small african countries.... His battle with corruption is ongoing right but yet we are suffering.... Minimum salary is 18k thats like a little above $50.... You may not like PDP, i dont care if you support APC but at least lets say the truth.... The citizens are suffering more... Except those paid in dollars... Your problem is with PDP is what you use as an excuse for buhari's failure...it shouldnt be so.. |
Re: Naira Weakens At Forex Market As Foreign Reserves Drop To $43b by Ugosample(m): 4:07pm On Oct 14, 2018 |
thariodamaniac: exactly people are suffering much more now under this useless gov't useless policies led Nigeria to the abyss in the first place 2 Likes |
Re: Naira Weakens At Forex Market As Foreign Reserves Drop To $43b by tegrianonigltd(m): 6:27pm On Oct 14, 2018 |
Butterflyleo:
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After $1bn Drop, Nigeria May Suffer Further Decline In FX Inflows – PWC / Nigeria Emerges World’s 4th Largest Cashew Producer, Earned N284billion / How Were You Able To Raise Up The Desired Capital To Set Up Your Business?
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