NewStats: 3,264,419 , 8,183,680 topics. Date: Wednesday, 11 June 2025 at 02:01 AM 164a3s

By Dipo Olowookere

As at Thursday, December 14, 2017, a total of $36.9 billion was left in the foreign reserves of Nigeria, data from the Central Bank of Nigeria (CBN) reveals.

According to the apex bank, this amount grew by 0.4 percent from the previous day, Wednesday, December 13, 2017, when the reserves had $36.7 billion.

Nigeria’s foreign reserves have recorded a growth of 5.1 percent in from December 1 to December 14, 2017.

On December 1, 2017, the amount in the reserves was $35.1 billion.

Already, the external reserves of Africa’s largest economy have recorded 41.2 percent increase this year.

According to data obtained by Business Post on the website of the CBN, where details of the reserve management and movement are published, the country opened the year with $26.1 billion in the reserves.

The government had a target to increase the amount in its external reserves to $40 billion before the end of the year, but may not be met going by the rate the reserves have grown this year.

https://www.businesspost.ng/2017/12/17/nigerias-foreign-reserves-grow-36-9b/

Gradually, we are getting there. To think this is the same reserve that nosedived during the oil boom is very amusing. Chinko Japanese can make Atichukwu their only savior in their barren lands, but not Nigeria. **Spits on flat objects**

Some people who hate Buhari will avoid this thread

$36.9 billion - $1billion =...

This is one of the reason we must Buhari for 2019. The reserve is rising because of Buhari conservatism and focus on local alternative to imports.

If we bring in liberal PDP in the name of Atiku, the reserve will deplete very fast.

In every nation where moral values has gone into extinction, people of INTEGRITY like BUHARI are hated.



How can the same people who hail
Yahoo boys
Kidnappers
Baby factory dealers
Corrupt politicians
Slay queens
As the biggest boys in town love who stand for and celebrate MORAL SANITY?


Buhari was sent by God to save Nigeria from the impending disaster that awaited us......how can one who couldn't manage Nigeria with huge resources manage her in recession with appreciable increase of foreign reserve?


Happy birthday "Mai gaskiya daga Allah"

greatiyk4u:
In every nation where moral values has gone into extinction, people of INTEGRITY like BUHARI are hated.



How can the same people who hail
Yahoo boys
Kidnappers
Baby factory dealers
Corrupt politicians
Slay queens
As the biggest boys in town love who stand for and celebrate MORAL SANITY?


Buhari was sent by God to save Nigeria from the impending disaster that awaited us......how can one who couldn't manage Nigeria with huge resources manage her in recession with appreciable increase of foreign reserve?


Happy birthday "Mai gaskiya daga Allah"

python1:
Gradually, we are getting there. To think this is the same reserve that nosedived during the oil boom is very amusing. Chinko Japanese can make Atichukwu their only savior in their barren lands, but not Nigeria. **Spits on flat objects**

@bolded.
Gradually, you are getting to where?

This is an insane government.
Totally confused government.
Look, obasanjo saved over thirty billion dollars, where is the money today?
Yet nothing is functioning in the country.

The useless old man president should know that the economy is dead, hunger is killing people.

The confused overaged president should rather build the highly needed infrastructure, the countries that have their infrastructure working well was built by their leaders.

givan:
$36.9 billion - $1billion =...

Yes, the answer is $35.9b, but the question now is; why did this same reserve drop from $47b to close to $30b when the income was high as compared to same reserve on the increase now at averagely half of the previous income? What exactly was done with it? It should had increased to close to $100b considering the nation's income then, but even if it did not increase, why not maintain it at that value? Why dropping it again?

juman:


@bolded.
Gradually, you are getting to where?

This is an insane government.
Totally confused government.
Look, obasanjo saved over thirty billion dollars, where is the money today?
Yet nothing is functioning in the country.

The useless old man president should know that the economy is dead, hunger is killing people.

The confused overaged president should rather build the highly needed infrastructure, the countries that have their infrastructure working well was built by their leaders.

But the government that depleted the same reserve was a sane and focused government abi?

You don't sound sane yourself.

juman:


@bolded.
Gradually, you are getting to where?

This is an insane government.
Totally confused government.
Look, obasanjo saved over thirty billion dollars, where is the money today?
Yet nothing is functioning in the country.

The useless old man president should know that the economy is dead, hunger is killing people.

The confused overaged president should rather build the highly needed infrastructure, the countries that have their infrastructure working well was built by their leaders.

Obasanjo saved over thirty billion dollars, yet nothing is working, and you were told it is "the useless old president" that squandered it right? Pls, I'm begging, don't quote me again. Thank you for your understanding.

Is a lie.
How can idiotic pigs of Biafra believed this?

Bolustical:

But the government that depleted the same reserve was a sane and focused government abi?

You don't sound sane yourself.

I swear the thing just weak me. I no know whether to make comment na by force.

juman:


@bolded.
Gradually, you are getting to where?

This is an insane government.
Totally confused government.
Look, obasanjo saved over thirty billion dollars, where is the money today?
Yet nothing is functioning in the country.

The useless old man president should know that the economy is dead, hunger is killing people.

The confused overaged president should rather build the highly needed infrastructure, the countries that have their infrastructure working well was built by their leaders.

That thing wey u write there make sense?

juman:


Be deceiving yourself. APC e-rat.

They keep blaming jonathan forever.
Jonah had done his part, some bad some good.

nigerians voted the senseless APC people thinking they would make nigeria a better country, but instead they killed the economy.
Useless apc people.

Unfortunately, you just ignorantly brought Jonathan into it. Who squandered the money saved by Obasanjo? From the first quote, I knew it and that is why I had to beg that you stop quoting me. Again, pls stop quoting me.

juman:


Be deceiving yourself. APC e-rat.

They keep blaming jonathan forever.
Jonah had done his part, some bad some good.

nigerians voted the senseless APC people thinking they would make nigeria a better country, but instead they killed the economy.
Useless apc people.

kindly explain how APC killed the economy

Okoroawusa:

If they killed d economy u cannot afford common data to type this rubbish u typed here.
Python1 dont bother replying these guys.

Infact, I have replied him three times before I discovered his condition.

People who hate PMB will not be happy today.

What's the correlation between foreign reserves and development, if any?
You claim to have a stash of funds in reserves, yet you are embarking on mindless borrowing to fund infrastructure in tandem with unneeded FOREX subsidies; who's fooling who here?

juman:


@bolded.
Gradually, you are getting to where?

This is an insane government.
Totally confused government.
Look, obasanjo saved over thirty billion dollars, where is the money today?
Yet nothing is functioning in the country.

The useless old man president should know that the economy is dead, hunger is killing people.

The confused overaged president should rather build the highly needed infrastructure, the countries that have their infrastructure working well was built by their leaders.

is your brain functioning?

Your ineffectual buffoon depleted the reserve without a single infrastructure.
Buhari is building infrastructure and adding to the reserve,
That is a great feat.

Jesusloveyou:
is your brain functioning?

Your ineffectual buffoon depleted the reserve without a single infrastructure.
Buhari is building infrastructure and adding to the reserve,
That is a great feat.

@bolded
You must be high on something when you wrote it.

OnucheAdams:
What's the correlation between foreign reserves and development, if any?
You claim to have a stash of funds in reserves, yet you are embarking on mindless borrowing to fund infrastructure in tandem with unneeded FOREX subsidies; who's fooling who here?

but when the FG refused to give forex subsidies and the naira went to over 500naira per dollar you were wailing about government inaction? now the government is keeping the naira around 360 and you are still complaining. oga o

juman:


@bolded
You must be high on something when you wrote it.

roads and railway are what?

lalasticlala front page

The BMC crew is almost complete on this thread,just look at the way they are celebrating it......
They will say the govt is working and they are saving to give Nigerians a better life,I really love these set of sycophants.

Jesusloveyou:
roads and railway are what?

hehehehehe, roads? Infrastructure?

neva seen so many jobless young men and women on nairaland. creating and commenting on every thread shows u are unemployed. no employer or employee will tolerate or spend his work hours on nairaland. Even seun the owner does not this quantity of time on nairaland. dude has other business. be wise

Jesusloveyou:
roads and railway are what?

Just propaganda.