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FG Plans Additional $2.8bn Foreign Loan To Finance 2018 Budget - This Day - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / FG Plans Additional $2.8bn Foreign Loan To Finance 2018 Budget - This Day (5761 Views)

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Re: FG Plans Additional $2.8bn Foreign Loan To Finance 2018 Budget - This Day by Nobody: 12:03pm On Jun 28, 2018
Bizibi:
30% stake,it is impossible.....even t.y danjuma is not close to 18%
wetin u sabi '''' With the judgement, Famfa’s entitlement to lift 150,000BOPD, or 60% of the 250,000BOPD production from Agbami is now a done deal. This is huge. To put it in context, the volume is around 6% of Nigeria’s 2.5MMBOPD, and clearly a higher volume than (the French Major) TOTAL’s entire equity production in shallow water Nigeria. Yet TOTAL operates four Nigerian offshore acreages and is the fourth largest producer of Nigerian crude.""" govt owns 51% na dem own the rest 49% but they sell it off to major IOC

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Re: FG Plans Additional $2.8bn Foreign Loan To Finance 2018 Budget - This Day by mark2sunny(m): 12:12pm On Jun 28, 2018
Very soon, half of our entire budget would go into loan servicing. Who said the children will not pay for the sins of their fathers?

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Re: FG Plans Additional $2.8bn Foreign Loan To Finance 2018 Budget - This Day by PierreAbutu(m): 12:22pm On Jun 28, 2018
BeeBeeOoh:


https://www.thisdaylive.com/index.php/2018/06/28/fg-plans-additional-2-8bn-foreign-loan-to-finance-2018-budget/amp/


Sai Babarians how far?

Hope u see how your children's futures are slowly mortgaged

Buhari knows nothing about economic management

If he wins in 2019 (God forbid), I can bet with my tablet that $1 =N1000......change, smh

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Re: FG Plans Additional $2.8bn Foreign Loan To Finance 2018 Budget - This Day by GavelSlam: 12:22pm On Jun 28, 2018
yeyerolling:
wetin u sabi '''' With the judgement, Famfa’s entitlement to lift 150,000BOPD, or 60% of the 250,000BOPD production from Agbami is now a done deal. This is huge. To put it in context, the volume is around 6% of Nigeria’s 2.5MMBOPD, and clearly a higher volume than (the French Major) TOTAL’s entire equity production in shallow water Nigeria. Yet TOTAL operates four Nigerian offshore acreages and is the fourth largest producer of Nigerian crude.""" govt owns 51% na dem own the rest 49% but they sell it off to major IOC

Let's do the most basic of computations.

2.5 million barrels of oil at 100 dollars = 250 million dollars daily.

Let's make all of that profit. All of that for the Nigerian government.


250 million dollars divided by 180 million Nigerians = 1.3 dollars for every Nigerian daily.

Stop making this poor nation to appear wealthy.

It has the potential for wealth generation but it is far from wealthy.

1 Like

Re: FG Plans Additional $2.8bn Foreign Loan To Finance 2018 Budget - This Day by Ayomideadesoye(m): 12:26pm On Jun 28, 2018
2018 Budget In July,infact Cancel Dat Budget We Dont Nid It Anymore,if We Can Survive Six Months Without Budget,we Can Survive D Remaining Six Month

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Re: FG Plans Additional $2.8bn Foreign Loan To Finance 2018 Budget - This Day by chiefeconomist: 12:27pm On Jun 28, 2018
Banmeallday:
Why are leaders of the NIgger Area borrowing when they have so called external reserves?

WHO really is running this place? England and international bankers or what?

You've got to understand what external reserves are. They are assets of the central bank, typically purchased using its liabilities, or what others call the domestic currency. The federal gov't cannot spend Nigeria's foreign reserves because it doesn't own it. It belongs to the CBN. How did the CBN get the foreign reserves? By buying the foreign currency, mostly dollars, from the federal gov't. The government cannot go back to ask to have back the dollars it already sold.

Imagine if you go to a mallam at a bureau de change to exchange the $2000 your sister abroad sent you for naira. After spending the naira, can you go back to the mallam to ask for your dollars back? My guess is, you can't.

Now imagine a gov't that does this practice over and over again. What happens? The CBN's reserves are depleted and it wouldn't be able to defend the naira again. The naira crashes and hyperinflation ensues. This has happened within this century, here in Africa - Zimbabwe. Their currency crashed and they still don't have a domestic legal tender after years of hyperinflation.

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Re: FG Plans Additional $2.8bn Foreign Loan To Finance 2018 Budget - This Day by osazeeblue01: 12:38pm On Jun 28, 2018
That's how APC run their government. go and check the states govern by APC.

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Re: FG Plans Additional $2.8bn Foreign Loan To Finance 2018 Budget - This Day by Apina(m): 1:20pm On Jun 28, 2018
undecided
Re: FG Plans Additional $2.8bn Foreign Loan To Finance 2018 Budget - This Day by HAH: 2:04pm On Jun 28, 2018
Government that want to borrower $2.8Billion want to also distribute $500million Abacha loot to the poor, why not use the recovered money to finance the deficits. Must we borrow

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Re: FG Plans Additional $2.8bn Foreign Loan To Finance 2018 Budget - This Day by bobby56(m): 3:56pm On Jun 28, 2018
HAH:
Government that want to borrower $2.8Billion want to also distribute $500million Abacha loot to the poor, why not use the recovered money to finance the deficits. Must we borrow
My friend, you should know that, that is a BIG LIE. They are simply going to use the money for their 2019 election campaign but they would get some hungry Nigerians, say about 50, parade them in the Television as 'Recipients', and just give them [say] N20,000 each and the rest is history. Nothing more!

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Re: FG Plans Additional $2.8bn Foreign Loan To Finance 2018 Budget - This Day by duality(m): 8:05pm On Jun 28, 2018
truthstands12:
National Assembly should stop FG from these borrowings. The future of this country bus being mortgaged.

As usual, the national assembly will be blackmailed to approve it.

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Re: FG Plans Additional $2.8bn Foreign Loan To Finance 2018 Budget - This Day by Elose11(m): 10:03pm On Jun 28, 2018
dbynonetwork:

Please NAIRALANDERS help me I have an assignment at college of education Zuba and I would need you guys to help me to suggest a hotel I can lodge... My budget is 4000-6000k per night ...
With half of that amount you can get a decent hotel in Gwagwalada. Transport fare to Zuba from Gwagwalada is N150. The CoEd is along Gwagwalada road.
Re: FG Plans Additional $2.8bn Foreign Loan To Finance 2018 Budget - This Day by thewesternking: 11:10pm On Jun 28, 2018
When the people representing us won't let us grow as a nation. They prefer to steal the money and keep inside one house.
God help us.
Re: FG Plans Additional $2.8bn Foreign Loan To Finance 2018 Budget - This Day by thewesternking: 11:12pm On Jun 28, 2018
duality:


As usual, the national assembly will be blackmailed to approve it.
If anything, it's the national assembly that blackmails the executive. Bunch of criminals.

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