Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,659,243 members, 6,243,338 topics. Date: Thursday, 15 April 2021 at 11:58 AM

Nigeria Could Be Owing ₦16trn By End Of 2021 – Obaseki - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Nigeria Could Be Owing ₦16trn By End Of 2021 – Obaseki (174 Views)

1,525 Nigerians Killed In Six Weeks Of 2021 / CBN Loan: How Banks Created N1.16trn Credit In 6 Months / With Abiola As President, Nigeria Could Have Been Spared Ethno-religious Tension (2) (3) (4)

(1) (Reply) (Go Down)

Nigeria Could Be Owing ₦16trn By End Of 2021 – Obaseki by Etrusen(m): 3:37pm On Apr 08
Obaseki raised the alarm on Wednesday during a meeting with the Transition Committee members at the Government House in Benin City, the Edo State capital.

He noted that the major oil giants like Chevron and Shell no longer invest so much oil as was obtainable in the past.

The governor, being an investment banker, explained that Chevron is now one of the world’s investors in alternative fuel, adding that Shell intends to pull out of Nigeria.“In another year or so, where will we find this money that we go to Abuja to share every month? Last month, we got FAAC for March. The Federal Government printed an additional ₦50 to ₦60 billion to top-up for us to share,” he said.

“We say remove subsidy, they say no. This April, next week again, we will go to Abuja and share. By the end of this year, the total borrowing is going to be in excess of ₦15 to ₦16 trillion.


“My worry is that we will wake up one day like Argentina, the naira will be ₦1,000, ₦2,000 and will be moving because we don’t have money coming in. You are just borrowing, borrowing and borrowing without any means or idea of how to pay back.”

Obaseki also spoke about the 2023 general elections, noting that politicians whose aim is to buy votes during the polls might find it tough doing so.

He backed the Independent National Electoral Commission (INEC) on the deployment of technology to track and monitor elections in the country.

“INEC itself had also begun its own process of change. They have been worried, scandalised by what happened in Kogi and Bayelsa and were trying to redeem themselves.

“So using technology, they made sure that as soon as you finish voting in the polling unit, that result was uploaded straight into a portal so they can see the pattern which makes it difficult to change results at the collation centers.

“That was what helped us. So any candidate or political party that does not see this and expects that we will do business as we used to do before, we are taking a huge risk.”
Re: Nigeria Could Be Owing ₦16trn By End Of 2021 – Obaseki by Mightyhaiz: 3:42pm On Apr 08
Abeg where una for dey see dis kain brilliant Governor?
Re: Nigeria Could Be Owing ₦16trn By End Of 2021 – Obaseki by Emmanuelcann: 3:44pm On Apr 08
Some borrow to plunder, then create deadly crisis to divert attention. Nobody can hold them to account but God surely will! Meanwhile fools are busy engaging in inter tribal battles in this modern age. Can't we ask our representatives to be accountable for their mandates?
Re: Nigeria Could Be Owing ₦16trn By End Of 2021 – Obaseki by kennykruzmason: 4:32pm On Apr 08
I feel bad for who ever will continue from 2023
Re: Nigeria Could Be Owing ₦16trn By End Of 2021 – Obaseki by nthony10: 4:42pm On Apr 08
This is the kind of leader I love, one that says the truth and isn't afraid of anything.
Re: Nigeria Could Be Owing ₦16trn By End Of 2021 – Obaseki by mideactive: 5:40pm On Apr 08
Why is he telling us undecided

(1) (Reply)

Making Sense Of Nigeria’s Fulani-farmer Conflict / #dream,prophesy,intoxication Or Vision......the Peoples Democratic Party (pdp) I / Politics

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2021 Oluwaseun Osewa. All rights reserved. See How To Advertise. 35
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.