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NNPC Secures $3bn Loan To Stabilise The Naira - Politics - Nairaland

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Tinubu: We Will Raise $10 Billion To Stabilise Naira, Boost FX Liquidity / Kalu Urges Buhari To Pick Lawan As Successor, Says He'll Stabilise The Country / Power: FG Seeks Fresh $3bn Loan As Darkness Pervades Nigeria(Punch) (2) (3) (4)

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NNPC Secures $3bn Loan To Stabilise The Naira by fergie001: 5:01pm On Aug 16, 2023
Relief For The Naira: NNPC Ltd Secures $3billion Emergency Crude Repayment Loan from AFREXIM Bank

The NNPC Ltd. and @afreximbank have jointly signed a commitment letter and Termsheet for an emergency $3billion crude oil repayment loan.

The signing, which took place today at the bank's headquarters in Cairo, Egypt, will provide some immediate disbursement that will enable the NNPC Ltd. to support the Federal Government in its ongoing fiscal and monetary policy reforms aimed at stabilizing the exchange rate market.

NNPC Limited

16 Likes 2 Shares

Re: NNPC Secures $3bn Loan To Stabilise The Naira by THELATTERMAN(m): 5:02pm On Aug 16, 2023
Okay

2 Likes

Re: NNPC Secures $3bn Loan To Stabilise The Naira by Pierocash(m): 5:03pm On Aug 16, 2023
Ok

So they will keep borrowing to stabilize the naira abi?

Chai, too many mugus running the country

215 Likes 17 Shares

Re: NNPC Secures $3bn Loan To Stabilise The Naira by Taylor90: 5:04pm On Aug 16, 2023
At the end na still South South Oil them go use salvage the Mumu naira at the expense of our destroyed and damaged soil that that can’t grow a mere grass

Na we still dey suffocate with black soot all over Niger Delta while the barren region eat fat on our Mumu disunity

Omo Abeg I no wan vex this evening

130 Likes 10 Shares

Re: NNPC Secures $3bn Loan To Stabilise The Naira by Taylor90: 5:04pm On Aug 16, 2023
Pierocash:
Ok

So they will keep borrowing to stabilize the naira abi?

Chai, too many mugus running the country


They will call you a wailer that will wail for more 7yrs and 9 months

Meanwhile na them dey suffer pass

147 Likes 10 Shares

Re: NNPC Secures $3bn Loan To Stabilise The Naira by Puremind1225: 5:05pm On Aug 16, 2023
Everybody looking for an opportunity to loot

31 Likes

Re: NNPC Secures $3bn Loan To Stabilise The Naira by Ofunaofu: 5:06pm On Aug 16, 2023
NNPC
Re: NNPC Secures $3bn Loan To Stabilise The Naira by inoki247: 5:06pm On Aug 16, 2023
Lol how this country wan even take escape from Dollar Bondage if u say make u leave am make Market force dey control am the Masses go still suffer if u go colet Loan to hold Dollar down na Masses go still suffer am again.,

24 Likes 2 Shares

Re: NNPC Secures $3bn Loan To Stabilise The Naira by Brendaniel: 5:06pm On Aug 16, 2023
nairalanda1 I told you subsidy was not the problem of government borrowing, I told you subsidy removal will fail and they might still borrow which they are already doing even with more suffering on Nigerians, I told you corruption and high cost of governance is the major problem which Tinubu is not tackling and as long as he doesn't tackle it his government has failed even before it starts and will keep failing if he doesn't..

It is not a curse, Tinubu keeps putting the cart before the horse, he was the wrongest person to ever become president of Nigeria at this time, Nigeria has taken a total of about 4 billion dollars in less than 4 months without subsidy, coupled with increased tax and hardship on the people...

70 Likes 7 Shares

Re: NNPC Secures $3bn Loan To Stabilise The Naira by Never4getU: 5:11pm On Aug 16, 2023
Securing loans that eventually ends up in private pockets individuals. This govt should stop this padi padi governance that's causing citizens difficulties

19 Likes 1 Share

Re: NNPC Secures $3bn Loan To Stabilise The Naira by Ikaeniyan0: 5:12pm On Aug 16, 2023
leisuretym:
African countries always falling into western debt traps 🪤
The bank is not owned by the west but by Africa.

NNPLC is flushing $3Billion into the FX market

8 Likes

Re: NNPC Secures $3bn Loan To Stabilise The Naira by YouandiAllofus: 5:12pm On Aug 16, 2023
More like the ultimate price to be paid on the long run by nigerians to amiliorate the immediate harship occassioned by ebola's rash and counter-productive economic policies since assuming office, especially the petroleum sector.

9 Likes

Re: NNPC Secures $3bn Loan To Stabilise The Naira by hisexcellency34: 5:13pm On Aug 16, 2023
Loan Season 2

4 Likes

Re: NNPC Secures $3bn Loan To Stabilise The Naira by masseratti: 5:14pm On Aug 16, 2023
We cannot go on like this.. This is not the way out to stabilize the naira, the only solution is to go the way we did with fuel subsidy, no more special treatment, if you have a window the I and E window and a parallel market with two different rates in one economy, some privileged people who have access to the I and E window to buy Dollars will buy it at a lower rate and sell at the parallel market at an higher rates, also the world is no more in the 90s where market forces closes with banking hours, shut down the I and E windows, buy and sell the dollars at the going rates in the parallel market.. With that you have unified the exchange rates and allowed it to float freely, stop selling to the banks. If you have to sell to the banks sell at the aboki rates and buy at aboki rates.. The demand for dollars I can guarantee will go down 40% under just one week.. Thereby forcing the rate down...
The CBN honcos knows this, this is what we need not loans to defend the naira

It might be ok for short term but what happens when it's exhausted? It's a vicious circle.. Only way out is for CBN since they are the largest holder of the currency or the IOCs to buy and sell at the parallel market rates abolish the I and E window.. It's just a conduit for another round tripping.. That's what is causing the rise in dollars thereby triggering inflation.

51 Likes 4 Shares

Re: NNPC Secures $3bn Loan To Stabilise The Naira by Righthussle: 5:14pm On Aug 16, 2023
Make we kukuma change the name of our country to Nigerloan.

21 Likes 1 Share

Re: NNPC Secures $3bn Loan To Stabilise The Naira by festacman(m): 5:14pm On Aug 16, 2023
Subsidy is partially back through the backdoor. NNPC gets loan to stabilize the current price of petrol with FG's guarantee, which in turn saves FG from the embarrassment of 'policy summersault' supplementary budget journey to NASS. I stand to be corrected.

Short term measure to allow both FG and the people to breath but still not the enduring answer.

45 Likes 5 Shares

Re: NNPC Secures $3bn Loan To Stabilise The Naira by a4cube: 5:14pm On Aug 16, 2023
As CBN or what?

40 Likes

Re: NNPC Secures $3bn Loan To Stabilise The Naira by Thugnificent(m): 5:14pm On Aug 16, 2023
Doesn't make any sense

24 Likes

Re: NNPC Secures $3bn Loan To Stabilise The Naira by DropsMic(m): 5:14pm On Aug 16, 2023
Voicemail
Re: NNPC Secures $3bn Loan To Stabilise The Naira by Nobody: 5:14pm On Aug 16, 2023
Only this Capital Three Words "***" can resurrect the Shiiithole and make it a better place.

Until then.

Signed Out.

4 Likes 2 Shares

Re: NNPC Secures $3bn Loan To Stabilise The Naira by leisuretym: 5:14pm On Aug 16, 2023
ok
Re: NNPC Secures $3bn Loan To Stabilise The Naira by Hiploko(m): 5:14pm On Aug 16, 2023
aa
Re: NNPC Secures $3bn Loan To Stabilise The Naira by wittywriter: 5:15pm On Aug 16, 2023
Always through loan(s)...all shades of incompetence.
fieryblitz:
What's the business of NNPC and monetary policy? This country matter dey funny me! Where's the Ministry of Finance/ CBN governor?
Evolutionlove:
Only this Capital Three Words "***" can resurrect the Shiiithole and make it a better place.
Until then.

Signed Out.

BoldBrainz:
How is NNPC going to repay the loan? In their desperate bid to curtail the consequences of their half-baked policies, they're now scrambling for loans, to the extent NNPC is taking loans on behalf of the FG and the CBN.. .

Not every news that puts money in our national purse should be celebrated. What are the terms of repayment attached to this swift loan disbursement? Same nonsense Buhari and Emefiele were doing, today we're realising that those buffoons were busy printing trillions of naira without appropriate consultation and consent.

Now NNPC is taking loans on behalf of the government without telling us the attached conditions.

Wittyness
Re: NNPC Secures $3bn Loan To Stabilise The Naira by atobs4real(m): 5:15pm On Aug 16, 2023
What for? Don't understand.
Please fill in the gaps
Re: NNPC Secures $3bn Loan To Stabilise The Naira by uche393: 5:15pm On Aug 16, 2023
I don't understand... wtf?
a privatised institution borrowing USD to stabilise NGN
our country is a joke

49 Likes 2 Shares

Re: NNPC Secures $3bn Loan To Stabilise The Naira by sojisenai(m): 5:15pm On Aug 16, 2023
..

1 Like

Re: NNPC Secures $3bn Loan To Stabilise The Naira by Smartguyboy(m): 5:15pm On Aug 16, 2023
fergie001:


NNPC Limited
Money they will share to their cartel and relatives

Lol
Nobody want to see this zoo prosper a working country mean nothing for them anymore.

8 Likes

Re: NNPC Secures $3bn Loan To Stabilise The Naira by TeeAL(m): 5:15pm On Aug 16, 2023
Let's hope it's not looted!

2 Likes

Re: NNPC Secures $3bn Loan To Stabilise The Naira by YourMrBoo: 5:15pm On Aug 16, 2023
Who counted it and vetted it to be $3billion

This is another nnpc scam

6 Likes

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