This happened in Ghana in 2019. Looks like Tinubu is a failure in progress.!!! How I wish he could domesticate local refining. Sponsor research in our local federal universities till the technology is perfected . Petrol will be cheap as well as all by products of crude including jet A1 used by airlines. People will be able to go to work 5 times a week as against the 3 times at the moment. Air travel will be cheaper, lots of job opportunities in our new local refinery as the technology will be largely manual . The best part will be Nigerians will be owning petrol businesses in other African countries and repatriating , CFA, cedi and whatever currencies to Nigeria. The job opportunities will be over 4 million or more.

See mugu who know sabi anything calling others mugus

Pierocash:
Ok

So they will keep borrowing to stabilize the naira abi?

Chai, too many mugus running the country

You mean $3billion subsidy loan payment
🙄🙄

They borrow to reintroduce low budget fuel subsidy, instead of using the money to revive or build another refinery !!Fvck APC government, they are clueless.

This policy will never happen because Tinubu and or whoever comes onboard as president of Nigeria ends up becoming a western puppet at lightning speed. I just hope one stubborn but patriotic politician is reading this and does the needful.

Ikaeniyan0:
The bank is not owned by the west but by Africa.

3billion dollars? How will they pay such a huge amount. More over we are still battling with inflation.

This is a good step in the right direction.

NNPC taking loan from loan sharks. Fairmoney, Carbon and TrueNaira are happy right now

Pierocash:
Ok

So they will keep borrowing to stabilize the naira abi?

Chai, too many mugus running the country

To give watin person no get de hard.

Brendaniel:
So the borrowing continues?

But it's not the Federal govt borrowing. NNPC has been privatised

So NNPC is not borrowing loan for the government? Billions of dollars were looted under buhari

jydeskill1:
Right move. This will provide liquidity for more transactions non-oil transactions in dollars.

How is it a good move?
The nnpcl earns in dollars and supplies the dollars to cbn

So how does it make sense that it is borrowing $3 billion to stabilize dollar

Abi nnpcl is now CBN

Why is refinary rocket science for we Nigerians? Most of this our problems is from importation of products

Larryndelaw:
But it's not the Federal govt borrowing. NNPC has been privatised

And where will the money to pay come from, from America?

No be them dey suffer am now.
Atleast they should understand that is is tough here at the bottom.


I am sure the public officers intentionally ignore first hand media information. They don't want know what is happening here

There should be a protest.

Larryndelaw:
But it's not the Federal govt borrowing. NNPC has been privatised

The $3billion is for fg

Blaze14k:


3billion dollars? How will they pay such a huge amount. More over we are still battling with inflation.

So is it the loan we take that's making our inflation rate high?

I repeat this one na rubbish talk

Brendaniel:
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...

festacman:
Fuel 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.

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

please kindly give us a step by step of how this equals to fuel subsidy cause they have not said NNPLC is the only one to be importing fuel.....have you tried to bring in fuel and anyone stopped you?

EcoNews:
I repeat this one na rubbish talk

[s] [uote author=Brendaniel post=125153327]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...[/s]

Oga, counter with facts.....

Sourcing of loan has moved from being the statutory duty of the central bank to that of nnpc. Let me go and alert iya amala that it will soon become her duty.

So where is the 2 trillion naira saved from subsidy removal?

Taylor90:



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

Meanwhile na them dey suffer pass

online billionaire how u sure say na dem suffer pass . But u know ur papa suffer pass tinubu .

I thought the NNPC is now a private company, why do they take loan on our behalf

leokid866:
please kindly give us a step by step of how this equals to fuel subsidy cause they have not said NNPLC is the only one to be importing fuel.....have you tried to bring in fuel and anyone stopped you?

Where is forex to import? Who did you think solely import fuel in the last 8 years?

This should be part of the $25bn unremited funds exposed by the then CBN governor ,lamido sanusi.

Taylor90:
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

Awa oyel gang! It is time to lament!

uche393:
I don't understand... wtf?
a privatised institution borrowing USD to stabilise NGN
our country is a joke

yes cause the issue with the oil sector is predicated on the fx market, they said they can't access fx at the i&e window cause there's not enough cash flow, the NNPLC through its oil contracts is flushing $3Billion into the FX market to allow liquidity and you people are still shouting.......so they do you shout....they don't do you shout.....what do you now want?

sojisenai:
Borrowing to stabilize beats logic...but well, what do I know?

absolutely nothing.....

Temporary solution.
When will refinery work

Taylor90:
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

Are u a real South Southerner or some ipog masquerading as S.southern?

Shame on all the south south leaders