Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,152,732 members, 7,817,015 topics. Date: Friday, 03 May 2024 at 11:03 PM

NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu - Nairaland / General (3) - Nairaland

Nairaland Forum / Nairaland / General / NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu (14297 Views)

Hire Skilled Technician Offering Aircon Duct Cleaning Services To Stabilise Indo / Become A Part Of Onpassive, A Tech Company Already Valued At $3Bn Before Launch. / NNPC Filling Station In Edo On Fire (Photos, Video) (2) (3) (4)

(1) (2) (3) (4) (5) (Reply) (Go Down)

Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by Jostoman: 10:56am On Aug 17, 2023
No wonder baba of lagos refuse to debate before election.
Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by renderme: 10:57am On Aug 17, 2023
leanonme82:


Everybody knows this. Do Ur part by ensuring u only buy Nigerian and starve dollar demand.

Tinubu is an accountant and focusing heavily on revenue. This is why there has been a lot of activity in the SS recently to cut off illegal crude loopholes and his focus on natural gas.
We have other industries of course and Buhari did a good job on Agricultural exports.Im not sure this govt is focused on injecting money into other sectors apart from this 2 though.

Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by Bigkoko: 11:00am On Aug 17, 2023
Like Buhari like Asiwaju, na borrow borrow them sabi. See how over yoked Lagos is with debts. Currently the most indebted state in the Federation.
All kinds of agreements and guarantees have been given with Lagos assets just because of this old granpa!

Let me tell you, could be the Assets of NNPC & personal guarantees, was used to secure the loan as no sane Western Institution would risk giving loans to a debt ridden country like Nigeria and with a "president whose election is credibly contested", according to my nigga George Galloway MP. Your guess is as good as mine, that money would find its way into private pockets......
Loan was not tied to anything physical but to prop up FX..... For how long, if these so called daft leader dont ask, should you not; the sane followers, at least ask? Or are Nigerians now thinking like a mainstream BATS?

For who ever that gave that loan, the T&C must be too good to be true. Asiwaju is in a hole (economically & politically) instead of him to stop digging & throw in the trowel, he is busy digging further, there by becoming more clueless than buhari..... The thing is that Asiwaju is making an already bad situation worse!

Tufiakwa.....

Nigeria as you know her is BANKRUPT. 90% of her assets are tied to none performing loans. Major lenders wont lend on easy terms, especially not now when a cartel baggy man is temporary in charge.

1 Like

Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by Dyfynezz12(m): 11:08am On Aug 17, 2023
leisuretym:
How will Atiku pay all the loans he took from his Dubai and Turkish associates for election? He can’t go to Dubai anymore, he has to pay the debts, chai. I can feel his pain.
This post is not about Atiku

1 Like

Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by Bigkoko: 11:09am On Aug 17, 2023
Now i know why we have the least intelliginet people in two regions, save those who found themselves in cities with educated persons..... If these people dont know what to say, they should at least shut the Bleep up!

How do you stablize the Naira by borrowing in dollars!

If the Russian war in Ukraine didnt teach these slowpoke lessons, they should have realized that the only thing that makes your currency stabilize even if all the whole world is fighting you, is if you manage to make your currency sought after. Which Putin somehow pulled off by making the west pay for Russian gas in Rouble! Instantly the Rouble rised against the Euro, Pound, Dollars. But these mumu go go borrow in dollars and expect the naira to rise!

This is the mafia way Emefiele stabilized the naira, he made sure foreign company dont get dollars in Nigeria, making them adjust to keeping their income in Nigeria.... Simple economics which these Oluwole leaders no understand

4 Likes

Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by MASTAkiLLAh(m): 11:10am On Aug 17, 2023
Free2airing:
It's better than to he seeing Naira falling
then free Emefiele or is the problem really about his tribe ?
Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by Bigkoko: 11:11am On Aug 17, 2023
Las las una go sense! The praise singers who call themselves BATIST don dey fade due to trekking & hunger!

1 Like

Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by nedekid: 11:12am On Aug 17, 2023
leisuretym:
How will Atiku pay all the loans he took from his Dubai and Turkish associates for election? He can’t go to Dubai anymore, he has to pay the debts, chai. I can feel his pain.
So in all this that affects our lives and future as Nigerians, it is Atikus personal affairs that worries you?

2 Likes

Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by MT: 11:13am On Aug 17, 2023
adioolayi:
Sometimes, when you choose to always criticise government policies and moves blindly, all in the name of opposition...you end up appearing empty!


The economy is on the brink of collapse...fuel subsidy is removed and there is pressure on price of PMS due to rising cost of crude.

There is scarcity of FX for PMS importers, because CBN cannot meet their FX demands..

This is forcing these players to source for FX at black market and the resultant effects is more pressure on Naira that has already been devalued..the gap between official and black market rates keeps widening...and the prices of goods and services are skyrocketing.


So, what exactly is bad in NNPC sourcing for their own FX and possibly that of PMS importers from international partners like Afrixim bank
This move, yes temporary, will ease off pressure on the demand for scare FX since the PMS importers are the major consumers of FX.

Hopefully, this temporal measure will give ample time for atleast PHC refineries to start working.

So, nothing wrong in technically buying time to resolve some issues like fixing of refineries.

This move will also strengthen the Naira and the fear of increasing the PMS pump price.

The creativity behind the policy without having to result to subsidy regime is worth applauding on its own

3 Likes

Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by adedayourt(m): 11:17am On Aug 17, 2023
AntiChristian:
Opposition is only there to "Oppose" anything the ruling party brings to table!
Only few of their comment is patriotic!

Let them wail small!
Bigger cries coming soon!

Since you lack the reasoning ability let me help you.


Few months ago, nigeria was in this mess under Buhari and they secured similar loan ask yourself what became if the money today.

But your head commit conne6 the dots as your work is to defend nonsense

1 Like

Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by MT: 11:17am On Aug 17, 2023
Bigkoko:
Now i know why we have the least intelliginet people in two regions, save those who found themselves in cities with educated persons..... If these people dont know what to say, they should at least shut the Bleep up!

How do you stablize the Naira by borrowing in dollars!

If the Russian war in Ukraine didnt teach these slowpoke lessons, they should have realized that the only thing that makes your currency stabilize even if all the whole world is fighting you, is if you manage to make your currency sought after. Which Putin somehow pulled off by making the west pay for Russian gas in Rouble! Instantly the Rouble rised against the Euro, Pound, Dollars. But these mumu go go borrow in dollars and expect the naira to rise!

This is the mafia way Emefiele stabilized the naira, he made sure foreign company dont get dollars in Nigeria, making them adjust to keeping their income in Nigeria.... Simple economics which these Oluwole leaders no understand

So you are suggesting the FG starts asking for it's crude oil to be paid for in naira in order to strengthen it, just like Russia did. Right?

So, in a country that is not self sufficient like Nigeria, if you want to pay for ticket fare, or order goods from abroad, where will you get the dollars for it? How will Nigeria settle her international trade? You don't even know that a dollar is currently trading more than 100 roubles in Russia right now.

If you are in charge of Nigeria economy, you will easily bankrupt it.

2 Likes

Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by Saidfx(m): 11:19am On Aug 17, 2023
emmachukwu99:
That loan, won't federal government pay it back? What will happen to Naira when they'll be paying it back?

Read before comment. They are not paying in cash but with crude oil production in near future. The loan will be disbursed in phases and not once. Anything to stabilize the naira is welcomed and it should be a temporal thing, because by next year a refinery should be operating. It's well
Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by lightoftheday: 11:19am On Aug 17, 2023
leanonme82:
It has to be stabilized through NNPC. The oil imports are putting too much pressure on the newly deregulated FOREX market. It's good & creative way to stabilize the dollar demand.

The naira freefall can't be allowed to continue cos it will increase petrol prices. When the refieries are working and we don't need dollars to import fuel, the demand on dollar will reduce and the loan will be removed (the loan pays for itself cos it's against crude liftings on the NNPC balance sheet, we are not repaying in dollars).

Nigeria can't afford for fuel prices to rise further. It will increase inflation. The president did the right thing. Atikus guys just pissed he made dt choice. They were loving the disaster that was about to happen.
You have a functioning brain

1 Like

Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by nedekid: 11:22am On Aug 17, 2023
Bodexinvest:
Dubious or not, let them stabilize the naira.
It is temporal, when it is blown, it returns. Artificial is a better word.
Since Nigerians know it is artificial, what will happen is that those with liquid cash will rush to buy dollars at the improved price, pending when the 3b is depleted.
Let's be optimistic though that some miracle happens.
Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by zinaunreal(m): 11:28am On Aug 17, 2023
Fight the cause not the symptom . This one is just temporary and the naira will Definitely be threatened again
Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by ppogba: 11:41am On Aug 17, 2023
It's seems those with the access to the media are the most stupid of Nigerians.

Crying when unecessary and wailing when it is irrelevant.
Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by Benrosaria(m): 11:44am On Aug 17, 2023
Just the same way Buhari's aide was condemning every action of Goodluck, and yet it got to Buhari's turn he did nothing.

All of you have nothing to offer as long as I know you all are chasing your own food.

That's survival. When everyone is chasing it's food

But living is cooking food for us to eat.


Leaders will live again
Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by leisuretym: 11:45am On Aug 17, 2023
Jostoman:
dont just open your mouth and talk what you dont know. Were you there when he borrow money from dubai?

I only think, I was not there, I assume he may have or probably not, most politicians borrow money for election
Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by Nobody: 11:45am On Aug 17, 2023
Toh!
Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by uncleu01: 11:51am On Aug 17, 2023
leisuretym:
How will Atiku pay all the loans he took from his Dubai and Turkish associates for election? He can’t go to Dubai anymore, he has to pay the debts, chai. I can feel his pain.

Why can't you focus on the topic and issues under discuss than attacking individual

1 Like

Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by alimiadedayo1: 11:52am On Aug 17, 2023
leisuretym:
How will Atiku pay all the loans he took from his Dubai and Turkish associates for election? He can’t go to Dubai anymore, he has to pay the debts, chai. I can feel his pain.
you are a very stupid human being.. when did he borrow money from your generation? useless kid they suppose to wash your sperm away instead of coming to this world with your stupid mentality.. we are talking about serious matter concerning Nigeria development, you are diverting the matter with your useless IQ

1 Like

Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by Jostoman: 12:18pm On Aug 17, 2023
leisuretym:


I only think, I was not there, I assume he may have or probably not, most politicians borrow money for election
you think and you are saying how will Atiku pay the loan he took from dubai as if you are the manager that sign the cheque for him. This Bat people self.

1 Like

Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by Burob: 12:18pm On Aug 17, 2023
lightoftheday:

You have a functioning brain
You should ask yourself that question.
Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by Burob: 12:19pm On Aug 17, 2023
Jostoman:
you think and you are saying how will Atiku pay the loan he took from dubai as if you are the manager that sign the cheque for him. This Bat people self.
Atiku & Obidients, disgruntled Hypocrites.
Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by Menclothing: 12:39pm On Aug 17, 2023
BrickDevo:
They're just fooling themselves, we know what they're doing, wetin concern NNPCL with stabilization of naira, when CBN is still existing and functional.

CBN and Fedral government can’t borrow again Jonathan and Buhari borrowed so much to reach the peak of debt

If you president oF Nigeria today u can’t pay subsidy no money for that
You can’t borrow to pay for subsidies or anything we have reach limit

Reason they use NNPL

They have to change from NNPC to NNPL

Nigeria don scatter subsidies borrowing too much

Buhari used emiefele to be borrowing to defend Naira
Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by Cantonese: 12:53pm On Aug 17, 2023
Tareq1105:
Hatred will kill Atiku.

I expect any right thinking Nigerian to support any step to stabilize the Naira except for Atiku and his co travellers.

How would someone hate his country just bcoz he lost election?

Atiku for your information, Nigeria and Nigerians would not wait for you.

Are you out of secondary school yet?

1 Like

Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by fennels007(m): 1:11pm On Aug 17, 2023
Borrowing to stabilize currency is a wasted effort, the strength of a country s currency is endemic. It comes from the country's production capacity.

If u like borrow all the $s in the world, it may ONLY succeed in giving temporary/fake strength.

ladididanlami:


https://www.vanguardngr.com/2023/08/nnpcs-3bn-loan-fgs-dubious-attempt-to-stabilise-naira-says-atikus-aide/
Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by Abufo: 1:19pm On Aug 17, 2023
Zupay:
Borrow dollar to stabilize naira and use the dollar pay for import, after it has been depleted. loan has to be repaid. Makes no economic sense.



stealing government loot and appearing on the pages of ovation does not make you financial whizkid.........peter obi would have performed far better!
Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by fxexperts: 1:19pm On Aug 17, 2023
leanonme82:
It has to be stabilized through NNPC. The oil imports are putting too much pressure on the newly deregulated FOREX market. It's good & creative way to stabilize the dollar demand.

The naira freefall can't be allowed to continue cos it will increase petrol prices. When the refieries are working and we don't need dollars to import fuel, the demand on dollar will reduce and the loan will be removed (the loan pays for itself cos it's against crude liftings on the NNPC balance sheet, we are not repaying in dollars).

Nigeria can't afford for fuel prices to rise further. It will increase inflation. The president did the right thing. Atikus guys just pissed he made dt choice. They were loving the disaster that was about to happen.
You can see the deal that the NNPC signed to borrow money. later some of your kinsmen will come online to rant that the west are stealing or exploiting your resources abi. when you guys collected $2bn from you didn't know they were stealing their money too abi.
Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by lexy2014: 1:41pm On Aug 17, 2023
leisuretym:
How will Atiku pay all the loans he took from his Dubai and Turkish associates for election? He can’t go to Dubai anymore, he has to pay the debts, chai. I can feel his pain.

How does negate what he said about nnpc borrowing loan to stabilize the naira?
Re: NNPC’s $3bn Loan, FG’s Dubious Attempt To Stabilise Naira, Atiku’s Aide, Shaibu by lexy2014: 1:44pm On Aug 17, 2023
leanonme82:
It has to be stabilized through NNPC. The oil imports are putting too much pressure on the newly deregulated FOREX market. It's good & creative way to stabilize the dollar demand.

The naira freefall can't be allowed to continue cos it will increase petrol prices. When the refieries are working and we don't need dollars to import fuel, the demand on dollar will reduce and the loan will be removed (the loan pays for itself cos it's against crude liftings on the NNPC balance sheet, we are not repaying in dollars).

Nigeria can't afford for fuel prices to rise further. It will increase inflation. The president did the right thing. Atikus guys just pissed he made dt choice. They were loving the disaster that was about to happen.

Who is responsible for the naira freefall that you say can't be allowed to continue?

How is what you say Tinubu did that is the right thing different from what Emefiele was doing by defending the naira?

How is taking loan a "good & creative way to stabilize the dollar demand"?

When did nnpc now become the conduit thru with the nigerian govt borrows loans for anything how much more for stabilising the naira?

1 Like

(1) (2) (3) (4) (5) (Reply)

FOR YOUR DREAM HOUSE DESIGN ,BEST BUILDING PLAN,BUILDING APPROVAL / The People Perish For Lack Of Knowledge- VANGUARD / Always Find A Balance In Life

(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 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 56
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.