FG Strained To Meet 650m Barrels Target Over Crude-backed Loans - Politics (2)

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FG Strained To Meet 650m Barrels Target Over Crude-backed Loans - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / FG Strained To Meet 650m Barrels Target Over Crude-backed Loans (6221 Views)

BREAKING: Major Shakeup As Tinubu Directs CBN To Take Over Crude Sales From NNPC / 84m Barrels Of Nigerian Crude Oil Unsold, Stranded At Sea / Crude Oil Discovered In North East (1 Billion Barrels) - Timipre Sylva (2) (3) (4)

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Re: FG Strained To Meet 650m Barrels Target Over Crude-backed Loans by LagosSuperStar: 10:03am On Jan 16

RepoMan007:
The burden of debt. Future oil has already been used to take loans that are being wasted as we speak.
Even Ghana too used their precious cocoa to take loans.

We have graduated from selling raw material as they are available to selling them in advance and spending wasrefully plus lavishly.

Nigeria and the art of eating the future

Re: FG Strained To Meet 650m Barrels Target Over Crude-backed Loans by LagosSuperStar: 10:06am On Jan 16

Akwamkpuruamu:
I'm yet to see the amount of money and figures Nigeria makes from Gold in Zamfara

That's the cheating in Nigeria

Re: FG Strained To Meet 650m Barrels Target Over Crude-backed Loans by GreenCovering: 10:26am On Jan 16

Are we being prepped to accept that even if Dangote refinery goes full steam ahead it may not have so great an impact on economic recovery because the core issue here is the crude oil itself which had been sold in advance to acquire loans?
Serious!!!

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Re: FG Strained To Meet 650m Barrels Target Over Crude-backed Loans by happney65: 10:56am On Jan 16

tctrills:
If Tinubu is able to pull this country from disaster, he would be the greatest president of all times but if not, he would be just another wasted opportunity.
In 2023, we needed to vote for a very frugal leader. We needed someone that would reduce our spending. But clearly, we got another spending machine.
I remember Kemi Adeosun telling us that the borrowing and spending was going to save the economy. It's clear that she never knew what she was talking about.

They voted a Bulabalu that was telling them "shey na statistics we go chop"

Werey presido

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Re: FG Strained To Meet 650m Barrels Target Over Crude-backed Loans by tctrills: 10:57am On Jan 16

happney65:

They voted a Bulabalu that was telling them "shey na statistics we go chop"

Werey presido

Unfortunately even those that did not vote for him would also suffer

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Re: FG Strained To Meet 650m Barrels Target Over Crude-backed Loans by DeOTR: 11:11am On Jan 16

So we were producing 2.2 million barrels per day in 2013, and the prices were much higher than now?
Buhari's government is and nothing to write home about, but I can't just imagine Jonathan government failed due despite having huge resources at its disposal.

Re: FG Strained To Meet 650m Barrels Target Over Crude-backed Loans by NAC1666: 11:25am On Jan 16

Islie:
• Loss may hit $10.73b as country fails to meet production benchmarks in last 10yrs
• Forex crisis to persist amidst elusive economic diversification plan
• Tinubu, NASS jettison economic analysts, place economy recovery on uncertain oil market
• Stakeholders insist budget assumptions unrealistic
Dangote should go into crude oil exploration

https://guardian.ng/news/fg-strained-to-meet-650m-barrels-target-over-crude-backed-loans/

Re: FG Strained To Meet 650m Barrels Target Over Crude-backed Loans by wink2015(m): 12:36pm On Jan 16

NIGERIA GO AND FACE MECHANIZED AGRICULTURE.

STOP DECEIVING THE PEOPLE.

NO FREE MONEY ANYWHERE !

Re: FG Strained To Meet 650m Barrels Target Over Crude-backed Loans by Gboss247(m): 1:07pm On Jan 16

Islie:
[b]• Loss may hit $10.73b as country fails to meet production benchmarks in last 10yrs
• Forex crisis to persist amidst elusive economic diversification plan
• Tinubu, NASS jettison economic analysts, place economy recovery on uncertain oil market
• Stakeholders insist budget assumptions unrealistic [/b]https://guardian.ng/news/fg-strained-to-meet-650m-barrels-target-over-crude-backed-loans/

Attention! Attention!! Attention!!
Nigeria being an oil dependent when fossil fuels are being phased out and electric cars are manufactured is disastrous. While renewable energy is making oil irrelevant, Nigeria is still expecting magics from oil sector.

Re: FG Strained To Meet 650m Barrels Target Over Crude-backed Loans by Gboss247(m): 1:14pm On Jan 16

wink2015:
NIGERIA GO AND FACE MECHANIZED AGRICULTURE.

STOP DECEIVING THE PEOPLE.

NO FREE MONEY ANYWHERE !

Nigeria can alot of forex from the entertainment by selling Nigerian musics, movies and comedies on a Nigerian app instead of South African Showmax or American Netflix and Amazon apps.

Re: FG Strained To Meet 650m Barrels Target Over Crude-backed Loans by blueAgent(m): 1:14pm On Jan 16

cucumbar:
when will you people learn that this country won’t move forward based on your believe or no believe, but by holding the government of the day accountable to do the right thing?

The write up has laid bare the facts that will determine the outcome.

When will you evil supporters see things as they are and call out the people you support to do the right thing?
Are you not tired of going round in circles?

You dey mind the gullible ppl.
I believe, I believe they they suffer ,they smile.
Confused ppl.

Re: FG Strained To Meet 650m Barrels Target Over Crude-backed Loans by ebufa: 1:59pm On Jan 16

datopaper:
Many things will contribute to the success or expectations.

It is better to have a plan than to have none.

I believe this government is capable . It will tough but I see success through.

The Tinubu government has chosen to tackle the easiest road first instead of plucking the lowest hanging fruit! The easiest road is to focus on increased oil production and of course higher forex earnings......nothing bad in that except that this move will not boost our economy and sustain it in the wrong run.

The crude oil sector is less than 20% of our GDP, why is the government expending 90% of its time and resources on it?

Peter Obi like the better economist and mangaer that he is.........said the economy lacks local domestic production! Simplicita!!!

What Tinubu should do is spend money saved from subsidy on retweaking the local security architecture and hiring mercenaries to deny the bandits operational bases........the Nigerian army and the new recruited police forest guards can now occupy the areas liberated by the mercenaries! once the indigent population returns to their farms...agric production will go up...and prices will come down!

for southeats ...release nnamdi kanu...get kanu to bring simon ekpa on board and institute a commission led by obasanjo and other clergy to look at the whole killings surrounding the biafra agitation! People must know that it is not the Biafra agitation per say that caused the violence in the southeast....it was the summary execution of IPOB menbers and fulani herdsmen killings in igbo land that caused most of the retaliatory killings of security men! Once you reduce tension in the east .....production and business will start booming in the east

So it is all about increasing domestic production.........thereby increasing our overall GDP, where people source their forex will be taken care of by efficiencies inherent in higher revenue they make!

Re: FG Strained To Meet 650m Barrels Target Over Crude-backed Loans by BondRiv: 2:34pm On Jan 16

We need to put a stop to this excessive borrowing.

Why does Nigeria keep borrowing so much with little to show for it? Most of which are looted by useless and cursed individuals. Our institutions are weak and nothing happens to them.

Even the crude oil we so rely upon, have we been able to stop its theft? What about the crude oil production being under declared?

Pity.

Re: FG Strained To Meet 650m Barrels Target Over Crude-backed Loans by Yankee101: 5:32pm On Jan 16

No new income
Using crude production to pay loans
Loans that have largely been stolen

Re: FG Strained To Meet 650m Barrels Target Over Crude-backed Loans by delpee(f): 7:50pm On Jan 16

tctrills:
If Tinubu is able to pull this country from disaster, he would be the greatest president of all times but if not, he would be just another wasted opportunity.
In 2023, we needed to vote for a very frugal leader. We needed someone that would reduce our spending. But clearly, we got another spending machine.
I remember Kemi Adeosun telling us that the borrowing and spending was going to save the economy. It's clear that she never knew what she was talking about.

Kemi was probably talking about borrowing and spending in terms of critical infrastructure. She didn't reckon with the grand looting that takes place once the loans are available.

Re: FG Strained To Meet 650m Barrels Target Over Crude-backed Loans by tctrills: 9:09pm On Jan 16

delpee:

Kemi was probably talking about borrowing and spending in terms of critical infrastructure. She didn't reckon with the grand looting that takes place once the loans are available.

and still, we don't have the critical infrastructure she was talking about.

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