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Nairaland Forum / Nairaland / General / Business / Why Naira Is Under Pressure (153 Views)
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Why Naira Is Under Pressure by Blaze14k: 3:19am On Feb 09 |
The federal government borrowed 3 billion dollars to protect the naira by mortgagimg 167 million barrels of crude oil worth over 12 billion dollars at 12% interest rate. Sentiment aside, I sense there's a deliberate attempt to make sure our refinery will source for crude oil elsewhere in order to keep the petrol price high. The government easily borrow 3 billion dollars by exchanging it for crude oil. Even the subsidy money could have easily been swapped for dollar. This administration is not entirely honest with what they are doing but everybody is quiet except atiku who asked the government to account for 3 billion dollars they borrowed. I pray tinubu gets back to his senses if not it might get worse than you actually think. The decisions this government are taking does not make sense. |
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