freakyavia: oga BAT paid just 3% of the countries debt we are not top 25 but we are indebted
You dey mind those who are excited with partial information propaganda that Tinubu and APC have used to destroy our country.
Nigeria’s public debt hits N149.39 trillion in Q1 2025 – DMO
Nigeria’s total public debt rose to N149.39 trillion as of March 31, 2025, marking a year-on-year increase of N27.72 trillion or 22.8% when compared to the N121.67 trillion recorded in the corresponding period of 2024.
The latest figures from the Debt Management Office (DMO) also indicate a quarter-on-quarter increase of N4.72 trillion or 3.3% from N144.67 trillion as of December 31, 2024.
This consistent upward trajectory in Nigeria’s debt stock reflects both fresh borrowings and the impact of a depreciating exchange rate on external debt obligations. @ @ Domestic debt nears N79 trillion, driven by fresh borrowings
- The domestic component of Nigeria’s debt also maintained an upward trend, reaching N78.76 trillion ($51.26 billion) at the end of March 2025. - This reflects a year-on-year increase of N13.11 trillion or 20% from N65.65 trillion ($49.35 billion) in March 2024. - On a quarterly basis, domestic debt rose by N4.38 trillion or 5.9%, up from N74.38 trillion in December 2024. - The Federal Government alone accounted for N74.89 trillion of this total, while the 36 states and the Federal Capital Territory (FCT) jointly held N3.87 trillion. Interestingly, state-level domestic debt declined slightly from N3.97 trillion in Q4 2024 and from N4.07 trillion in Q1 2024, settling at N3.87 trillion by the end of March 2025.
[quote author=wwwihy post=138415455]President Bola Tinubu did wonders[/quote]Wonders of borrowing away our future generations with other creditors apart from IMF?
Any idea why he has failed to achieve his N300/$1 short term goal despite his $3.3 billion SPV Afreximbank loan, secured with future oil revenues
This is the propaganda that clueless politicians are pushing to excuse their own failures.
Oil revenues were low during Obasanjo years but the economy grew. The oil revenues shrank again from 2013 to the extent that Buhari cluelessly promised to fix the oil price. Nevertheless, PDP’s deregulation and privatisation policies grew the economy, which CNN Money projected to grow at 7% in 2015, before Tinubu’s 2011 expired Buhari destroyed everything into recession and stagflation.
anonimi: FG, States, LGs Share N568.4 Billion for Oct 15 NOVEMBER 2013
Also, $1billion was proposed for distribution to complement shortfall in expected revenue." The $1billion is a compromise by the FG over its words in September not to augment shortfalls anymore.
Responding to the presentation, the chairman of the States Commissioners of Finance and Ebonyi State Commissioner of Finance, Mr Timothy Odaah, lamented that the statutory allocation was getting smaller and smaller. "It appears this is the worst in terms of returns. This is the least in allocations as far as this year is concerned. We are mourning the dearth of funds and this is a wakeup call for states and local governments to buoy up their internally generated revenue."
While appreciating the "magnanimity" of President Goodluck Jonathan to approve the $1billion from the excess crude account and to be shared among the federal, state and local governments, Odaah expressed disappointment with the returns made by the NNPC.
He said that the states had requested for $2bn to complement for the shortfall in revenue but got only $1billion. In September, Odaah and fellow commissioners had walked out of the Accountant General of the Federation (AGF) when the federal government said that the framework of the 2013 budget was no longer realistic and it won't augment shortfall in revenue. Odaah raised issues with the statutory allocations of previous months.
fmlala: Either he takes it or not " A ma dibo, a ma wole"
How far with the price of petrol that jagaban of Borgu promised to crash during his Abeokuta rally
Is that happening anytime soon, abe e ti roll e over until infinty?
Deltafirstson: Although the pump price of fuel was N197 when President Bola Tinubu took over on May 29, 2023, the product now sells for N617 per litre – less than two months after.
In his inaugural address, Tinubu announced that subsidy was gone, fulfilling a promise that all leading presidential candidates made during the campaign.
Nigerians have been lamenting the hardship occasioned by fuel price hike. Amid the lamentation, a video where Tinubu campaigned to slash the price of fuel went into circulation.
Checks by Daily Trust affirmed the authenticity of the video uploaded on the YouTube page of Channels Television.
At his campaign rally in Abeokuta, Ogun State capital, on January 25, 2023, Tinubu spoke on a number of issues, but those of fuel scarcity and naira redesign made the headlines.
However, Tinubu who spoke in Yoruba language, also assured the crowd that though people were saying petrol price would hit N200, it would be reviewed downward under him.
“The great Nigerian youths, the great Nigerian students, the confident Nigerian youths. This is a revolution. This election is a revolution. They are plotting, but they will fail. They said fuel price will increase and reach N200 per litre. Go and relax, we will bring it down,” he had said in the 7th minute of the video.
Nakuza: And then ask, when would Nigeria get to this level of integrity in governance?
It is so disheartening that we are still fighting to enshrine compulsory electronic voting in our political system. Normally this shouldn't be an issue at all.
It is quite unfortunately that we have a very poor political culture.
We are not likely to get there anytime soon with the worse rogues of Oshiomole's Assembly of Past Criminals, APC in office.
chisomkachy: The Economic and Financial Crimes Commission (EFCC) has withdrawn the alleged money laundering suit it filed at the Federal High Court against Lagos Speaker Mudashiru Ajayi Obasa.
Naija News understands that the anti-graft did not give any particular reason for its application for withdrawal.
Following the application to withdraw, Justice Nicholas Oweibo discharged the ‘lien/Post No Debit’ placed on Obasa’s three accounts in Standard Chartered Bank.
The accounts are (US Dollars) 0001852063; (Current) 0001852056 and (Saving) 5002309624.
The judge also set aside the ex-parte orders he made on September 15, 2020, which led to the freezing of the accounts.
Recall that the court on September 15, 2020, granted an interim order freezing Obasa’s accounts following the EFCC’s application in a suit marked FHC/LCS/1064/2020.
The agency had said it was investigating the Speaker for the alleged offences of conspiracy, diversion of funds, abuse of office and money laundering.
But Justice Oweibo, on August 16, 2023, heard the application to unfreeze the accounts in his chamber.
During the hearing, the EFCC was represented by Mr. Sulaiman I. Sulaiman, while Obasa was represented by Mr. Adeyinka Olumide-Fusika (SAN).
The EFCC lawyer told the court that the application to unfreeze the accounts was pursuant to Section 44(2)(K) of the 1999 Constitution (as amended) and Sections 26, 29 and 34 (1) of the EFCC (Establishment) Act, 2004, and under the court’s inherent jurisdiction.
Section 44 of the Constitution concerns constitutional rights to property.
Justice Oweibo held: “It is hereby ordered that an order is hereby granted to the respondent/applicant setting aside the ex-parte orders of this court made on the 15th day of September 2020 upon the ex-parte motion of the Applicant/ Respondent in relation the funds of the Respondent/Applicant domiciled in the accounts stated in the following schedule:
“ACCOUNT NAME, FINANCIAL ACCOUNT INSTITUTIONS, TYPE OF ACCOUNT, 1. Mudasiru Ajayi Obasa, Standard Chartered, (US Dollars) 0001852063 2. Mudasiru Ajayi Obasa, Standard Chartered (Current) 0001852056 3. Mudashiru Ajayi Obasa, Standard Chartered (Saving) 5002309624.
“Issued at Lagos, under the seal of this Honourable Court and by the hands of the Presiding Judge this 16th day of August 2023.”
Racoon: Jamal confirmed that television sets had been distributed but rejected claims that the act amounted to vote buying.
“So if you give television sets to people, what is wrong with it when you give things to people?” he asked, according to local media Joy Online. “Is this the first time I am giving things to people?”
He must be a friend to our president who was also nonchalant about buying votes.
Only God knows when that one will send out ambassadors after almost three years running aimlessly with the power he fought for and garbbed.
‘What’s your headache?’ — Tinubu confirms bullion vans brought cash to Bourdillon on election eve
Bluntemperor: It unfortunately that you are Chewing your words Now because it involves your PDP Sympathetisers,Now LP ,now going to ADC. It Shall turn 🛞 to FAILURES,AT THE END OF THE DAY. You Are Not Straight,at all ,in your Criticism of Tinubu - with hateful stuff, bitterness, falsehoods and manipulation of Facts,just because the man won Elections in 2023! It is because of You and some rasmoborge People/ Obedient -on the Social Media with gaulible audiences,that will not allow decent people to vote Obi. That is the Truth and Facts - so you can take that to the bank!
Are you able and willing to answer the questions, which I am reposting for your ease of reference
Why should he say something about everything when he has been consistent about privatisation of the refineries and other businesses currently being run by government?
APC progreThieves and their communist labour union partners are the ones who should hang their heads on this NNPC refineries mess, for which they are most responsible.
Meanwhile, any idea what APC leaders looters are doing with the trillions of Naira and billions of dollars saved from removing subsidies TWICE since 2015, if they are borrowing more than PDP administrations?
Do you think that they are stealing all the money, because they are worse rogues than the other party
Ancecoker: It is well... Nigeria has never been for everybody
How do you know that Canada or any other japa country has always been for everyone
Is this Stockholm Syndrome rationalisation and excuses for the deprivation of basic government services and public utilities like water in our cities and towns?
Imagine sophisticated Lagosians drinking detty, shitty, disgraceful, smelling water because Tinubu is stealing all the trillions annual budget that should employ well paid workers to ensure water supply to all buildings.
Flangelo12: If you ever expect the price of petrol to crash under any leadership you need a brain fix.
If you don’t expect people to do what they promised, then you are the one who needs an urgent 🧠 fix.
Meanwhile, PDP privatisation and deregulation leaders reduced petrol price during their 16 years of prosperity that Jagaban of Borgu changed to palliative sharing extreme poverty shege in 2015.
How much per litre do you estimate that APC is forcing us to pay them as subsidy for their massive corruption in the oil industry
anonimi: Petrol should never cost more than N70 per litre, says APC
January 19, 2015
The All Progressives Congress (APC) has described as mere tokenism the reduction of petrol price from N97 to N87 per litre, saying the petroleum product ordinarily should sell for N70.
On Sunday, the federal government announced the reduction of petrol price, citing the fall of global crude oil price.
But the APC through Lai Mohammed, its spokesman, on Monday accused the government of making a show out of deceit, saying “a 10.3 per cent slash in the price of petrol was a mere tokenism at a time the price of crude oil has crashed by about 60 per cent”.
It argued that the pump price of a litre of petrol should not be more than 70 Naira, alleging that at N87 per litre, the government was forcing Nigerians to subsidise the massive corruption in the oil sector by N17 for every litre of fuel.
You can ask him why he said he will crash petrol price but has failed to do so in 33 months of hitting the ground running.
Deltafirstson: Although the pump price of fuel was N197 when President Bola Tinubu took over on May 29, 2023, the product now sells for N617 per litre – less than two months after.
In his inaugural address, Tinubu announced that subsidy was gone, fulfilling a promise that all leading presidential candidates made during the campaign.
Nigerians have been lamenting the hardship occasioned by fuel price hike. Amid the lamentation, a video where Tinubu campaigned to slash the price of fuel went into circulation.
Checks by Daily Trust affirmed the authenticity of the video uploaded on the YouTube page of Channels Television.
At his campaign rally in Abeokuta, Ogun State capital, on January 25, 2023, Tinubu spoke on a number of issues, but those of fuel scarcity and naira redesign made the headlines.
However, Tinubu who spoke in Yoruba language, also assured the crowd that though people were saying petrol price would hit N200, it would be reviewed downward under him.
“The great Nigerian youths, the great Nigerian students, the confident Nigerian youths. This is a revolution. This election is a revolution. They are plotting, but they will fail. They said fuel price will increase and reach N200 per litre. Go and relax, we will bring it down,” he had said in the 7th minute of the video.
boxypane: Most are just typing the President is fraudulent, is this, is that... I have witnessed first hand how contractors can be cruel and greedy, witnessed first hand how Nigerians love cutting corners...
Or na Tinubu dey remove Manholes for Abuja and Lagos roads, or destroying rail lines? Or destroying hand rails on bridges or destroying roads because car probably killed their livestock or refuse to go to work early or refuse to carry their duties out diligently? Or encourage their kids into committing fraud.
We are dangerously making bad character part of our cultural system, and when such becomes cultural, it becomes endemic and will take generations to clear.
Do you disagree that Tinubu is the worst rogue in history, who steals to bribe politicians and to buy votes from deliberately impoverished people?
What is he doing with the trillions annual budget of Lagos state if he doesn’t make water available to all buildings and make education free for all children?
What is he doing with the higher revenue from increasing TAX burden on Nigerians, if he is borrowing more than previous administrations, even though he bragged about not borrowing after hitting his revenue target in August?
What happened to the SPV $3.3 billion Afreximbank loan to defend the Naira, secured with future oil revenues, if he has failed to achieve his N300/$1 short term goal?
Do leaders like Tinubu have a greater responsibility to be accountable for public resources than ordinary people
erico2k2: ahahah, We should not politicize everything, I tell you what, the Electricity troubles and the power troubles we have in Nigeria are not solely caused by Politicians rather civil servants are the main culprit but the scream bad government. Look at ordinary Metre that should be installed we already see troubles.
I think what the government needs to do is give an ultimatum to outlaw estimated billings, this is how the workers short-change investors, Have you not heard of how PHCN officials go instigating people for bypass or encouraging them not to have prepaid metres?
What did your own senator and representative say about amending our laws to criminalise estimated billing
Do you also have to ask Obi how many pictures of this incomplete road you can use to buy petrol that is now super expensive unlike the price crash Tinubu promised
Deltafirstson: Although the pump price of fuel was N197 when President Bola Tinubu took over on May 29, 2023, the product now sells for N617 per litre – less than two months after.
In his inaugural address, Tinubu announced that subsidy was gone, fulfilling a promise that all leading presidential candidates made during the campaign.
Nigerians have been lamenting the hardship occasioned by fuel price hike. Amid the lamentation, a video where Tinubu campaigned to slash the price of fuel went into circulation.
Checks by Daily Trust affirmed the authenticity of the video uploaded on the YouTube page of Channels Television.
At his campaign rally in Abeokuta, Ogun State capital, on January 25, 2023, Tinubu spoke on a number of issues, but those of fuel scarcity and naira redesign made the headlines.
However, Tinubu who spoke in Yoruba language, also assured the crowd that though people were saying petrol price would hit N200, it would be reviewed downward under him.
“The great Nigerian youths, the great Nigerian students, the confident Nigerian youths. This is a revolution. This election is a revolution. They are plotting, but they will fail. They said fuel price will increase and reach N200 per litre. Go and relax, we will bring it down,” he had said in the 7th minute of the video.
muykem: Even mad man in the street will not call road construction waste of money?
How is it not a waste of money when there are many dilapidated roads existing that should be maintained for a fraction of the cost of building this new road
StaffofOrayan: All these ones no concern Northerners!,
The Sharia council's problem is Amupitan!
When did Ayédèrú Jagaban of Borgu stop being a northerner?
Was it after he saw the cows 🐄 on his Emilokan way to Aso Rock
Highways: Where Are The Cows? Is Evans A Herdsman?'
When Funke Olakurin, daughter of Afenifere leader, Pa Reuben Fasoranti was murdered instead of Bola Tinubu to make sure that the perpetrators were brought to book, he ended up making fun of the death of the young lady by turning everything into tribalism by showing his hates for Igbos.
Tinubu has never spoken against the deadly activities of Fulani herdsmen across the country
The same stand Adeyinka Grandson gave on the death of Fasoranti's daughter is where Tinubu, the leader of the Yoruba Conservatives stands. Please see Tinubu's video below. pic.twitter.com/COhiSvabqW
— Adeyinka Grandson (@deyinkagrandson) July 14, 2019
Mrs Olakunrin died of gunshot wounds in July 2019 after her vehicle was attacked by armed men, suspected to be marauding Fulani bandits whose violent activities had reached a frightening level across the southwest states.
Those arrested suspects include Lawal Mazaje, 40, from Felele area of Kogi State; Adamu Adamu, 50, from Jada area of Adamawa State; Mohammed Usman, 26, from Illela area of Sokoto State and Auwal Abubakar, 25, from Shinkafi area of Zamfara State....
However, the leader of the team, identified only as Tambaya, and three others are yet to be found.
Tambaya has been declared wanted by the police and he is said to be capable of communicating in Hausa, Fulfude and Pidgin English.
That is the newest low point where APC balablu cluelessness has taken us o.
6.11.2025 FEATURED ‘Tactical Ransom or Negotiation?’ Nigerians Question Tinubu, FG as Kebbi, Kwara Terrorists Go Scot-Free
Since the Nigerian government confirmed that the abducted 38 worshippers in Kwara State and the 24 Kebbi schoolgirls had been freed, many Nigerians have been awaiting updates about the arrest or killing of their abductors.
The silence of the federal and state governments on consequences for the perpetrators has led many to believe that the government likely negotiated with the terrorists and paid ransom to have the abductees released.
FIJ called the spokespersons of the Nigerian Army (NA) and the Nigeria Police Force (NPF) on Wednesday morning, but neither provided answers to questions about the abductors.
Shortly after Kebbi Governor Nasir Idris and Bello Matawalle, Minister of Defence, announced on Tuesday that the 24 students had been freed, the terrorists who abducted the girls released a video, saying the government negotiated with them for the girls’ release.
jmoore: It happened in Afghanistan. They speak Hausa in Afghanistan.
Oga I dey hail o.
See as you sharperly deflate his lame attempt at defending through deflection.
Instead of him to ask Tinubu to beg El Rufai to come and be his Defence Minister, he is here asking about Afghanistan.
Maxymilliano: The presidential candidate of the All Progressives Congress (APC) Asiwaju Bola Ahmed Tinubu has explained why he delegated some members of the party to respond to questions posed to him. According to the former Lagos Governor, he adopted the delegation method “to show team-ship”.
Tinubu spoke at the Chatham House lecture titled: ‘Nigeria’s 2023 elections: In conversation with Bola Ahmed Tinubu’, monitored by The Nation.
At the lecture, Tinubu after his opening remarks, assigned Kaduna Governor Nasir El-Rufai to speak on how his (Tinubu-led) government would address insecurity and asked the Director of Strategic Communication of the All Progressives Congress (APC) Presidential Campaign Council, Dele Aleke, to respond to the question on oil theft.
GloriousGbola: But atiku said nothing when yardua reversed refinery sale Said nothing when Emeka offor's chrome oil did refinery 'Rehabilitation'
No one in pdp or APC past or present should do anything other than hang their heads on this mess
Why should he say something about everything when he has been consistent about privatisation of the refineries and other businesses currently being run by government?
APC progreThieves and their communist labour union partners are the ones who should hang their heads on this NNPC refineries mess, for which they are most responsible.
Meanwhile, any idea what APC leaders looters are doing with the trillions of Naira and billions of dollars saved from removing subsidies TWICE since 2015, if they are borrowing more than PDP administrations?
Do you think that they are stealing all the money, because they are worse rogues than the other party
GloriousGbola: But atiku said nothing when yardua reversed refinery sale Said nothing when Emeka offor's chrome oil did refinery 'Rehabilitation'
No one in pdp or APC past or present should do anything other than hang their heads on this mess
Why should he say something about everything when he has been consistent about privatisation of the refineries and other businesses currently being run by government?
APC progreThieves and their communist labour union partners are the ones who should hang their heads on this NNPC refineries mess, for which they are most responsible.
Meanwhile, any idea what APC leaders looters are doing with the trillions of Naira and billions of dollars saved from removing subsidies TWICE since 2015, if they are borrowing more than PDP administrations?
Do you think that they are stealing all the money, because they are worse rogues than the other party
GloriousGbola: But atiku said nothing when yardua reversed refinery sale Said nothing when Emeka offor's chrome oil did refinery 'Rehabilitation'
No one in pdp or APC past or present should do anything other than hang their heads on this mess
Why should he say something about everything when he has been consistent about privatisation of the refineries and other businesses currently being run by government?
APC progreThieves and their communist labour union partners are the ones who should hang their heads on this NNPC refineries mess, for which they are most responsible.
Meanwhile, any idea what APC leaders looters are doing with the trillions of Naira and billions of dollars saved from removing subsidies TWICE since 2015, if they are borrowing more than PDP administrations?
Do you think that they are stealing all the money, because they are worse rogues than the other party
gabydaniels: Aug 25, 2016 The Vice President, Professor Yemi Osinbajo, has disclosed that the federal government has so far saved the sum of N1.4 trillion for not paying oil subsidy.
He also assured Nigerians that very soon, the foreign exchange market would stabilise going by some radical policies already introduced by the Central Bank of Nigeria (CBN).
The vice president who spoke in Kano yesterday during the third day of the 15th Joint Planning Board and National Council on Development meeting, urged Nigerians to restore confidence in President Muhammadu Buhari’s administration, insisting that soonest, the current economic problems would become a thing of the past.
“With the deregulation of the downstream petroleum sector, there has been a significant increase in the availability of petrol throughout the country for the savings of N1.4 trillion on subsidy payments alone,” he said.
“Also, a more flexible exchange rate regime, we will have to decrease the pressure on the external reserve. In the short run of course, there should be consequences for inflation. We expect that with greater priority we have seen in the implementation of the policy by the CBN, the foreign exchange market will stabilise and confidence will be restored.
Bluntemperor: Alh.Atiku, please 🥺 Rest, for you don't have any Position,as far as Nigeria Parastatals is concerned. *Please,can we know, •how the Privatisation Committee you were in, • Where Are The Companies You Privitised Then and Now ? • How Much Worth Was Each Company and how Much Were they Sold ? and,
• How Much went to the Federal Govt Purse and WHO BENEFITS FROM ALL THESE PRIVATISATION ? Just FACTS AND TRUTH - NIGERIANS wants to know from you and Remember the Obasanjo Book on your Performances, ' MY WATCH'.
How much worth is NNPC refineries with all the reported Turn Around Maintenance (TAM) costs?
How much do you expect the refineries to be sold for
GloriousGbola: But atiku said nothing when yardua reversed refinery sale Said nothing when Emeka offor's chrome oil did refinery 'Rehabilitation'
No one in pdp or APC past or present should do anything other than hang their heads on this mess
Why should he say something about everything when he has been consistent about privatisation of the refineries and other businesses currently being run by government?
APC progreThieves and their communist labour union partners are the ones who should hang their heads on this NNPC refineries mess, for which they are most responsible.
Meanwhile, any idea what APC leaders looters are doing with the trillions of Naira and billions of dollars saved from removing subsidies TWICE since 2015, if they are borrowing more than PDP administrations?
Do you think that they are stealing all the money, because they are worse rogues than the other party
gabydaniels: Aug 25, 2016 The Vice President, Professor Yemi Osinbajo, has disclosed that the federal government has so far saved the sum of N1.4 trillion for not paying oil subsidy.
He also assured Nigerians that very soon, the foreign exchange market would stabilise going by some radical policies already introduced by the Central Bank of Nigeria (CBN).
The vice president who spoke in Kano yesterday during the third day of the 15th Joint Planning Board and National Council on Development meeting, urged Nigerians to restore confidence in President Muhammadu Buhari’s administration, insisting that soonest, the current economic problems would become a thing of the past.
“With the deregulation of the downstream petroleum sector, there has been a significant increase in the availability of petrol throughout the country for the savings of N1.4 trillion on subsidy payments alone,” he said.
“Also, a more flexible exchange rate regime, we will have to decrease the pressure on the external reserve. In the short run of course, there should be consequences for inflation. We expect that with greater priority we have seen in the implementation of the policy by the CBN, the foreign exchange market will stabilise and confidence will be restored.
Antichristian2: What's my business with whatever anyone says?
My business is the reality! Do you have power? And is the network available?
In line with the claims of APC leaders looters, I have power and network is available.
You may wish to note that whatever power and telecom services are available, are thanks to PDP’s prosperity policies of deregulation and privatisation from 1999 to 2015!
Antichristian2: Privatize them like the electricity sector with increased problems!
Where are you seeing increased problems when APC’s Pẹnkẹlẹmẹs minister said 75% Nigerians now have adequate power, which is a confirmation of Fashola’s prediction of 6 months in a deregulated and privatised electricity sector
Chucks13: To sell everything to yourself, your crimina inlaw and your fellow crooks as you did before ba?
If he did any of these things then why has he not been indicted yet, 19 years after leaving office and 11 years after APC corruption fighters took over from PDP
Should you not check yourself and ensure that you are not spreading misinformation fabricated by unpatriotic Nigerians who want to deprive us of the benefits of a private sector led economic growth?
Ti kii bá ṣe wípé ìwọ gangan ni eleribu, confirm that Atiku has not been consistently advocating for the privatisation of NNPC refineries, given how its petrochemicals division was successfully privatised two decades ago
anonimi: How Indorama sustains manufacturers, boosts Nigeria’s FX earnings
Indorama Eleme Petrochemicals Limited (IEPL) has emerged as a major value creator in the Nigerian economy. It is responsible for the survival, growth and sustenance of many manufacturing companies in Nigeria today. A large number of plastic and allied firms depend on the Eleme-based company for petrochemical resins (or polymer resins) which serve as their raw materials.
The petrochemical company is just one of the several subsidiaries of Indorama-Nigeria Group, which also comprises Indorama Eleme Fertilizer & Chemicals Limited (IEFCL), Indorama PET Nigeria Limited, and Indorama Port Operations.
Since Indorama Corporation of Indonesia became core investor in the old Eleme Petrochemicals Company Limited (EPCL) in 2006 through privatisation programme of the Federal Government, the group has become a game changer in the Nigerian economy.
The petrochemical company has solved the major challenge facing a number of manufacturers— poor access to raw materials. Rather than scramble for foreign exchange to import inputs, the company ensures that manufacturers have access to their critical raw materials, enabling them to save costs and improve margins.
The major resins used by plastic and allied companies are polyethylene and polypropylene. Indorama produces about 45 grades of these products for various industries. About 600 of such companies in Nigeria depend on IEPL for their survival. They are estimated to have over 90,000 workers.
anonimi: Ratio of public to private schools in Lagos State is one to 22 ― Commissioner September 4, 2022
The Lagos State government has said the ratio of public to private schools at both primary and secondary school levels in the state is one to 22.
The state’s Commissioner for Education, Mrs Folasade Adefisayo, gave the revelation in her remark at the 2022 edition of the Total School Support Seminar Exhibition (TOSSE) held at Oregun in Ikeja between Thursday and Friday.
Foreign Affairs › Re: Top 25 Countries Debt To International Monetary Fund by anonimi: 7:01pm On Feb 09
