Oga wizard and witch, why don't you know when to stop digging into a futile hole of misinformation
WizardOfNG: Johnson isn't a typical politician. He is a maverick with a touch of eccentricity.
This is why he departs from what most leaders would do to declare he feels safe in Nigeria. Even if he knows parts of Nigeria he visits aren't entirely safe he'd still be complementary.
It's his way of encouraging Nigerians to feel positive about themselves and nation whereas Trump, for example, would call us "shithole nation".
I have shown you that the highlighted part of your comment is not a reflection of the maverick and eccentric posturing of your Boris.
walozanga: A senior anti-corruption adviser to Nigerian president Muhammadu Buhari today issued a stinging rebuke to Boris Johnson’s claim that Britain is “not remotely a corrupt country” – saying the UK is in fact a major enabler of looted funds from his own country.
Professor Sadiq Isah Radda, who is the executive secretary of the Presidential Advisory Committee Against Corruption in Nigeria, told the British Prime Minister that London was actually “the most notorious safe haven for looted funds in the world today”.
Is the joke not on Professor Raddarada as well as those who quote him to demonstrate their own Stalinist Stockholm syndrome affliction
socialmediaman: The 2018 Rating by Transparency International placed Nigeria at 148th position out of 180 countries. Nigeria was improving over the years under the previous government, until Buhari got elected as president, things became worse.
There is a difference between fact and fiction. We need to face facts, Buhari is worse than GEJ when it comes to fighting corruption, at least that’s what the facts prove.
Most of us believed there was corruption under Goodluck Jonathan’s Government. I agree with those who did, there was corruption, but not as bad as it is today under Mohammadu Buhari.
In 2012, Nigeria was placed at 139th position, In 2014, Nigeria gained 3 steps and was placed at 136th position. Under Buhari, Nigeria has lost many positions down to 148th.
There’s no further proof needed that corruption has worsened under Buhari’s government compared to previous years.
thewinning101: PANDORA PAPERS: Buhari visited Tinubu in corruption-tainted London villa acquired by Oyetola
Governor Oyetola, a relative of Mr Tinubu, may have sabotaged his own country by buying the exotic property as Nigeria made to seize it.
ByNicholas IbekweandTaiwo-Hassan Adebayo October 7, 2021 in Headline Stories, Pandora Papers Reading Time: 8 mins read
It was a meeting of two of Nigeria’s most influential politicians in London – President Muhammadu Buhari was visiting political kingmaker and senior member of his ruling All Progressives Congress (APC), Bola Tinubu.
In July, the presidency announced that Mr Buhari was heading to London for an education summit. The office also added that the president would also see his doctors for “medical check-up”.
Coincidentally, Mr Tinubu, who had travelled to London earlier, was also receiving treatment for an undisclosed ailment in the British capital. So, a perfect setting for both men to meet was created.
WizardOfNG: Johnson isn't a typical politician. He is a maverick with a touch of eccentricity.
This is why he departs from what most leaders would do to declare he feels safe in Nigeria. Even if he knows parts of Nigeria he visits aren't entirely safe he'd still be complementary.
It's his way of encouraging Nigerians to feel positive about themselves and nation whereas Trump, for example, would call us "shithole nation".
Isn't it time for you to drop your wizard moniker and replace it with something more appropriate
Putin views, queen stories and a boss’s birthday bash: Boris Johnson’s £5m worth of paid speeches
Leaked files show former PM made 34 paid appearances in less than two years and reveal details of his disclosures
Boris Johnson earned more than £5m from less than two years of paid speeches after standing down as prime minister, leaked files suggest.
Transcripts and itineraries demonstrate the globe-trotting nature of the former prime minister’s new life as a public speaker. He made 34 paid appearances between leaving office in September 2022 and May 2024, according to a file in the leak.
He spoke at a conference on leadership in Delhi, a blockchain symposium in Singapore, in a public lecture series in Lagos and at a summit on green hydrogen in Abu Dhabi. Each earned Johnson $350,000 (£259,000).
Some of the speeches were delivered in public or have previously been reported on. Others, such as the former prime minister’s bizarre turn as the headline act at the 50th birthday party of a German pharmaceutical company boss, have not.
SmartPolician: Imo State governors know how to bring big names to the state. At the end of their tenure, they don't leave any meaningful projects behind.
Hope Uzodinma wasted an entire tenure living in Abuja. 2 years to end of 8 years, he wakes up from his slumber and started a project marathon.
This was how Rochas kept inviting big names, including President Zuma of South Africa. He would litre the state with inferior projects, most of which have collapsed now.
Misplaced priorities in spending money to invite the big names instead of making the state big with basic government services and public utilities provided by well paid workers
OdogwuAnambra: Dangote isn't from southern Nigeria but he made his money and lobes in southern Nigeria ...doesn't that tell you a lot about your region ?
Even in the next 100 yrs, southern Nigeria would be more advanced than North... With this mentality!
In 100 years, you say
The south that is quickly catching up with the north in the mentality of school na scam, because leaders looters like Tinubu and Wike prefer to steal money that should employ teachers and pay them well in a prompt manner, to ensure every child is educated free
Abi education is not the foundation and the cornerstone of sustainable development?
anonimi: Nigeria: Pensioners Urge Tinubu to Pay Arrears
26 March 2003 This Day (Lagos)
Lagos — Pension teachers in Lagos State under the aegis of Teacher Pensioners of Nigeria (TEPAN) have urged Governor Bola Ahmed Tinubu, to review his stance on paying the harmonised three year old outstanding pension allowance or risk losing their votes.
In a statement signed by the Public Relations Officer (PRO) of TEPAN, Mr. Ayodabo 'Lade, accused Tinubu of failing to pay the arrears to teachers on their correct pension grade since the year 2000, contrary to what was obtainable in other five States of the South-west controlled by the Alliance for Democracy (AD).
anonimi: FCT Teacher’s Strike: The unfolding crisis that has kept Abuja’s children out of school for months
The industrial action is the third in a series since late 2024.
ByQosim SuleimanandZainab Adewale July 2, 2025 Reading Time: 4 mins read For over three months, public primary school pupils in the Federal Capital Territory (FCT) have been out of the classroom due to a teachers’ strike.
The industrial action has seen multiple suspensions and resumptions and is the third since late 2024.
OdogwuAnambra: Money that would be used to encourage start-ups
That's why southern Nigeria would always lead these guys up north in all human indices
Is Dangote from southern Nigeria?
What of BUA’s Rabiu, is he also from southern Nigeria
Any chance you can stop leading us in tribalism?
edet19892015: Unless you understand your role in society, you can never make any meaningful contribution.
According to the Greeks, they are three types of people on Earth, 1. The idiots, 2. The tribesmen, and 3. The citizens.
Studies show only 10% of Africans are citizens. The remaining 90% are either tribesmen or idiots.
1. When the Greeks used the word "Idiot", they did not use it as a curse word. Idiots are people who just don’t care. If they sit for exams, they will cheat. If they are in government they will steal.
An idiot does not care at all, if he eats bananas he throws the peels anywhere instead of putting them in a trash bin.
IDIOTS won't attend monthly neighborhood meetings. They won't pay security dues. They won't contribute to community development. Even when they see or know about something that will harm others in the community they won't report it. When they see/know/have something that will benefit their community they won't share.
In fact, Idiots don't care to register for or vote in an election, yet they complain the most. If they register to vote, IDIOTS will sell their votes for peanuts.
According to the Greeks, some societies have more idiots than tribesmen and citizens.
2. The next set of people are "Tribesmen", these are people that look at everything from the point of view of their tribe.
These are people that believe in you only if you are part of their tribe. It can be terrible to have a tribesman as a leader, he will alienate the rest.
When the Greeks talk about tribes, it’s not just about ethnicity, they also consider religion, gang membership, group membership, party membership and even cult membership as a tribe.
A great percentage of Africans are tribesmen, because they view everything from the point of view of their tribes. They trust only their tribesmen
3. The last group are "Citizens". These are people who like to do things the right way. They will respect traffic light rules even if no one is watching them.
They drive within speed limits. They respect the laws, and won’t cheat in exams. In government, they won’t steal. They are compassionate and give to others to promote their well-being.
Citizens often promote projects that benefit everyone. The Greeks called this group "The Citizens".
Some countries have more citizens than tribesmen and idiots, others have so many idiots.
A tribesman can become a citizen through orientation. And an idiot can become a citizen by training and constant enforcement of the law.
But things fall apart if you elect an idiot or tribesman to lead you if he has not been reformed.
Where do you belong? Are you an idiot, a tribesman or a citizen? Reflect on your life. Reflect about your immediate community, city, state and nation.
Christmyhope: This is what religion does to anyone, it makes one always acts dumb.
Can you please elaborate on how religion made Tinubu and ACN leaders looters act dumb below
anonimi: How we foiled Jonathan’s effort to make Mulika Adeola Speaker, Akande reveals
AS president in 2011, Goodluck Jonathan did all he could to ensure South West grabbed the country’s number four seat, including lobbying then opposition leaders from the zone, to no avail. The North West eventually grabbed the seat, supported by South West leaders in opposition to then ruling party, the Peoples Democratic Party (PDP).
Former Governor of Osun State and now statesman, Chief Bisi Akande, made this revelation in his autobiography, “My Participations” which is currently dominating political and national dis- course.
Aminu Tambuwal, now Sokoto State governor, won the seat, against the preferred pick of his party, Mrs Mulikat Adeola Akande, from the South-West. Defunct Action Congress of Nigeria, then a fledging opposition, which had Akande and his soulmate, former Lagos State governor, Senator Bola Tinubu, as front- line leaders, openly asked its elected members of the House of Representatives, mostly from the South-West, to work against their region and back Tambuwal from North-West.
The opposition party’s support carried Tambuwal through the contest against Akande, then ruling party’s favourite for the speakership seat.
In his book, Chief Akande revealed that former president then as incumbent, personally reached out to Tinubu, who is now believed to be nursing presidential aspiration in 2023 and himself, but couldn’t convince them.
He wrote, “President Jonathan, immediately after the meeting (with political parties), called Bola Tinubu aside into a lobby to broach the matter of ACN support for a choice of who would become the Speaker of the House of Representatives.
“That same day, President Jonathan talked to me on phone about the same matter. He disclosed that PDP had zoned the position to the South-West but that only one Muraina and another Mulika won elections on PDP ticket from the zone into the House of Representatives.
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.
Orlandoo: Just because Trump coughed and they suddenly remembered why they rigged themselves in as leaders.
Why did you and other Nigerians allow your fellow humans to rig themselves in as your leaders looters in the local, state and federal elections for legislative and executive branch positions?
anonimi: “The worst illiterate is the political illiterate, he doesn’t hear, doesn’t speak, nor participates in the political events.
He doesn’t know the cost of life, the price of the bean, of the fish, of the flour, of the rent, of the shoes and of the medicine, all depends on political decisions. The political illiterate is so stupid that he is proud and swells his chest saying that he hates politics.
The slowpoke doesn’t know that, from his political ignorance is born the prostitute, the abandoned child, and the worst thieves of all, the bad politician, corrupted and flunky of the national and multinational companies.”
― Bertolt Brecht
>> >>>>
Why are you not ashamed of yourself for allowing such to happen
Racoon: The ranking placed Nigeria in 186th position, only after Haiti, among 187 countries of the world. Nigeria is the second country in the world with the lowest voter turnout, worse than war-ravaged Afghanistan and Libya, a new ranking by Picodi has shown.
The ranking placed Nigeria in 186th position, only after Haiti, among 187 countries of the world. Nigeria also ranked worst in Africa. Nigeria’s low voter turnout
PREMIUM TIMES had reported how Nigeria recorded a new low in voter turnout during the last general elections. With a national turnout of 29 per cent, a Premium Times analysis showed that the last election had the lowest participation rate in the country’s six decades of independence.
It further revealed that of the 93.4 million registered voters this year, 87.2 million people collected their Permanent Voters Card and the total number of actual voters on election day was only 24.9 million..The winner of the election, Bola Tinubu, had less than nine million votes, roughly 10 per cent of the total eligible voters.
Another analysis by this newspaper revealed that all the 18 candidates in Nigeria’s February elections received only 27.55 per cent of the total eligible votes.
NwokoloOwa: Bishop Kukah is there for several relationships with General Musa: 1. They are both from southern Kaduna 2. General Musa is a Catholic and as he once said, his Catholic faith had a strong influence in his life. Of course Bishop Kukah is a Catholic bishop. 3. General Musa was born in Sokoto and maintains strong ties with Sokoto up till this moment. Bishop Kukah serves as Bishop of the Sokoto Diocese.
You omitted the most important aspect.
4. Bishop Kukah was there as a partisan APC and Tinubu apologist, who denies Christian genocide that he complained about when Buhari was president.
May Day: Hunger, unemployment, insecurity real— Tinubu
According to him: “The theme demands our collective attention and serves as a stark reminder of the need to create an environment where every worker feels safe, valued, and empowered to contribute to the growth and prosperity of our nation. As your President, I assure you that this administration is committed to creating such an environment for the common good.”
On the economic hardship, he noted that while it is a global phenomenon, its effects on Nigerians are particularly severe.
Tinubu said: “I am aware of the peculiarities of the economic hardship Nigerians face—rising living costs, hunger, insecurity, unemployment, and the loss of livelihoods. These challenges are real and demand definitive solutions, which I am poised to address as your President.
Orlandoo: That man so much believe in his marabout and his looted dollars.
Imagine contesting for president since 1993?
Since Obasanjo begged Atiku to forego his 1999 election as Adamawa governor, in order to be his running mate, has he been in charge of any % of the federal allocation of 53% to the president alone, and the 27% shared by all the 36 states
Don’t you think that Tinubu has looted more dollars from the trillions annual budget of Lagos State, which is not used to pay enough workers to provide water to all households
Cromagnon: E no sure Shebi e don do VP bfor and e no work
He simply went viral when he left pdp and took some votes from atiku and Tinubu Just look at the voting numbers in 2019 and in 2024
In 2019, was Tinubu on the ballot for APC
Do you know Nigerian tribal politics better than the Anambra state governor?
newsbook: Anambra State governor, Chief Willie Obiano has re-echoed his allegation that his predecessor, Mr Peter Obi demanded the sum of N7.5billion from him for sponsoring his election in 2013.
Obiano and his predecessor, Obi have had a frosty relationship shortly after his swearing in.
Obi has however denied that he demanded for the sum of N7.5billion from Obiano, saying that his problem with him was his (Obiano’s) underperformance.
Obi said if he needed the said sum, he would have simply taken it from the N75billion he left for the Obiano administration at the end of his tenure.
But Governor Obiano while speaking on Wednesday evening at Ezechima Primary School, Onitsha where he inaugurated his reelection campaigns in Onitsha North Council Area, said the clarification became necessary because of the recent accusations against him by the former Governor.
He stated that his predecessor had demanded the sum of N7.5billion from him as funds spent in prosecuting the election on his behalf, but that he refused to pay the money because it was not true.
Obiano said he refused to pay because he strongly believed that public funds should be used for public good, and not to settle godfathers.
These, he said, was the reason they fell apart.
The governor said that another reason he refused to pay the money was because he was aware that enough money was raised for his campaign by his friends and associates, all of which were never accounted for by the former governor.
On the actual sum the former Governor claimed he left behind, Governor Obiano made it clear that he inherited liability of about N127 billion debt from him in contracts awarded and other responsibilities, which he has been religiously undertaking in the spirit of continuity.
He said Obi flagged off several roads even on the day he was leaving office and saddled him with the burden of paying for it, but he assured the people that he has his eyes on the ball and will not allow anything to distract him from fulfilling his promises.
The Chairman of the Governor’s Re-election Campaign Committee, Chief Victor Umeh said APGA as the political spirit of Ndigbo, has in the past three and half years, availed Anambra good governance at its best, reminding the people that the upcoming guber election was not about Willie Obiano but about ensuring that the state remained free from political godfatherism.
A former Central Bank Governor, Professor Chukwuma Soludo in his speech said that at this time, the State needs a tested hand like Governor Obiano who has the experience and expertise to effectively steer her affairs.
How is it the business of Bọbọ Chicago to ruin the deregulation and privatisation prosperity we had for 16 years under PDP capitalists, which has been extreme poverty shege since 2015?
2015 was the year that Tinubu made Buhari president, four years after calling him expired.
Phred1717: Brilliant Bill if Only those dullards know the Worth of the bill.
Because the only thing they know is embezzlement and syphoning of public funds
If embezzlement and siphoning of funds is not the only thing that 200 million Nigerians know then how can we allow only these type of people to emerge as leaders looters from among us
The better one would be to lead by example, for teachers and other government workers to earn like American teachers and other government workers in comparison with their senators.
Don’t you agree
Any idea why we blacks don’t want our countries to be like Chicago and other American cities in basic services and utilities, but we are quick to compare ourselves with America in the exploitation of the masses through increasing tax burden? Why do we do this selective comparison
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.
Emotionss: This right here is one the problem of Nigeria.. As long as a relative or family member is part of those eating the national cake then all is well irrespective of their personalities or characters
is that the human sub specie described as tribesmen by the Greeks
edet19892015: Unless you understand your role in society, you can never make any meaningful contribution.
According to the Greeks, they are three types of people on Earth, 1. The idiots, 2. The tribesmen, and 3. The citizens.
Studies show only 10% of Africans are citizens. The remaining 90% are either tribesmen or idiots.
1. When the Greeks used the word "Idiot", they did not use it as a curse word. Idiots are people who just don’t care. If they sit for exams, they will cheat. If they are in government they will steal.
An idiot does not care at all, if he eats bananas he throws the peels anywhere instead of putting them in a trash bin.
IDIOTS won't attend monthly neighborhood meetings. They won't pay security dues. They won't contribute to community development. Even when they see or know about something that will harm others in the community they won't report it. When they see/know/have something that will benefit their community they won't share.
In fact, Idiots don't care to register for or vote in an election, yet they complain the most. If they register to vote, IDIOTS will sell their votes for peanuts.
According to the Greeks, some societies have more idiots than tribesmen and citizens.
2. The next set of people are "Tribesmen", these are people that look at everything from the point of view of their tribe.
These are people that believe in you only if you are part of their tribe. It can be terrible to have a tribesman as a leader, he will alienate the rest.
When the Greeks talk about tribes, it’s not just about ethnicity, they also consider religion, gang membership, group membership, party membership and even cult membership as a tribe.
A great percentage of Africans are tribesmen, because they view everything from the point of view of their tribes. They trust only their tribesmen
3. The last group are "Citizens". These are people who like to do things the right way. They will respect traffic light rules even if no one is watching them.
They drive within speed limits. They respect the laws, and won’t cheat in exams. In government, they won’t steal. They are compassionate and give to others to promote their well-being.
Citizens often promote projects that benefit everyone. The Greeks called this group "The Citizens".
Some countries have more citizens than tribesmen and idiots, others have so many idiots.
A tribesman can become a citizen through orientation. And an idiot can become a citizen by training and constant enforcement of the law.
But things fall apart if you elect an idiot or tribesman to lead you if he has not been reformed.
Where do you belong? Are you an idiot, a tribesman or a citizen? Reflect on your life. Reflect about your immediate community, city, state and nation.
See importer and payer of Fulani millitia in Nigeria talking about shame?
First deal with your shamelessness and wicked life then come here to talk.
What does Tinubu know about insecurity and El Rufai that you are yet to figure out
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.
Prospect of a possible alliance between the Action Congress of Nigeria, ACN and Congress for Progressive Change, CPC, was dashed yesterday in Kano as the leader of the party and former governor of Lagos State, Asiwaju Ahmed Bola Tinubu described CPC as parading “expired leadership.”
Tinubu told ACN supporters in Kano during the party’s Presidential rally that: “What Nigerians need now is a transformation in leadership” as obtained in the advanced economy.
The two-term Governor of Lagos State explained that the leadership of ACN was offering Nigeria the brilliance of Nuhu Ribadu who, he said, is in the class of Nicolas Sarkozi of France, David Cameron of Britain, Medvedev of Russia and Barack Obama of the United States of America.
“What has CPC got to offer? We certainly don’t need expired leadership as we are offering the best in terms of brilliance, courage and patriotism in the class of Sarkozi of France, David Cameron of Britain and Barack Obama of the USA.”
Tinubu’s position came on the heels of Ribadu’s declaration penultimate week in Kaduna when he hinted during a political rally of a joint ticket between the two opposition parties to confront the dominance of the Peoples Democratic Party, PDP.
The national leader of ACN criticised President Goodluck Jonathan for shying away from the national debate held last Friday, stressing that”that singular act exposed Jonathan as a coward who has nothing to offer.”
Emergingnation: Flashback: How Bola Tinubu spoke highly of Buhari in 2015, named PDP ‘Poverty Development Party
National leader of the ruling All Progressives Congress, APC, Bola Tinubu had during the presidential campaign in 2015, referred to President Muhammadu Buhari as the only solution for the security and economic challenges facing Nigeria.
During a mega presidential rally, the former governor of Lagos State recalled how some powerful nations in the world returned to army generals when they were challenged, saying “Major General Buhari would revive Nigeria’s economy”.
He named the current opposition People’s Democratic Party, PDP as the “Poverty Development Party saying they had nothing to offer.
His words at the time were; “Every nation has a period of their own challenges, when America was challenged, they turned to one great man, their ex-military general, General Eisenhower. When the French were challenged, they turned to their general, Charles de Gaulle.
“When Britain was challenged, they turned to their general. Today, Nigeria is economically and physically challenged so we turn to General Muhammadu Buhari. He is the right man for the job. If you talk about military experience, he has it abundantly, he has courage, simplicity, he has it abundantly.
“If you talk about great determination, a combination of vision and ability to perform, honesty and integrity, he has it abundantly.
“I laugh when the incapable government, ‘Poverty Development Party’ PDP were talking. They have nothing again to say, they now want to question the qualifications of General Buhari and look for his certificate”.
Following the manifestos in 2015 which projected the APC presidential candidate as a ‘saviour’, Buhari defeated the then incumbent president, Goodluck Ebele Jonathan with Nigerians expecting a total change in security and economy.
Sheuns: Exchange rate at 1512naira to a dollar, yet agbadorians have been celebrating 1300 to a dollar in 2025
Tinubu has failed to deliver any of his campaign promises, resulting in hyperinflation, unemployment and worsening insecurity.
Not only did the APC leader looter promise N300/$1 in the short term, he borrowed money specifically to defend the Naira.
ijustdey: Nigeria will pay an interest of 11.85 percent per annum on the $3.3 billion “pre-export finance facility” (PxF) facilitated by the Nigerian National Petroleum Company (NNPC) Ltd and arranged by Afrexim Bank, TheCable can report.
Until now, the fine details of the transaction, which has a five-year tenor, had been withheld by all parties involved.
A similar cocoa-backed $800 million facility arranged for Ghana by its cocoa marketing board attracts an interest of 8 percent per annum.
Bilateral lenders, such as the International Monetary Fund (IMF), would typically charge 1-3 percent with a longer tenor.
In the details seen by TheCable, Nigeria pledged a total of 164.25 million barrels of crude oil — at 90,000 barrels per day — starting from 2024 to repay the loan through Project Gazelle Funding Ltd, an “orphan” special purpose vehicle (SPV) incorporated in Bahamas for the PxF.
Effectively, the NNPC has pledged 38.58 percent of five years’ worth of tax and royalty oil to secure the loan.
Nigeria pledges over $12 billion worth of oil At the beginning of 2024, a barrel of Nigerian oil was sold at the international market at $77.93 per barrel, according to the Central Bank of Nigeria (CBN) data.
At $77.93 per barrel, the 164.25 million barrels of oil pledged by Nigeria equals $12.8 billion — about three times more than the facility taken.
Pre-2014, the national oil company used to remit an average of $3 billion from oil sales every month.
Officially, Project Gazelle Funding Ltd (PGFL) is the borrower while the NNPC is the “sponsor” and will pay with oil to the SPV to liquidate the loan.
To make the repayment, the NNPC will forward-sell 90,000 barrels per day of Nigeria’s share of offshore crude oil under the production sharing contract (PSCs) with the oil companies.
Under PSCs, the companies usually pay royalties and taxes by giving the oil equivalent to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Federal Inland Revenue Service (FIRS) respectively.
The NNPC in turn exports the oil on behalf of NUPRC and FIRS and remits the proceeds to the agencies.
This is part of the revenues paid into the federation account and shared by the three tiers of government.
But under the PxF, the revenue from 90,000 barrels per day will be used to service the loan in the next five years.
The loan arrangers will get a commission of $66 million or 2% of the facility, TheCable further learnt.
Nigeria will pay 2 percent penalty per annum in the event of a default.
‘DOLLAR LIQUIDITY TO STABILISE THE NAIRA’
The national oil company announced in August 2023 that the PxF was to support the federal government “in its ongoing fiscal and monetary policy reforms aimed at stabilizing the exchange rate market”, describing it as “a relief for the naira”.
It called the facility “crude oil repayment” with an upfront cash loan “against proceeds from a limited amount of future crude oil production”.
At the time, the dollar exchanged for an average of N775 in the official market and N885 on the streets.
The rates have now moved to N1,035/$ (official) and N1,230/$ (parallel).
Nigeria’s outstanding forex liabilities are currently thought to be over $7 billion.
In an explainer after announcing the PxF last year, the NNPC said its exposure is very limited, “covering just a fraction” of their entitlements and that “there are no sovereign guarantees tied to it”.
It said it “will also equip the Federal Government with the necessary dollar liquidity to stabilize the Naira, with limited risk”.
A strengthened naira as a result of the initiative, it said, “will lead to a reduction in fuel costs. This means that if the Naira appreciates in value, the cost of fuel will drop and further increases will be halted”.
It also ruled out subsidies, maintaining that a stronger naira “will result in lower prices from the current level, making subsidies unnecessary. The deregulation policy remains unchanged”.
Critics questioned NNPC’s involvement in getting loans to boost forex reserves when it should be concentrating its efforts on bringing in more oil revenues.
There were also questions over the decision to pledge the tax and royalty oil belonging to the entire federation to secure the loan.
Analysts also queried why the details of the deal were never made public.
anonimi: World Bank offers Nigeria forex rate advice, as Tinubu eyes N200/Dollar rate
April 23, 2023
The President-elect said he would work with the Central Bank of Nigeria (CBN) to *bring down the exchange rate to N200 in his first term.*
“My administration will collaborate with the Central Bank to harmonize the fiscal and monetary policy to achieve immediate stabilization of the value of the naira against the US dollars and other currencies and in the short term, strengthen the naira by boosting the supply of foreign currency and moderating demand.
“The short-term goal is to achieve a naira/dollar rate of 300 naira/US$ and gradually achieve a less than 200 naira rate over the next four years, Tinubu stated.
Muhammadu Buhari, presidential candidate of the All Progressives Congress (APC), has promised to ensure that the naira would be equal to the dollar in value if voted into office.
NAN reports that Buhari said this on Monday during the south-east presidential rally of the party at Dan Anyiam Stadium, Owerri.
“It is sad that the value of the naira has dropped to more than N230 to one dollar. This does not speak well for the nation’s economy,” he said.
He urged the people to vote for APC, noting that he would ensure that corruption was tackled headlong if elected.
Before you say that this one scholarship is good, should you not find out if Delta State is better or worse than Tinubu’s TAX monster plan for Lagos State, that has less than 5% public primary schools, vocational and secondary schools
How can our country be good if governors are stealing money that should employ teachers to make basic education free for all children? How can?
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.
May Day: Hunger, unemployment, insecurity real— Tinubu
According to him: “The theme demands our collective attention and serves as a stark reminder of the need to create an environment where every worker feels safe, valued, and empowered to contribute to the growth and prosperity of our nation. As your President, I assure you that this administration is committed to creating such an environment for the common good.”
On the economic hardship, he noted that while it is a global phenomenon, its effects on Nigerians are particularly severe.
Tinubu said: “I am aware of the peculiarities of the economic hardship Nigerians face—rising living costs, hunger, insecurity, unemployment, and the loss of livelihoods. These challenges are real and demand definitive solutions, which I am poised to address as your President.
Why omit the RED of humongous growth in debt that is more than the concocted green statistics above?
If the economy is green with these APC progreThief numbers, then what colour was the economy when deregulation and privatisation PDP capitalists gave us 16 years of widespread prosperity
thisweekng: The Minister of Finance and Coordinating Minister of the Economy Chief Olawale Edun has said the last time Nigeria’s economy looked stable was about a decade ago.
He made this statement during his maiden press conference as Minister of Finance where he outlined President Bola Tinubu’s vision, agenda and strategy for the economy.
He said, “I think as we all know, we are not where we should be. The economy is barely growing above the rate of population growth.
“But it was not always so, and I think in trying to look at the way forward, if we now have a situation of slow growth, double-digit inflation, weak/depreciating exchange rate, as well as security concerns that are resulting in an economy that is not growing and not taking Nigerians out of poverty.
“If we think back to the last time when the economy was stable- when it was growing, when inflation was low, and the interest rate was affordable, that period was about a decade ago. Growth was about 6% in 2013 and 2014.” Private sector to drive the economy
Who should we blame for the increased tax burden on Nigerians, that is looted and used to bribe politicians for Tinubu and APC's chokehold on power as he has been doing in Lagos since 1999, through deliberate impoverishment for Stalinist Stockholm syndrome affliction
NaijaRoyalty: …Says Buhari doesn’t have my kind of money
However, Buhari doesn’t have the kind of money I can steal neither does he have the money I can collect. He doesn’t even have the money for Lagos votes. So, whatever I promise, it’s for real and is coming from my pocket. It’s not until I go to Alausa before I get money to give you.”
Addressing APC supporters on the need to deliver votes, Tinubu said handsome cash rewards await those who can deliver votes for the party.
He said he would not make mistakes of the past where people would collect money in advance and not deliver on election day.
Tinubu added, “Those of you that say you come to Bourdillon for mobilisation, it is mobilisation that we are doing here or don’t you understand? Definitely, if you know people in your neighbourhood, our members, how we used to do.
anonimi: The eyesore on Bourdillon Road 2nd January 2025
Beyond his neighbours, there is something about the sight of people hanging around a president’s residence that does not speak well of his leadership capabilities. Maybe no one has nudged him to see it, but the impression that spectacle on Bourdillon Road generates is that Tinubu enjoys the sight of suffering humans and thrives in—and through— their poverty.
If all these years, impoverished people hang around you and you remain comfortable enough to keep them just so they can be handed tokens of your large heart, then it means you have a pro-poverty mindset. Such a frame of mind is oriented toward cultivating poverty rather than stimulating abundance.
That is why he could unproblematically relate the story of his “friend” who went from using five Rolls Royce to a far-less valued car and not consider the import of the nonsense he was saying. That spurious account was an indication that this is a man for whom poverty—of others, not himself—is an ideal.
Why is it more of a concern in our countrry since Tinubu made his expired Buhari president by packaging him as APC messiah instead of the extreme poverty shege master that he is.
Why did we replace PDP deregulation and privatisation capitalist prosperity with these palliative sharing progreThieves of APC
Nemere2020: The Minister of Finance and Coordinating Minister of the Economy Chief Olawale Edun has said the last time Nigeria’s economy looked stable was about a decade ago.
He made this statement during his maiden press conference as Minister of Finance where he outlined President Bola Tinubu’s vision, agenda and strategy for the economy.
He said, “I think as we all know, we are not where we should be. The economy is barely growing above the rate of population growth.
“But it was not always so, and I think in trying to look at the way forward, if we now have a situation of slow growth, double-digit inflation, weak/depreciating exchange rate, as well as security concerns that are resulting in an economy that is not growing and not taking Nigerians out of poverty.
“If we think back to the last time when the economy was stable- when it was growing, when inflation was low, and the interest rate was affordable, that period was about a decade ago. Growth was about 6% in 2013 and 2014.”
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.
You really know what's gwan with the land grabbing FCT ologogoro.
anonimi: Wike lobbied PDP committee to be Atiku’s running mate – Ex-gov’ship aspirant
Thu, 29 Sep 2022 14:33:04 WAT
Muazu Magaji, a former governorship aspirant of the Peoples Democratic Party in Kano State, has alleged that the Governor of Rivers State, Nyesom Wike, lobbied members of the party’s committee constituted to advise the presidential candidate, Atiku Abubakar, on the choice of his running mate.
Magaji disclosed this while speaking on Channels TV’s Sunrise Daily, on Thursday.
The Kano politician also argued that there was no proof that Atiku promised Wike the vice president position as claimed.
The PDP committee had recommended the Governor of Delta State, Ifeanyi Okowa; Governor of Akwa Ibom State, Udom Emmanuel and Wike.
The committee, however, scored Wike above the other two contenders but Atiku decided to settle for Okowa. A decision that has since unsettled Wike’s camp.
Magaji, however, claimed that Wike lobbied to be scored ahead of others, adding that the Rivers State governor should not be trusted with important positions in the country.
2023: PDP and politics of healing Wike’s self-inflicted injury
Then, the race began in earnest for three years now, reaching a frenzy with the works of the two PDP committees on zoning. The first was the Gov Ifeanyi Ugwuanyi committee on the zoning of the PDP party offices. The Ugwuanyi committee quickly told the world the committee’s assignment did not cover zoning the office of the president. Though this was true, the question is: why didn’t the Ugwuanyi committee zone the PDP chairmanship to the North without aligning it to the divide that would produce the PDP presidential flag-bearer? The second committee headed by Gov Samuel Ortom of Benue state was specifically on the zoning of the presidential ticket and, with the votes of the representatives of all the 17 Southern states without any exception, the Committee unanimously recommended throwing open the PDP presidential ticket, which the PDP NEC simply upheld.
One thing irrefutably stands out – Wike shot himself in the leg. Here was a man who had an overarching influence on both committees but could not insist that the ticket be zoned South. Many had wondered why? The reason is also relatively in plain sight: the Southeast factor. As the clamour for zoning of the presidential ticket of the PDP to South reached its crescendo, many had pointed out the fact that though the PDP Constitution had prescribed zoning of the office of the president to be between North and South since the South-west and South-south had taken their turns in producing the president and the vice in this current dispensation in the persons of Olusegun Obasanjo and Goodluck Jonathan, zoning this time around, should not just be to the South but the Southeast.
Atiku Abubakar went a step further by offering to step down from the race if it would be agreed that the touted zoning to the South would mean micro-zoning to the Southeast. Wike and the rest could not take the Atiku challenge maybe because Atiku would likely back Peter Obi, who was his vice-presidential running mate in 2019 and an ally. The prospects of Peter Obi picking the ticket if PDP zoned South was so real compelling Wike to go for an open contest, believing he could pick it up ahead of Atiku, Tambuwal and Bala Mohammed, given his large war chest.
ddippset: Says a man who hijacked the party and singlehandedly produced the last 4 National Chairmen of the party for his own selfishness.
Says a man who accepted nomination to be running mate to Fulani Atiku. He knew it was injustice to give Atiku the ticket yet he lobbied to be the VP.
He knew the party had to go South for the 2023 election, yet he still put Secondus as National Chaiman just to hijack the party.. Only to push Secondus out because he wanted the ticket 2023.
This man remains the biggest problem of PDP.
He can only deceive and fool his minions, not reasonable people.
We4all: I think because they are constantly with animals, they have exchanged their sense of humanity, brains, and empathy with their cows.
This is why their wickedness is at its peak.
What wickedness is at a greater peak than that of the looters we hail as tribal leaders in local, state and federal government positions in the legislative and executive branches?
The looters who steal money that should pay salaries for teachers and other workers to make schools free to all children.
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.
anonimi: FCT Teacher’s Strike: The unfolding crisis that has kept Abuja’s children out of school for months
The industrial action is the third in a series since late 2024.
ByQosim SuleimanandZainab Adewale July 2, 2025 Reading Time: 4 mins read For over three months, public primary school pupils in the Federal Capital Territory (FCT) have been out of the classroom due to a teachers’ strike.
The industrial action has seen multiple suspensions and resumptions and is the third since late 2024.
Politics › Re: Former UK Prime Minister, Boris Johnson Says He Feels Perfectly Safe In Nigeria by anonimi: 8:09am On Dec 05, 2025
