Paraman's Posts
Nairaland Forum › Paraman's Profile › Paraman's Posts
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mrvitalis:Thier country is great because democracy is working for them. |
Ikwerres, Ikas and the Ukwanis are not Igbo |
iwaeda:Yes we can but will politicians like Gbajue make it go smoothly? |
gidgiddy:USA is the best country in the world |
gidgiddy:So because American presidents don't go into the white house in less than 24hrs, do that mean the Americans also have a long way to go? It takes over two month for a new US president to be sworn into power... The Americans have a long way to go according to gidgiddy |
SundayIgbohoRUN:Is this not your second account MASTAkiLLAh? ![]() |
Roofing sheet company Aarti Steel has denied it is shutting down its Nigeria factory after it was rumoured to have closed down its operations in the country reportedly due to unfavourable business conditions.https://punchng.com/aarti-steel-denies-shutting-down-nigeria-factory/?utm_source=telegram&utm_medium=social
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kedeojo:Lai Lai Obi will never become the president or vice president of Nigeria. |
kedeojo:Gbajue is a coward, he's scared of his northern masters. |
Standing5:This is a bullcrap comparison |
Standing5:You're comparing an airport with a road? You're a clown abeg |
Standing5:This new road will reduce the travel time from Lagos to sokoto. As an Indigene of the south west, I support this project. It will create jobs for the hungry and jobless souls you're wailing on their behalf The road will be constructed and a toll will be constructed on it |
abc115:I wander why Gbajue is not asking the FG to stop this project |
nedu666:Where's the evidence of MC Oluomo disrupting polling units? |
Nigeria’s debt to suppliers of Premium Motor Spirit, popularly called petrol, has surpassed $6bn, doubling what it was since early April, as the Nigerian National Petroleum Company Limited struggles to cover the gap between fixed pump prices and international fuel costs, six industry sources told Reuters. Although this was swiftly described as false by NNPC on Thursday, the Reuters report stated that the national oil company began struggling early this year when late PMS payments surpassed $3bn. The company has still not paid for some January imports, traders said, and the late payments amount to between $4bn and $5bn. Under contract terms, NNPC is meant to pay within 90 days of delivery. “The only reason traders are putting up with it is the $250,000 a month (per cargo) for late payment compensation,” one industry source said. At least two suppliers already stopped participating in recent tenders after hitting self-imposed debt exposure limits to Nigeria, the sources said, meaning they will not send more PMS until they receive payments. Traders thrive in risky environments, but they place limits on how much credit they allocate per trade in order to avoid too much exposure on one borrower. These limits vary by company based on their size and where they operate. As a result, Nigeria’s tenders to buy gasoline in June and July were smaller, traders said. NNPC will import via tender about 850,000 tonnes in July, two of the sources said, down from the typical one million tonnes in previous months. But when contacted by our correspondent and asked to react to the claims by traders as captured in the report, the spokesperson of NNPC, Olufemi Soneye described it as “false.” He went ahead to say, “False. Did they name the marketers they claim we supposedly owe? Let them name them.” President Bola Tinubu announced an end to expensive fuel subsidies in May last year, allowing pump prices to triple. But NNPC capped pump prices shortly afterward as citizens chafed under rising cost of living. The cap, coupled with a naira currency crash, allowed the subsidy to creep back, according to industry analysts, though NNPC has denied the return of PMS subsidy. Analysts, NGOs and even government officials have slammed the subsidy for years as wasteful and corrupt. But Nigerians, who get few government services, have long seen cheap fuel as their right, especially in the current cost-of-living crisis. Last week, deadly riots forced Kenya’s debt-burdened government to cancel planned tax rises, casting a shadow over efforts elsewhere to inflict any further pain on citizens stung by rising inflation. Senegal’s energy subsidy bill remains high, at 3.3 per cent of GDP, while Egypt and Angola are also trying to axe subsidies to shore up state finances. Nigeria, Africa’s largest oil exporter, imports virtually all its fuel due to years of neglect at its state-owned oil refineries. The newly opened 650,000 barrel-per-day Dangote refinery has not yet produced marketable petrol, and is selling other fuels abroad. The country has few savings to fall back upon as corruption and wasteful spending have eaten up decades of oil revenues. Cash-strapped NNPC has also mortgaged much of its spot oil cargoes, limiting what it can sell for cash. In late 2023, NNPC secured its biggest-ever oil-backed loan worth $3.3bn from Afreximbank and a consortium of traders, including Gunvor, and opens new tab, to shore up the country’s foreign exchange. https://punchng.com/nnpc-disagrees-as-report-puts-petrol-debt-at-6bn/?utm_source=telegram&utm_medium=social |
A lot of work still needs to be done to tackle insecurity in Nigeria |
caye:What sort of bullcrap is this? ![]() |
malali:The OP needs to be flogged They have the largest population of millionaires after the US |
babasolution:you're referring to the Chinese as "Ordinary"? Millions of Chinese will live like kings and Queens in any country around the world Please don't say it again |
This is illegal |
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