₦airaland Forum

In  September 2021, Nigeria raised $4 billion (N1.6 trillion) through Eurobond issuance.

BY SAHARAREPORTERS, NEW YORKMAR 16, 2022

The Minister of Finance, Budget and National Planning, Zainab Ahmed, says the Federal Government is targeting local borrowing in 2022 to fund subsidy payments.

Ahmed, in an interview with Reuters, said the government would use $2.2 billion (N916 billion) of the fund raised via Eurobond to cater to petrol under-recovery costs.

Zainab Ahmed

In September 2021, Nigeria raised $4 billion (N1.6 trillion) through Eurobond issuance.

Ahmed however said Nigeria would not tap the Eurobond market this year.

“Rising oil prices have put us in a very precarious position … because we import refined products … and it means that our subsidy cost is increasing,” she said.

She said the government was working with lawmakers to boost revenues and that the rise in oil prices means that borrowings will increase more than planned.

Russia's invasion of Ukraine sent oil prices higher and injected even more uncertainty into an already off-balance worldwide economy.

For Nigeria, high oil prices mean high subsidy payments for the government to sell petrol below the international market rate.

The country depends almost entirely on imports to meet its domestic gasoline needs, even though it is a crude oil exporter. It is also facing shortages after recently importing off-spec petrol.

http://saharareporters.com/2022/03/16/nigerian-government-will-borrow-more-fund-petrol-subsidy-%E2%80%94-finance-minister

Not surprising. You people are always telling citizens you are borrowing; why not also tell us how much you are earning?Maybe you don't know: to Nigerians your administration is worse than covid 19.

Watch as illiterates that doesn't know anything about economics insult the minister and our darling president


People without respect


That is why we have decided that power stays in the North 2023

North 2023

Anyway I sell cows o

Yoruba Muslims should pay the interest with skull igr

The most useless minister of finance since the amalgamation of Nigeria. That she’s a woman makes it more shameful. She has a lot to learn from Ngozi Okonjo Iweala and other women who have excelled in their profession.


Olodo

Beremx:
The most useless minister of finance since the amalgamation of Nigeria. That she’s a woman makes it more shameful. She has a lot to learn from Ngozi Okonjo Iweala and other women who have excelled in their profession.


Olodo

Iya no vex, u put hand for where we dey today

Blackfire:
Watch as illiterates that doesn't know anything about economics insult the minister and our darling president


People without respect


That is why we have decided that power stays in the North 2023

North 2023

Anyway I sell cows o

But darling president said there no such thing as subsidy.

Buhari is still hell bent on looting Nigeria with his over bloated fake subsidy

FIRS, custom and so on de claim trillions dem degenerate, but we dey borrow pass anyone. No be juju be dis.

Lalasticlala who go pay all dese gbeese?

Where are the people that Protested against GEJ?
Are you guys happy now?
Have you lost your voice?
Why the sudden silence?
Was your protest because GEJ was from a minority tribe?
One thing I know is that, whether good or bad, we will still enjoy or suffer together,it doesn't matter if you are rich or poor.

Why borrowing when the allowances of the legislators can be reduced

Subsidy has become a major tool for blackmail.

Now they're going to borrow more and we can't do nothing because majority of us do not want the subsidy removed.

Nemesis will soon catch up with those who mismanaged the refineries despite the billions spent on the turn around.

Mooh247:
Rule 2 Mynd44 Lalasticlala Seun Oamj4

Another direct attack on Yoruba

let this be the last time you would quote me to talk trash

This rope wen dey hungry you, you go soon see am use

baralatie:

Eyes de push me

ogododo:
Iya no vex, u put hand for where we dey today

no be only hand I put, I put head and leg join. We go overcome Insha Allah

Truthisunique3:
let this be the last time you would quote me to talk trash

This rope wen dey hungry you, you go soon see am use

Crap

If you don't want the mention act mature and stop insulting a tribe because of politics

Beremx:
no be only hand I put, I put head and leg join. We go overcome Insha Allah

Amin.Ise

Bubu don sink Naija low.

ogododo:
Iya no vex, u put hand for where we dey today

That year wey Berem them carry sai barber for head like oshodi galla. Anyways she don repent now.

Nigerians forcing government to borrow away their future to subsidize petrol for West Africa.

These countries will be Happy with your mumu. They'd be glad to buy your cheap petrol instead.

JAMO84:
Nigerians forcing government to borrow away their future to subsidize petrol for West Africa.

These countries will be Happy with your mumu. They'd be glad to buy your cheap petrol instead.

Subsidy wey be scam according to your bubu.