Parachoko:
Asiwaju has not borrowed a Kobo since he became the President.

It was Buhari that Applied for $800m from the World Bank not Asiwaju.

The Lawmakers didn't let Buhari have access to the Money because his tenure was about to End.

On Asiwaju Bola Ahmed Tinubu Mandate I Stand Gidigba

Domestic debt: Lagos borrows over N126bn in three months, DMO releases other States’ figures

The Lagos State Government has borrowed over N126 billion domestically in the last quarter of 2021, the Debt Management Office (DMO) has said.

According to a report released by the DMO, Lagos, whose domestic debt stood at N532.12 billion as of September 30, 2021, is now owing N658.95 billion as at the end of December, 2021.

This represents an increase of N126.83 billion in the last three months of the year 2021, according to the DMO.

DAILY POST observed that Lagos is the State with the highest domestic debt figure as of the time under review.

Ogun State comes second with a total of N232.62 billion debt as of December.

Ogun’s debt profile rose from N192.41 billion to N232.62 within three months, making a debt increase of N40 billion.

https://dailypost.ng/2022/03/21/domestic-debt-lagos-borrows-over-n126bn-in-three-months-dmo-releases-other-states-figures/

lexy2014:


that isnt what I asked

since Nigeria hasnt supplied the crude oil that has been bought in the future and but has collected money for products not yet delivered, is it indebted to its customer?

who is the customer that ordered for crude oil that it doesnt need now but needs it in the future?

leokid866:
Oga calm down....Afreximbank is a bank created to help trade among African countries, with the government of many African countries part of its charter including Egypt, Nigeria, Libya and co....the money from Afreximbank was weighed against Oil crude sale contracts meaning within the term of the forward sale contract (cause thats what it really is and not exactly a loan) If NNPC cannot pay back the cash we can pay in oil which countries like Egypt will take hold of.....and since we don't pay interest on it the money is technically not a loan.....think of it like you as a manufacturer having issues and you meet with your customers to give you an advance payment and mark their money against products which you will supply them at a reasonable amount which they can take hold of regardless of what their market price will be in the future when produced ( this part is crucial when it comes to forward sale contracts concerning oil cause the price always swing) if we can pay back the money that's fine, but I'm sure a key part of the contract will stipulate we pay back part of it in oil 🛢......

lexy2014:


that isnt what I asked

since Nigeria hasnt supplied the crude oil that has been bought in the future and but has collected money for products not yet delivered, is it indebted to its customer? simple yes or no

who is the customer that ordered for crude oil that it doesnt need now but needs it in the future? i need just a name

Bestmanfornow:

NNPC recently borrowed $3billion loan from AFREXIM to cushion Subsidy for Tinubu's government, China and many countries has refused to borrow Nigeria government, Tinubu's administration is now using another strategies, government of the more you look the less you see

leokid866:
yes it's indebted to the Afreximbank which currently represents the following african countries....Angola, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Cape Verde, Chad, Central Africa Republic, Comoros, Côte d’Ivoire, Democratic Republic of Congo, Djibouti, Egypt, Equatorial Guinea, Eritrea, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea Bissau, Kenya, and Lesotho......and we are not indebted in cash but oil.....that's the beauty of a forward sale contract we don't have to pay back the cash if we don't want to.....we can just supply the oil we ordinarily would have at some point in the future 😀

lexy2014:


that isnt what I asked

1. since Nigeria hasnt supplied the crude oil that has been bought in the future and but has collected money for products not yet delivered, is it indebted to its customer? simple yes or no

2. who is the customer that ordered for crude oil that it doesnt need now but needs it in the future? i need just a name

leokid866:
okay just realized your not reading the post so I'm going to leave you to it now.....

Kukutente23:

The $3bn NNPCL borrowed from Afrexim Bank nko
Abi that one na esusu

NinjaMetahuman:
NNPC is its own company.

If dangote borrows 10billion to finance his refinery, you won't say tinubu borrowed 10billion would you?

lexy2014:


since Nigeria hasnt supplied the crude oil that has been bought in the future, since Nigeria has collected money for products not yet delivered, is it indebted to its customer?

who is the customer that ordered for crude oil that it doesnt need now but needs it in the future?

slivertongue:
comic relief. APC said the same thing under Buhari including Tinubu but turned out a disaster yet APC supporters hailed him only to turn around to call him a failure. They have started again with hardship, lies and fake promises. Ain't Tinubu seeking to borrow funds? dubious people kawai

SmartPolician:
But the Minister of Communications and Digital Economy, Dr. Bosun Tijani, made it clear that the government borrowed $500 million to boost the economy.

These deviants in government should stop fooling themselves. No government can run without borrowing. An entire country cannot be as SENSELESS as the agbadorians.

https://www.google.com/amp/s/www.thisdaylive.com/index.php/2023/08/27/fg-secures-500m-loan-to-fund-digital-economy%3famp=1

Kukutente23:

Who owns the crude NNPCL is selling
Which private company goes to borrow money to stabilise the naira
Dey play

Chinjo2:
Don't stop o. APC should continue to borrow until the day China comes to take over Nigeria.

Parachoko:
World Bank didn't borrow us to leave it in the Bank.

Parachoko:
Asiwaju has not borrowed a Kobo since he became the President.

It was Buhari that Applied for $800m from the World Bank not Asiwaju.

The Lawmakers didn't let Buhari have access to the Money because his tenure was about to End.

On Asiwaju Bola Ahmed Tinubu Mandate I Stand Gidigba

OGIBRA:
some people just hate any good news about nigeria...

Imagine if the headline was, FG IS GOING TO BORROW..

Ofunaofu:
This wale edun sef

Since he took over, he has been busy speaking english laced with some economic terms that got no bearing on how to uplift the living standard of the masses

Nigerians are suffering, the impact of subsidy removal is hitting hard on them, rather than find long lasting solutions , the government is busy sharing 100 grains of rice per household as palliatives

Chinjo2:
Don't stop o. APC should continue to borrow until the day China comes to take over Nigeria.

OGIBRA:
some people just hate any good news about nigeria...

Imagine if the headline was, FG IS GOING TO BORROW..

Parachoko:
What do you mean it was borrowed for the sake of Federal Government? Where did you get this your information from?

NNPCL is a Private Organization

Parachoko:
Asiwaju has not borrowed a Kobo since he became the President.

It was Buhari that Applied for $800m from the World Bank not Asiwaju.

The Lawmakers didn't let Buhari have access to the Money because his tenure was about to End.

On Asiwaju Bola Ahmed Tinubu Mandate I Stand Gidigba

Tunji50:

Go nd read about d news
Even frm their website

leokid866:
Oga calm down....Afreximbank is a bank created to help trade among African countries, with the government of many African countries part of its charter including Egypt, Nigeria, Libya and co....the money from Afreximbank was weighed against Oil crude sale contracts meaning within the term of the forward sale contract (cause thats what it really is and not exactly a loan) If NNPC cannot pay back the cash we can pay in oil which countries like Egypt will take hold of.....and since we don't pay interest on it the money is technically not a loan.....think of it like you as a manufacturer having issues and you meet with your customers to give you an advance payment and mark their money against products which you will supply them at a reasonable amount which they can take hold of regardless of what their market price will be in the future when produced ( this part is crucial when it comes to forward sale contracts concerning oil cause the price always swing) if we can pay back the money that's fine, but I'm sure a key part of the contract will stipulate we pay back part of it in oil 🛢......

Safyqueen:
Government that will soon be booted out by the military. Stay there dey yan nonsense. The masses are extremely feeling it and you think things are ok? Just because no demonstration yet? You will soon run out of that office.
Dan buruba shege.

Irony1:


Satan will express so much shock at the way you people lie. Because at this rate you will dethrone him as the father of all liars. This same government that took a $500m facility to use as palliative and who used NNPCL to take $3bn facility from Afrexim that is based in crude oil repayment to stabilize the Naira. You are now saying the has not borrowed. Haaaa fear God oooooo