Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR - Politics

Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR - Politics - Nairaland

Nairaland Forum › Nairaland General › Politics › Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR (21276 Views)

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Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by treesun(op): 9:29am On Aug 19, 2024

The report which is based on a forecast from NNPC, obtained by the newspaper, indicated that the total petrol subsidy expenses from August 2023 to December 2024 will amount to N6.884 trillion, leaving the company unable to remit N3.987 trillion in taxes and royalties to the federation account.

Despite many denials by the Nigerian government on non-payment of fuel subsidies, President Bola Tinubu has given approval to the Nigerian National Petroleum Company (NNPC) Limited to use the 2023 final dividends owed to the federation to cover the cost of petrol subsidies, BusinessDay reports.

The president reportedly approved a halt on the payment of 2024 interim dividends to the federation to help boost NNPC’s cash flow.

The NNPC informed the president that due to the subsidy payments, it is currently unable to pay taxes and royalties into the federation account, referring to this as a “subsidy shortfall/FX differential”.

The report which is based on a forecast from NNPC, obtained by the newspaper, indicated that the total petrol subsidy expenses from August 2023 to December 2024 will amount to N6.884 trillion, leaving the company unable to remit N3.987 trillion in taxes and royalties to the federation account.

The exact number of dividends that would be withheld or put on hold could not be verified at the time of filing this report.

https://saharareporters.com/2024/08/19/tinubu-approves-nnpcs-request-use-dividends-pay-subsidy-fuel-subsidies-gulp-n68trillion

2 Likes 2 Shares

Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by Typicool8(m): 9:31am On Aug 19, 2024

Confused govt!;

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Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by Chido26: 9:31am On Aug 19, 2024

As expected

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Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by CyrusVI(m): 9:32am On Aug 19, 2024

No be dribble NNPC wan dribble FG so?

I dont know how these things work, But I know for sure that KPMG audits FG account

To be honest, FG needs to hire special investigators for NNPC like they it did with CBN

The fact that almost all their financial claims are never verified makes me wonder if FG really knows how bad that group is

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Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by helinues: 9:33am On Aug 19, 2024

CyrusVI:
No be dribble NNPC wan dribble FG so?

SR fit dey lie with this

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Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by CyrusVI(m): 9:33am On Aug 19, 2024

Typicool8:
Confused govt!;

Ikenna, Did u even read the report?

This isnt Alaba market 2+2 economics

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Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by TemplarLandry: 9:34am On Aug 19, 2024

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Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by RuggedBiafran: 9:35am On Aug 19, 2024

This means...NIGERIA is GONE cool

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Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by Maxymilliano(m): 9:37am On Aug 19, 2024

So we are still paying subsidy despite series of denials in government circle huh

33 Likes 1 Share

Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by Typicool8(m): 9:43am On Aug 19, 2024

CyrusVI:
Ikenna, Did u even read the report?

This isnt Alaba market 2+2 economics

Lol you guys and myopia.

42 Likes 2 Shares

Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by RuggedBiafran: 9:43am On Aug 19, 2024

This is how Amosun "MISTAKENLY" sold OGUN STATE to a small china company that is now seizing your presidential JETs.
YORUBA advanced economics is

propaganda, palliatives and criminal enrichment of political class.

shameless people cool

CyrusVI:
Ikenna, Did u even read the report?

This isnt Alaba market 2+2 economics

74 Likes 5 Shares

Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by RuggedBiafran: 9:48am On Aug 19, 2024

They cant see beyond bigotry and foolish palliative handouts from their benefactors cool

Typicool8:
Lol you guys and myopia.

38 Likes 2 Shares

Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by Typicool8(m): 9:55am On Aug 19, 2024

RuggedBiafran:
They cant see beyond bigotry and foolish palliative handouts from their benefactors

Don't mind them. That's why I don't dignify them with responses sometimes.

30 Likes 1 Share

Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by iwaeda: 10:03am On Aug 19, 2024

treesun:
NEWS
The report which is based on a forecast from NNPC, obtained by the newspaper, indicated that the total petrol subsidy expenses from August 2023 to December 2024 will amount to N6.884 trillion, leaving the company unable to remit N3.987 trillion in taxes and royalties to the federation account.

Despite many denials by the Nigerian government on non-payment of fuel subsidies, President Bola Tinubu has given approval to the Nigerian National Petroleum Company (NNPC) Limited to use the 2023 final dividends owed to the federation to cover the cost of petrol subsidies, BusinessDay reports.

The president reportedly approved a halt on the payment of 2024 interim dividends to the federation to help boost NNPC’s cash flow.

The NNPC informed the president that due to the subsidy payments, it is currently unable to pay taxes and royalties into the federation account, referring to this as a “subsidy shortfall/FX differential”.

The report which is based on a forecast from NNPC, obtained by the newspaper, indicated that the total petrol subsidy expenses from August 2023 to December 2024 will amount to N6.884 trillion, leaving the company unable to remit N3.987 trillion in taxes and royalties to the federation account.

The exact number of dividends that would be withheld or put on hold could not be verified at the time of filing this report.

https://saharareporters.com/2024/08/19/tinubu-approves-nnpcs-request-use-dividends-pay-subsidy-fuel-subsidies-gulp-n68trillion

We said so that SUBSIDY IS NOT GONE, Nlfpmod, we Nigerians need to sit down and search our hearts how we want this country to go. If we want to lie to ourselves and pretend we are moving forward or retrogressing destroying the future. Serious queues everywhere, people can't get to offices and businesses. Some people are telling us economy is growing. cry

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Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by iichidodo: 10:20am On Aug 19, 2024

[color=#1986BC] So subsidy wasn't gone after all....All he just had to do was to keep quiet during inauguration day and maybe Dollar would still be at most 1000# and inflation would still be manageable.[/color]

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Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by westfield: 10:20am On Aug 19, 2024

Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by ednut1(m): 10:20am On Aug 19, 2024

Like some have said if they explain Nigeria to you and you understand then you are the mad one

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Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by Yankee101: 10:21am On Aug 19, 2024

Wow
The final rape of the country is in

Can’t the military step in and stop this wanton stealing?

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Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by Funkyswagzz(m): 10:21am On Aug 19, 2024*

At this point I won't doubt what Sahara reporters say after they exposed the private jet tinubu bought for himself amid hunger and suffering Nigerians are going through.

Tinubu should quit this hide and seek on subsidy and tell everyone the truth you can't fool over 200 million people after pocketing your cheap kinsmen

14 Likes

Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by salbis(m): 10:21am On Aug 19, 2024

Las las the man don confuse!

Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by BrighterSyde: 10:21am On Aug 19, 2024

Tinubu protested against subsidy during Jonathan’s time. He said it did not exist and was a means to siphon money.

Tinubu removed the same subsidy he said did not exist and said we will benefit from the removal. Till now what is the benefit to the common man? Ask the idiats defending apc they will name infrastructure that the common man who is in the majority will hardly use. But common bread and beans is now out of their reach.

Now the same Tinubu has approved payment of subsidy.

If you are supporting APC, PDP or LP and you are above 25 and not getting paid for your support then you are a monumental fool.

But if you are like helinues, freestuffng, mannabbqgrillz aka nlpolicewoman, yarimo and the others who have removed their brains to defend apc but are still getting paid then you are better off.

You won’t see the nonentities I mentioned above on a thread like this cos it will be difficult defending their paymasters.

16 Likes 2 Shares

Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by ruggedboy01: 10:22am On Aug 19, 2024

Helinues your job defending your drug Lord is getting harder, make them sha increase your salary small🤣🤣

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Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by Yankee101: 10:22am On Aug 19, 2024

Final state capture
Pay me instead of paying the states and federal govt

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Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by Eriokanmi: 10:22am On Aug 19, 2024

I hope his supporters aren't disappointed, seeing this newspiece grin

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Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by shortgun(m): 10:22am On Aug 19, 2024

"Subsidy is gone" was the first statement the charlatan made on his inauguration yet Nigeria is still paying trillions for Subsidy yet the price of fuel didn't come down.
If you still believe a single word that's comes out of Tinubu you have no brain in your head.
Nonsense angry

9 Likes

Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by Mindlog: 10:22am On Aug 19, 2024

helinues:
SR fit dey lie with this

Then post the "true'" version.

13 Likes 2 Shares

Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by gaby(m): 10:22am On Aug 19, 2024

"SUBSIDY IS GONE"...

TURUMBU

1 Like

Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by EyeCumInPeace: 10:23am On Aug 19, 2024

Govt of Trial and Error. grin

3 Likes

Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by datola: 10:24am On Aug 19, 2024

Hmmm...

Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by VeeVeeMyLuv(f): 10:24am On Aug 19, 2024

So no more "subsidy is gone"?

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Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by gare2510(m): 10:24am On Aug 19, 2024

Just imagine this happening when NNPC goes public; President will just wake up and say dividend money should be used for national portrait

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Re: Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy - SR by ewedunamala: 10:25am On Aug 19, 2024

You can imagine if MC Oluomo was made the president of South Africa?. I keep saying that in a game of numbers like politics, 3 imbecïles can always win a seasoned intellect. It is in every country and the imbecilíty exist both in their professors ,even noble Laureates of all the countries. Na sooo 😅 if you get it

Believe it or not Tinubu is the grand ayatollah of failure.

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