₦airaland Forum

clydecarson:
Thieves in government... Y'all were happy they cleared imf loan you didn't know they collected from opay to pay palmpay

This country would never get better, Nigerians used their hands to spoil it by voting trash called leaders all the time

forgiveness:
Who told you Stadium and airport don't generate money?

MakindeHassan:
If Nigerian stadiums were generating money they wouldn’t be in the dilapidated state they are in. You’re mixing it with premier league stadiums that have events almost every weekend and fans pay hundreds of pounds to attend.

How many events does Nigerian stadium host? How much do they charge for tickets? How much was used to build the stadium and how many years before they break even.

Secondly, most airports run at a loss that’s why they are mostly government owned. If we make airports private very few Nigerian will be able to afford to fly.

helinues:
Nigeria is using at least 300,000 barrels per day (bpd) to repay other oil-backed loans that its national oil firm NNPC has taken.

ActressAbimbola:
Will you like to work at NNPC?

Blitzking:
Will dangote be willing to repay those oil backed loans so he can get a steady oil supply instead of importing from Yankee. That's a heavy investment and he won't want to give up stakes in his oil refinery..but by making his refinery public he can actually pay of that [b]5billion naira [/b]and get that 300 thousand barrels per day.. an opportunity for those oil marketers to divert from importing refined products and get into the business of developing Nigeria.

malali:
Source :https://oilprice.com/Latest-Energy-News/World-News/Saudi-5-Billion-Loan-to-Nigeria-Hangs-in-the-Balance-as-Crude-Prices-Plunge.html

clydecarson:
Thieves in government... Y'all were happy they cleared imf loan you didn't know they collected from opay to pay palmpay

This country would never get better, Nigerians used their hands to spoil it by voting trash called leaders all the time

malali:
$5B Oil-Backed Loan Is a Financial Suicide Pact

This isn't strategy. It's economic self-sabotage. Nigeria taking out another oil-backed loan-its only real revenue-generating lifeline-just to build non-revenue-generating infrastructure is like mortgaging your only kidney to buy a golden toilet.

1. YOU CAN'T BUILD WEALTH BY SELLING YOUR ONLY ASSET AT A DISCOUNT

Nigeria is pledging 100,000 barrels/day to repay a $5B loan. At $65/barrel (current rate), that's $6.5 million/day in exports gone-not reinvested, not taxed, just vanished to pay back a foreign creditor.
And if oil drops further? Nigeria has to pump more to pay the same. That's a slave contract, not a financial instrument.

2. NON-REVENUE INFRASTRUCTURE IS A FANCY SINKHOLE

These loans are not being used for cash-generating assets. No toll roads. No export-oriented rail. No pipelines. Instead, we get white elephants: stadiums, airports, urban boulevards. All things that require foreign parts, foreign maintenance, and worse-no ROI.
How do you pay back a $5B loan with a library or conference center?

3. IT'S MORTGAGING THE FUTURE FOR ELITE BRAGGING RIGHTS

What we're witnessing isn't nation-building-it's short-term optics for elite validation. A shiny new bridge, a "smart" capital city project, a photo-op at a ribbon-cutting. Meanwhile, the crude goes out, the dollars never reach SMEs, and youth unemployment stays a volcano.

4. NOBODY TRUSTS THE NNPC. BANKS AREN'T STUPID

Even the lenders are twitching. The deal is dragging because banks don't believe Nigeria can deliver the oil. Years of under-investment, theft, and pipeline vandalism mean that even if you wanted to repay, you might not have the crude to do it. That's financial leprosy.


5. OIL-BACKED LOANS = MODERN COLONIAL LEASEHOLDS

Let's call it what it is: a blood pact with Aramco. For a quick fix, Nigeria will now be offering oil not on its own terms-but under Saudi pricing, Saudi timelines, and foreign bank custody.
It's the new digital oil plantation-except the masters wear suits and the chains are Bloomberg terminals.


Nigeria isn't leveraging oil to build wealth.
It's bartering survival to build maintenance-intensive fantasies that generate nothing but debt, dependence, and press statements.

terrezo2002:
It is 5 billion dollars. Does Dangote have such amount in cash?

Successsearch90:
well written

IbnB:
Money that APC vampires will use to buy Rolls Royce and private jet for their girlfriends

Gerrard59:
Blame Buhari who initiated the crude for loan scheme. Blame Buhari who squandered the Excess Crude Account with the likes of Oshiomole, Amaechi and Fashola who harassed Jonathan and Okonjo-Iweala (Peter Obi was the only governor who opposed the extravagance) for saving money. Blame Buhari who backed massive insecurity across the country.

Most of you, including the OP, campaigned and voted for Buhari in 2015. Why are you lots complaining?

malali:
Thanks.
We are looking for ways to make Nigeria better.
I hate to go abroad and see....human beings like us running their country better.

Gerrard59:
Blame Buhari who initiated the crude for loan scheme. Blame Buhari who squandered the Excess Crude Account with the likes of Oshiomole, Amaechi and Fashola who harassed Jonathan and Okonjo-Iweala (Peter Obi was the only governor who opposed the extravagance) for saving money. Blame Buhari who backed massive insecurity across the country.

Most of you, including the OP, campaigned and voted for Buhari in 2015. Why are you lots complaining?

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.

https://dailypost.ng/2021/09/01/flashback-how-bola-tinubu-spoke-highly-of-buhari-in-2015-named-pdp-poverty-development-party/

MrPresident1:
If Saudi is dillydallying, go to China, China will give us

ufotunang:
.china that Nigeria is still owing huge debts...that is why Nigeria cannot go to china

malali:
$5B Oil-Backed Loan Is a Financial Suicide Pact

This isn't strategy. It's economic self-sabotage. Nigeria taking out another oil-backed loan-its only real revenue-generating lifeline-just to build non-revenue-generating infrastructure is like mortgaging your only kidney to buy a golden toilet.

1. YOU CAN'T BUILD WEALTH BY SELLING YOUR ONLY ASSET AT A DISCOUNT

Nigeria is pledging 100,000 barrels/day to repay a $5B loan. At $65/barrel (current rate), that's $6.5 million/day in exports gone-not reinvested, not taxed, just vanished to pay back a foreign creditor.
And if oil drops further? Nigeria has to pump more to pay the same. That's a slave contract, not a financial instrument.

2. NON-REVENUE INFRASTRUCTURE IS A FANCY SINKHOLE

These loans are not being used for cash-generating assets. No toll roads. No export-oriented rail. No pipelines. Instead, we get white elephants: stadiums, airports, urban boulevards. All things that require foreign parts, foreign maintenance, and worse-no ROI.
How do you pay back a $5B loan with a library or conference center?

3. IT'S MORTGAGING THE FUTURE FOR ELITE BRAGGING RIGHTS

What we're witnessing isn't nation-building-it's short-term optics for elite validation. A shiny new bridge, a "smart" capital city project, a photo-op at a ribbon-cutting. Meanwhile, the crude goes out, the dollars never reach SMEs, and youth unemployment stays a volcano.

4. NOBODY TRUSTS THE NNPC. BANKS AREN'T STUPID

Even the lenders are twitching. The deal is dragging because banks don't believe Nigeria can deliver the oil. Years of under-investment, theft, and pipeline vandalism mean that even if you wanted to repay, you might not have the crude to do it. That's financial leprosy.


5. OIL-BACKED LOANS = MODERN COLONIAL LEASEHOLDS

Let's call it what it is: a blood pact with Aramco. For a quick fix, Nigeria will now be offering oil not on its own terms-but under Saudi pricing, Saudi timelines, and foreign bank custody.
It's the new digital oil plantation-except the masters wear suits and the chains are Bloomberg terminals.


Nigeria isn't leveraging oil to build wealth.
It's bartering survival to build maintenance-intensive fantasies that generate nothing but debt, dependence, and press statements.

Successsearch90:
hmmm My brother I feel your pain about this country. Its the same here.
Am just wondering what we can do savage this country cos these clueless lost "leaders" will destroy this country almost beyond anything

malali:

The problem is worse than we even know it to be, I will give you an example. Tinubu borrowed money when OIL was $100 a barrel. Now that oil is about half that price, he has to give them double the barrels he promised originally. Lets say original loan was 500k barrels will be used to repay the loan daily. Now we need 1 million barrels to repay the same loan. Nigeria only produces 1.5 million a day. So we are using 1 million to pay loans we used to build loans and stadium. And only have 500k barrels left to sell and pay salaries and run the government.

This wont last forever as we are slowly going to run out any barrels to sell for revenue, because we have borrowed against out daily max production !!!

MrPresident1:
Is a Bible spiritual prophecy. China must give us the money

ufotunang:
..is it your money 🙄

helinues:
Nigeria is using at least 300,000 barrels per day (bpd) to repay other oil-backed loans that its national oil firm NNPC has taken.

malali:

Very good idea. Better still Nigerians can come together and buy the 5 billion of crude Oil and then pay Dangote to refine it, and sell the Refined products i.e petrol to Nigerians and export the rest, which will generate more profit than selling the raw ,unrefined crude oil.
500,000 people contributing $100 each, would buy the 5 billion dollars crude. Dangote can refine it, that's just 20 days of petrol for the whole country based on consumption.