₦airaland Forum

As assumed by Fayose, Makinde meeting with Tinubu did not go well. Because how on earth will Makinde be praising Buhari administration?

abbasajao:
As assumed by Fayose, Makinde meeting with Tinubu did not go well. Because how on earth will Makinde be praising Buhari administration?

ask them .....

Bobloco:
Makinde turning himself to opposition spokesperson after Tinubu snub - Fayose



SOURCE

Na frustration dey worry makinde

Fayose has become a shame to his family…Seyi Makinde not even replying him make it more shameful

AMINDA:
Does this include Tinubu himself or just everyone else but him?

See the simple question they asked mascot87, but he stylishly avoided the question, just like the usual Tinubu propagandist that he is.

The picture above of fayose and Makinde
Politics can be so cruel
Zero moral
All na chop chop
Self interest..............

Someone said
Politics is making my personal interest looks like the public interest.

AMINDA:
Is Makinde not opposition? Makinde is a member of the PDP with legitimate ambition to vie for president, for God's sake! Perhaps, Fayose believes because Makinde is Yoruba, he shouldn't contest for president against Tinubu. Why do Agbadorians now scream turn of the South when every single Southerner (Jonathan, Obi, Makinde) is being harassed and disenfranchised from contesting against Tinubu with some already being called betrayers for doing so? The PDP and LP was destroyed by them to achieve this purpose. Does Tinubu want to become the only candidate on the ballot?

This your hate for Tinubu is real but let me assure you that you will surely cry premium tears in 2027 after Tinubu's victory..Bookmark this. May God spare our lives till then. I shall come back here to remind you of this!

Truthissupreme:
una no know fayose

Very bitter satanic short fool

Dem no see atiku to dey curse again, na to eat him intestines with hate

You support tinubu why not come out with your full chest and be apc, instead of this chameleon cowardice you and wike dey deploy claiming warriors

whatever he thinks he is doing makes no sense, lack merit, credibility or truth.

1st Fayose is a relegated politician, you dont have any capacity to speak for Tinubu .. it is not like you are besties

Feeding Nigerians what you did not see or witness is just preposterous ... as at 2024 Seyi joined NLC protest in ibadan against Tinubu government so Fayose cant confuse us, becos of one meeting in 2026 seyi have made it clear since he wont support Tinubu 2027 why will he be expecting Tinubu support

why is Bayo Onanuga not saying what Fayose is saying is the president afraid

Makinde is a loser and we are coming for him to demand whereabout the N30billion he collected chop and clean mouth.

Cajal:
Na frustration dey worry makinde

What kind of frustration could be worrying the best governor since 1999, whose shoe lace Tinubu is not even fit to tie in the provision of basic services and utilities to the sovereign people of the state who allowed him to serve them in the office of governor

Did Tinubu and his minions employ as many teachers in their 27 years of lagos lootocracy TAX monster plan than what Makinde did in five years?

Are APC politicians no longer progressives? Are they rather progreThieves

NUT commends Oyo over recruitment of 19,500 teachers
December 6, 2024


https://punchng.com/nut-commends-oyo-over-recruitment-of-19500-teachers/

Jayhome24:
Makinde is a loser and we are coming for him to demand whereabout the N30billion he collected chop and clean mouth.

To show that you are not the worstest loser here, can you please confirm that you have demanded the whereabout of the SPV Afreximbank loan of $3.3 billion secured with future oil sales to defend the Naira since Tinubu has failed to make dollar equal to N300 in the short term after he hit the ground running in May 2023

ijustdey:
Nigeria will pay an interest of 11.85 percent per annum on the $3.3 billion “pre-export finance facility” (PxF) facilitated by the Nigerian National Petroleum Company (NNPC) Ltd and arranged by Afrexim Bank, TheCable can report.

Until now, the fine details of the transaction, which has a five-year tenor, had been withheld by all parties involved.

A similar cocoa-backed $800 million facility arranged for Ghana by its cocoa marketing board attracts an interest of 8 percent per annum.

Bilateral lenders, such as the International Monetary Fund (IMF), would typically charge 1-3 percent with a longer tenor.

In the details seen by TheCable, Nigeria pledged a total of 164.25 million barrels of crude oil — at 90,000 barrels per day — starting from 2024 to repay the loan through Project Gazelle Funding Ltd, an “orphan” special purpose vehicle (SPV) incorporated in Bahamas for the PxF.

Effectively, the NNPC has pledged 38.58 percent of five years’ worth of tax and royalty oil to secure the loan.

Nigeria pledges over $12 billion worth of oil
At the beginning of 2024, a barrel of Nigerian oil was sold at the international market at $77.93 per barrel, according to the Central Bank of Nigeria (CBN) data.

At $77.93 per barrel, the 164.25 million barrels of oil pledged by Nigeria equals $12.8 billion — about three times more than the facility taken.

Pre-2014, the national oil company used to remit an average of $3 billion from oil sales every month.

Officially, Project Gazelle Funding Ltd (PGFL) is the borrower while the NNPC is the “sponsor” and will pay with oil to the SPV to liquidate the loan.

To make the repayment, the NNPC will forward-sell 90,000 barrels per day of Nigeria’s share of offshore crude oil under the production sharing contract (PSCs) with the oil companies.

Under PSCs, the companies usually pay royalties and taxes by giving the oil equivalent to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Federal Inland Revenue Service (FIRS) respectively.

The NNPC in turn exports the oil on behalf of NUPRC and FIRS and remits the proceeds to the agencies.

This is part of the revenues paid into the federation account and shared by the three tiers of government.

But under the PxF, the revenue from 90,000 barrels per day will be used to service the loan in the next five years.

The loan arrangers will get a commission of $66 million or 2% of the facility, TheCable further learnt.

Nigeria will pay 2 percent penalty per annum in the event of a default.


‘DOLLAR LIQUIDITY TO STABILISE THE NAIRA’

The national oil company announced in August 2023 that the PxF was to support the federal government “in its ongoing fiscal and monetary policy reforms aimed at stabilizing the exchange rate market”, describing it as “a relief for the naira”.

It called the facility “crude oil repayment” with an upfront cash loan “against proceeds from a limited amount of future crude oil production”.

At the time, the dollar exchanged for an average of N775 in the official market and N885 on the streets.

The rates have now moved to N1,035/$ (official) and N1,230/$ (parallel).

Nigeria’s outstanding forex liabilities are currently thought to be over $7 billion.

In an explainer after announcing the PxF last year, the NNPC said its exposure is very limited, “covering just a fraction” of their entitlements and that “there are no sovereign guarantees tied to it”.

It said it “will also equip the Federal Government with the necessary dollar liquidity to stabilize the Naira, with limited risk”.

A strengthened naira as a result of the initiative, it said, “will lead to a reduction in fuel costs. This means that if the Naira appreciates in value, the cost of fuel will drop and further increases will be halted”.

It also ruled out subsidies, maintaining that a stronger naira “will result in lower prices from the current level, making subsidies unnecessary. The deregulation policy remains unchanged”.

Critics questioned NNPC’s involvement in getting loans to boost forex reserves when it should be concentrating its efforts on bringing in more oil revenues.

There were also questions over the decision to pledge the tax and royalty oil belonging to the entire federation to secure the loan.

Analysts also queried why the details of the deal were never made public.

https://www.thecable.ng/exclusive-nigeria-to-pay-11-85-interest-on-3-3bn-afriexim-nnpc-loan-pledges-164m-barrels-as-security/amp

AMINDA:
Is Makinde not opposition? Makinde is a member of the PDP with legitimate ambition to vie for president, for God's sake! Perhaps, Fayose believes because Makinde is Yoruba, he shouldn't contest for president against Tinubu. Why do Agbadorians now scream turn of the South when every single Southerner (Jonathan, Obi, Makinde) is being harassed and disenfranchised from contesting against Tinubu with some already being called betrayers for doing so? The PDP and LP was destroyed by them to achieve this purpose. Does Tinubu want to become the only candidate on the ballot?

From your submission above, it's clear you're just trying to be clever by half. Did you read anywhere from Fayose's claim where the President said Makinde shouldn't run for Presidency ?

Secondly, should Tinubu promise to support Makinde in any form when both are eyeing the same position?

If you don't understand politics, you better switch to entertainment section. Politics is not for kids.

Ire o

Dapson73:
From your submission above, it's clear you're just trying to be clever by half. Did you read anywhere from Fayose's claim where the President said Makinde shouldn't run for Presidency ?

Secondly, should Tinubu promise to support Makinde in any form when both are eyeing the same position?

If you don't understand politics, you better switch to entertainment section. Politics is not for kids.

Ire o

Maybe you should read the topic of the thread again. This time, slowly. Makinde is not requesting support from Tinubu. He is gunning for his seat and justifiably so. Real omoluabis in Yorubaland will no longer sit behind and watch Tinubu and his hirelings brand Makinde a betrayer for contesting against Tinubu. The betrayer tag has become one too many. Osinbajo, Fayemi, Ambode, Aregbesola, Fashola, Sanwo-olu, etc. Who will now succeed Tinubu in the Southwest if everyone is a betrayer? His son, Seyi?

Bobloco:
Makinde turning himself to opposition spokesperson after Tinubu snub - Fayose



SOURCE

Well done to you, Oshoko.

Sh:ame on £50b Governor of Oyo State.

IkeAnumudu:
Well done to you, Oshoko.

Sh:ame on £50b Governor of Oyo State.

Just £50bn
It should be £1trn
Zombies sef

see this werey with whisky 🥃🥃🥃

Ladies and Gentlemen, can you all see what a former Two Term Guvnor has been reduced to!

AMINDA:
Is Makinde not opposition? Makinde is a member of the PDP with legitimate ambition to vie for president, for God's sake! Perhaps, Fayose believes because Makinde is Yoruba, he shouldn't contest for president against Tinubu. Why do Agbadorians now scream turn of the South when every single Southerner (Jonathan, Obi, Makinde) is being harassed and disenfranchised from contesting against Tinubu with some already being called betrayers for doing so? The PDP and LP was destroyed by them to achieve this purpose. Does Tinubu want to become the only candidate on the ballot?

Is Tinubu from the north