Subsidy Removal: FG was owing the NNPC over N4trn when Tinubu took over- Bayo Onanuga
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Senate Probes NNPC Over $396 Million Refineries’ Maintenance
Mr Bayo Onanuga, who happens to be the Special Adviser to President Bola Ahmed Tinubu on Information and Strategy, during an interview with The Nigerian Tribune, has spoken on one of the reasons for the subsidy removal that was implemented by President Bola Ahmed Tinubu.

While he was talking he said that it was necessary because the Nigeria’s economy was already in shambles, and that the federal government was owing the NNPC the sum of N4 trillion for subsidy payments.

He said, “The economy was really in shambles by the time Tinubu took over. The government was owing the NNPC over N4trn. Debt servicing was eating up the entire revenue of the government. The CBN reportedly spent $1.5 billion monthly to support Naira to keep the value artificially low. “

Further talking, he said that the federal government borrowed a lot of money. So, there was no way they could have continued along the trajectory.

He said that the President Bola Ahmed Tinubu’s led government, is trying to put a lot of things in place to make sure the economy is put on a sounder footing.

The debt is increasing, the borrowing has not stopped. The economy is getting worse. BAT clearly said he would continue from where Bubu stopped.

lexylaw40:
your name says it all.....Immortal Clown 🤡

And you are addicted to clown.

Nothing concern nigerian government and MILLION again. it is outdated.

immortalcrown:
The debt is increasing, the borrowing has not stopped. The economy is getting worse. BAT clearly said he would continue from where Bubu stopped.

your name says it all.....Immortal Clown 🤡

Nice one . Thank you President Bola Ahmed Tinubu for your great efforts towards revamping our economy. May God bless your efforts

Chai

Welldone sir...

And so?
Who owns NNPCL? All this sensationalism is uncalled for.
This govt is beginning to sound more like Buhari's when it comes to giving excuses

immortalcrown:
The debt is increasing, the borrowing has not stopped. The economy is getting worse. BAT clearly said he would continue from where Bubu stopped.

And you are addicted to clown.

Of course, we will borrow as we no get money inside our reserves, abi na stone we go dey use do projects?, but never again we go dey borrow to pay fuel subsidy and to dey patch up artificial value of naira. We will only stop borrowing if your papa promise to dey give us money every month.

Pakute:

Of course, we will borrow as we no get money inside our reserves, abi na stone we go dey use do projects?, but never again we go dey borrow to pay fuel subsidy and to dey patch up artificial value of naira. We will only stop borrowing if your papa promise to dey give us money every month.

We will measure your performance after 3 years. Till then...

immortalcrown:
We will measure your performance after 3 years. Till then...

Una don dey wail since May 29, nothing new.

Pakute:
Una don dey wail since May 29, nothing new.

A lot has happened since then.

This story get serious K-leg,this government should stop giving excuses for NNPCL
An organization that cannot account for 12 trillion naira is claiming that the country is owing them 4 trillion naira.Abeg let Uncle Bayo Onanuga leave this tales by moonlight jare
Asiwaju must take the bull by the horn and do the needful,I am will to bet that NNPCL doesn't have any plans to make any Refinery work.
Let Asiwaju sell off at least those scrap metals called Refineries,work with Modular Refineries and Dangote Refinery to provide a short gap for our local needs and stop this importation madness
The present crop of people in NNPCL are part of our problem and they never be part of the solution
Kindly click on the link to get a part of the emerging Ibeju Lekki Industrial Hub:
https://www.nairaland.com/7905580/introducing-silvergate-estate-ibeju-lekki

lexylaw40:
Nice one . Thank you President Bola Ahmed Tinubu for your great efforts towards revamping our economy. May God bless your efforts

So how much has Tinubu paid out of the 4trillion since he stopped the subsidy?

Because last time I checked it is Nigerians that will be taxed to pay the 4 trillion, so we don't enjoy subsidy, government did not pay the debt and we still pay the debt they gave to us as subsidy while buying things at increased rate due to the removal of the same subsidy.

Govt owes nnpc
Govt owns nnpc
Therefore govt should tell nnpc looters we have paid you but the money is too big that you can't see it

lexylaw40:
Nice one . Thank you President Bola Ahmed Tinubu for your great efforts towards revamping our economy. May God bless your efforts

Make he bring back a fully functional refineries alive and build one more refinery from the scrap

Bukola94:
Make he bring back a fully functional refineries alive and build one more refinery from the scrap

anything is possible with God