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Nairaland Forum / Nairaland / General / Politics / Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-backed Loan (329 Views)
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Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-backed Loan by Omooba77: 8:22pm On Jul 09 |
The President Bola Tinubu-led federal government is seeking an additional $2 billion crude oil-backed loan from international creditors to boost its financial inflow. Sources familiar with the matter disclosed that the loan is being sought to augment the country’s finances, which have been strained in recent times. Reuters reported on Tuesday that the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, confirmed the development, stating that the national oil company is in talks with international creditors to raise an oil-backed credit facility. The move comes on the heels of the recent revelation that NNPC is struggling to pay international oil traders a backlog of $6 billion, amid the removal of fuel subsidy. Kyari assured that the credit facility will help boost the corporation’s finances and allow for investment in the oil and gas sector. He, however, did not disclose the international financial body with which NNPC is in talks, nor the amount it plans to raise from the transaction. According to him, the cash raised will be used for all of NNPC’s business activities, including supporting production growth. “We have no problem covering our gasoline payments. This is just money for normal business and not a desperate act,” Kyari said. “It will be a syndication with critical but regular partners who have been in business with our company to forward the cash.” It could be recalled that NNPC already holds a $3.3 billion oil-backed loan from Afreximbank. https://politicsnigeria.com/tinubus-government-set-to-borrow-a-fresh-2-billion-crude-oil-backed-loan/ |
Re: Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-backed Loan by EreluRoz: 8:24pm On Jul 09 |
Again |
Re: Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-backed Loan by Ance4Liverpool: 8:32pm On Jul 09 |
We don enter one chance for this useless tinibus goverment 2 Likes |
Re: Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-backed Loan by ilemi: 8:40pm On Jul 09 |
Ance4Liverpool:what will be the impact |
Re: Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-backed Loan by fuckingAyaya(m): 8:53pm On Jul 09 |
Na statistics we go chop? 1 Like |
Re: Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-backed Loan by Jking20(m): 9:01pm On Jul 09 |
This man must be stopped!! We are going down as a country everyday yet we are just happy watching... 3 Likes |
Re: Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-backed Loan by mightyhaze: 9:02pm On Jul 09 |
ilemi:A roasted corn 🌽 |
Re: Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-backed Loan by Macphenson: 9:10pm On Jul 09 |
Jesus Christ 2 Likes |
Re: Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-backed Loan by Shikini: 9:10pm On Jul 09 |
Na wa oo . 2 Likes |
Re: Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-backed Loan by WantsandMore: 10:01pm On Jul 09 |
I thought Tinubu opined in the past that oil backed loans are outdated? What is this real? |
Re: Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-backed Loan by 2aces(m): 10:05pm On Jul 09 |
These guys are acting carelessly as though we have a spare country saved somewhere we can run to when this one gets destroyed eventually, playing useless economics with millions of lives.
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Re: Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-backed Loan by BlowYourMind: 10:13pm On Jul 09 |
It is better than Biafra war 2 9 Likes |
Re: Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-backed Loan by Omooba77: 10:16pm On Jul 09 |
Nlfpmod, which crude will Dangote refine....... |
Re: Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-backed Loan by MASTAkiLLAh(m): 10:23pm On Jul 09 |
Wasting time with Emefiele when account linked to BVN of only three individuals can be frozen and forfeited even at international level with funds diverted straight to national coffers, we haven't even spoken of family members. You'll see Nigeria will stabilize instantly but let us keep wasting time with Emefiele's ten ten Kobo case na |
Re: Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-backed Loan by Treadway: 10:41pm On Jul 09 |
mightyhaze:lo ba tan o.. The 2billie is just the down payment for a roasted corn of electricity. Dazall!🤣 |
Re: Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-backed Loan by lastkingsman: 10:58pm On Jul 09 |
. |
Re: Tinubu’s Government Set To Borrow A Fresh $2 Billion Crude Oil-backed Loan by Mynd44: 11:58pm On Jul 09 |
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