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Nairaland Forum / Nairaland / General / Business / Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels (6978 Views)
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Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by ijustdey: 6:29pm On Jan 04 |
......As security 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. https://www.thecable.ng/exclusive-nigeria-to-pay-11-85-interest-on-3-3bn-afriexim-nnpc-loan-pledges-164m-barrels-as-security/amp 2 Likes 1 Share
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Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by Artiiclebeast: 6:32pm On Jan 04 |
Someone should help us multiply $70 by 164,000,000 barrels of crude oil, please. 2 Likes 1 Share |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by matify83: 7:19pm On Jan 04 |
At the rate our oil have been securitized for foreign loans, I'm not sure we still have up to 1 million barrels of our 1.8 million opec quota for ourselves. Buhari did his own shortly before leaving office and now this from Asiwaju. Little wonder government is always resorting to "ways and means" to get money for their domestic obligations. We are truly in for a long thing. 25 Likes 3 Shares |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by playapayaski: 9:12pm On Jan 04 |
Has GTB folded? What's going on anyone with any useful information ![]() 1 Like |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by iwaeda: 9:12pm On Jan 04 |
ijustdey: APC have mortgage Nigeria. The loan will not achieve anything meaningful. OBJ have said so, up to 10th generations; they will pay debt. ![]() ![]() ![]() ![]() ![]() 8 Likes 2 Shares |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by just2endowed: 9:13pm On Jan 04 |
that is too much. 4 Likes |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by DMerciful(m): 9:13pm On Jan 04 |
APC ruined Nigeria for real 12 Likes 2 Shares |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by omowolewa: 9:13pm On Jan 04 |
Shey, I told people not to look at oil production per day, most of it has been pledge 6 Likes 1 Share |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by grandstar(m): 9:14pm On Jan 04 |
The rate is too high where there no alternatives? One that quickly comes to mind is $9bn a so called Diezani made mention of. The government could also sell its stake in various joint oil ventures it has with multinationals. The government has proven not to be faithful with is little by not fighting inflation with higher interest rates. How then will it manage the $3bn? Frankly speaking, the country needs an IMF bailout? That's what the institution was made for. Unfortunately, some of its demand will simply not be met such as the downsizing of the bloated civil service. A bailout is therefore dead on arrival. 5 Likes |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by NwaNimo1(m): 9:14pm On Jan 04 |
Na reverse Subsidy be dat...... ![]() 7 Likes 1 Share |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by money121(m): 9:16pm On Jan 04 |
Ok |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by valuedammy(m): 9:16pm On Jan 04 |
Hmnnn |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by skj1377(m): 9:18pm On Jan 04 |
I hope they know what they are doing. When you borrow to buy bullet proof land cruiser jeeps am sure you don't have plans to payback. 16 Likes 2 Shares |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by DesChyko: 9:24pm On Jan 04 |
Look at these numbers for God's sake. 😑 2 Likes |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by Artscollection: 9:25pm On Jan 04 |
Our forex liability is over 7 Billiton usd meaning that the loan no fit achieve anything. Wahala dey ooooo 5 Likes 2 Shares |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by mrrandomguy: 9:35pm On Jan 04 |
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. The mangers of Nigeria are the worst, most incompetent, dumbest, most corrupt individuals in the world. That Ghana will pay 8% interest, while Nigeria will pay 12% tells you that the Nigeria project is a failed project, a failed country. It will be an excruciatingly painful thing to suffer here in Nigeria and end up in hell fire. Accept Jesus today. 10 Likes 1 Share |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by atobs4real(m): 9:37pm On Jan 04 |
How can this work? If fuel is latter sold for ₦149 per barrel, who will lose? 9 ja and 410 are.... |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by atobs4real(m): 9:38pm On Jan 04 |
How can this work? If fuel is latter sold for ₦149 per barrel, who will lose? 9 ja and 410 are.... That deal will benefit same caucus. 1 Like |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by atobs4real(m): 9:38pm On Jan 04 |
How can this work? If fuel is latter sold for ₦149 per barrel, who will lose? 9 ja and 410 are.... That deal will benefit same caucus. Who is afrexim and 9ja? 1 Like |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by sonnie10: 9:39pm On Jan 04 |
And one guy ( MT) here was insisting it wasn’t a loan but a normal business transaction. Why does it come with interest? Some people in NL would lie with so much confidence like they know what most people don’t. 9 Likes 4 Shares |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by boldtruthalways: 9:40pm On Jan 04 |
Nigeria is gone under APC. The country is in for a big mess. Tinubu will cripple Nigeria completely from where Buhari stopped. They were warned but they didint listen. A good leader no matter the tribe he comes from roles our good policies and it affectd everyone in the country. Nothing is left of Nigeria anymore. 7 Likes 1 Share |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by Kukutenla: 9:41pm On Jan 04 |
Toh Where's that zombie MT abi wetin who is claiming that the $3.3bn is not a loan I don't know what they gain from deliberately lying just to defend incompetent people in govt 9 Likes 2 Shares |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by Gboss247(m): 9:43pm On Jan 04 |
Artscollection:An average Nigerian on the streets is still waiting for FDI to add more bundle to the liabilities of $7billion. Nigerian economy needs emergency diversification from oil and gas into other productive sectors such as the technology industry (the backbone of the 21st century economy). Remember that NLNG has also been securitized. 2 Likes |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by sonnie10: 9:47pm On Jan 04 |
Artiiclebeast: About 11 billion dollars. Pay back for a 3 billion loan. It is well 2 Likes 2 Shares |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by Artiiclebeast: 9:50pm On Jan 04 |
sonnie10: Wonderful country. They always never expect the citizens to go this deep in thinking and analyzing every nonsense they dish out. 5 Likes 1 Share |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by paranorman(m): 9:51pm On Jan 04 |
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Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by ATEAMS: 9:58pm On Jan 04 |
Let things work first |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by Kukutenla: 10:01pm On Jan 04 |
sonnie10:That's MT He even claimed it was smart and novel ![]() ![]() Meanwhile from this Op, Ghana is doing exact same thing with cocoa but at lower interest rate 5 Likes 1 Share |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by Simeon88(m): 10:01pm On Jan 04 |
Someone should please educate me, how do you pay $12 billion for a loan of $3billon in just five years. I just weak for this country 6 Likes 1 Share |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by TrumpDonald2: 10:04pm On Jan 04 |
FreeStuffsNG where are you? Come and explain to us how this will increase lGR and how its also direct foreign investment. Heaven knows the amount of corruption in this deal. 4 Likes |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by Yankee101: 10:09pm On Jan 04 |
Even individuals hardly pay double digits internationally on long term loans much less a country Is it compulsory to take such loans? 3 Likes |
Re: Nigeria To Pay 11.85% Interest On $3.3bn Afrexim-nnpc Loan, Pledges 164m Barrels by vanitybutiwanti: 10:10pm On Jan 04 |
Investment bankers and private equity financiers are smiling to the bank, cool $9b profit, won't be surprised if the real loan providers are Nigerians considering that the company was incorporated in a tax haven, Nigeria is a truly a place to make easy money little wonder why everyone wants to be governor or president, once you attain that position, the Generational money making opportunities are boundless, you dont have to steal directly if you're smart 7 Likes 2 Shares |
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