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Nairaland Forum / Nairaland / General / Politics / As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out (7496 Views)
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As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by 4Play(m): 3:05am On Jul 05 |
Nigeria's debt to gasoline suppliers has surpassed $6 billion - doubling since early April - as state oil firm NNPC struggles to cover the gap between fixed pump prices and international fuel costs, six industry sources said. https://www.reuters.com/business/energy/nigerias-gasoline-debt-hits-6-billion-some-traders-back-out-say-sources-2024-07-04/ 1 Like
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Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by kutenhp69: 3:29am On Jul 05 |
Hmm . |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by Smithkafors(m): 4:22am On Jul 05 |
Nawao. Things are not looking good. 8 Likes |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by Jamie248: 5:26am On Jul 05 |
Mele Kyari |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by WeddingParol: 6:04am On Jul 05 |
Who are the suppliers? The same cabal incharge of fuel subsidy from time immemorial. They will always sort things out at the detriment of our collective resources. Truth be told, Tinubu's policies were hurriedly pronounced and poorly implemented. 43 Likes 5 Shares |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by SalamRushdie: 6:06am On Jul 05 |
Tinubu has completely lost control , getting deeper and deeper into mess while he tries to pretend he is not paying subsidy 9 Likes |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by Finegirl734(f): 6:19am On Jul 05 |
The rest should move forward ![]() |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by Faiththatworks(m): 6:45am On Jul 05 |
This is terrible news for Nigeria. It simply means we can't meet up with our financial obligations to our international partners, meaning expect fuel scarcity very soon. However,any right thinking Nigerian will think this report will motivate NNPCL to quickly work on the Refineries or in the short run, mandate Oil companies to supply Dangote Refinery all the crude it needs to supply all our needs as a nation but the reverse will be the case. Asiwaju must mandate an end to Importation of Refined products the day Dangote pumps put its first liter of petrol. He should also conduct an audit of Petrol Importation in the last 10 years,the figures I see this morning is alarming,how can Nigeria owe 6 billion dollars on petrol subsidy when our total budget for 2024 is around 23 billion dollars, enough of the madness going on in that cesspit of Corruption called NNPCL. God bless Nigeria. 8 Likes |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by Gandah(m): 6:48am On Jul 05 |
G |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by EdiskyHarry: 6:49am On Jul 05 |
Tinubu is worse than earthquake, wild fire, hurricane, flood or even the worst natural disaster. All he cares about is Money and the next election, he doesn't care if the masses are dying in millions daily due to hunger or hardship. 13 Likes |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by SaLongs1(m): 6:49am On Jul 05 |
This government must be very stupid. 6 Likes |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by adebayo201: 6:50am On Jul 05 |
What a country... |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by StreetFight: 6:51am On Jul 05 |
We dey watch as e dey go |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by Solidex(m): 6:54am On Jul 05 |
Lord, help me to leave this country. The situation here is getting more scary by the day. 2 Likes |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by Ojuntana: 6:55am On Jul 05 |
Zombies said the order to make CBN handle oil receipts though illegal will lead to more transparency and increased revenue What is happening here? Zombies are daft!! 8 Likes 3 Shares |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by StreetFight: 6:56am On Jul 05 |
WeddingParol: You are right from your perspective, but when shall we implement it? We have been in it since Abacha's regime, how long will it take us to plan and prepare for it? Somebody just has to do it, if not the gang of thieves will keep on looking our treasury through Fuel Subsidy and FOREX. |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by Sheuns(m): 6:58am On Jul 05 |
Subsidy is gone in the mud. It’s not that you give Nigerians these petrol for free. Why the hell do you owe the suppliers this much? 4 Likes 2 Shares |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by Ojuntana: 6:59am On Jul 05 |
Faiththatworks:We have three budgets running and one incoming so it is statistically incorrect to say our total budget is $23bn. Even if the refineries start working and you pump all your 1.3mbpd to them, how then do you get forex which comes from same crude sales. You see the dilemma now? 4 Likes 1 Share |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by EmeeNaka: 6:59am On Jul 05 |
E dey patch, e dey leak 1 Like |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by StreetFight: 7:02am On Jul 05 |
EmeeNaka: You are right, but we will keep patching till we seal the leakage |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by iLoveYouToo(m): 7:02am On Jul 05 |
People are really milking this country dry. Wow! 4 Likes 1 Share |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by maasoap(m): 7:08am On Jul 05 |
When Buhari was selling N200 per litre, how much was the subsidy on a litre? Now, most filling stations are selling N700 per litre, how much is Tinubu adding to a litre in form of subsidy? The more you look, the less you see. 13 Likes 1 Share |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by anonimi: 7:10am On Jul 05 |
4Play: How and why did we let Buhari, Tinubu and APC take us to the cleaners like this? What manner of tomfoolery is this? What is the impact of this on fuel queues ![]() 6 Likes 3 Shares |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by maasoap(m): 7:11am On Jul 05 |
WeddingParol: Someone who has not sit down for a day in office to study what's on ground hurriedly announced a major policy change. A major policy change that wasn't even part of his inaugural speech!! 5 Likes 2 Shares |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by Ojuntana: 7:18am On Jul 05 |
StreetFight:You're not really bright. You could not see the point I made about the nexus between oil receipts being handled by CBN and NNPCL's inability to clear fuel imports. Does it not point to the fact that NNPCL is technically broke? Meanwhile did you see in the report that they incur an extra cost of $250k for every delay? Yet the best you can come up with is Street fights. Pity 8 Likes 1 Share |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by anonimi: 7:23am On Jul 05 |
maasoap: It's just the game of playing politics that Fayemi confessed about their 2012 Ojota deregulation protests that is continuing. How did smart people like Femi Kuti, Femi Falana, Pastor Tunde Bakare etc fall mugu for such dirty tricks by A-looter Propaganda Conmen, APC ![]() Omooba77: 2 Likes |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by Unperturbedpota: 7:24am On Jul 05 |
Atiku was right when he said the FG should scrap NNPC ,Unfortunately I was among those who abuse him then. Now I know better.because it seems until. NNPC is scrapped our oil industry won't progress. We will keep having all these sort of ridiculous experiences, just imagine we have oil yet dangote has to import crude to refine. The Fulani mafia are controlling the NNPC , and they don't want Dangote refinery to drop the price of fuel just so we continue hating Tinubu. Even though Tinubu is a mandate thief but it's beginning to become clear what's going on . ![]() ![]() 4 Likes 2 Shares |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by anonimi: 7:26am On Jul 05 |
adebayo201: What a people of tribesmen tribal bigots with no clue about their collective socioeconomic interests. 4 Likes 1 Share |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by keymatt(m): 7:26am On Jul 05 |
We Agbadorians don't see any debt because our god Tinubu is president. ![]() ![]() ![]() 6 Likes 1 Share |
Re: As Nigeria's Gasoline Debt Hits $6 Billion, Some Traders Back Out by timota(m): 7:28am On Jul 05 |
Sheuns:Subsidy is not gone,floating of naira brought back subsidy cos fuel is sold in dollars,govt is secretly paying subsidy and is higher than what they were paying before removal of subsidy 3 Likes |
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