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Nairaland Forum / Nairaland / General / Politics / Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation (8589 Views)
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Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by NwaNimo1(m): 8:04pm On Jul 10 |
The Nigerian National Petroleum Company Limited’s (NNPC) fresh plan to secure $2 billion loan using crude oil pre-payments as collateral has sparked debate and raised questions about its long-term implications for the nation’s economy and Nigeria’s next generation, a demographic crucial for the country’s future prosperity.https://businessday.ng/news/article/rising-appetite-for-oil-for-cash-loans-traps-nigerias-next-generation/ 2 Likes 1 Share
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Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by Standing5(m): 8:10pm On Jul 10 |
That's yahoo on a national and trans-generational scale. Use the glory of the country and their youth to cash out and like ogboni format, flex the money then build one structure as inheritance. Highway is the inheritance here. 44 Likes |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by mightyhaze: 8:11pm On Jul 10 |
AP Shit killed this country from 2015 till date ![]() 29 Likes 1 Share |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by NwaNimo1(m): 8:14pm On Jul 10 |
![]() 2 Likes |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by Racoon(m): 8:41pm On Jul 10 |
“And he that will not apply New Remedies must expect New evil; for time is the greatest innovator.” - Essays of Innovation by Francis BaconBastard clueless but super looter criminals mortgaging this nation to chronic indebtedness and economic slavery. 30 Likes 1 Share |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by leocollins(m): 4:13am On Jul 11 |
Crazy leaders 1 Like |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by Unperturbedpota: 4:17am On Jul 11 |
Lazy Nigerian youth. Keep ranting online don't go and attack those stealing your future. Keep focusing on Davido Wizkid big brother and useless trash. .Kenyan youths did the needful while lazy Nigerian youths keeps sitting down waiting for a Messiah to come and save them ![]() Foolish youths ![]() Tomorrow when Kenyan economy gets to the point where you can never reach it Nigeria. Lazy youths will start arguing who has the better jollof rice between Nigeria and Kenya. Very stupid set of brainless foolish people ![]() 52 Likes 2 Shares |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by WeedAddict: 4:18am On Jul 11 |
See as dem dey steal our resources before our very own eyes and there's absolutely nothing we can do about it, this is so sad ![]() 27 Likes |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by CoronaVirusPro: 4:18am On Jul 11 |
The future has already been sold! I use to be anti japa at some point, but it still cannot change the glaring and feasible reality. Nigeria is heading for the rocks. Do anything you can to leave Nigeria, or get a second citizenship in a safe, ready to leave Nigeria when it finally hits the rocks. The future has been sold, and Nigeria will NEVER get better! 23 Likes |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by DMerciful(m): 4:23am On Jul 11 |
Looting into the future. Buhari started it and Tinubu is sustaining it 11 Likes |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by jeff1993: 4:28am On Jul 11 |
Bbb |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by kennyz247(m): 4:29am On Jul 11 |
The biggest scam to happen to Nigeria is "Tinubu " 15 Likes 1 Share |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by jeff1993: 4:35am On Jul 11 |
That's how they keep mortgaging the future of unborn generations in Nigeria yet some stupee.d Bots here on nairaland like Heli.nues will keep singing their praise cos of 30K stipend. 15 Likes |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by viodemus: 4:38am On Jul 11 |
I talk am say okp*lor eyes dun sell Nigeria. It is worse than this. He has no vision if it's not his personal account percentage transfer. 10 Likes 1 Share |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by Kwaramustgoodag: 4:45am On Jul 11 |
Will soon japa |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by Brendaniel: 4:54am On Jul 11 |
CoronaVirusPro: Are you no longer supporting Tinubu? We warned you guys.... 25 Likes 1 Share |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by Day169: 5:01am On Jul 11 |
There are different sides to a problem, just as there may be different approaches to the solution. I think it's imperative for the government to begin to think out of the box by increasing their other sources of income generation, save for higher taxes, either by boosting non oil exports or reducing the waste in governance. 1 Like |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by Good2go1: 5:05am On Jul 11 |
Shameless criminals in government |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by Raxxye(m): 5:08am On Jul 11 |
Making more money available for looting 1 Like |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by Arostar2023: 5:12am On Jul 11 |
Unperturbedpota: Nigeria is too polarized for that to happen. Don't expect the southern part of Nigeria to anchor that revolution you are asking for. Tribalism and corruption have eaten into the very soul of Nigeria...if ever there should be a civil unrest, we all know the ethnic group that will be blamed for that. Una don enter one chance 11 Likes |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by ClearFlair: 5:26am On Jul 11 |
The world has never seen a party as incompetent as APC 11 Likes 1 Share |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by musicwriter(m): 5:29am On Jul 11 |
Once you realize that colonialism is still ongoing but is now called neo-colonialism, you won't have any problem understanding why we no longer have enough crude oil for ourselves as soon as the Dangote refinery and the others began production. When we had crude oil in abundance, we had no refinery. Now we have refinery but no crude. The world is set up to work that way, in fact, the late two times British prime minister, Winston Churchill, boasted that "that's the way the world should work and will work" Unfortunately, as long as we speak a foreign language and acquire our knowledge with it, those who gave us language and education will continue to manipulate us. The manipulation and exploitation comes from the fact that we trust that everything we've learned is true and is how things should work. That's why we've been easily railroaded into not having crude oil as soon as we got working refineries. Once we use our own language to acquire our own knowledge and believe in our God, they'll lose control over our minds. We'll become truly independent and all types of manipulation and exploitation will end. 17 Likes 2 Shares |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by stevnwigw1: 5:33am On Jul 11 |
Standing5:really, so that's how ogboni works? 1 Like 1 Share |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by magabounce(m): 5:34am On Jul 11 |
This is in addition to the crude already mortgaged for like the next 10 years.. Omò... God please help me leave this Country 8 Likes 1 Share |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by Balistic4: 5:35am On Jul 11 |
CoronaVirusPro: Bro, is asiwaju no longer working on the country? Don't tell me you give up easily. Now you have turn to wailer ![]() ![]() 20 Likes 3 Shares
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Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by Inspirer1: 5:41am On Jul 11 |
Everyone doing their thing.... 1 Like |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by malali: 5:44am On Jul 11 |
The Nigerian National Petroleum Company Limited’s (NNPC) plan to secure a $2 billion loan using crude oil pre-payments as collateral is not just short-sighted, it’s downright foolish. This scheme will undoubtedly burden future generations, the very people we should be protecting and empowering. Despite being Africa’s largest oil producer, Nigeria isn’t maximizing its oil sector’s potential. Instead, it’s locking itself into “oil-for-cash” deals, essentially mortgaging our future for immediate gains. This is akin to a broke man selling off family heirlooms to fund a night out—reckless and unsustainable. Resource-backed loans are like payday loans for countries. They come with high interest rates, short maturities, and are loaded with fees. The terms are almost always in favor of the lender, leaving Nigeria with a raw deal. It’s like a street hawker negotiating with a multi-millionaire—who do you think comes out on top? Experts are clear: prioritizing short-term gains over long-term development jeopardizes our future. Oil-for-cash agreements mean future generations will be saddled with debt, potentially diverting funds away from critical sectors like education and healthcare. Akinwumi Adesina, President of the African Development Bank, rightly pointed out that resource-backed loans are problematic because they can’t be properly priced, and the negotiation power imbalance heavily favors lenders. These loans are riddled with transparency issues and corruption risks, creating a fertile ground for exploitation. In pidgin, “dem go use us shine, we go suffer.” The recent $3.3 billion crude-for-cash loan from Afreximbank already sparked debates about its long-term implications. And yet, here we are, considering another dangerous dance with debt. This isn’t just bad financial planning; it’s like inviting disaster to dinner and offering it a seat at the head of the table. In essence, this move by NNPC is not just a misstep; it’s a giant leap backward. It’s mortgaging our children’s future for temporary relief. We should be investing in sectors that ensure sustainable growth and development, not digging ourselves deeper into a pit of debt. To the Nigerian government, this plan no make sense at all. It’s high time we reject these perilous deals and focus on real, long-term solutions for our country’s prosperity. Let’s not mortgage our future for a fleeting moment of relief. 1 Like 1 Share |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by Risingblue008(m): 5:56am On Jul 11 |
Debt here Debt there Debt all over the country nigeria |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by Wotowotoman: 6:02am On Jul 11 |
Unperturbedpota: Guy, please be the messiah to save Naija na. Abi you sef be lazy Nigerian youth? 🤔 2 Likes |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by gozmok1(m): 6:03am On Jul 11 |
Do you know the sad thing?... Economically Kenya is in a better situation than Nigeria Kenya debt/GDP ------------------------------ 55% Nigeria deby /GDP------------------------------50%+ Kenya revenue --- ---- --- --------- 18.5bn (usd) Nigerian revenue -- --- ------------ 5 bn (usd) Kenya debt service to revenue ---------55% Nigerian debt service to revenue....... 110% Kenya GDP per capita ------ -- ---------2100(usd) Nigeria GDP per capita -- --- --------- 1100(usd) Yet Kenyans are angry Nigerians are relaxing 9 Likes 1 Share |
Re: Rising Appetite For Oil For Cash Loans Traps Nigeria’s Next-Generation by IyfeNamikaze(m): 6:25am On Jul 11 |
musicwriter:As long as you're not actively trying to break up this country you are not freeing yourself from neo colonialism. Yes I fully and completely believe that we're still under colonialism and the symbol of that colonization is NIGERIA. This country needs to be broken in pieces, and let people decide by themselves if they want to merge with other tribes and form a country or confederation . As long as this is not on the table anything else you do is just cosmetics. 5 Likes |
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