Oil giant, Nigeria National Petroleum Company Limited (NNPCL) on Sunday admitted that its financial strain may affect the sustainability of petrol supply. Its admittance came on the heels of reports that it is indebted to suppliers to the tune of about $6 billion.
I don't know why they lied at first and later admitted. This is very shameful. This government hasn't done well. Petrol is over a thousand naira in some states. What's really happening in Nigeria is beyond embarrassing and it seems the government has lost touch with the realities on ground and don't know what to do anymore.
ReplyDeleteThe hardship keeps biting hard each passing day. Where do we go from here?
President Ahmed Bola Tinubu removed fuel subsidy.
Devalued Naira.
Returned fuel subsidy.
Started paying double of what the past administration paid in fuel subsidy.
Because, the dollar is too high due to the floating of the Naira.
I didn't believe Tinubu could make such economic blunder.
Here we are today and it seems the economic team doesn't have solutions to the many blunders already made.
So pathetic.
© TEEJAY
Tinubu is a huge failure, over hyped Buffon.
DeleteMake we continue to dey deceive ourselves for this country....
DeleteTeejay, the things that surprises me is that some Nigerians don't follow events happening around them until it starts to affect them. I am sure that some Nigerians don't know that NNPC indirectly belongs to shareholders who are now controlling it. Private investors are managing NNPC. Tell me where in any oil producing nation where the state through its agency is not managing their oil resource. I rest my case to allow you to reflect on that....
DeleteAnon 11:16,
DeleteI have followed this NNPC saga for a very long time and also the Dangote refinery brouhaha. The thing is that, there are things we are mindful of posting online. Nigeria isn't a sane clime. Anyone can be picked for dare saying the truth.
Some of us know the subsidiaries of NNPC. Just recently we're reading Warri and Kaduna refineries are about to be privatized. Who are the ones that will eventually get it? Government cronies. I believe that move is to further frustrate and drive Dangote out of business.
Nigeria is a huge joke and a vast crime scene.
© TEEJAY
Why would Nigeria allows investors to buy shares in NNPC? This is number one failure. I know some people would say it would help the government manage the petroleum industry with the money made from the shares sold, but trust me you can't make any reasonable decision without the interest of the shareholders. We should all tighten our belts because it will get harder.
DeleteMay the Lord help Nigeria. 🙏
ReplyDeleteWe've got a lot oolong way to go. This suffer no too much?
ReplyDeleteNo be small Wahala ooo
ReplyDeleteThe hardship is way too Much
May God help us in This Petrol Matter🙏🙏
Hello iya Boys
Tinubu had no business being a president.
ReplyDeleteYou Just forced yourself on people and has been suffering them ever since with your cluelessness.🥴
This is bad
ReplyDeleteIt's well with Nigeria 🙏🏿🙏🏿🙏🏿
ReplyDeleteMay the lord help Nigeria
ReplyDelete