The tax man turned minister, with access to vital information, isn't qualified to lecture us on this topic, but one Uche, who sells glasses and doesn't have access to the same information, deems himself qualified to lecture us on the very topic
@E__Onoja 👍
The Tax Expert Turned Petroleum Minister Trying To Be Smart By Half
"We don't have 700,000 barrels of crude to give Dangote refinery for now ..." ~ Minister of Finance
First, I don't know when a tax expert turned Finance Minister now equally turns oil and gas expert and Minister of Petroleum - to be the one in the best position to discuss and lecture Nigerians on petroleum matters.
That aside, if it is the Atiku production subsidy plan that the Finance Minister is trying to discredit in this interview on @channelstv, then he clearly missed the mark.
The Atiku Production Subsidy plan is not asking us, neither would it require us to give the Dangote refinery 700,000 barrels of crude per day.
That is a mischievous submission aimed at misleading and emotionally blackmailing Nigerians.
The Dangote refinery itself knew that it couldn't realistically - at least in the short run - depend 100% (or solely) on domestic crude to run its 695,00bpd - now higher - capacity refinery.
It always knew it would need to augment with imported crude.
A question that should be asked is, why does the Dangote refinery have to import upwards of 80% of it's crude need?
The PIA that they love to mouth has provision for crude for domestic consumption. Why are they not respecting that?
It is mischievous to suggest to Nigerians that the only reason Dangote refinery is sourcing crude from abroad is because we don't have enough crude to sell more than the quantity we are selling to it.
The other truth that they won't tell you, is that, the way and manner the pricing is being handled puts Dangote refinery in a position where it finds it more convenient to buy from outside.
That definitely wasn't the intention and expection when we pulled all the stops to support the refinery to completion. The question should be, why?
Beyond those, the critical questions that the Minister (and the administration) needs to answer are:
1. How much crude do we need for refining for domestic consumption? It's not 700,000 barrels per day. It is much lower than that. It has variously been put in the neighbourhood of 300,000 bpd (maybe less).
That's what the Atiku subsidy plan is concerned with - not 700,000 barrels/day.
2. How much oil is our own today after the deductions? The Minister mentioned 100,000 barrels which was in the past according to him. When asked how much it today, he said he doesn't have the figure.
That is critical to the honest conversation. If he doesn't have that figure, how can he legitimately have that conversation?
Meanwhile, the Minister smartly avoided saying that the Tinubu administration itself entered into forward crude sale agreement - Project Gazelle - worth $3.3 billion with the AFREXIM Bank in August 2023, which is one of the most significant crude-backed financing structure that we have.
Under that arrangement, NNPCL under President Tinubu agreed to supply 90,000 barrels of crude per day from Production Sharing Contract (PSC) assets.
As of the time that this administration went into the Project Gazelle arrangement in 2023, I couldn't find evidence that there was more than about $1.5B worth of forward-crude-sale that the administration inherited - which was being duly serviced by its predecessor. So, who is fooling who?
Why did the Minister leave off that significant information?
The government and NNPCL need to come clean with Nigerians on our daily crude for loan obligations. The actual figures - as significant as they are - tell a different story.
It is a problem when a government cannot be honest, transparent and forthright with its citizens - instead of cold bloodedly and calmly lying to them or trying to hoodwink them.
Unfortunately, that is an art that this administration has perfected.
The administration has clearly shown that it has neither the sincerity nor the capacity to handle these issues and to solve Nigeria's problem. It's time for it to give way & I'm glad that the majority of Nigerians have realised it.
UK households are nearly £3,000 worse off🇬🇧
A new study says the cost of living crisis has left the average household £2,900 worse off over the past five years.
That’s a lot of money😩
That’s a holiday, a car or six months of groceries gone
Barclays is currently offering £300 if you switch your current account to them 🇬🇧
There’s also Santander at £240, HSBC at £220, First Direct at £210 and a few others around the £200
If you earn enough to qualify for a Premier account, Barclays is paying up to £600 and HSBC/NatWest are offering £500
Just putting it out there in case someone’s thinking of switching banks 👀
@Jojo_agboola Honestly, same. We probably didn’t realise how much those childhood habits could affect us later. At least we know better now, so we can make different choices going forward.
They rationed sugar after the war and the generation raised on almost none of it is still healthier 70 years later🇬🇧
Lower diabetes.
Lower blood pressure.
Slower ageing.
Even less anxiety.
Now we’ve got kids growing up surrounded by sugary cereals, drinks, snacks and “healthy” foods.
We know excess sugar harms health.
So why are kids still surrounded by it?
@Jojo_agboola This is why conversations about boundaries and consent need to start early. Children should know what is acceptable, what is not, and most importantly, that they can always come to their parents without fear of being judged.
UK parents did you know this? 🇬🇧
A Guardian investigation analysing police data from England and Wales found thousands of sexual offences against children recorded on or near school premises between 2021 and 2025.
And what shocked me most? In many cases the alleged perpetrator was another child😲
This is deeply disturbing.
Please talk to your children about boundaries, consent and inappropriate behaviour even when it comes from another child.
Most importantly, make sure they trust you enough to tell you everything if something feels wrong.
Keep the conversation going❤️