The Presidency has reacted to the 2023 Peoples Democratic Party (PDP) presidential candidate, Atiku Abubakar’s, remark regarding President Bola Tinubu’s $3.3 billion emergency crude repayment loan secured by the Nigeria National Petroleum Company, NNPCL.
Atiku said Tinubu’s administration owes Nigerians an explanation over a $3.3 billion loan secured by the NNPCL.
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Recall that on August 16, 2023, the current administration secured the loan through the NNPC with the Apex Petroleum Company, saying it was to help give support to the naira and stabilize the foreign exchange market.
Atiku said the curious thing about this transaction is that, up until now, the Federal Government has continued to keep mum about it, with the only information available to the public on the mega deal coming only through unofficial sources from the NNPCL.
The deal is supposed to be a crude-for-cash loan arranged by the African Export-Import Bank.
Reacting, Tinubu’s Senior Special Assistant on Digital/New Media, Otega Ogra, said the president has educated Nigerians on the issues of the loan.
Posting on X, Ogra wrote: “Dear VP @atiku (1999-2007),
“President Bola Tinubu’s administration has taken the time to educate all Nigerians further on the loan at various times – the latest being four days ago.
“We also enjoin you, sir, to please share your thoughts on the medium post, which is more comprehensive. Thank you, Your Excellency.