Post #554

🔵Welcome to Nigeria’s Pre-election Year of 2026!🔵 The first symptoms are already visible ✔️Just a few days ago, Nigeria’s electoral commission announced the 2027 presidential election date — and now, President Tinubu has suddenly demanded that the state oil corporation NNPC hand over to the state some 80% of its revenue, according to Africa Confidential. 💲 If this is true, the president seems determined to boost Nigeria’s budget spending in the pre-election year. And NNPC, which just days ago reported a $4.3 billion profit for 2025, might seem like a perfectly logical piggy bank for such whims. There’s just one catch: at the very end of December, Tinubu himself wrote off about $1.4 billion of NNPC’s debt to the government—and since then, the corporation has already announced it needs $22 billion to fund future gas infrastructure projects. Such an opportunistic approach in the run-up for elections is characteristic of any government on Earth. Yet. the wellbeing of millions of citizens still depends on whether the government can efficiently run the country's oil and gas sector. If the December decision to write off NNPC's debts was aimed at giving the corporation a chance for brand new start, then it mustn't be treated now as a source of pocket money. ➡️ Stay informed - @devilsbelow