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Dangote Refinery Will Sell Petrol To Only NNPC, Distribution Starts Sunday — Federal Government

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The Federal Government has confirmed that Dangote Petroleum Refinery will start distributing premium motor spirit (PMS), or petrol, on Sunday.

Finance Minister and Coordinating Minister of the Economy, Wale Edun, made the announcement Friday at a press conference in Abuja.

Represented by Federal Inland Revenue Service (FIRS) Executive Chairman, Zacch Adedeji, Edun stated that all necessary agreements are in place for the loading of the initial petrol batch.

“I am glad to announce that all agreements have been completed and loading of the first batch of PMS from the Dangote Refinery will commence on Sunday, September 15,” Edun said.

The minister said the Nigerian National Petroleum Company (NNPC) Limited will supply about 385,000 barrels of crude oil per day (bpd) to the Dangote refinery starting next month.

“From October 1, NNPC Ltd. will commence the supply of about 385,000 bpd of crude oil to the Dangote refinery, to be paid for in naira,” he said.

“In return, the Dangote refinery will supply PMS and diesel of equivalent value to the domestic market, to be paid in naira.”

 

  • ‘Dangote Refinery Will Sell Pms To Only NNPC’

Edun also said the Dangote refinery will sell petrol to only the NNPC, noting that interested marketers would have to buy the product from the national oil firm.

However, the minister said the Dangote refinery can sell diesel to any off-taker.

“Diesel will be sold in naira by the Dangote refinery to any interested off-taker. PMS will only be sold to NNPC, NNPC will then sell to various marketers for now,” he said.

Edun’s statement contradicts NNPC’s claim on September 7 that it does not intend to be the sole distributor of petrol produced by the Dangote refinery.

In addition, the minister said all associated regulatory costs pertaining to the Nigeria Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA) and others would also be paid for in naira.

“We are also setting up a one-stop shop that will coordinate service provision from all regulatory, and security agencies, and other stakeholders to ensure a smooth implementation of this initiative. This will be located in Nigeria Ports Authority (NPA), Lagos,” Edun said.

“The technical committee that worked to flesh out this initiative will transition to an implementation execution and monitoring committee that will be working out of Lagos for the next three to six months.”

 

  • ‘Crude Oil Sale In Naira Will Reduce Cost, Pressure On Local Currency’

Speaking on the approval to sell crude oil to local refineries in naira and purchase petrol from the refiners in the local currency, Edun said the decision would reduce pressure on the local currency.

On July 29, the federal executive council (FEC) approved a proposal by President Bola Tinubu directing the NNPC to sell crude oil to the Dangote refinery and other refineries in naira.

The minister said the move would also eliminate unnecessary transaction costs, and improve the availability of petroleum products in the country.

According to Edun, the implementation committee chaired by him, and the other technical committee had worked intensely with the NNPC and Dangote refinery to fashion out the details of the modalities for the implementation of the approval by the FEC.

Edun thanked Tinubu for championing the initiative and assured the president that he could count on the committee to implement his vision.

BIG STORY

400 Sex Tapes: Equatorial Guinea’s Baltasar Remanded In Prison

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The former Director-General of the National Financial Investigation Agency in Equatorial Guinea, Baltasar Engonga, has been remanded in Malabo’s Black Beach Prison.

The embattled former anti-graft chief was arrested days ago for allegedly recording over 400 sex tapes involving the wives of prominent figures in the country.

This scandal surfaced during a fraud investigation into the 54-year-old economist, resulting in an impromptu search of his home and office by ANIF officials, who reportedly discovered several CDs that revealed his sexual encounters with different married women.

As the footage leaked online, causing a media uproar, Equatorial Guinea’s President, Obiang Nguema Mbasogo, dismissed Engonga.

According to Decree No. 118/2024, dated 4th November, the dismissal was due to “irregularities committed in the exercise of his functions, as well as inappropriate family and social conduct for the performance of public duties.”

A viral video surfaced on social media on Friday, showing Engonga handcuffed on both hands and legs during a court appearance.

Confirming the situation, French online blog Afrikmatin reported that Engonga, who was officially removed from his role on November 6, 2024, was subsequently chained and transferred to Malabo Central Prison. He faces charges of corruption and embezzlement.

Additionally, online newspaper UGStandard reported that the sex tapes began circulating on social networks while Engonga was already held at Malabo’s notorious Black Beach Prison on charges of embezzling public funds, as reported by state television, TVGE.

In a fact-checking report published Wednesday, Dubawa verified that Engonga had indeed been taken into custody on corruption charges and is currently being held in Black Beach Prison.

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BIG STORY

JAPA: Canada Tightens Visa Rules, Ends Automatic 10-Year Multiple-Entry Visas

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Canada will no longer automatically grant 10-year multiple-entry visas to tourists, according to new guidelines issued by Immigration, Refugees and Citizenship Canada.

This decision marks a shift from the previous practice where eligible visitors were routinely issued long-term visas, permitting multiple entries over a decade.

Under the revised rules, immigration officers now have discretion to issue visas with shorter durations based on individual assessments.

Instead of a default extended validity period, each application will be evaluated on a case-by-case basis.

Officers can decide whether to grant a single-entry or multiple-entry visa and determine its duration, moving away from the automatic issuance of maximum-validity multiple-entry visas.

“Guidance has been updated to indicate that multiple-entry visas issued to maximum validity are no longer considered to be the standard document. Officers may exercise their judgement in deciding whether to issue a single or multiple-entry visa and in determining the validity period,” said the IRCC.

The IRCC explained that this change is part of a broader strategy aimed at managing temporary immigration levels while addressing ongoing challenges such as housing shortages and rising living costs.

The policy adjustment reflects the Canadian government’s efforts to adapt its immigration approach in response to economic and infrastructure pressures.

Previously, Canada offered two types of tourist visas: multiple-entry and single-entry. Applicants were generally considered for the multiple-entry visa, which allowed them to visit the country multiple times over a period of up to 10 years or until one month before their passport’s expiration date.

Single-entry visas, issued for specific situations like official visits or participation in single events, were less common.

Now, with the updated guidance, maximum-validity multiple-entry visas will no longer be the standard offering.

Immigration officers will exercise their judgement to decide on the appropriate type and duration of the visa, tailoring it to the specific needs and circumstances of the traveller.

The application fee for a Canadian visitor visa remains unchanged at CAD 100 per person, with no difference in cost between single-entry and multiple-entry options.

However, the shift may result in increased application costs for frequent travellers, who might need to apply more often due to shorter-term visas.

This policy change is part of a wider effort to balance immigration levels with Canada’s current infrastructure capabilities.

Other measures announced include a reduction in the target for permanent resident admissions, which will drop from 500,000 in 2025 to 395,000, with further decreases planned for 2026 and 2027.

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MC Oluomo Elected NURTW National President

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Former Chairman of the National Union of Road Transport Workers, Lagos State Chapter, Mr. Musiliu Akinsanya, popularly known as “MC Oluomo,” was elected the new National President of the Union on Saturday.

Akinsanya was the sole candidate in the election, which took place at the Union’s Zonal Secretariat along the Osogbo/Ikirun road.

Delegates from the four Southwest states of Lagos, Ogun, Ondo, and Ekiti participated in the election.

The election, held during the Union’s Quadrennial Delegate Conference, was monitored and observed by the acting National President of the group, Aliyu Issa-Ore.

Issa-Ore, addressing the gathering, explained that the Union’s Constitution stipulates that the zone permitted to fill the national president’s position would elect its preferred candidate and present them to the national body.

The acting NURTW President, represented by Mrs. Adedamola Salam, Head of Finance at the National Headquarters in Abuja, added, “The Southwest zone has fully complied with the Constitution in electing Oluomo as President.

The delegates also elected Tajudeen Agbede as Vice President, Southwest, while Akeem Adeosun was chosen as Trustee from the Zone.

Shortly after taking the oath of office, Akinsanya, surrounded by associates and family members, called for peace and pledged to work towards unity among members.

He further stated, “I have forgiven everyone who has offended me, and I hope those I have offended will forgive me as well.

“This is our union, and we must be committed to preserving it. We will not allow anyone to destroy our means of livelihood.”

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