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FG Reaches Agreement With Oil Producers On Supply Of Crude Oil To Local Refineries

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The federal government, through the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), has struck a deal with oil producers to sell crude oil to local refiners at market prices, resolving a longstanding supply dispute that had strained relationships with international oil companies.

NUPRC CEO Gbenga Komolafe stressed that pricing issues should no longer hinder domestic refining, paving the way for a more harmonious and market-driven approach to crude oil sales.

“We will never allow price strangulation to disincentivise our domestic refining capacity optimisation,” said  Komolafe.

Komolafe highlighted the commission’s commitment to preventing “crude supply profiteering” while ensuring that oil production remains profitable.

To ensure transparency, the NUPRC has requested monthly cargo price quotes on crude oil supply and delivery from both producers and refiners.

The NUPRC aims to balance upstream development with a sustainable domestic energy supply chain, reinforcing its role in fostering a fair and profitable oil production environment.

Recall that earlier in the year, the NUPRC directed local and international oil companies to prioritise the supply of crude oil to local refineries. The regulator further set a target of 483,000 barrels to local refineries with the Dangote refinery expected to receive 325,000 barrels daily.

Additional refineries expected to benefit from the crude oil supply include the Warri and Port Harcourt refineries, which are slated to receive 75,000 and 54,000 barrels of crude oil per day, respectively. Meanwhile, smaller refineries such as Waltersmith, OPAC, and Niger Delta Petroleum Refinery, among others, are set to receive 10,000 barrels per day or less.

Later in April, the NUPRC mandated all oil companies in Nigeria to supply crude oil to domestic refineries that are unable to source it locally. Only after meeting these domestic supply obligations are producers allowed to export crude oil. The Petroleum Industry Act (PIA) mandates that international oil companies must first meet local demand by supplying crude oil to domestic refineries before exporting any surplus.

However, last month, Devakumar Edwin, the Vice President of Oil and Gas at Dangote Industries Limited (DIL), accused International Oil Companies (IOCs) in Nigeria of deliberately attempting to undermine the Dangote Oil Refinery and Petrochemicals.

Edwin asserted that the IOCs are intentionally obstructing the refinery’s efforts to purchase local crude by inflating premium prices above market rates. This forces the refinery to import crude from distant countries such as the United States, resulting in significantly higher costs.

Nigerians expected the 650,000 barrels Dangote refinery to significantly or end the country’s petrol import dependence in the era of post-subsidy removal.

BIG STORY

Nigeria’s Economy Improving Under President Tinubu — Information Minister Mohammed Idris

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The Federal Government says Nigeria’s economy is on a path of steady recovery under President Bola Tinubu, attributing the progress to the administration’s broad reforms.

Minister of Information and National Orientation, Mohammed Idris, made the comment on Wednesday in Abuja during a visit by members and newly elected executives of the Nigerian Guild of Editors.

In a statement issued by his Special Assistant on Media, Idris acknowledged that while Nigeria’s economy was not yet in “El-dorado”, the country was recording tangible progress. He added that international rating agencies were beginning to acknowledge the economic direction.

“The economy is not yet what we want it to be but we can see that there is a steady progression. The President has said over and over again that we are turning the corner. I know that many people will say it’s not yet El-dorado. Yes! I also agree but you cannot always say that there is no progress.

“Even all the rating agencies in the world are also giving Nigeria some pass marks. We are seeing some upward ticks in the way our economy is being managed,” he said.

He cited major reforms such as the removal of fuel subsidy and the unification of foreign exchange rates as key policies already showing positive results.

He explained that although these measures are tough, they are part of a broader plan to stabilise and grow the economy over time.

Idris also described the Students Loan Scheme as a major social investment initiative of the administration, noting that about 300,000 students are currently benefiting.

“Because of this deliberate, intentional policy of the government, over 300,000 Nigerian students who hitherto were out of school or could have been out of school, now have the opportunity to be in school because the government is paying for their tuition and upkeep. This is unprecedented,” Idris stated.

Speaking on security, Idris said the government was making “sustained successes” in addressing violent crime and restoring peace in troubled areas.

He urged the media to support the military and other security agencies, warning against giving prominence to criminal groups.

“I have always said that it is not good for us as media practitioners to place emphasis or premium on these criminals, gangsters and terrorists or bandits or whatever they are, over and above the citizens of this country,” he said.

He said news coverage should highlight the courage and sacrifices of Nigeria’s security personnel alongside any challenges.

“We must amplify these achievements, particularly in the context of condemning the actions of criminal groups and motivating the Armed Forces,” Idris said.

He acknowledged that the media plays a role in holding government accountable but called for balanced reporting that includes the government’s successes.

He promised to review the Law Reform Report presented by the Guild and work with the Minister of Justice and Attorney General of the Federation to address outdated legal provisions.

Idris restated the administration’s commitment to press freedom and freedom of expression, describing them as “the cornerstone of the nation’s democracy.”

He encouraged media professionals to exercise their rights with patriotism and responsibility, and assured the Guild of the government’s readiness to partner closely with the media.

Earlier, Deputy President of the Nigerian Guild of Editors, Sebastian Abu, said the delegation presented the Law Reform Committee’s report to highlight outdated laws that need revision or repeal to promote a freer media environment.

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I Was Blacklisted For Rejecting Sexual Advances — Actress Moji Afolayan

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Veteran Nollywood actress Moji Afolayan has revealed that she was blacklisted by movie marketers after refusing their sexual advances.

In a recent interview on Oyinmomo TV, which gained traction on Wednesday, the 57-year-old actress and daughter of the late iconic actor Adeyemi ‘Adeluv’ Afolayan, disclosed that turning down the “casting couch” culture cost her fame and acting opportunities.

“This is because, at that time, when we had marketers at Idumota, they used to give producers money to work. However, due to the kind of training I received at home, I cannot trade my body for movies.

“My husband, who married me, has not even done anything. You will notice that I am trying to speak in proverbs,” she said.

Moji said that after declining their advances, marketers held a meeting and agreed to stop offering her roles.

“Because I did not do it, they held a meeting among themselves not to call me. I did not sleep with them. I did not offer my body for sex,” she said.

She also pointed out that some married actresses engaged in the practice while hiding it from their spouses.

“They are all watching this programme. People who are doing it are doing it. Many of them will have their husbands outside while the wives will be with them inside. I am exposing their secrets now.

“They would tell me, ‘is it only my husband?’ I was like is it because you want to help. Then you would have to hold on to your help.

“I thank God I stood with my dignity. That is what I am enjoying today. I held on to my virginity. I stand out among them now. I have only received mercy. They made them stars. Their posters were all around.

“But when they tried to stand alone, there was a great fight, which was bound to happen in that kind of relationship. I did not inform my husband at the time.

“It was because I did not offer myself for sex that they denied me movie roles,” she said.

Moji, who is married to fellow actor Rasaq ‘Ojopagogo’ Olayiwola, also recounted how a now-deceased colleague faced similar rejection after refusing a marketer’s request.

“I was not the only person they did it to. There was one person who was late now, took her job to a marketer there at Arena, but it was turned down.

“The lady at the time told me to continue with my nobility. She narrated how the marketer told her how he had slept with in the industry.

“They now know how it feels. They have made us social media-friendly. They have pushed us to put movies on YouTube.

“It affected me in terms of income and fame. I cherish my body more than anything. Even my husband knows,” she said.

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Police Announce Movement Restriction For Lagos Local Government Polls On Saturday

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Olohundare Jimoh, the commissioner of police in Lagos, has directed the deployment of personnel across the state ahead of the LG elections set for July 12.

Benjamin Hundeyin, the police spokesperson in Lagos, said in a statement on Wednesday that the commissioner gave the order to ensure the election proceeds without any disruptions.

Hundeyin also announced that vehicle movement would be restricted statewide from 3am to 3pm on Saturday. The restriction applies to both road and water transport.

“Elaborate security arrangements and comprehensive security measures have been put in place to ensure security, safety, and peaceful and orderly conduct of the LG elections,” the statement reads.

“Police escorts covered number plates, and the use of sirens at or in the vicinity of polling units and collation centres are prohibited.”

He stated that the police would be working alongside other bodies under the inter-agency consultative committee on election security (ICCES).

He noted that only vehicles designated for essential services, such as ambulances, fire trucks, and patrol vans of ICCES security agencies, would be allowed on the roads.

“All other vehicles, including those belonging to any quasi-security outfit and state security agencies, are barred from movement, as no state-owned security agency is authorised to participate in the election security operations, in line with the electoral act,” Hundeyin said.

He explained that medical personnel on emergency duty, LASIEC-accredited officials, election observers, and journalists cleared by the electoral body are not affected by the restriction.

“These categories of groups and individuals are permitted to carry out their lawful duties during the election period, provided they adhere to all the relevant guidelines and regulations in the electoral act,” he said.

He emphasized that only those wearing official LASIEC accreditation tags would be allowed near polling areas.

“No one without the identification tag will be allowed to take part in the election,” he said.

“Anyone arrested without an identification tag will be investigated and prosecuted in line with the Electoral Act.”

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