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The Nigeria Extractive Industries Transparency Initiative (NEITI) has urged social media influencers in the country to lead the advocacy for massive reforms in the management of the country’s oil, gas and mining sectors.

Chairman of the Communications Committee of NEITI’s National Stakeholders’ Working Group, (NSWG) and veteran journalist Mr. Gbenga Onayiga made the call in Lagos while declaring open a workshop on “The role of New Media in reporting the extractive sector organized for social media influencers in Lagos.

Mr. Onayiga identified social media influencers as critical success factor in NEITI’s public education and enlightenment programmes on prudent management of the country’s natural resources.

“The social media provides suitable platforms for NEITI to deepen its advocacy and engagements with multi-stakeholders especially the younger generation.

The social media platforms will help disseminate basic information and data on the process and benefits of Nigeria’s implementation of the Standards of the global Extractive Industries Transparency Initiative. This is to ensure that revenues from the sector support national development, reduce poverty and rescue the country from the syndrome of resource curse”, Mr. Onayiga stated.

He identified the role of the social media to include dissemination of NEITI audit reports, simplification of issues, citizen’s mobilization, campaign and advocacy for implementation of recommendations, monitoring and evaluation of the results and impacts in the lives of the citizens.

Mr. Onayiga further noted that the task of promoting transparency and accountability by the social media is a role that must not be abdicated. He implored them to observe a high degree of responsibility, objectivity, accuracy, truth, balance, professional and self – regulation, quality content and responsibilityin fulfilling this important role so as to earn public trust.

The Director of Communicationsfor NEITI, Dr. Orji Ogbonnaya Orji while welcoming the participants explained that the workshopwhich is the second in the series of capacity building initiatives for influencers was designed to expose the social media influencers in Lagos to the EITI principles, the emerging global trends and the specific role of influencers in natural resource governance in Nigeria.

Dr. Orji noted that for the social media to effectively play its role, practitioners have to be adequately exposed and enlightened on all aspects of the EITI process, including its benefits and challenges. He urged the participants to take advantage of the presence of experts assembled as resource persons to broaden their knowledge of the EITI and the extractive sector value chain.

The week-long workshop is being attended by leading social media influencers based in Lagos and its environs. The resource persons were drawn from NEITI, development partners, top echelon of the media andthe civil society.

NEITI had in November, 2016, held a similar workshop for social media influencers in Abuja and its environs with the support of the Natural Resource Governance Institute (NRGI).
Dr. Orji Ogbonnaya Orji
Director, Communications

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BON Awards Hosts Memorable Book Reading Of Do As You’re Told Baji

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On November 24th, 2024, the Best of Nollywood (BON) Awards organized a captivating book reading of Do As You’re Told, Baji, authored by the renowned writer Lola Shoneyin. The event, held at 11 a.m. in Kwara State, celebrated the power of storytelling and the importance of fostering a culture of reading among families.

Among the distinguished attendees were the First Lady of Kwara State, Ambassador Olufolake AbdulRazaq, alongside notable figures such as Wole Ojo, Cynthia Clarke, Chioma Okafor, Segun Arinze, and Kemi Adekomi, who added prestige and insight to the event.

In her remarks, Ambassador Olufolake AbdulRazaq highlighted the vital role of parents in fostering a love for reading among children. “Parents should cultivate the habit of reading with their children,” she said. “It’s not just about education—it’s about creating lasting memories and strengthening family bonds.”

The reading of Do As You’re Told, Baji showcased Lola Shoneyin’s vibrant and relatable storytelling, leaving participants inspired to embrace literature as a means of cultural and personal enrichment. The event also featured engaging discussions about the book’s themes, celebrating the depth and diversity of Nigerian literature.

This initiative reinforces the BON Awards’ dedication to promoting the arts, literacy, and the celebration of Nigerian creative talents.

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Nigeria Has Saved $20bn From Subsidy Removal, Naira Float Policies — Finance Minister Edun

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Wale Edun, minister of finance and coordinating minister of the economy, says Nigeria has saved $20 billion from “petrol” subsidy removal and market-based pricing of the foreign exchange rate.

Edun spoke at a ceremony recently held to mark the first 100 days in office of Esther Walso-Jack, head of civil service of the federation, in Abuja.

“An amount of five per cent of GDP is what those two subsidies were costing when there was a subsidy on “PMS”; when there was petroleum product generally for a long time and when there was a subsidy of foreign exchange. Between them, they were costing five percent of GDP,” he said.

“If you say GDP was on average, let’s say $400 billion. We all know what five percent of that is – $20 billion of funds that could be going into infrastructure, health, social services, education.”

Edun said these flows now return into the government’s coffers for further deployment to the aforementioned sectors.

“The real change that has happened with the measures of Mr. President is that nobody can wake up and their target for the day or for the week or the month or the year is to get access to cheap funding, cheap funding exchange from central bank, which they can now flip,” Edun said.

“And overnight, they become wealthy from no value added for doing virtually nothing, except you know the right people. Similarly, they can no longer try and be part of a new peak market and very inefficient “petrol” subsidy regime as a way of making money overnight.”

On May 29, President Bola Tinubu said the “petrol” subsidy regime was over.

Three months later, TheCable reported that Tinubu was considering a “temporary subsidy” on “petrol” as crude oil prices and foreign exchange rates soared.

After several denials of the return of “petrol” subsidy by the authorities, the Nigerian National Petroleum Company (NNPC) Limited, on August 19, said the federal government owes it N7.8 trillion for under-recovery.

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Dangote Refinery Reduces Ex-Depot Price Of Petrol To N970 For Oil Marketers

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The Dangote Petroleum Refinery has announced a reduction in its ex-depot price of premium motor spirit (PMS), also known as “petrol”, to N970 per litre for oil marketers.

This is a cut from the refinery’s N990 ex-depot price announced earlier this month, according to a statement on Sunday.

The slash would help marketers save about N20 on each litre of “petrol” bought from the Lekki-based plant.

Anthony Chiejina, Dangote Group’s chief branding and communications officer, said the move is the refinery’s way of appreciating Nigerians “for their unwavering support in making the refinery a dream come true”.

“In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well-being,” the statement reads.

“While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable.”

“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply.”

On November 11, the Independent Petroleum Marketers Association of Nigeria (IPMAN) reached an agreement with the refinery to lift “petrol” and “diesel” directly.

Abubakar Garima, national president of IPMAN, said the partnership would ensure a steady, affordable supply of “PMS” products nationwide.

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