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President Tinubu’s Panel, Dangote Refinery Agree On September Petrol Rollout

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The Federal Government’s committee, established to facilitate the sale of crude oil to local refineries in naira, has reached an agreement with Dangote Petroleum Refinery to commence the rollout of Premium Motor Spirit (petrol) in September 2024.

Additionally, the government announced that the sale of crude oil to Dangote Refinery and other local refineries will begin on October 1, 2024.

This was disclosed by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, during a meeting with the Implementation Committee in Abuja.

The meeting aimed to review progress on key initiatives and outlined crucial roles for stakeholders, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Central Bank of Nigeria, Nigerian Upstream Petroleum Regulatory Commission, and the African Export-Import Bank, to ensure a seamless implementation process.

The post read, “The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, today led the Implementation Committee meeting on the transition to crude oil sales in naira.

“The meeting reviewed progress on key initiatives, including the upcoming commencement of naira payments for crude oil sales to the Dangote Refinery starting October 1, 2024.”

Also, the Executive Chairman of the Federal Inland Revenue Service, Dr Zacch Adedeji, and the Chairman of the Technical Sub-Committee reported that “The first PMS delivery from Dangote is expected next month under existing agreements.”

It also stated that updates on the Port Harcourt and Dangote Refineries were also provided, with significant production increases expected from November 2024.

The minister emphasised the need for transparency and directed the Technical Sub-Committee to finalize details and prepare a report for the President, confirming that his directives are on track for implementation from September.

Recall that the Federal Executive Council had on July 29 okayed President Tinubu’s proposal for NNPC to halt the sale of crude oil to local refineries in foreign currency.

The Federal Executive Council approved that the 450,000 barrels meant for domestic consumption be offered in Naira to Nigerian refineries, using the Dangote refinery as a pilot.

The move is to ensure the stability of the pump price of refined fuel and the dollar-naira exchange rate.

Findings show that Dangote Refinery, at the moment, requires 15 cargoes of crude oil yearly.

In response, the finance minister inaugurated a technical sub-committee tasked with developing the framework for the sale of crude oil to local refineries in naira.

Monday’s meeting marks the second to be held in seven days.

Recently, local refineries said they had yet to start buying crude oil in naira.

The Crude Oil Refiners Association of Nigeria said letters were written to the NNPC.

The Publicity Secretary of the Crude Oil Refiners Association of Nigeria, Eche Idoko, told our correspondent last week that a meeting was held to that effect.

He disclosed that CORAN is asking for a crude supply contract with refineries that are operating and a conditional crude supply contract with those who are currently at ATC (Authority To Construct) and construction stages to enable the close out on their final investment decisions and bring their refineries to full operation.

The CORAN spokesperson has earlier stated that the supply of crude to local refineries in naira would bring down the cost of petrol and strengthen the naira against the dollar.

Idoko, who commended Tinubu for listening to the voice of indigenous refiners, however, pleaded that an executive order should be issued on the new directive.

Dangote refinery and other domestic refiners have been complaining about the difficulties associated with accessing crude oil for their plants. Recently, the management of Dangote Group insisted that the IOCs were still frustrating crude supply to the 650,000-capacity refinery.

In a statement, the group alleged that the IOCs insisted on selling crude oil to its refinery through their foreign agents, saying the local price of crude will continue to increase because the trading arms offer cargoes at $2 to $4 per barrel, above NUPRC official price.

The group also alleged that the foreign oil producers seem to be prioritising Asian countries in selling the crude they produce in Nigeria.

It was gathered that the Dangote refinery engaged in an exchange of words with the NUPRC over the alleged supply of 29 million barrels of crude oil to the refinery.

Meanwhile, the Arewa Consultative Forum has thrown its weight behind the Dangote Petroleum Refinery  amidst emerging controversies surrounding the facility.

In a statement by its National Publicity Secretary, Prof Tukur Muhammad-Baba, issued to newsmen in Kaduna on Monday, the ACF expressed concern over the negative debates and controversies surrounding the world-class facility, which it described as a source of national pride.

“The ACF delegation, which visited the facility on July 30, 2024, was impressed by its sophisticated quality testing and control laboratories, which meet and surpass global industry standards,” it said.

The forum hailed Aliko Dangote, the initiator and promoter of DPRPI, as a courageous, visionary, and patriotic entrepreneur worthy of commendation and support.

BIG STORY

Obasa Redeems N100,000 Cash Promise To 500 Secondary School Students

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For 500 students from public schools across Lagos’ six education districts, Christmas arrived early. During events marking his birthday in November, Rt. Hon. (Dr) Mudashiru Obasa, Speaker of the Lagos State House of Assembly, promised a cash gift of ₦100,000 to each student who attended to celebrate with him, sparking waves of excitement among them. Speaker Obasa has redeemed his promise, giving the students a December to remember.

Dr. (Mrs.) Sherifat Abiodun Adedoyin, a member of the Lagos State Universal Basic Education Board (LASUBEB), announced the redemption of the cash gift. “Rt. Hon. (Dr.) Mudashiru Ajayi Obasa, Speaker of the Lagos State House of Assembly, has graciously redeemed his promise of ₦100,000 each for 500 students across Lagos State. This generous commitment was made during his recent birthday celebration on November 11, 2025, and it truly highlights his steadfast dedication to enhancing education and the well-being of children in Lagos State.”

Adedoyin stated further, “We deeply appreciate this wonderful gesture, which will significantly help meet the educational needs of the students and promote academic excellence. May this act of kindness continue to inspire hope and create a positive impact in our community.”

The ₦50 Million Educational Support, according to the Speaker, is an investment in the future of the public secondary school students, representing invaluable opportunities for education, vocational training, and entrepreneurship.

Indeed, at the pre-birthday event, themed “The Youth: Striving to Greater Heights,” which brought together students from across the state, Speaker Obasa’s empowerment initiative turned a personal milestone into a defining moment for youth development in the state.

He also seized the opportunity to inspire and challenge the youth, reminding them that challenges harbour lots of opportunities and that it takes laser-like focus, perseverance, and a steadfast faith in God to pull through.

“This personal journey is not just my story; it is a message to every young person here and those watching across various platforms. It is a wake-up call- a call to rise, to believe in yourself, and pursue your dreams with passion and determination.

“The sky is not the limit; it is only the beginning when you choose to unlock your potential and embrace the opportunities that abound in our great nation.”

Speaker Obasa capped the day with the announcement of a structured mentorship program to pair young talents with seasoned professionals, which he described as a pathway to sustained growth and impact. “This isn’t just inspiration, it’s a pathway to greatness,” he affirmed.

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BIG STORY

Peter Obi Is A ‘Character-In-Chief’, I Know The Junction Where Madman Who Advised Him Stayed In Anambra —- Bwala

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Daniel Bwala, special adviser to President Bola Tinubu on policy communication, has mocked Peter Obi, presidential candidate of the Labour Party (LP) in 2023, describing him as a “character-in-chief”.

Speaking in an interview on The Clarity Zone Podcast anchored by Chinedu Emmanuel, popularly known as Nedu, Bwala said Obi was engaging in theatrics.

He was responding to a claim that the former governor of Anambra described him as a ‘character’.

“In the movie, the actor is a character. He is actually the character-in-chief, because what he’s playing is what we call theatrics,” Bwala said.

“You are demonstrating a fictitious picture of a reality that will never exist. I think that is the hope he sold to his people.

“So, after the election, when they saw reality dawn, and he lost the election, they couldn’t manage the picture of the fantasy that was painted in their mind, and they ran berserk.”

“They are all over the media now… they don’t have a particular platform where they stay. They migrate and abuse people. And that is because leadership is not easy.

“Leadership is a sacrifice. All these politicians you see, from President Bola Tinubu, and some other politicians who are not up to him, do a lot of sacrifice to build a base; a base that can resonate with them.”

Bwala also responded to Obi’s claim that he has never been to Anambra, saying he could even describe the road leading to the former LP presidential candidate’s house in the state.

The presidential aide further joked that he knew where the mentally unstable man, whom Obi said gave him advice while he was governor of the state, stayed.

Bwala’s remarks followed a statement Obi made in the build-up to the 2023 elections, in which he recounted how a piece of advice from a mentally unstable man helped him resolve a major security challenge during his tenure as governor of Anambra.

“And he also said, I have never been to Anambra; I can tell you the road that leads to his house. Peter Obi is from Agulu,” he said.

“From Nnewi, you have Umudim, Nnewichi, Uruagu, and Otolo. I can take you to places in the east. I even know the junction where the madman that used to advise him used to stay, very close to Upper Iweka.

“How can he say I have never been to Anambra?”

 

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BIG STORY

Fubara’s Impeachment Process On Course, Not Suspended —– Rivers Assembly

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The Rivers House of Assembly says the impeachment process against Siminalayi Fubara, governor of the state, and Ngozi Odu, his deputy, is on course.

On Thursday, the state parliament commenced impeachment proceedings against the governor and his deputy.

The lawmakers launched the process after Major Jack, Leader of the assembly, read gross misconduct charges against Fubara, signed by 26 members of the house.

On Friday, reports claimed that the Rivers State House of Assembly had suspended the impeachment process against the governor.

Responding to the reports in a statement, Enemi George, chairman of the House Committee on Information, Petitions, and Complaints, said notices of gross misconduct have been forwarded to Fubara and Odu, noting that lawmakers are awaiting their responses.

George maintained that the process has not been suspended or discontinued, describing the reports as false narratives aimed at misleading the public and causing disaffection.

“We are aware that certain persons and media platforms are at it again to misinform the public, particularly to the effect that the process has been halted or discontinued,” the statement reads.

“Some are trending false narratives to cause disaffection between the House and well-meaning Nigerians. Therefore, with the leave of the Speaker, Rt. Hon. Martin Chike Amaewhule DSSRS.

“I call on all and sundry to disregard their antics, as their actions have already failed. We remain committed to our constitutional duties and will not be dissuaded by cheap blackmail or threats from those who do not have our country’s nascent democracy at heart.

George asked the public to disregard what he described as antics, saying the house would not be deterred by “cheap blackmail or threats” and remains committed to its constitutional duties.

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