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Tinubu Directs NNPCL To Sell Crude Oil To Dangote Refinery In Naira
President Bola Tinubu has directed the Nigerian National Petroleum Company Limited (NNPCL) to sell crude oil to Dangote Refinery and other upcoming refineries in Naira.
The Special Adviser to the President on Information and Strategy, Bayo Onanuga, made this known in a post via his official X handle on Monday.
Onanuga stated that the move, which is to ensure the stability of the pump price of refined fuel and the dollar-Naira exchange rate, was adopted by the Federal Executive Council on Monday.
Dangote Refinery, at the moment, requires 15 cargoes of crude, at a cost of $13.5 billion yearly, but NNPCL has committed to supply four.
However, the FEC has 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 statement added, “The exchange rate will be fixed for the duration of this transaction.
“Afreximbank and other settlement banks in Nigeria will facilitate the trade between Dangote and NNPC Limited. The game-changing intervention will eliminate the need for international letters of credit, further saving the country of dollar payments.”
IGP Meets With ‘Take It Back’ Movement Leaders Over Planned Hunger Protests
The Inspector-General of Police, Kayode Egbetokun, yesterday, held a virtual meeting with key members of the Take It Back Movement, including prominent lawyers, Femi Falana (SAN) and Ebun-Olu Adegboruwa (SAN).
According to a statement released, yesterday, by the Force Public Relations Officer, ACP Olumuyiwa Adejobi, the meeting addressed the group’s planned nationwide protest and aimed to ensure citizens’ safety while upholding their constitutional right to peaceful assembly.
The statement noted that Egbetokun emphasised the importance of maintaining public order and safety during the protests.
He acknowledged the group’s right to peaceful demonstration while underscoring the Police Force’s responsibility to facilitate these rights within legal boundaries.
“To this end, the IGP has advised the Take It Back Movement, which has indicated its intention to protest, to engage with the respective State Police Commissioners to coordinate and plan the protests in a manner that ensures the safety of participants and the general public, while pre-empting any security challenges and ensuring that the protests proceed peacefully,” the statement said.
The IGP recommended against unplanned open processions due to potential security risks.
The statement continued, “He stressed that organising and coordinating with the Police and other security agencies are essential steps to mitigate risks, protect the rights of all citizens, and safeguard the well-being of all involved.
“The Inspector-General of Police, while reiterating that the Force remains dedicated to protecting the rights of all citizens and ensuring that all public gatherings are conducted safely and securely, calls on stakeholders to work together to foster a peaceful and secure environment during the planned protests.”
Sack Kyari For Undermining Your Agenda, Lawmakers Tell Tinubu
Fifteen lawmakers, under the aegis of The Economy Rescue Group, have called for the resignation of the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari.
The group claims that mismanagement under Kyari’s leadership at the NNPCL is responsible for the challenges faced by President Bola Tinubu’s administration.
The group, in anstatement signed and released in Abuja, yesterday, by its leader and a lawmaker representing Oredo Federal Constituency in the House of Representatives, Esosa Iyawe, insisted that Kyari should be suspended pending the outcome of the House of Representatives’ joint Committee on Petroleum (Downstream and Midstream) forensic investigation into the state of the national oil company and the downstream and midstream sectors as a whole.
The lawmakers accused the NNPCL CEO and other management staff of undermining Tinubu’s Renewed Hope Agenda.
The lawmakers noted that Kyari and his team must be removed until the forensic investigation by the House of Representatives’ Downstream and Midstream Joint Committee is concluded, to avoid any acts of sabotage.
While supporting the House’s forensic investigation into the presence of middlemen in trading, indiscriminate issuance of licences, unavailability of laboratories to check adulterated products, and the influx of adulterated products into the country, the group advised President Tinubu to take decisive action by suspending the NNPCL top echelons until the probe is complete.
The statement reads: “We, the 15 concerned lawmakers, state unequivocally that the woes of the oil and gas sector in the President Bola Ahmed Tinubu-led administration are caused mainly by the failures and mismanagement of the NNPCL under Kyari’s management. Therefore, to resolve these issues, they should honourably resign.
“In the event they fail to step down on their own, the President should not hesitate to suspend them pending the investigation conducted by the House of Representatives through its joint Committee on Petroleum: Downstream and Midstream.
“The petroleum sector remains the backbone of the nation’s economy, and the allegations uncovered by the House, which necessitated the forensic investigation, are astounding
“They relate to the presence of middlemen in trading, the indiscriminate issuance of licences, the unavailability of laboratories to check adulterated products, the influx of adulterated products into the country, the allegation of non-domestication of profits realised from crude marketing sales in local banks, and other anomalies.
“Unfair subsidisation of PMS and other petroleum products, which negatively affects competitiveness in the sector, racketeering, and favouritism in the Pro Forma Invoice System (PFI) regime, indiscriminate issuance of licences, and importation of refined petroleum products.”
The 15 lawmakers further alleged: “The return of PMS price intervention with its impact on the domestic market, product unavailability to marketers from NNPC Retail, endless shifting of timelines for refinery rehabilitation, the nefarious activities at petrol depots which have affected product distribution and caused scarcity, and the use of middlemen in trading which has negatively affected domestic crude supply.”
They added, “With all these issues occurring under Kyari’s watch, there is no way the economy can grow.
“It is therefore obvious that the NNPCL management is undermining and is already undermining Tinubu’s Renewed Hope Agenda through incompetence, and they must be suspended to allow for an unhindered probe.”
Iyawe recently moved a motion in the House, calling on the Federal Government to suspend the CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, pending an investigation into his remarks about the quality of petroleum products at Dangote Refinery.
Also in May, Iyawe urged the Federal Government to renovate and convert its abandoned buildings and forfeited land locally and abroad for public use.
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Fubara Reads Riot Act To New SSG, CoS …Warns Against Unauthorized Meetings
Rivers State Governor, Sir Siminalayi Fubara, has charged the newly appointed Secretary to the State Government (SSG) and Chief of Staff (CoS) to carry out their duties with discipline, loyalty and a firm commitment to the success of the administration and the wellbeing of the people of Rivers State.
The governor warned that any involvement in unauthorised nocturnal meetings or any conduct capable of embarrassing the government will attract immediate dismissal.
Fubara gave the warning yesterday shortly after the newly appointed Secretary to the State Government (SSG), Dr Dagogo S.A. Wokoma and the new Chief of Staff (CoS), Barrister Sunny Ewule, were sworn in at the Executive Council Chambers of Government House, Port Harcourt.
As part of the ceremony, the Chief Registrar of the State High Court, David Ihua-Maduenyi administered the Oath of Allegiance and Oath of Office on the duo before the governor gave his charge.
Addressing the appointees, Fubara reminded them that their elevation to the new positions was a call to service and not a platform for political grandstanding or the pursuit of personal ambition.
He stressed that their foremost responsibility should be to themselves and to the people of Rivers State, stressing that their conduct must always reflect integrity, restraint and dedication to public good.
Speaking directly to Dr. Wokoma, whom he described as an accomplished academic and mathematician, the governor expressed confidence in his intellectual depth and capacity to deliver on the new assignment.
The office of the Secretary to the State Government, Fubara stressed, demands thoroughness, discipline and a deep sense of responsibility. He charged the SSG to represent the State with honour at all times.
“Your duty includes representing the state government. You need to represent us in a way and manner that will bring honour to us.
“What is important to this administration is to see that the good works that we started and the ones that we met, are concluded in a way that will bring progress and development to our dear state,” he stated.
Turning to the new Chief of Staff, the governor explained that he is expected to ensure smooth administrative coordination, managing official engagements effectively and safeguarding the image of the Government House.
He underscored the sensitive and personal nature of the role and emphasised that the position operates strictly under the authority of the governor.
Fubara stressed that the role does not permit independent political engagements or private strategy meetings without his knowledge and consent.
“Let me sound it here very clearly. Your duty is to make sure that you handle the administrative duties and image making roles perfectly well, liaising with whoever is coming for any official assignment here.
“If you involve yourself in nocturnal meetings and all those things, I will sack you. I’m very serious. What is important to me today is peace, progress and prosperity of this state. I’m not going to compromise anything for it,” he said.
The governor cautioned that involvement of the new appointees in any action capable of bringing the government or his office to disrepute would attract appropriate sanctions.
While congratulating the new appointees, Fubara expressed optimism that they would justify the confidence reposed in them.
He called on all public officials to work together in unity, observing that collective success is stronger and more enduring than individual achievement.
The governor who also addressed the Permanent Secretaries present at the ceremony, directed those of them who have reached retirement age to start preparing their handover notes without delay.
The notice, he said, was not intended to scare anybody but to prepare their minds towards the inevitability of exiting the service one day and to pave way for an orderly transition.
He warned against any attempt to engage in financial misconduct or last-minute irregularities, stressing that he was closely monitoring the system to ensure strict enforcement of accountability rules.
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Fubara Dissolves Rivers Executive Council
Rivers State Governor, Sir Siminialayi Fubara, has dissolved the State Executive Council.
The governor announced the cabinet dissolution yesterday in a statement titled ‘Government Special Announcement’, signed by his new Chief Press Secretary, Onwuka Nzeshi.
Governor Fubara directed all Commissioners and Special Advisers to hand over to the Permanent Secretaries or the most Senior officers in their Ministries with immediate effect.
He thanked the outgoing members of the State Executive Council for their service and wished them the best in their future endeavours.
The three-paragraph special announcement read, “His Excellency, Sir Siminalayi Fubara, GSSRS, Governor of Rivers State, has dissolved the State Executive Council.
“His Excellency, the Governor, has therefore directed all Commissioners and Special Advisers to hand over to the Permanent Secretaries or the most Senior officers in their Ministries with immediate effect.
“His Excellency further expresses his deepest appreciation to the outgoing members of the Executive Council wishing them the best in their future endeavours.”
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INEC Proposes N873.78bn For 2027 Elections, N171bn For 2026 Operations
The Independent National Electoral Commission (INEC) yesterday told the National Assembly that it requires N873.78bn to conduct the 2027 general elections, even as it seeks N171bn to fund its operations in the 2026 fiscal year.
INEC Chairman, Prof Joash Amupitan, made the disclosure while presenting the commission’s 2026 budget proposal and the projected cost for the 2027 general elections before the National Assembly Joint Committee on Electoral Matters in Abuja.
According to Amupitan, the N873.78bn election budget covers the full conduct of national polls in 2027.
An additional N171bn is needed to support INEC’s routine activities in 2026, including bye-elections and off-season elections, the commission stated.
The INEC boss said the proposed election budget does not include a fresh request from the National Youth Service Corps seeking increased allowances for corps members engaged as ad-hoc staff during elections.
He explained that, although the details of specific line items were not exhaustively presented, the almost N1tn election budget is structured across five major components.
“N379.75bn is for operational costs, N92.32bn for administrative costs, N209.21bn for technological costs, N154.91bn for election capital costs and N42.61bn for miscellaneous expenses,” Amupitan said.
The INEC chief noted that the budget was prepared “in line with Section 3(3) of the Electoral Act 2022, which mandates the Commission to prepare its election budget at least one year before the general election.”
On the 2026 fiscal year, Amupitan disclosed that the Ministry of Finance provided an envelope of N140bn, stressing, however, that “INEC is proposing a total expenditure of N171bn.”
The breakdown includes N109bn for personnel costs, N18.7bn for overheads, N42.63bn for election-related activities and N1.4bn for capital expenditure.
He argued that the envelope budgeting system is not suitable for the Commission’s operations, noting that INEC’s activities often require urgent and flexible funding.
Amupitan also identified the lack of a dedicated communications network as a major operational challenge, adding that if the commission develops its own network infrastructure, Nigerians would be in a better position to hold it accountable for any technical glitches.
Speaking at the session, Senator Adams Oshiomhole (APC, Edo North) said external agencies should not dictate the budgeting framework for INEC, given the unique and sensitive nature of its mandate.
He advocated that the envelope budgeting model should be set aside.
He urged the National Assembly to work with INEC’s financial proposal to avoid future instances of possible underfunding.
In the same vein, a member of the House of Representatives from Edo State, Billy Osawaru, called for INEC’s budget to be placed on first-line charge as provided in the Constitution, with funds released in full and on time to enable the Commission to plan early enough for the 2027 general election.
The Joint Committee approved a motion recommending the one-time release of the Commission’s annual budget.
The committee also said it would consider the NYSC’s request for about N32bn to increase allowances for corps members to N125,000 each when engaged for election duties.
The Chairman of the Senate Committee on INEC, Senator Simon Along, assured that the National Assembly would work closely with the Commission to ensure it receives the necessary support for the successful conduct of the 2027 general elections.
Similarly, the Chairman of the House Committee on Electoral Matters, Bayo Balogun, also pledged legislative support, warning INEC to be careful about promises it might be unable to keep.
He recalled that during the 2023 general election, INEC made strong assurances about uploading results to the INEC Result Viewing portal, creating the impression that results could be monitored in real time.
“iREV was not even in the Electoral Act; it was only in INEC regulations. So, be careful how you make promises,” Balogun warned.
The N873.78bn proposed by INEC for next year’s general election is a significant increase from the N313.4bn released to the Commission by the Federal Government for the conduct of the 2023 general election.
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