Oil marketers and domestic refiners have called on the Federal Government to provide comprehensive details about the naira-for-crude oil deal, which was recently announced by the Federal Ministry of Finance.

The ministry disclosed that the sale of crude oil and refined petroleum products in naira began on October 1, 2024, marking a significant shift in the country’s oil sales policy.

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In a statement on Saturday, the Ministry of Finance, through its official X handle, confirmed that the initiative had officially commenced, following a directive from the Federal Executive Council.

The Minister of Finance and Coordinating Minister of the Economy chaired a post-commencement review of the initiative on October 3, 2024, affirming the strategic move.

However, the announcement lacked details about the contractual agreements and pricing mechanisms, prompting concerns from key industry stakeholders.

Industry Response

The Crude Oil Refinery Owners Association of Nigeria and the Petroleum Retail Outlet Owners Association of Nigeria (PETROAN) welcomed the move, but both organizations urged the government to disclose more specifics about the deal.

Billy Gillis-Harry, President of PETROAN, expressed optimism about the policy but emphasized the need for transparency.

In an interview, he highlighted the importance of understanding how the agreement would affect the pricing of crude oil and its impact on fuel costs in Nigeria.

“We are happy with the initiative as it aligns with our long-standing recommendation to sell crude oil to Nigerian refineries in naira,” said Gillis-Harry.

“However, we need the government to release details, especially regarding pricing, to address concerns of potential fuel price hikes.”

Gillis-Harry, currently engaged in local elections in Rivers State, said the outcome of the deal would have far-reaching consequences for Nigeria’s economy.

“PMS (Premium Motor Spirit) pricing is crucial as it affects every aspect of the economy. We hope that once the details are revealed, it will ensure stability and growth for the naira.”

He also lauded the government for implementing the suggestion originally pushed by PETROAN, stating that this policy could provide significant value to the Nigerian economy.

Awaiting Clarity

Despite the positive reception from some industry players, the lack of clarity regarding the pricing structure and other terms of the deal has left many stakeholders eager for more information.

The success of the naira-for-crude initiative will largely depend on how the details are handled, especially as fuel prices remain a sensitive issue for Nigerian consumers.

As the government continues to roll out the policy, it remains to be seen how the deal will affect both the domestic and international oil markets, as well as the broader Nigerian economy.

Oklahoma State Superintendent Ryan Walters is pushing forward with his plan to introduce Bibles into classrooms, opening bids Monday for a contract to supply 55,000 Bibles to the state’s Department of Education.

The move follows his long-held stance of incorporating the Bible into the educational environment, but the specifics of the bid have raised legal and ethical concerns.

According to the bid documents, the Bibles must adhere to strict requirements: they must be King James Version (KJV), include both the Old and New Testaments, and be bound in leather or leather-like material.

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Additionally, they must contain several American founding documents, including the Pledge of Allegiance, the Declaration of Independence, the U.S. Constitution, and the Bill of Rights.

However, finding Bibles that meet these criteria has proven challenging. A salesperson from Mardel Christian & Education, a major supplier of Christian educational materials, reported that despite carrying 2,900 different Bibles, none met the bid’s specifications.

Yet, one Bible does: the God Bless the U.S.A. Bible—often referred to as the “Trump Bible”—endorsed by former President Donald Trump.

Priced at $60 each, this Bible is available online, with Trump receiving fees for his endorsement. Another option, the We The People Bible, endorsed by Donald Trump Jr., retails for $90.

The involvement of Trump-endorsed products has sparked criticism.

Colleen McCarty, Executive Director of the Oklahoma Appleseed Center for Law and Justice, expressed concerns about the bid process.

“The RFP on its face seems fair, but with additional scrutiny, we can see there are very few Bibles on the market that would meet these criteria, and all of them have been endorsed by former President Donald Trump,” McCarty said.

Former Oklahoma Attorney General Drew Edmondson weighed in, suggesting that the specifications could be legally questionable. “It appears to me that this bid is anything but competitive,” Edmondson said.

“It adds to the basic specification other requirements that have nothing to do with the text.

“The special binding and inclusion of government documents will exclude almost all bidders. If the bid specs exclude most bidders unnecessarily, I could consider that a violation.”

Beyond the potential legal and competitive issues, concerns about the cost have emerged. If the state opts for the God Bless the U.S.A. Bible at $60 per copy, the total expense for 55,000 Bibles would amount to $3.3 million.

Walters’ agency had requested $3 million from the Oklahoma Legislature as part of its fiscal year 2026 budget, specifically earmarked for Bible purchases, despite cheaper options being readily available.

Paperback versions of the New King James Version can be purchased for as little as $2.99, and free Bible apps are widely accessible.

Walters has frequently spoken about his desire to place Bibles in classrooms, though he has clarified that they would only be used in academic contexts, such as history or literature classes.

However, with only 43,000 classroom teachers in the state, many of whom do not teach these subjects, the request for 55,000 copies has drawn skepticism.

“We have talked about ensuring that our history courses include the role the Bible played throughout American history,” Walters said.

“We’ve talked about the efforts of left-wing groups and the teachers’ unions to drive the Bible out of school. I believe it’s important for historical context for our kids to understand the role the Bible played.”

The inclusion of government documents in the Bible has been another sticking point, with Walters explaining that while he does not want “extra things” added, items like the Constitution and the Magna Carta could be valuable historical references.

A damning video clip has resurfaced, showing former Rivers State governor Nyesom Wike vehemently opposing the godfather syndrome in politics.

The clip, which is currently circulating on social media, reveals Wike’s stance on the issue, stating that the godfather syndrome will not be tolerated in Rivers State.

In the video, Wike, who is currently serving as the Minister of the Federal Capital Territory, FCT, explicitly states that the system of godfatherism may be prevalent in other states like Lagos, but it will not happen in Rivers.

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He emphasizes that he cannot perpetuate the system even if he wants to, and that it is not possible for one individual to dictate the political landscape of the state.

He said, “It may happen in Lagos State but it cannot happen in Rivers, we are quite different. As a governor, I will come and go and I can’t stop it.

“The day that my tenure ends, by the grace of God, I will go. When you are thinking that what is happening in Lagos State, we will do it here, it may be difficult.

“You can’t continue to say that you must be a godfather of a state. That is the problem and it is not possible.

However, the irony of Wike’s statement is not lost on many, as Rivers State is currently embroiled in one of the worst political crises in the country.

wike and incumbent Governor Siminalayi Fubara are locked in a bitter struggle for control of the state’s leadership structure, with both sides trading blows and accusations.

The crisis has divided Rivers State along ethnic and political lines, with various groups issuing threats and warnings.

The Ijaw Youth Council and the Ijaw National Congress have warned that any attempt to remove Fubara from office will be seen as an attack on the Ijaw nation.

As the situation in Rivers State continues to unfold, the resurfaced video clip has raised questions about Wike’s commitment to his earlier stance on godfatherism.