Connect with us

NEWS

Naira-For-Crude Policy Still-In-Force – Chairman, Technical Sub-Committee

Published

on

The crude-for-naira policy of the President Bola Ahmed Tinubu administration remains in force, and it is not being considered for review, given the numerous advantages it has brought to the domestic economy.

These views were made public by the Chairman, Technical Sub-Committee, Zacch Adedeji. His committee is saddled with the responsibility of ensuring the implementation of the policy by the Federal Executive Council (FEC).

Adedeji’s position was detailed in a statement put out on the socials of the Special Adviser to the President, (Information and Strategy), Bayo Onanuga, on Tuesday.

ALSO READ: Under Tinubu, Nigeria Is Moving In Right Direction

It reads, “Our attention has been drawn to reports doing the rounds and suggesting that the naira-based crude oil supply arrangement with local refineries has been discontinued, forcing the domestic refineries to rely solely on international crude purchases.

These reports do not reflect the realities of the ongoing work under the Federal Executive Council Initiative on Domestic Sales of Crude Oil and Refined Products in Naira.

As the committee driving the implementation of this laudable initiative, we wish to provide an update on the Federal Executive Council initiative and confirm as follows:

– The Naira-Based Domestic Sales Framework Remains in Place

The policy framework enabling the sale of crude oil in naira for domestic refining remains in force. The initiative was designed to ensure supply stability and optimize the utilisation of local refining capacity. There has been no decision at the policy level to discontinue this approach nor is it being considered. After implementing the policy for some months, evidence abounds that it is the right way to go and it will continue to help the economy.

– Local Refineries Have Not Been Excluded from Domestic Crude Supply

The engagement process for crude oil supply to domestic refineries therefore remains in place by structured agreements, balancing factors such as availability, demand, and market conditions. There is no exclusion of local refineries from access to domestic crude. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is actively ensuring compliance with the Domestic Crude Oil Obligations provisions of the Petroleum Industry Act.

– The Initiative Supports Competitive Pricing and Market Efficiency

The framework for domestic crude transactions is designed to promote a competitive and efficient pricing environment.

– The Committee Continues Its Work on Strengthening Implementation

We remain committed to ensuring the efficient execution of this initiative in line with its core objectives – enhancing local refining, reducing foreign exchange exposure, and stabilising the domestic fuel supply.

12 Comments
0 0 votes
Article Rating
Subscribe
Notify of
12 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
tlovertonet
9 months ago

Sweet blog! I found it while surfing around on Yahoo News. Do you have any suggestions on how to get listed in Yahoo News? I’ve been trying for a while but I never seem to get there! Cheers

kidney stone pain treatment

There are some interesting closing dates on this article but I don’t know if I see all of them middle to heart. There is some validity but I’ll take hold opinion till I look into it further. Good article , thanks and we want extra! Added to FeedBurner as nicely

Ελαιοχρωματιστές Αχαρνές - Μενίδι

I have been surfing on-line more than 3 hours lately, yet I by no means found any attention-grabbing article like yours. It?¦s beautiful worth enough for me. Personally, if all webmasters and bloggers made just right content material as you probably did, the internet can be a lot more useful than ever before.

toto togel
6 months ago

Real fantastic visual appeal on this website , I’d value it 10 10.

aviator game download
6 months ago

An attention-grabbing discussion is value comment. I believe that you should write more on this topic, it might not be a taboo subject however generally people are not enough to speak on such topics. To the next. Cheers

bhai 88
6 months ago

Awsome post and straight to the point. I don’t know if this is in fact the best place to ask but do you people have any ideea where to get some professional writers? Thanks 🙂

fdertol mrtokev
6 months ago

Magnificent beat ! I wish to apprentice while you amend your web site, how could i subscribe for a blog site? The account aided me a acceptable deal. I had been tiny bit acquainted of this your broadcast offered bright clear concept

dmarket.web.id
5 months ago

I have been checking out a few of your stories and it’s pretty good stuff. I will definitely bookmark your site.

brandspace.id
5 months ago

I have been reading out some of your articles and i can claim pretty clever stuff. I will make sure to bookmark your website.

ayuda PFG arquitectura
5 months ago

Wohh just what I was searching for, thanks for posting.

servizio di scansione posta Svizzera

Whoa! This blog looks exactly like my old one! It’s on a totally different topic but it has pretty much the same layout and design. Great choice of colors!

zabornatorilon
5 months ago

I truly appreciate this post. I’ve been looking all over for this! Thank goodness I found it on Bing. You have made my day! Thanks again!

NEWS

Minister Orders Security Operatives to Wade into Souring LPG Prices

Published

on

Prompted by the sharp hike in the price of cooking gas also called Liquefied Petroleum Gas (LPG), the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has directed operatives of the Department of State Services (DSS), Police, Nigeria Security and Civil Defence Corps (NSCDC) and other paramilitary to decisively deal with those undermining the sector.

Ekpo, yesterday at a meeting with stakeholders on the rising prices of LPG, specifically directed the phalanx of the security team to apprehend hoarders and stop illegal storage diversion across Nigeria.

According to him, the government would not sit back and allow market forces to thwart its efforts in ensuring availability and affordability of LPG.

“I have directed the NMDPRA to intensify monitoring, engage operators, and work with security agencies to discourage hoarding, eliminate artificial scarcity, and strengthen distribution and pricing transparency.

“Improved supply must be matched by efficient distribution and responsible conduct. Bottlenecks, hoarding, speculative storage, allocation inefficiencies, logistics constraints, and pricing distortions must not undermine public confidence,” he said.

He reassured Nigerians that there is no cause for panic, as the government remains committed to adequate domestic gas supply and to the Decade of Gas Initiative as a pathway for cleaner cooking, industrial growth, and energy security,” stated.

Deputy President of Nigerian Association of LPG Marketers (NALPGAM), Ude Godwin, in his presentation, recalled how the body approached the Minister, the NMDPRA over the escalating price of gas in Nigeria and today’s meeting presented opportunities to enable the stakeholders to address the crisis.

Godwin explained that Since late 2025 into mid-2026: Nigerians have faced repeated LPG scarcity and consequential sharp price hikes despite rising domestic production.

According to him, prices jumped from N1,000/kg in January 2026 to N1,500-1,700/kg by May 2026.

“Prices went in some locations from N2,000-2,500/kg by June 2026. A 20MT truck now costs marketers N28m-N30m as against N14m/20MT when Dangote first supplied LPG in 2025.

“Erratic supply, terminal congestion in Lagos, logistics bottlenecks, and reduced volumes from Dangote Refinery and NLNG. Low buffer stock made any 2-week disruption to trigger panic buying.

“The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), led by National President Barr. Edu Inyang has been the main industry voice pushing for intervention to save the situation,” he added.

ALSO READ: Sahara Group Fires-up Energy Journalism with $5,000 Fellowship

Beyond threats and sanctions, the marketer suggested to the government that there should be all domestic LPG producers to demonstrate compliance with domestic supply commitments and ensure adequate volumes are made available to the Nigerian market before exports, saying it will increase product availability and reduce supply disruptions.

He said there should be a joint government-industry monitoring team to track production volumes, depot prices, inventory levels, and distribution patterns across the country, to identify early signals of supply shortages, speculative activities, and market distortions.

He tasked the government to Initiate an urgent review of multiple fees, levies, and charges imposed across the LPG value chain with a view to eliminating duplications and reducing cost burdens on operators. This will bring about lower operating costs and moderation of retail prices.

“Where domestic supply is insufficient, provide a fast-track framework for marketers and investors to import additional LPG volumes, including support for foreign exchange access and streamlined regulatory approvals. This will bridge supply gaps and improve market competition.

“Announce targeted incentives for investment in LPG storage facilities and distribution hubs in underserved regions, particularly Northern Nigeria and major inland consumption centres. This will reduce transportation costs and improve nationwide product availability.

“Set up a standing working group comprising representatives of the Ministry, NMDPRA, producers, terminal operators, NALPGAM and other critical stakeholders to meet periodically and monitor implementation of agreed interventions.

“This will bring about sustained stakeholder engagement, policy coordination, and measurable progress toward supply, availability and stability,” he added.

Continue Reading

NEWS

Sahara Group Fires-up Energy Journalism with $5,000 Fellowship

Published

on

To bolster energy journalism in Africa, Sahara Group has unveiled the Asharami Square Energy Reporting Fellowship, offering up to $5,000 in grants, mentorship opportunities, and access to industry experts for selected journalists across the continent.

The Fellowship is an extension of Asharami Square, Sahara Group’s flagship thought leadership platform, now in its third edition, focused on sustainability and energy transition.

Themed “Energising Africa’s Energy Future: Legacy, Impact, and Transformation,” this year’s event will bring together industry leaders, policymakers, academia, and the media on July 22, 2026, in Lagos, Nigeria.

The Asharami Energy Reporting Fellowship reflects Sahara Group’s evolution from convening conversations to strengthening the narratives defining Africa’s energy future. Guided by the theme, “Telling Africa’s Energy Story. Shaping Solutions,” it advances solutions-driven reporting on infrastructure gaps, financing, policy trade-offs, and community impact.

Ejiro Gray, Director, Governance and Sustainability at Sahara Group, said the initiative is focused on strengthening the quality of discourse around energy on the continent. “As the energy landscape becomes more complex, the need for accurate, contextual, and impactful reporting becomes even more critical. This Fellowship is designed to support journalists in telling stories that go beyond headlines and uncover the real dynamics shaping Africa’s energy future,” she said.

Bethel Obioma, Head, Corporate Communications, Sahara Group, said the Fellowship extends Asharami Square’s long-standing focus on shaping narratives.

“At Sahara Group, we believe storytelling is a powerful driver of progress. With the Fellowship, we are going a step further to support the storytellers themselves, enabling a new wave of galvanising journalists across Africa to unearth untold energy stories, spotlight practical solutions, and contribute meaningfully to the continent’s energy future,” he said.

“To participate, journalists from across Africa, spanning print, electronic, and digital media, are invited to submit well-well-researched stories via the Fellowships’ portal, www.asharamisquarefellowship.com,” Obioma added.

Entries must be stories published or broadcast between January and October 30, 2026, and should be original, insightful, and accurate. Submissions must align with the Fellowship’s focus on uncovering underreported energy issues and advancing practical, forward-looking solutions for Africa’s energy future.

ALSO READ: Renaissance Acquisition Pushes Aradel’s Assets Up 466% to N10trn

An independent jury comprising experts in energy journalism and sustainable development will assess entries.

The Fellowship offers up to $5,000 in funding, combining financial support, immersive learning, mentorship, and high-level exposure to build capacity for shaping Africa’s energy narrative.

Continue Reading

NEWS

‘They’ll Be Free Soon’ – DIG Gives Fresh Update on Abducted Oyo Pupils, Teachers

Published

on

The Oyo State Government under Governor Seyi Makinde has approved the reconstruction of Ijio-Idiko-Ile Road which is one of the roads in the Oke Ogun geo-political zone in the state. Makinde also disclosed that he had given the go-ahead for the renovation of Iseyin Township Hall. Makinde, made these known during a town hall meeting held at Iseyin Town Hall in Iseyin Local Government Area, on Thursday. In his speech, Makinde informed the audience that construction is still going on at the Ladoke Akintola University, Ogbomoso campus's College of Agricultural Science and Renewable Natural Resources, Iseyin Campus. He declared that Oba Abdul Ganiy Adekunle Salau, the most recent Aseyin of Iseyin, would be honored by having the campus lecture hall bear his name.

The South-West Coordinating Deputy Inspector-General of Police (DIG), Adegoke Fayoade, has reassured Nigerians that the abducted pupils and teachers in Oyo State will soon regain their freedom as security agencies intensify rescue operations.

Speaking during an official working visit to the Lagos State Police Command Headquarters in Ikeja on Monday, Fayoade expressed confidence that ongoing efforts by law enforcement agencies and government authorities would yield positive results in the shortest possible time.

According to him, all available resources are being deployed to secure the safe release of the victims, while security operatives remain focused on rescue efforts rather than engaging in discussions about ransom demands.

ALSO READ: Oyo APC Rejects LG Election, Says Makinde Wants to Rule by Proxy After Exit

All agencies, including government authorities, are working tirelessly. I can assure Nigerians that within the shortest possible time, the children and their teachers will be free,” the DIG stated.

Fayoade dismissed reports suggesting that the abductors had altered their demands, insisting that the police were unaware of any negotiations involving ransom payments or the release of suspected accomplices.

We do not discuss ransom. Our priority is ensuring the safe rescue of those in captivity,” he said.

The senior police officer explained that his visit to Lagos was part of a broader strategy to strengthen supervision across police commands in the South-West and engage officers on effective approaches to tackling emerging security threats.

He disclosed that discussions with officers centered on manpower development, welfare improvement, and operational efficiency.

Fayoade noted that the ongoing recruitment of 40,000 police personnel would help address manpower shortages across the country, while improved welfare packages would boost officers’ morale and effectiveness.

The DIG also highlighted the Nigeria Police Force’s commitment to adopting modern technology in crime fighting.

He revealed that efforts were underway to complete a central data centre that would enable security agencies to share intelligence and improve crime detection nationwide.

He added that the force was preparing to introduce artificial intelligence into criminal investigations and intelligence gathering to enhance policing and improve response times.

Technology remains a major priority. Very soon, our officers will begin specialized training on the use of artificial intelligence in investigations and intelligence operations,” he said.

Fayoade further urged members of the public to cooperate with law enforcement agencies, stressing that effective policing requires mutual trust and respect between officers and citizens.

The assurance comes amid growing concern from parents and residents over the fate of the abducted pupils and teachers, with many hoping for a swift and safe resolution to the incident.

Continue Reading

Copyright © 2022. Biztellers, powered by Alphaxristi.

12
0
Would love your thoughts, please comment.x
()
x