The Nigerian Education Loan Fund (NELFUND) has vowed to take decisive action against tertiary institutions accused of withholding students’ tuition refunds and imposing unapproved fee increases despite benefiting from the Federal Government’s student loan scheme.

The Fund disclosed this in a statement issued on Monday by its Director of Strategic Communications, Oseyemi Oluwatuyi, following reports that some institutions had failed to refund students who paid their tuition fees before NELFUND later settled the same fees directly with the schools.

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According to the agency, the alleged refusal or delay in refunding affected students is unacceptable and runs contrary to the objectives of the student loan programme.

NELFUND also expressed concern over reports that some universities and other higher institutions have arbitrarily increased tuition and other institutional charges, warning that such practices place unnecessary financial pressure on students and undermine the purpose of the scheme.

The Fund stressed that the student loan initiative, introduced by the administration of President Bola Ahmed Tinubu, was designed to remove financial barriers to higher education and ensure that eligible Nigerian students can pursue their academic goals without undue hardship.

To address the situation, NELFUND said it has begun engaging with the affected institutions and relevant authorities to ensure that all eligible students receive their refunds without further delay.

The agency further revealed that measures are being put in place to ensure tuition fees and other institutional charges remain fair, transparent, and consistent with the objectives of the Federal Government’s education financing programme.

Reaffirming its commitment to students, NELFUND stated that it would continue to protect the interests of beneficiaries while preserving the integrity of the student loan scheme.

The Fund also warned that it would not allow exploitative practices by institutions to deny students the full benefits of the Federal Government’s landmark education intervention.

In a move signalling a shift from its traditional reliance on Nigerian, African, and United States crude grades, the Dangote Petroleum Refinery and Petrochemicals (DPRP) has purchased two cargoes of crude oil from the United Arab Emirates (UAE).

Biztellers reports that this follows the opening of the Strait of Hormuz, and is its first-ever procurement of Middle Eastern crude as the company expands its feedstock sources amid persistent domestic supply constraints.

According to a report by S&P Global Commodity Insights, two cargoes will be the first sourced by the 700,000-barrels-per-day refinery from any Middle Eastern supplier.

The report added that the purchases followed the resumption of oil exports from the Middle East after the United States and Iran reached an interim peace agreement that restored confidence in shipping through the Strait of Hormuz.

The refinery, designed primarily to process Nigeria’s light sweet crude, has increasingly diversified its crude slate as operations ramp up. S&P Global reported that an agreement between the refinery and the Nigerian National Petroleum Company Limited (NNPC Ltd) had guaranteed the supply of between 13 and 15 cargoes of Nigerian crude monthly in naira, helping the refinery reduce its foreign exchange exposure.

However, the arrangement has faced challenges due to inadequate crude availability and operational issues at export terminals.

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According to the report, the Dangote Refinery Chief Executive Officer David Bird had previously disclosed that these constraints had compelled the company to seek additional crude sources outside Nigeria.

The report also added that the refinery’s expansion plans would further increase its crude requirements. Dangote plans to double the refinery’s processing capacity to 1.4 million barrels per day by the end of 2028, a level that would enable it to process about 80 percent of Nigeria’s recent crude oil production in a single day.

According to S&P Global, the refinery has been broadening the range of crude grades it processes as part of its ambition to operate as a fully merchant refinery.

The report noted that in 2025, about 70 percent of the refinery’s crude imports came from Nigeria, while 24 per cent originated from the United States.

The Nigerian Content Development and Monitoring Board (NCDMB) has concluded a two-week Oil and Gas Logistics and SMEs Readiness Development Programme for 120 youths and indigenous businesses in Bayelsa State.

Biztellers reports that the training is aimed at equipping the beneficiaries with the skills, industry knowledge and compliance requirements needed to compete effectively in Nigeria’s oil and gas sector.

The programme, implemented by Tenacles Resource Limited, combined a five-day online orientation with intensive physical training in Yenagoa, exposing participants to opportunities across the oil and gas value chain while preparing them to meet industry standards.

During the closing ceremony on Saturday in Yenagoa, the Executive Director of Tenacles Resource Limited, Tonye Briggs, explained that the initiative was designed to empower youths, entrepreneurs and indigenous businesses from oil-producing communities and other parts of Bayelsa State to become active players in the country’s petroleum industry.

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Briggs explained that the programme commenced with an online screening and orientation phase that introduced participants to the objectives of the training and the expectations of the NCDMB.

According to him, the online sessions focused on engagement with operators in the oil and gas sector, regulatory compliance, logistics and inventory management, and an overview of Nigeria’s petroleum industry.

He noted that the physical training built on the online sessions by providing practical knowledge on oil and gas logistics, inventory management, registration on the Nigerian Oil and Gas Industry Content Joint Qualification System and NipeX portals, as well as the compliance standards required to participate in the industry.

According to Briggs, participants also took part in a business competition in which three outstanding businesses were selected to receive support in obtaining the compliance documents required for sustainable participation in the sector.

He added that all participants were registered on the NCDMB portal and would benefit from a four-month mentorship and coaching programme that would expose them to job vacancies, business opportunities and industry updates.

“We have been implementing a two-week Oil and Gas Logistics and SMEs Readiness Development Programme on behalf of the NCDMB to empower youths and indigenous businesses from Bayelsa State.

“The participants have been equipped with knowledge on engaging operators, meeting compliance standards and identifying opportunities within the logistics and inventory space.

“We have also registered them on the NCDMB portal and established a four-month coaching platform to expose them to opportunities and support their growth”, Briggs said.

Briggs commended the Executive Secretary of the NCDMB, Felix Ogbe, for sustaining initiatives that promote indigenous participation in Nigeria’s oil and gas industry, expressing confidence that similar programmes would benefit more Nigerians across the country.

Delivering the keynote address, the Permanent Secretary, Bayelsa State Ministry of Labour, Employment and Productivity, Edmund Dagogo, urged participants to maximise the opportunity provided by the training by applying the knowledge acquired to build sustainable businesses and careers within the oil and gas sector.

He commended the collaboration between the NCDMB, Tenacles Resource Limited and the Bayelsa State Government, noting that the programme would help increase local participation in the nation’s petroleum industry.

Participants described the training as transformational, saying it changed their perception of opportunities available in the oil and gas sector.

One of the participants, Miss Douye Jumbo, said the programme broadened her understanding of the Nigerian Oil and Gas Industry Content Development Act, 2010, and dispelled the notion that only multinational companies could participate in the industry.

Another participant, Excellent David Siri, described the programme as an eye-opener, noting that it demonstrated that opportunities in the oil and gas sector extend beyond technical professions.

Siri, a pipeline welder specialising in Shielded Metal Arc Welding, said artisans, traders and entrepreneurs could also participate in the industry’s supply chain, provided they possessed relevant skills, operated legitimate businesses and met regulatory requirements.

At the closing ceremony, participants received certificates, laptops and mentorship support to facilitate their registration on the NOGIC JQS platform and enhance the practical application of the knowledge gained during the training.

The programme forms part of the NCDMB’s broader strategy to strengthen local content development by building the capacity of youths and indigenous businesses in oil-producing communities, enabling them to participate more competitively in Nigeria’s oil and gas value chain.