News
APC group hails NNPCL, marketers over plan to distribute Dangote fuel across Nigeria
…asks Kyari to fix local refineries, not only MoUs with Dangote
Foremost youth group within the ruling All Progressive Congress (APC), has hailed the Nigerian National Petroleum Corporation Limited (NNPCL) and major oil marketers for deciding to lift and distribute fuel from the Dangote refinery to end users across the country.
The group, APC Vanguard for Optimum Transparency and Accountability (APC-VOTA), also called on the Group Chief Executive Officer (GCEO) of the NNPCL, Malam Mele Kyari, to live up to his promises by making the Port Harcourt, Warri and Kaduna refineries operational.
In a statement Wednesday morning by the President, Engr. Shola Olatunji, and Secretary, Amb. Waheed Isiaka, the group expressed optimism that, by patronizing the locally refined petroleum products, the nation’s economy will stabilize, as the naira will gain heavily against foreign currencies, hence, importation of refined products will be discouraged.
“Aside making the products to be available across the country, thereby defeating the usual artificial scarcity during the yuletide, lifting from Dangote refinery will also strengthen our currency against foreign currencies and make our economy to pick again.
“It will also save Nigerians from buying adulterated and high sulphur density petroleum products currently being imported into the country by some unscrupulous oil marketers, under the supervision of the so called regulators who value their pockets more than the welfare of the people.
“Above all, this will save Nigerian government a whooping N24 trillion yearly, as it currently imports Petroleum products by paying N2tr every month.
“This is a noble decision and all of us at APC-VOTA welcome this step wholeheartedly, as it will better the lives of Nigerians and will reduce hardship currently being faced”, the statement read.
On the need to rehabilitate the ailing local refineries, the group said it was obvious that Kyari lacks the capacity to make Port Harcourt, Warri and Kaduna refineries work again.
“It’s obvious to all Nigerians that Kyari lacks what it takes to fix our refineries. Despite trillions of naira injected into the rehabilitation of Port Harcourt, Warri and Kaduna refineries, there is nothing to show for it and the man is not saying anything again, after running lost of excuses.
“Keeping such man any longer is tantamount to keeping an infested ripe fruit, since you can’t eat it, just remove it neatly, because the more you leave it there, the more it infest other fruits, untill the whole system will become compromised and collapsed.
“The only solution to the fuel crisis in Nigeria is the sack of Kyari and our refineries working. Anything less is tantamount to prolonging our doomsday”, the group added.
Recall that the NNPCL said it has stopped importing refined petroleum products and is now off-taking fuel from the Dangote Petroleum Refinery and other local refineries.
The NNPCL’s GCEO, Kyari, disclosed this on Monday at a conference of the Nigerian Association of Petroleum Explorationists, in Lagos.
The Central Bank of Nigeria (CBN) has announced a revised documentation requirement for transactions conducted through the Pan-African Payment and Settlement System (PAPSS) in Nigeria.
This was disclosed in a statement issued by the apex bank’s acting Director, Corporate Communications, Mrs. Hakama Sidi Ali
The CBN said the new initiative is part of its ongoing commitment to foster seamless intra-African trade, financial inclusion, and operational efficiency for Nigerians engaging in cross-border payments within Africa.
Launched by Afreximbank in partnership with the African Union and the African Continental Free Trade Area (AfCFTA) secretariat in January 2022, PAPSS serves as a centralized payment and settlement platform that enables instant, secure, and efficient cross-border transactions throughout Africa.
By facilitating payments in local currencies, PAPSS minimizes reliance on third-party currencies, reduces transaction costs, and supports the rapid expansion of trade under the AfCFTA.
In a recent circular referenced TED/FEM/PUB/FPC/001/006 issued on April 28, 2025, CBN outlined the key changes to the documentation requirements associated with PAPSS transactions.
The key changes it added take effect immediately and include simplified documentation for low-value transactions, which allows customers to now use basic KYC and AML documents provided to their authorized dealer banks for low-value transactions of up to $2,000 and $5,000 equivalent in naira for individuals and corporate bodies, respectively.
“For transactions above the thresholds, all documentation as stipulated in the CBN foreign exchange manual and related circulars remains mandatory,” the bank said.
Also, the CBN added that applicants are responsible for ensuring all regulatory documents are available to facilitate the clearance of goods, as required by relevant government agencies.
“Authorized dealer banks may now source foreign exchange for PAPSS settlements through the Nigerian foreign exchange market, without recourse to the CBN.
“All export proceeds repatriated via PAPSS shall be certified by the relevant processing banks.
“The Central Bank of Nigeria urges all banks to adopt PAPSS and commence originating transactions in line with this new policy.
“In addition, CBN encourages exporters, importers, and individuals to familiarize themselves with the new requirements and leverage PAPSS for cross-border transactions within Africa,” the statement said.
By Gloria Ikibah
The House of Representatives is set to host the country’s first National Legislative Conference on Renewable Energy, aimed at driving new laws, attracting investment, and pushing Nigeria further along its energy transition journey.
This was revealed during a press briefing by the Chairman, House Committee on Renewable Energy, Rep. Afam Victor Ogene, who described the event as a turning point for energy legislation in Nigeria.
He said: “The conference aims at bringing together key stakeholders and industry players to discuss renewable energy legislations, energy transition, renewable energy financing, investment opportunities and related matters.
“It’s about developing a national legislative framework on renewable energy”.
The conference, which is being organised by the House Committee on Renewable Energy in partnership with the Office of the Speaker of the House of Representatives, and the United Nations Development Programme (UNDP), will take place under the UNDP Parliamentary Development Program.
Rep. Ogene noted that recent legal reforms have created space for state governments to play a more active role in Nigeria’s power sector. He pointed to the Fifth Alteration Bill 2022 (No.33), now signed into law, which allows states to legislate on electricity matters within the national grid. Before now, states could only act on off-grid power.
In addition, he highlighted the Electricity Act of 2023, which came into effect in February 2024.
“It permits states to issue licenses for all electricity activities – generation, transmission and distribution across the entire power sector value chain,” he said.
The Committee Chairman further stated that the new National Integrated Electricity Policy, expected in 2025, will guide states in forming new electricity markets, where solar power and other renewable sources will be key to reaching underserved communities.
Ogene explained, “The conference has three clear objectives:
“To promote dialogue among legislators, experts and stakeholders on critical legislative priorities.
“To establish a coordinated platform for federal and state lawmakers, and to produce a clear, time-bound legislative action plan.
“International partners are also on board. The Inter-Parliamentary Union (IPU) will participate, and parliaments from South Africa, Ghana and Gambia have confirmed attendance. Ghana is sending a three-man delegation led by the Deputy Speaker, Rt. Hon. Alban Kingsford Bagbin”.
In another major highlight, the Netherlands-based platform INCLUDE will host a Pan-African Legislative Dialogue session on renewable energy, to be chaired by the Hon. Speaker, Rt. Hon. Abbas Tajudeen.
“The session will focus on how to establish a unified legislative framework on renewable energy development, investment and financing.
“The time has come for us to act. This is not just another conference – it is the foundation of Nigeria’s renewable energy future”, Ogene added.
Expected outcomes from the conference include new policy and legislative reform proposals to boost renewable energy use, as well as draft laws that will encourage public and private sector investment.
Other goals are to enhance collaboration between federal and state lawmakers, raise public awareness, and roll out a practical roadmap for implementation and progress tracking.
The event will also feature a technology showcase of renewable energy innovations and business opportunities.
By Francesca Hangeior
The operatives of the Economic and Financial Crimes Commission (EFCC), on Wednesday, arrived at the Federal High Court in Abuja with the businesswoman, Aisha Achimugu, as ordered by the court.
Achimugu, who was sandwiched by two female EFCC officers, arrived in court at about 11:35 am.
It could be recalled that Justice Inyang Ekwo had, on Monday, ordered the industrialist, alleged to have fled the country, to honour the invitation by the anti-graft agency on Tuesday at noon.
Justice Ekwo, who gave the order in a short ruling, also ordered the EFCC, upon the appearance of Achimugu at its office, to return with her to court on Wednesday for a report.
Achimugu was, however, said to have been arrested by the EFCC’s operatives on her arrival abroad at about 5 am and kept in custody.
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