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Nigerian govt to sell crude oil in Naira to Dangote, other local refineries
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The Nigerian government has decided to sell crude oil to Dangote and local refineries to strengthen the Naira.
Gbenga Komolafe, the CEO of the Nigerian Upstream Petroleum Regulatory Commission, revealed this information on Monday during a briefing in Abuja.
According to him, Nigeria’s condensate and crude oil reserves rose to 37.5 billion barrels on January 1, 2024, with a 68.01-year life index.
“The commission, in conjunction with relevant stakeholders from NNPC Upstream Investment Management Services, representatives of Crude Oil/Condensate Producers, Crude Oil Refinery-Owners Association of Nigeria, and Dangote Petroleum Refinery came up with the template for the buy-in of all.
“This is in a bid to foster a seamless implementation of the DCSO and ensure consistent supply of crude oil to domestic refineries.
“The Petroleum Industry Act, PIA intends to make the implementation (of crude oil obligation) easy for producers and refineries.
“So, the answer simply is that the transaction currency would be in Naira or dollar. That is the simple answer.
“But we all know that if the transaction is carried out in Naira, that will free the pressure on the exchange rate.
“That will help the exchange rate. So that is the intent, and besides, the overall intent of the Petroleum Industry Act is to develop our midstream, which is a very laudable provision of the PIA,” he said.
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Imo govt warns nightclub, lounge proprietors against selling hard drugs to customers
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The Imo Government has issued a stern warning to hotel owners and nightclub operators, urging them to refrain from permitting the use of hard drugs within their establishments.
This announcement was made in a statement signed by Chief Ezechukwu Obonna, the Special Adviser to Governor Hope Uzodinma on Narcotics and Illicit Drugs Monitoring, and was shared with journalists in Owerri on Saturday.
According to Obonna, the state government has observed that hard drugs, especially cannabis, popularly called ‘loud’, are now being freely sold and consumed in public places, especially in lounges and nightclubs in the state, as if the drug is no longer prohibited by law.
He warned operators of nightclubs and lounges to immediately put an end to the consumption and sale of hard drugs, particularly in their business areas.
He said that any establishment found to be enabling or permitting the use of hard drugs would face severe consequences.
“The government is issuing this stern warning to lounge and nightclub owners across the state to note that the government will no longer tolerate the use of private businesses as havens for illicit drug use.
“We urge all lounge and nightclub owners to take responsibility for ensuring their patrons are not engaging in illicit activities.
“The Imo State Government is committed to protecting the health and well-being of its citizens, and we will not hesitate to take action against those who compromise this effort,” he said.
He added that the International Narcotics Control Board had expressed concerns about the growing trend of drug use and its impact on public health.
According to him, the Imo Government is taking proactive steps to address this issue and ensure a safer, healthier environment for all citizens.
“We appeal to all lounge and nightclub owners to cooperate with the government in this effort and to report any suspicious activities to the authorities immediately. Together, we can create a safer, more responsible tourism and entertainment industry in Imo,” he said.
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Watch Saturday episode of Your Family Lawyer on ‘How can I get a divorce under Islamic marriage
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Seasoned lawyer and progenitor of Your Family Lawyer, Chuma Chinye tackled how you can get a divorce under Islamic marriage.
Using vivid examples and solutions on how you can maintain a cool head when faced on how to get your rights under Islamic marriage.
Watch podcast below:
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BREAKING: Jubilation As PDP Wins All 30 LGs In Osun State(See winners)
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By Kayode Sanni-Arewa
The Osun State Independent Electoral Commission, OSSIEC, has announced that the Peoples Democratic Party, PDP, won all the local government and councillorship positions in the just concluded local government elections in the state.
The Chairman of the Commission, Hashim Abioye, made this announcement via a Facebook Live broadcast on Saturday evening.
Abioye stated that PDP candidates secured all the councillorship seats in all 332 wards in the state, as well as the chairmanship elections in all 30 local government council areas.
The names of the PDP chairmanship candidates and their respective local government council areas:
Babalola Wasiu Kayode – Boripe
Okunade Oluwafemi Adesanya – Egbedore
Adeyenuwo Rotimi John – Ife Central
Agboola Francis Olajire – Obokun
Azeez Lateef Adeniran – Isokan
Aina Abayomi Adesina – Boluwaduro
Sodiq Samuel Oluwapelumi – Ola Oluwa
Ajibade Oluwatoyin S. – Irepodun
Adebanjo Oladiti Tunmininu – Ilesa West
Ibironke Alade Adegboye – Atakumosa East
Aroke Muyiwa Aderemi – Ife South
Kolade Obafemi Kolawole – Olorunda
Moshood Adekunle Kabiru – Iwo
Awotunde Abiodun Sarafadeen – Ifelodun
Akande Taiwo Adekunle – Osogbo
Dada Feyisayo Ajibola – Atakumosa West
Amodu Taiwo – Ede North
Atolagbe Kayode Olayinka – Ifedayo
Akande Michael O. – Ife North
Adeyekun Taiwo Adebayo – Oriade
Adeniran Adenike Felicia – Ayedaade
Afolabi Oyekola Lukman – Ede South
Odunyemi Haruna Bukola – Ife East
Jooda Ambali Babajide – Irewole
Adewale Adeyinka Oluwaseun – Odo Otin
Ogunbiyi Solomon Akinyemi – Ayedire
Raimi Adenike Nafisat – Ejigbo
Adebisi Jayeola Nasir – Ila
Ilesanmi Taiwo Sunday – Ilesa East
Alade Aderemi Fatai – Orolu
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