News
Dangote faults fuel import as Tinubu summons Edun, Dangote, Kyari
The Chairman of Dangote Group, Aliko Dangote, on Tuesday, urged petroleum marketers, including the Nigerian National Petroleum Company Limited, to source petrol directly from his refinery to meet local demand.
This came as data obtained from the Nigerian Ports Authority showed that the NPA is expecting a vessel with 20,115,000 litres of Premium Motor Spirit, popularly known as petrol, on Wednesday, October 30, 2024, at the Tincan Island Port in Lagos.
Dangote confirmed the refinery’s readiness to supply fuel after closed-door talks with President Bola Tinubu at the Aso Rock Villa, Abuja.
He was part of a delegation of the Implementation Committee on Crude Oil and Refined Products Sales in Local Currency led by its chairman, Minister of Finance, Mr Wale Edun. NNPC GMD, Mr Mele Kyari, was also at the meeting.
The committee was at the Villa to brief President Bola Tinubu on its activities since the Federal Government first announced the policy last July.
He stated that the refinery can produce over 30 million litres of fuel daily at full capacity and currently holds 500 million litres in reserve, enough to supply the country for over 12 days without imports.
“We’re more than ready,” Dangote assured State House Correspondents, adding that the refinery’s production capacity could offset Nigeria’s fuel needs significantly.
Fuel queues have resurfaced, especially in cities like Lagos and Abuja, due to significant price hikes and supply chain issues.
NNPCL raised petrol prices to over N1,000/litre in some areas, exacerbating public frustration as some stations temporarily closed, leading to longer wait times and reliance on black markets.
The government attributes these challenges to recent logistical disruptions.
Addressing concerns of fuel scarcity in several parts of the country, he said, “I have a refinery. I’m not in the business of retail. If I’m in the business of retail then you can hold me responsible. But what I’m saying is that the retailers should please come forward and pick. If they don’t, come forward and pick, what do you want me to do?
“So I am expecting either the NNPC or the marketers to stop importing; they should come and pick because we have what they need. And as they move, I will be pumping.
“I don’t know whether you understand what it takes to keep a billion liters inside our tank. It’s costing me money every day. If I will be able to collect the naira, I can actually charge somebody 32 per cent in interest. So right now, that’s what I’m losing.
“And you are talking about 500 million, I mean, we don’t print money. But the issue is that if they come and collect then you will not see any queues in the filling stations.”
In July the Federal Government approved the adoption of the naira in crude oil trading with local refineries.
It committed to allocating 445,000 barrels a day of crude oil for domestic consumption to local refineries, beginning with the Dangote Refinery for six months.
The African Export and Import Bank, whose Chairman, Prof. Benedict Oramah, held talks with President Tinubu that month, was selected as the pilot settlement bank to facilitate the transactions.
President Tinubu’s Special Adviser on Revenue, Mr Zacch Adedeji, who also serves as Chairman of the Federal Inland Revenue Service, said during the pilot phase of the crude allocation, products will be supplied at a fixed naira-to-dollar exchange rate that will be reviewed every six months.
At Tuesday’s meetings, however, Dangote revealed that Naira-based crude and petroleum transactions will employ a market-driven exchange rate and competitive crude pricing.
He said President Tinubu directed that both NNPC and independent marketers purchase petroleum on these terms, with Afreximbank stepping in as the settlement facilitator between Dangote, other refiners, and NNPC.
“Based on our meeting, we will use a market-determined exchange rate and also the crude price.
“With that, Mr. President also directed that NNPC will buy. Marketers will also buy. They will be buying just like any other, that is NNPC retail.
“At the end of the day, we have also Afreximbank, which I think they are now going to be the go-between,” Dangote explained.
On his part, the Minister of Finance, Edun, noted that the move toward market-based pricing helps NNPC stabilise its finances, enabling greater funding for federal, state, and local governments to meet public obligations like salaries and infrastructure.
He said the private sector’s involvement and consistent policy support aim to sustain this progress, despite initial challenges.
“What made it most possible is that now we have market pricing of petroleum products. Relatedly, we have market pricing of foreign exchange that has set the economy on the path to industrialisation, because with private sector refining of crude oil, we now have raw materials, not just for agriculture, but for industry, chemicals, paints, for building materials for textiles, and of course.
“This is Mr President’s strategy and his policy of making conditions right for the private sector to invest, create jobs and grow the economy.
“Likewise, the market pricing of petroleum products, has also paved the way for NNPC to restore its balance sheet, and financial fortunes, and to give the federal state and local governments more funding to allow them to meet their obligations, salary payments to workers, social services to the population generally, and of course, key infrastructure development,” Edun explained.
The Executive Secretary of the Igbo Oriental Think Tank, Dr. Kenneth Anozie, has highlighted the vision of Dr. Chukwuma Anyichuks Odii for Ebonyi State ahead of the 2027 governorship election.
In a statement titled “Anyichuks Odii 2027: I Have a Dream for Ebonyi State,” Anozie compared Odii’s vision for Ebonyi with the transformational ideals associated with American civil rights leader Martin Luther King Jr.
According to the political analyst, Odii believes that Ebonyi State possesses enormous potential capable of benefiting the wider population rather than serving the interests of a few.
Anozie said Odii’s proposed agenda includes a restructuring of government to ensure equitable representation and development across the different zones of Ebonyi State.
He also listed improved infrastructure as a key component of Odii’s vision, particularly roads and other projects that would facilitate the movement of agricultural produce, stimulate industrial development and create employment opportunities for youths.
The analyst further said Odii plans to make the civil service more responsive to the needs of residents, establish major healthcare centres across the state’s local government areas to help reduce child mortality, and provide extensive ICT training for young people.
Anozie said the ICT initiative could position Ebonyi as a hub for technology talent, with trained professionals able to compete for opportunities locally and internationally.
“Anyichuks has a dream. Ndi Ebonyi need to cue in to that dream for the benefits of all,” Anozie said.
He urged Ebonyi residents to pay attention to the proposed agenda and participate actively in determining the direction of the state ahead of the 2027 election.
Dr. Kenneth Anozie is the Executive Secretary of the Igbo Oriental Think Tank and a political analyst.
…Governor trounces APC’s Oyebamiji with 66,252
The Independent National Electoral Commission has declared Governor Ademola Adeleke, of the Accord Party, the winner of the 2026 governorship election.
Announcing the final results, INEC Returning Officer, Prof. Joshua Ogunwole, the Vice- Chancellor of the Federal University, Oye-Ekiti declared Adeleke winner and returned him elected.
Ogunwole announced that the Accord candidate secured 511,067 while his closest challenger, Bola Oyebamiji of the All Progressives Congress, recorded 444,815 votes.
Adeleke trounced his major opponent with 66,252 votes amid wild jubilation by party supporters and other residents.
Details later…
The Osun State Governor and Accord Party candidate, Ademola Adeleke, has won 19 of the 30 Local Government Areas in Saturday’s governorship election, while the candidate of the All Progressives Congress, Bola Oyebamiji, secured victory in 11 LGAs.Download Offline Maps
The results are being collated and announced, with the Independent National Electoral Commission expected to make the official declaration after the completion of the process.
Adeleke recorded notable victories across several parts of the state, including Ede South, Ede North, Osogbo, Ife Central, Ife East, Ife North, Ilesa West, Odo Otin, Egbedore and Iwo.
Oyebamiji, however, won key LGAs including Ilesa East, Boripe, Irepodun, Obokun, Atakumosa West, Atakumosa East, Irewole, Isokan, Ola-Oluwa, Ife South and Olorunda.
The results announced so far show a closely contested election between the two major candidates, with the other candidates recording significantly lower figures in most of the LGAs.Download Interactive Maps
In Boluwaduro, Adeleke polled 7,118 votes against Oyebamiji’s 7,050. In Ede South, Adeleke secured 26,188 votes while the APC candidate scored 6,219.
Adeleke also won Ife North with 13,879 votes to Oyebamiji’s 9,613; Ilesa West with 16,196 against 12,756; Ifedayo with 7,427 against 6,836; and Ife Central with 21,171 against 15,913.
In Osogbo, Adeleke recorded 36,480 votes while Oyebamiji polled 30,474. He also won Oriade with 21,343 votes to 14,863 and Odo Otin with 18,003 votes against 15,435.
Other LGAs won by Adeleke included Ife East, where he scored 27,201 votes against Oyebamiji’s 18,600; Ifelodun, 21,107 against 18,396; Iwo, 27,085 against 19,660; Ede North, 35,427 against 10,283; Ila, 16,211 against 12,934; Ayedire, 11,073 against 9,910; Egbedore, 19,278 against 11,194; and Ayedaade, 16,681 against 15,719.Design Campaign Signs
Oyebamiji secured victories in Ilesa East with 16,208 votes against Adeleke’s 12,280; Boripe with 19,963 against 12,448; Irepodun with 15,713 against 14,504; and Obokun with 16,120 against 12,023.
He also won Atakumosa West, polling 10,037 votes to Adeleke’s 7,479; Irewole, 29,972 against 10,934; Atakumosa East, 9,936 against 7,872; Isokan, 14,063 against 13,765; Ola-Oluwa, 10,782 against 10,063; Ife South, 14,678 against 13,507; and Olorunda, 24,671 against 23,514.
The outcome places Adeleke ahead in the overall LGA tally, although the final result remains subject to the completion of the official collation and declaration by INEC.
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As of about 4:30pm on Saturday, INEC had uploaded 903 of the 3,763 expected polling-unit results to its Result Viewing Portal (IReV), representing about 24 per cent of the results expected across the state.
The emerging figures show Adeleke’s party making an early statement, particularly in Osogbo, where results from two polling units reviewed showed the Accord Party ahead of the All Progressives Congress (APC).
At Ward 4, Unit 39, Osogbo Local Government Area, Accord secured 65 votes, while the APC polled 43. The ADC recorded two votes, while ZLP, AA and AAC each scored one vote.
Another result from Ward 4, Unit 13, also in Osogbo, further tilted in favour of the Accord Party, which scored 134 votes against 75 votes for the APC. The ADC polled four votes, while ADP, AAC and APGA recorded one vote each.
The figures have placed Adeleke ahead in the early results emerging from the available uploads, although the lead cannot yet be treated as an indication of the final statewide outcome.
The race remains open, with thousands of polling-unit results still to be uploaded, verified and collated through the official INEC process.
The emerging results are nevertheless significant because they provide the first concrete picture of how the three leading contenders — Adeleke of the Accord Party, APC candidate Bola Oyebamiji and African Democratic Congress candidate Najeem Salaam — are performing in areas where results have been made available.
The early advantage for Adeleke comes after a tense election day marked by complaints over delays in the electronic transmission of results, alleged incidents of intimidation and vote-buying, as well as isolated reports of violence.
Adeleke had earlier expressed confidence in victory after casting his vote, while Oyebamiji also declared that he expected to win the contest. Salaam, meanwhile, raised concerns over the alleged non-recognition of some ADC agents and later reported an attack at his polling unit in Ejigbo.
Attention has now shifted from voting to the results battle, with parties and supporters closely monitoring the IReV portal and the official collation centres.
Following the conclusion of voting, presiding officers have commenced the sorting and counting of ballots at polling units, with results beginning to emerge from different parts of the state in Saturday’s governorship election.
Three major candidates in the Osun governorship election had expressed confidence in emerging victorious as the polls entered the sorting and collation stage, with each candidate and their supporters optimistic about securing the mandate of the electorate.
Governor Ademola Adeleke of the Accord Party, on Saturday, expressed confidence in emerging victorious in the ongoing governorship election after casting his vote at Sagba Abogunde Ward 2, Unit 9, in Ede North Local Government Area.
Meanwhile, the African Democratic Congress governorship candidate in Osun State, Najeem Salaam, raised concerns over the alleged non-recognition of his party agents in several areas across the state during Saturday’s election.
Meanwhile, as at 4.30pm, a check by our correspondent to the IReV portal indicated that 903 out of 3,763 units have been uploaded
Results announced so far:
1. Ward 4, Unit 39, Osogbo Local Government Area
ZLP — 1
AA — 1
AAC — 1
ADC — 2
APC — 43
Accord Party — 65
Presiding Officer: Oyeranmi Deborah
2. Ward 4, Unit 13, Osogbo Local Government Area
Accord Party — 134
APC — 75
ADC — 4
ADP — 1
AAC — 1
APGA — 1
Presiding Officer: Mabel Olowolayemo
3. From Ede North, 007/02/07/29
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