1. What Tinubu Discussed With King Charles III – Presidency
The presidency has shared some details about the discussion President Bola Tinubu of Nigeria had with King Charles III at Buckingham Palace in London.
As reported earlier by Naija News, King Charles III hosted President Tinubu on Wednesday at the Buckingham Palace in the United Kingdom (UK).
Sharing details of the meeting between the two leaders, the Special Adviser to President Tinubu on Information and Strategy, Bayo Onanuga, said during the meeting, the Nigerian leader reiterated his country’s commitment to addressing climate change while ensuring energy security.
Onanuga, in a statement on Thursday, emphasized the nature of the private high-level discussion between President Tinubu and King Charles.
He disclosed that the meeting centred on potential areas of collaboration ahead of the upcoming COP 29 Summit in Azerbaijan and the Commonwealth Heads of Government Meeting (CHOGM) in Samoa.
The presidential aide noted that both leaders discussed efforts targeted at combating climate change and strengthening bilateral relations between Nigeria and the United Kingdom.
During the meeting, President Tinubu emphasized Nigeria’s readiness to implement global sustainability strategies in line with the country’s developmental goals. He highlighted the importance of balancing climate action with energy security to meet the needs of Nigeria’s growing population and economy.
2. Petrol Marketers Complained To Tinubu That Our Diesel Price Is Too Cheap – Dangote Refinery
Petroleum marketers in Nigeria have raised concerns over the impact of Dangote Refinery’s reduced diesel prices on their businesses.
In a letter to President Bola Tinubu, the marketers argued that the refinery’s local diesel price drop to ₦900 per litre is negatively affecting their operations.
Devakumar Edwin, Vice President of Dangote Industries Limited, addressed these issues during a Twitter Spaces session organized by Nairametrics on Wednesday.
Edwin detailed the challenges faced by the Dangote Refinery, highlighting the adverse effects on Nigeria’s fuel supply and pricing dynamics.
Edwin noted that the refinery, situated in the Lekki Free Zone near Lagos, is struggling to sell approximately 29 tankers of diesel daily due to insufficient local demand from petroleum product importers.
This lack of local patronage has forced the refinery to export a significant portion of its diesel and aviation fuel.
Despite these difficulties, Edwin emphasized that the Dangote Refinery’s capacity to produce petrol—44% of its total production—is adequate to meet the country’s local demand.
3. CBN Orders Payment Service Providers To Track PoS Transactions
The Central Bank of Nigeria (CBN) has issued a directive to all Payment Service Providers to begin routing all transactions conducted through Point of Sale (PoS) terminals.
Naija News reports that the CBN mandates routing all physical and electronic transactions through licensed Payment Terminal Service Aggregators to boost the monitoring of electronic payments in Nigeria.
The directive, which includes a 30-day compliance deadline, requires service providers to implement improved routing protocols for PoS transactions.
The move is part of CBN’s broader strategy to decentralize PoS transaction management and address concerns about the centralization of these transactions under a single entity.
The circular, signed by Oladimeji Yisa Taiwo on behalf of the CBN’s Payments System Management Department, stated that all PoS transactions must now pass through any CBN-licensed PTSA.
4. PDP Declines To Sign Peace Accord Ahead Of Edo Governorship Poll
The Peoples Democratic Party (PDP), on Thursday, refused to sign the peace accord for the Edo State Governorship election scheduled for September 21.
The development was disclosed by former Head of State, Abdulsalami Abubakar at the venue of the signing of the peace accord in Benin.
According to him, the PDP said it would only sign the peace accord if certain conditions are met.
The chairman of the PDP in the state was not at the venue to give details about why the party refused to sign the accord.
However, Governor Godwin Obaseki said on Wednesday his party, the PDP, might not sign the accord. The governor spoke about the likelihood of this when he met with members of the National Peace Committee.
5. Senate, Reps Postpone Resumption, Announce New Date
The Nigerian Senate has announced that lawmakers in the upper chamber of the National Assembly would no longer resume from their recess on September 17, 2024.
According to an internal memo rom the Clerk of the Senate, Chinedu Akubueze, the new resumption date has been fixed for Tuesday, September 24, 2024, at 11:00 AM.
The memo noted that the change in date is based on instructions from the Senate leadership.
The Internal Memorandum is titled “Change in Resumption Date from Summer Break”
In a similar development, the House of Representatives has postponed its annual recess, originally set to end on Tuesday, September 17, 2024. The new resumption date is now scheduled for Tuesday, September 24, 2024.
Hon. Akin Rotimi, Chairman of the House Committee on Media and Public Affairs, announced the delay in a statement to Parliamentary Correspondents on Wednesday.
He explained that the postponement was made to accommodate the inauguration of the new board of the Public Complaints Commission (PCC) and the formation of the Joint Senate/House Ad-hoc Committees on the Petroleum Industry investigation.
The decision to reschedule was communicated to members through an internal memo from the Clerk of the House, Dr. Yahaya Danzaria, Esq., following directives from the House Leadership.
6. NNPC Demands Permanent Office Space For Staff At Dangote Refinery As Part Of Crude Deal
The Nigerian National Petroleum Corporation (NNPC) Limited has requested dedicated office space for around 10 of its employees at the Dangote Refinery as part of an agreement involving the supply of crude oil.
During an X Space event hosted by Nairametrics titled “Unlocking How Dangote Refinery Shapes Price,” Vice President of Oil & Gas at Dangote Group, Devakumar V.G. Edwin, disclosed this development.
He explained that NNPC made the request since it would be responsible for supplying the crude oil, monitoring the production process, and repurchasing the refined products in Naira.
This arrangement involves the refinery purchasing crude from the government in Naira and selling Premium Motor Spirit (PMS) in the same currency rather than in dollars.
Edwin emphasized that negotiations with the government are ongoing, particularly regarding the pricing structure for crude oil, the pricing mechanism, and the exchange rate to be used for the Naira.
He noted that no final agreement had been reached yet, with several details still being discussed.
Speaking on behalf of Dangote, Edwin mentioned that Aliko Dangote had agreed to a proposal from the Federal Government to sell NNPC’s products back to the government in Naira, even though this might result in financial losses.
According to Edwin, Dangote recognized the potential losses due to fluctuations in the exchange rate but expressed his willingness to bear the cost for the benefit of the country.
7. CDS Sets December Deadline For Troops To Boost Oil Production To 2.2 Million bpd
The Chief of Defence Staff (CDS), General Christopher Musa, has tasked the Army, Air Force, and Navy with increasing Nigeria’s crude oil production from the current 1.35 million barrels per day (bpd) to 2.2 million bpd by December 2024.
General Musa issued this directive while inaugurating the Defence Joint Monitoring Team at the 6 Division of the Nigerian Army Headquarters in Port Harcourt, Rivers State, yesterday.
He called on the team to work closely with security agencies and key stakeholders to eradicate oil bunkering and related crimes in the Niger Delta region, emphasizing that the goal of the task force is to ensure the security of the country’s oil resources and maximize production.
The CDS also warned troops against colluding with saboteurs, stressing that anyone found guilty of compromising national assets would face severe consequences.
8. Northerners May Not Vote For Tinubu In 2027 If Insecurity Continues – AYCF
The Arewa Youth Consultative Forum (AYCF) has stated that President Bola Tinubu may not secure northerners’ support in 2027 if the insecurity situation in the region continues.
The National President of the Forum, Yerima Shettima, stated this on Wednesday during an interview with Punch.
He acknowledged that the challenges confronting Nigeria predated the Tinubu-led administration, but insisted that the way the President handles these issues will determine if the North will support his re-election in 2027.
While pledging that the AYCF was prepared to give the current administration the benefit of the doubt, Shettima added that they expected President Tinubu to provide the necessary leadership to tackle insecurity, revive the economy, and address communal crises across the country.
9. Nigerians Should Blame Themselves For Subsidy Removal – APC
The All Progressive Congress (APC) has said Nigerians should blame themselves for the fuel subsidy removed by President Bola Tinubu.
The National Publicity Secretary of APC, Felix Morka, said what President Tinubu did was to implement what the law stipulated.
He argued that the Petroleum Industry Act (PIA) passed into law by the National Assembly canceled payment of subsidy.
He explained that Nigerians failed to speak to their representatives in the National Assembly against passing the PIA.
Speaking with Arise TV, on Wednesday, Morka stated that what President Tinubu did was to permit the law.
Morka explained that subsidy was also unsustainable. He noted that the problem was that Nigerians have become dependent on fuel subsidy against international practice, but refused to call their National Assembly representatives to order.
The APC spokesman noted that NNPC did not completely remove fuel subsidy to avoid a complete shutting down of the economy.
10. Edo Election: Release Arrested PDP Leaders Or Charge Them To Court – Atiku Tells IGP
Former Vice President of Nigeria, Atiku Abubakar, has challenged the Inspector-General of Police, Kayode Egbetokun, to ensure the release of the arrested leaders of the Peoples Democratic Party (PDP) in Edo State.
Atiku, in a post via the X platform on Thursday, said it is a grievous affront by the Police and other security agencies to make such arrests on the eve of the governorship election in the state.
According to him, using federal assets against political opponents should not be encouraged in a democracy.
