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Naira Crude Sale Has Set Economy on Path of Industrialisation – Edun

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Mr Wale Edun, Minister of Finance and Coordinating Minister of the Economy, on Tuesday, said the sale of crude in naira to local refiners had set the Nigerian economy on the path of industrialisation and modernisation.

Edun, chairman of the committee, said this while addressing State House correspondents after a meeting with President Bola Tinubu to review the sale of crude in naira to local refiners at the Presidential Villa.

According to him, the bold initiative, endorsed fully by the Federal Executive Council (FEC), ensures crude oil is sold to local refiners in naira, who in turn sell refined products to marketers in naira.

He said although there was much to be done, but there was a clear path to industrial development and modernisation of the Nigerian economy, because the key prices were right, which was encouraging private sector investment.

“With private sector refining of crude oil, we now have raw materials, not just for agriculture, but for industry, for chemicals, for paints, for building materials and 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, restore its financial fortunes, and to give the federal, state and local governments more funding.

“This allows them to meet their obligations, salary payments to workers, social services to the population generally, and key infrastructure development,” said Edun.

The minister said the meeting reviewed the progress of the initiative to ensure that the initial obstacles to successful implementation of sale of cruse in naira to domestic refiners and the correlating sale of petroleum products in naira were overcome.

He said AfreximBank, the financial adviser, was part of the meeting, and would act as an intermediary to ensure that the parties – the seller of the crude, the buyer of the crude – were able to complete their transactions.

Edun said the scheme initiated by the President, was made possible also by the courageous and bold investment of the Dangote group, in a local refinery of 650,000 barrels per day capacity.

He said the implementation committee and the sub committee had worked assiduously with all stakeholders to ensure the initiative was implemented.

The stakeholders include the regulators, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NNDPRA) and Nigeria Upstream Petroleum Regulatory Commission (NUPRC).

Others are: the Nigerian Maritime Administration and Safety Agency (NIMASA) NNPCL, Nigerian Ports Authority (NPA), the Navy and a host host of other stakeholders.

Alhaji Aliko Dangote, chairman, Dangote Refinery and Petrochemical Company, said his company would be able to satisfy local demand with the supply of crude so far by NNPCL.

“This initiative will actually revive a lot of industries in plastic, cooking gas, which is LPG, aviation, gas, Oil, not only PMS.

“At about 420,000 barrels per day, we still have capacity to grow. We are ramping up our capacity. Once we get there, we have enough naira crude, we’ll be able to fully satisfy the market.

“But when NNPC refineries start working going forward, then Nigeria will be one of the biggest exporters of Petroleum  products in history,” said Dangote.

He said the President pledged at the meeting to support domestic industries, and allow local refineries to work, and attract more investment into the country. (NAN)

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Abuja Stampede: Wike Directs Free Treatment for Victims

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Federal Capital Territory (FCT) Minister, Nyesom Wike has directed government hospitals to provide free treatment to the people that sustained injuries during a stampede at the Holy Trinity Catholic Church in Maitama, Abuja.Wike gave the directive in a statement signed by his Senior Special Assistant on Public Communications and New Media, Mr Lere Olayinka, in Abuja on Saturday.

No fewer than 10 people including children lost their lives while 10 others sustained injuries to the stampede, during the distribution of food items to less privileged and the elderly by the church.
The sad incident occurred around 6:30 a.m on Saturday.Wike said that the FCT Administration would ensure that the injured received adequate medical attention.
The minister, who commiserated with the victims, also directed that henceforth, police permission should be obtained by individuals or organizations planning public distribution of palliatives, either food items or cash.Describing the incident as “painful”, Wike prayed for the repose of the souls of the lives that were lost and fortitude for their families to bear the irreparable loss.He commended the Police and other security agencies for their prompt intervention, saying, “the promptness in which security agencies responded to the incident was commendable.”In a related development, the FCT Emergency Management Department (FEMD), equally commiserated with the victims of the stampede.The acting Director General of the department, Mr Abdulrahman Mohammed, in a statement said that nine out of the 10 injured persons earlier taken to Maitama District Hospital, have been treated and discharged.Mohammed also appealed to organisations that intended to give out food items to the less privileged to involve security agencies or FEMD for adequate planning to ensure safety of beneficiaries.He also advised the use of coupons and segregation of the beneficiaries into groups to avoid crowd and rowdiness that could lead to stampedes.Similarly, the Police Command in the FCT has ordered organisations, religious bodies, groups, or individuals to notify the police when planning public events, charitable activities, or large gatherings in the territory.In a statement by the Police Public Relations Officer in the FCT, SP Josephine Adeh, said that the notification was to enable the police to deploy adequate security measures for public safety.According to her, failure to comply with the directive will result in the organisers being held liable for any incident or loss of life resulting from negligenceMeanwhile, the Nigeria Police Force has issued a warning against the unorganised distribution of palliatives and funfairs, which have led to stampedes and fatalities among vulnerable citizens.The Force Public Relations Officer, ACP Olumuyiwa Adejobi, gave the warning during a media briefing on Saturday in Abuja.Adejobi explained that the warning came in response to the increasing number of stampedes resulting in injuries and deaths, particularly during palliative distributions. (NAN)

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NDA Records Successes in Military Training, Academics in 2024

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The Nigerian Defence Academy (NDA), says it has recorded a lot of successes in military training and academic activities in 2024.

The Commandant of NDA, Maj.-Gen. John Ochai, said this at the Nigerian Defence Academy Social Activities (NDASA), held at the headquarters of the academy Afaka  on Friday in Kaduna.

Ochai said the essence of NDASA was to end training activities of the year.

He said the 2024 NDASA was unique because the academy marked 60 years of existence from 1964-2024.

Also of significance, Ochai said,  NDA had passed out the largest number of officers commissioned into the Armed Forces of Nigeria in 2024.

Equally, he said, in the same year (2024), the academy had the largest number of officers trained outside the country.

He emphasised that the NDA does not only train leaders for the Nigerian Armed Forces, but those for the Nigerian nation and humanity at large.

“After five years of training, we imbibe in officers leadership qualities that are everlasting.

”The traditions, ethos, characters that we instill in our cadets follow them forever and become very useful in all spheres of human endeavors,” Ochai said.

Mr Martins Amaram, Country Security Manager, Nigeria Breweries, PLC , who was the Special Guest of Honour, said the event fostered unity, cultural awareness and comradeship among the cadets and the larger community.

Amaram said, “The academy has always been a beacon of excellence in producing military leaders  for integrity, resilience and capacity to face in a dynamic and complex world .

“Beyond academics and military training the academy still values cultural respect and social engagement, recognising the diversity of our great country. Nigeria.”

He commended NDA for creating the platform where cadets can appreciate the rich cultures and build bonds that transit borders.

Amaram added, “The Armed Forces of Nigeria are playing a critical role in ensuring the stability and progress of our nation. “

He urged the academy to continue to record more successes in its mission of excellence and service to the nation.

Report says that awards were given to deserving soldiers who distinguished themselves in 2024.

report says that 22 soldiers were decorated from Warrant Officer(WO) to Master Warrant Officers(MWO). (NAN)

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Corps Member Donates Delivery Kits to Pregnant Women in Katsina

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A Corps member serving in Katsina State, Blessing Ene-Ameh, has distributed free delivery kits to 50 pregnant women in Mani town, Mani Local Government Area of the state

The corps member distributed the delivery kits to the expectant mothers in Mani on Friday as part of her personal Community Development Service (CDS)project.

Eneh-Ameh said that she visited a hospital in the area during one of her group CDS programmes and observed that the hygiene of women in the antenatal and children’s wards was not too good.

The corps member also stated that she had noticed that the turn up of pregnant women for antenatal care was very low.

She said, ”This attracted my attention to the need to educate pregnant women on its importance.

“There is also the need for them to keep themselves and their surroundings very neat to avoid infections for themselves and their babies.

“The aim was also to educate them on the importance of planning for the future of the baby.

”They also need to be staying clean to reduce the risk of contracting infections and other diseases by both the mothers and children, as well as the community in general.

“The training will empower the women to be able to handle and bring up children for the family,”  Eneh-Ameh explained.

The NYSC Coordinator in the state, Alhaji Sa’idu Ibrahim, commended the corps member for her ingenuity and magnanimity to carry out the project.

Represented by the Local Government Inspector, Alhaji Abdulrazak Ismail-Tsiga, the coordinator urged the corps members serving in the state and other parts of the country to emulate her. (NAN)

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