metro
Tinubu meets Dangote, crude for naira committee members
Tinubu meets Dangote, crude for naira committee members
PRESIDENT Bola Tinubu is currently in a meeting with members of the crude oil and refined products sales in local currency implementation committee.
The committee was led by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, to the State House, Abuja for the meeting.
Those attending the meeting include the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mr Mele Kyari; the Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji; and the Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso.
Also attending are the Authority’s Chief Executive (ACE) of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mallam Farouk Ahmed; the Commission Chief Executive (CCE) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe; as well as the President of Dangote Group, Alhaji Aliko Dangote.
It was gathered that the ongoing meeting was scheduled for the committee to brief President Tinubu on the progress of the arrangement, which was improvised by the Tinubu administration to relieve foreign exchange pressure on the economy.
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Recall that President Tinubu directed the NNPCL to commence sales of crude oil to Dangote Refinery and other local refiners on July 29 this year.
Details of briefings by the committee to the President are not available yet, however, it is believed the President Tinubu aims to keep abreast with developments in the industry.
Announcing the introduction of the initiative at the end of a Federal Executive Council (FEC) meeting, Zacch Adedeji, Special Adviser to the President on Revenue, said the basic reason was to reduce foreign exchange pressure on the economy.
“Today, at the Federal Executive Council, there was a memo by Mr President, which is to promote the sale of crude oil within local refineries and Nigeria National Petroleum Corporation (NNPC), to deal in our local currency.
“The attitude of Mr. President is thinking outside the box to solve Nigeria’s problem and actually to localised the solutions to Nigeria’s problem.
“He has approved through the Council that effective immediately, that NNPC get engaged with local refineries and we are starting that with Dangote Refinery. That the sales of crude oil to Dangote Refinery be denominated in Naria and also the sales of byproducts from Dangote Refinery to distributors also be conducted in naira.
“What does it mean to our economy? One, the pressure on foreign exchange will be reduced”, he said.
As part of the implementation, AFREXIM Bank was selected as the pilot settlement bank to facilitate the transactions.
Tinubu meets Dangote, crude for naira committee members
metro
200,000 repentant terrorists surrender, drop arms in North East – CDS
200,000 repentant terrorists surrender, drop arms in North East – CDS
The Chief of Defence Staff, General Christopher Musa, has disclosed that about 200,000 repentant terrorists have so far dropped their arms and surrendered to troops in the North East, noting that the twin strategy of kinetic and non-kinetic operations was responsible for this achievement.
The CDS made this known at the Security and Justice Symposium organised by the Office of the National Security Adviser (ONSA) in collaboration with the British High Commission, which began at the National Counterterrorism Centre in Abuja on Tuesday.
He disclosed that the theme of the symposium, ”Securing Peace, Ensuring Justice, Protection, Conduct, and Accountability,” speaks volumes about the deluge of security challenges the armed forces and security agencies are facing.
His words, “All the challenges we are facing today have to do with fairness, equity, justice, and accountability.
“There will not be peace without justice, equity, fairness, and accountability. In our operations, we are conducting both kinetic and non-kinetic strategies, which have to a large extent yielded significant successes, and we want to particularly thank the National Security Adviser for his great support in this regard.
“Nigeria is going through so many challenges, and we feel we’re able to address this, and everybody has a sense of belonging. A lot of the security challenges we are having, we are sure, will go down. I want to thank the National Security Advisor for all the support he’s given us, both the kinetic and the non-kinetic.
“We have said it; the kinetic aspect is just less than 30%. The non-kinetic has a lot to play. The non-kinetic, because when you have democracy, people must have the evidence of democracy. As long as it tells people to sleep well and be peaceful, and they are hungry, their children cannot eat, and all this creates more problems.
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“The issue of informants. We have to look at how we tackle this issue of informants. Because these are the people who have created the issue.
200,000 repentant terrorists surrender, drop arms in North East – CDS
metro
Robbers kill two members in shoot-out with Delta police
Robbers kill two members in shoot-out with Delta police
The spokesperson for the police in Delta State, SP Bright Edafe, has confirmed the death of two robbery suspects in the state.
Mr Edafe, who disclosed this to journalists on Tuesday in Warri, said that the deceased were killed from the bullets shot by their gang members.
According to him, the incident occurred on Wednesday at Effurun, Uvwie Local Government Area of the state.
Mr Edafe explained that the deceased were leading the police surveillance team attached to the Ekpan Division to their hideout when they were caught during a shoot-out.
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“The suspects were arrested at Effurun roundabout with a bag containing 57 live cartridges and other items. They were leading the surveillance team to their hideout at Warri/Sapele road when their gang members, on sighting the vehicle of the police team, engaged them in a shootout.During the gun duel, the arrested suspects that were leading the police team were fatally wounded by the gun shot of their colleagues. The two injured suspects were taken to the hospital and later died while receiving treatment,” he said.
Mr Edafe said that items recovered from the hoodlums hideout included: one English pump action gun, one locally made cut-to-size gun and eight live cartridges.
Others were: six iPhones, Smart phones and a Rolex wrist watch.
He said that the command had intensified manhunt on the fleeing members of the gang.
Robbers kill two members in shoot-out with Delta police
(NAN)
metro
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