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.
READ ALSO:
- Sanwo-Olu sues EFCC over alleged plan to arrest, prosecute him after tenure
- Dokubo-Asari: Tinubu protected me from Obasanjo’s onslaught
- BREAKING: APC suspends Aregbesola
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
Fashola: I Have Tinubu’s Ears, Can’t Advise Him on Television
Fashola: I Have Tinubu’s Ears, Can’t Advise Him on Television
![]()
metro
23 Farmers Killed as Bandits Launch Deadly Attack on Zamfara Community
metro
Court Sentences Three to Life Imprisonment Over Oyo School Kidnapping
Court Sentences Three to Life Imprisonment Over Oyo School Kidnapping
Justice Salim Ibrahim also sentenced one convict to 20 years in a separate terrorism charge, with trial continuing on remaining counts.
The Federal High Court in Abuja has sentenced three men to life imprisonment for their roles in the kidnapping of schoolchildren and teachers from schools in Oriire Local Government Area, Oyo State. Justice Salim Ibrahim handed down the sentences on Thursday after the defendants pleaded guilty to multiple terrorism-related charges brought against them by the Federal Government under the Terrorism (Prevention and Prohibition) Act, 2022.
The three convicts are Abdulrazak Umar, also known as Abu Khalifa or Abu Khalid; Yunusa Musa, also known as Yunusa bin Musa; and Shamsu Adamu Sani, also known as Abu Itisar. All three men are from Suleja Local Government Area of Niger State, and their arrest followed intelligence-led investigations by the Department of State Services.
The defendants were arraigned on a 10-count charge bordering on terrorism, kidnapping, concealment of information, incitement, and illegal mining. The Federal Government alleged that between January and May 2026, the defendants conspired with Muhammad Sani, Jibril Mohammed, and Ibrahim Khabab to kidnap schoolchildren and teachers in Oriire LGA, Oyo State. Prosecutors also accused them of aiding the abduction by concealing information about the identities and activities of the alleged masterminds, despite having prior knowledge of the plot.
READ ALSO:
- FG begins JAMB registration for NCE, non-tech agricultural programmes without UTME
- Nigeria Customs debunks fake recruitment update, warns job seekers
- Dangote Refinery resumes naira petrol sales, fixes gantry price at ₦1,215 per litre
The three defendants pleaded guilty to counts four and six of the charge. Count four related to the concealment of information about the terrorists who masterminded the school kidnapping, while count six addressed their membership of Darul Salam, described by the prosecution as an affiliate of Jama’atu Ansarul Muslimina Fi Biladis Sudan (Ansaru) , a proscribed terrorist organisation in Nigeria. The first defendant, Abdulrazak Umar, separately pleaded guilty to counts seven, eight, nine, and ten. These additional charges alleged that he provided training and instructions to terrorists through a WhatsApp group titled “The Oneness of Allah is the Foundation of Peace” , incited members to commit acts of terrorism through the same platform, and engaged in illegal gold mining at streams in the Chaza area of Suleja LGA between 2024 and 2026.
The Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN), who led the prosecution, urged the court to convict and sentence the defendants on the counts to which they had pleaded guilty. Justice Ibrahim convicted the three defendants and sentenced each to life imprisonment. According to reports, the judge also sentenced Umar to a 20-year imprisonment on count eight. The sentences are to take effect from the date of their arrest.
The abduction that led to these convictions occurred on May 15, 2026, when armed men attacked three schools in the Esiele and Yawota communities of Oriire LGA: Community Grammar School, Baptist Nursery and Primary School, and L.A. Primary School. In total, 39 pupils and seven teachers, including a principal, were taken during the attacks. The tragedy was compounded by the loss of two teachers: Mr Joel Adesiyan was killed while attempting to escape, and Mr Michael Oyedokun was beheaded by the kidnappers. The victims regained their freedom on July 10, 2026, after spending 56 days in captivity following a military operation. The Presidency stated that no ransom was paid and no concessions were made to the terrorists to secure the release of the victims.
The defendants pleaded not guilty to the remaining counts against them, and Justice Ibrahim has adjourned the matter to September 16 and 17, 2026, for the commencement of trial on those outstanding charges.
Court Sentences Three to Life Imprisonment Over Oyo School Kidnapping
![]()
-
metro3 days agoOyo High Court affirms Muslim students’ right to wear hijab in public schools
-
News3 days agoPandemonium in Osogbo as NURTW protest shuts motor parks, police deploy tactical teams
-
News2 days agoTinubu hands major federal appointment to Fayose, names 25 others
-
metro3 days agoCourt sentences Ansaru leaders to life imprisonment over terrorism, kidnapping
-
metro3 days agoCourt sentences pastor to death for killing daughter over alleged witchcraft
-
Auto3 days agoNo Hiding Place for Traffic Offenders as FRSC Unleashes 12 Special Operations Nationwide
-
metro2 days agoNBA election: Lawyers seek court order to halt Badejo-Okusanya’s swearing-in
-
metro2 days agoFake Medical Report Scandal: El-Rufai’s Personal Physician Faces MDCAN Panel, Criminal Charges
