Fuel scarcity will be over soon, days Senate leader

Senate Leader Opeyemi Bamidele provided reassurance to Nigerians that the ongoing fuel crisis will soon be resolved, expressing this commitment during an interview at the Oil Technology Conference in Houston, Texas.

Bamidele emphasized the legislature’s dedication to addressing fuel scarcity and long queues at filling stations, highlighting plans to engage additional private-sector entities in constructing new refineries.

“The Senate is working to ensure that more private-sector players are licensed to own and operate refineries. This is to support other smaller ones that are springing up in several parts of the country.

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“In addition to licensing new refinery operators, the Federal Government and Senate are working to ensure that the existing refineries are turned around with repairs and replacement of parts carried out where necessary,” he said.

Bamidele said the Senate had received an assurance from the Nigerian National Petroleum Company Limited that two of its refineries in Warri and Port Harcourt would come on stream before the end of the year.

He also noted that the commitment to licensing new refinery operators and revitalising existing refineries remained vital for increasing domestic oil production.

Opeyemi maintained that the focus was to ensure that Nigeria meets its OPEC production quota.

Fuel scarcity will be over soon, days Senate leader

Anxiety as another aircraft skids off Lagos airport runway

An Embraer 145 medium-ranger operated by Xejet Airlines, a premium services provider, went off the runway and landed in the grassy sections of Runway 18Left at Lagos Airport.

The plane, carrying 52 passengers and crew members, took off from Abuja Airport before to the incident on the Lagos Airport runway.

According to THE NATION, sources at the airport claim that due to the mobilization of officials from the Federal Airports Authority of Nigeria (FAAN) aerodrome fire and safety rescue unit to the location of the event in order to rescue the passengers, the 18Left Runway has been blocked to aircraft traffic.

“Another aircraft belonging to Xejet Airlines has skidded off the runway at the Lagos Airport . The incident occurred about 11:29 am, as the plane veered into the grass verge by B5,” the source hinted

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” The aircraft carries registration mark – 5NBZZ, an Embraer 145 had 52 passengers on board with three crew members.

Anxiety as another aircraft skids off Lagos airport runway

EFCC insists on naira, bans foreign currencies at embassies

The Economic and Financial Crimes Commission (EFCC) has directed that the Naira should be the only legal tender for transactions at foreign embassies in Nigeria.

The Commission also banned the use of dollars for business transactions and payment of other services at foreign missions in the country.

This was revealed in a letter dated April 5, 2024, addressed to the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, and his Ministry of Foreign Affairs.

According to the EFCC, Nigerian foreign missions abroad were also directed to accept naira in their financial businesses.

The EFCC also mentioned that the directives would help in combating the dollarization of the Nigerian economy and the depreciation of the naira.

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In the letter, the Chairman of the Commission, Ola Olukoyede, further expressed sadness over the invoicing of consular services in Nigeria by foreign missions in dollars.

Olukoyede said: “I present to you the compliments of the Economic and Financial Crimes Commission (EFCC) and wish to notify you about the commission’s observation, with dismay, regarding the unhealthy practice by some foreign missions to invoice consular services to Nigerians and other foreign nationals in the country in the United States dollar.

“This practice is an aberration and unlawful as it conflicts with existing laws and financial regulations in Nigeria. Section 20(1) of the Central Bank of Nigeria Act, 2007 makes currencies issued by the apex bank the only legal tender in Nigeria.

“It states that ‘the currency notes issued by the Bank shall be the legal tender in Nigeria on their face value for the payment of any amount’.

“This presupposes that any transaction in currencies other than the naira anywhere in Nigeria contravenes the law and is, therefore, illegal.”

EFCC insists on naira, bans foreign currencies at embassies