News
High expectation as Dangote refinery begins operation next month, to produce petrol November 30, orders initial crude oil need
The Dangote Petroleum Refinery is currently importing crude oil and expects its first crude cargo in two weeks’ time, the Executive Director, Dangote Group, Devakumar Edwin, has revealed.
Although the Nigerian National Petroleum Company Limited trades crude oil on behalf of Nigeria, Edwin in an interview with S&P Global Commodity Insights on Monday, said the NNPCL had committed its crude to other entities.
The Dangote refinery boss did not disclose the other entities receiving the oil company’s crude but NNPC disclosed last month it had entered into a $3bn crude oil-for-loan deal with African Export-Import Bank. The deal allowed the company to pledge future oil production to the bank as repayments for the loan.
As reported by the Punch, NNPC sources said on Tuesday the company had entered into crude oil contracts with a number of entities, a development that made it impossible for the organisation to meet Dangote’s need earlier.
A top official of the oil company was however quoted to have said plans were already underway to ensure Dangote’s refineries crude oil needs were met in November.
Also, Edwin pointed out that the importation of crude by Dangote refinery was temporary, as the firm would receive supply from NNPCL from November.
Edwin went ahead to state that the firm would begin the production of up to 370,000 barrels per day of crude that would give rise to Automotive Gas Oil, popularly called diesel, and jet fuel in October 2023.
For Premium Motor Spirit, popularly called petrol, the Dangote Group’s boss said the plant would produce it by November 30, 2023.
This came as oil marketers stated that the prices of diesel and jet fuel would only crash when the Dangote refinery starts receiving crude oil from Nigeria, and not by importing crude.
Meanwhile, Edwin stated in the interview that the Dangote Refinery would initiate a gradual increase in petrol production, aiming to reach an impressive 650,000 barrels per day by November 30.
He emphasised the refinery’s readiness to receive crude oil, stating, “Right now, I’m ready to receive crude. We are just waiting for the first vessel. And so, as soon as it comes in, we can start.”
Regarding the shift in the original timeline, Edwin clarified, during his conversation with S&P, that the NNPCL had already committed their crude oil to another entity on a forward basis, causing a temporary delay.
He said the setback was momentary, and the refinery would soon run exclusively on Nigerian crude oil as from November 2023.
It was also gathered on Tuesday in Abuja that the NNPCL had entered into crude oil supply commitments with other entities, but would ensure that it supplies the commodity to Dangote refinery in November.
In mid-August, the national oil firm announced that it had secured a $3bn emergency crude oil repayment loan from the African Export-Import Bank.
It had announced the acquisition of the loan in a brief statement titled, ‘Relief for the naira: NNPC Ltd secures $3bn emergency crude repayment loan from AFREXIM Bank.’
The statement read, “The NNPC Ltd and @afreximbank have jointly signed a commitment letter and term-sheet for an emergency $3bn crude oil repayment loan.
“The signing, which took place today at the bank’s headquarters in Cairo, Egypt, will provide some immediate disbursement that will enable the NNPC Ltd to support the Federal Government in its ongoing fiscal and monetary policy reforms aimed at stabilising the exchange rate market.”
Providing further explanation about the loan at the time, the Senior Special Assistant to President on Digital/New Media, O’tega Ogra, in several posts on X (formerly Twitter), explained that the $3bn was not a crude-for-refined products swap loan, but an upfront cash loan against proceeds from a limited amount of future crude oil production.
This confirmed that the national oil firm had really made commitments to other entities using the crude produced by Nigeria.
Ogra had said, “Is this loan risky for NNPCL or the Nigerian Treasury? No. The exposure for NNPCL is very limited, covering just a fraction of their entitlements. Additionally, there are no sovereign guarantees tied to this loan.”
News
Turaki-led PDP wins as Court of Appeal affirms Wole Oluyede as duly nominated candidate for Ekiti
Dr. Wole Oluyede has been affirmed as the duly nominated candidate of the Peoples Democratic Party, PDP, for the Ekiti State governorship election.
The Court of Appeal, Akure Division, made the affirmation in a landmark judgment, thereby giving validity of the Peoples Democratic Party (PDP) primary election for the same.
In a unanimous decision, the three-man appellate panel led by Hon. Justice Peter Chudi Obiorah, alongside Hon. Justice Jane Esienanwan Inyang and Hon. Justice Peter O. Affen, set aside the earlier judgment of the Federal High Court, Ado-Ekiti.
The justices held that the primary election conducted by the Kabiru Tanimu Turaki-led National Working Committee (NWC) was valid, transparent, and complied with the party’s constitution and the Electoral Act.
On the 13th of January, 2026, the Federal High Court, Ado-Ekiti nullified the Ekiti State Governorship primary election conducted on the 8th and 9th November, 2025.
Dissatisfied with the judgment, the Party appealed to the Court of Appeal and today, the Court of Appeal allowed the appeal and set aside the judgment of the Federal High Court..
The Court further held that the primary election was duly conducted.
This judgment effectively puts to rest the leadership and candidacy disputes that have shadowed the party’s preparations for the 2026 Ekiti State Governorship Election. By upholding the Turaki-led process, the Court has provided the necessary legal finality to ensure the PDP enters the general election as a unified front.
News
India slaps Nigeria, rejects Tinubu’s ambassador-designate
India and some other countries have reportedly declined to accept some of President Bola Tinubu’s recently posted ambassadors-designate due to diplomatic policies that discourage receiving envoys from administrations with less than two years remaining in office.
According to reports in the media, India, where career diplomat Ambassador Muhammad Dahiru has been designated to serve, maintains a standing policy against accepting ambassadors from governments with tenures of less than two years remaining.
India is exercising its discretionary powers to turn down the Ministry of Foreign Affairs’ request to accept Dahiru’s posting.
According to sources quoted by the report, the Federal Government was already receiving signals from New Delhi and possibly other capitals about their reluctance to grant agrément.
Agrément is the formal approval given by a receiving country to accept a diplomat designated by the sending country, and it is a prerequisite before an ambassador can assume duty.
“They don’t accept an ambassador from an administration that has less than two years in office. So they are giving us that body language already,” a Presidency official was quoted to have said
The source continued, “Some countries are reluctant to accept some people, not because of the individuals but because of time. They are already seeing the Tinubu government as an outgoing government.
“So their concern is that he has just one year left, so what if he doesn’t win the election? Another government may come and remove them. We also understand that some countries have this policy. Any ambassador from an administration that has less than a year or two in office will not get accepted. And one of such countries is India.”
News
Belonging to two political parties to attract imprisonment
The House of Representatives on Wednesday amended Section 77 of the recently assented Electoral Act 2026 to prescribe two-year jail term or N10 million fines or both, for anyone who knowingly maintains membership of two political parties at the same time.
Lawmakers during the committee of the whole presided by Deputy Speaker Benjamin Okezie Kalu, made amendment to section 77 of the 2026 Act by inserting three new clauses 8, 9 and 10 which were considered and approved by lawmakers after a heated session of back and forth debates.
According to the new clauses approved by lawmakers, any party member found to be registered as member of more than one political party at the same time will have his or membership of the said parties voided.
Clause (8) of the approved amendment stipulates that “A person shall not be registered as a member of more than one political party at the same time.”
Clause (9) stipulates that “Where it is established that a person is registered as a member of more than one political at the same time, such dual membership shall be void, and the person shall cease to be recognised as a valid member of any political party pending regularisation in accordance with the provisions of this Act and the constitution of the political party concerned.
Clause (10) stipulates that “A person who knowingly registers or maintains membership in more than one political party at the same time commits an offence is liable on conviction to a fine of N10,000,000 or to imprisonment for a term of two years, or both.”
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