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Petrol price to drop as Dangote begins crude oil lifting in Naira

The price of premium motor spirit, pms, also known as Petrol in Nigeria and other petroleum products may reduce in the coming days as the Nigerian National Petroleum Company, NNPCL begins to sale crude oil to Dangote refinery in Naira today, October 1st.
The Technical Sub-Committee on Domestic Sales of Crude Oil in Local Currency, on Sunday, confirmed that the supply of crude in naira by the Nigerian National Petroleum Company Limited to the Dangote Petroleum Refinery is to begin on Tuesday, October 1, 2024.
On September 13, 2024, the committee announced that the Federal Executive Council under the leadership of President Bola Tinubu approved the sale of crude to local refineries in naira and the corresponding purchase of petroleum products in naira.
“From October 1, NNPC will commence the supply of about 385kbpd (385,000 barrels per day) of crude oil to the Dangote refinery to be paid for in naira,” the committee had declared.
When contacted on Sunday and asked if the plan for the crude oil supply to the $20bn Lekki-based plant is still intact, the Special Adviser on Media to the FIRS Chairman, Mr Dare Adekanmbi, responded in the affirmative.
He said, “I can confirm to you that the Chairman, Sub-Technical Committee, Zacch Adedeji, is working day and night to ensure that things go according to plans. He knows how important it is to have the agreement implemented as has been planned for the benefit of Nigerians.”
This implies that NNPC is to supply about 11.5 million barrels of crude oil to the Dangote refinery monthly, and based on the deal, the plant will release equivalent volumes of refined diesel and petrol to the domestic market also in naira.
The panel explained in September that this initiative would help reduce pressure on the naira, eliminate unnecessary transaction costs, and improve the availability of petroleum products across the country.
“Since then, the implementation committee chaired by the Minister of Finance and we, the technical committee, have worked intensely with NNPC and Dangote refinery to fashion out the details of the modalities for the implementation of the FEC approval,” Adedeji had stated.
While stating that crude would be sold to Dangote in naira from October 1, the committee chairman and FIRS boss said, “In return, the Dangote refinery will supply PMS (petrol) and diesel of equivalent value to the domestic market to be paid in naira.
“Diesel will be sold in naira by the Dangote refinery to any interested off-taker. PMS will only be sold to NNPC. NNPC will then sell to various marketers for now. All associated regulatory costs (NPA, NIMASA, etc.) will also be paid in naira. We are also setting up a one-stop shop that will coordinate service provision from all regulatory agencies, security agencies, and other stakeholders to ensure a smooth implementation of this initiative.”
Adedeji explained that the technical committee that worked to flesh out the initiative would transition to an implementation execution and monitoring committee that would be working out of Lagos for the next three to six months.
The committee, which includes the Permanent Secretary of the Federal Ministry of Finance, Mrs. Lydia Jafiya; the FIRS boss, as well as representatives from NNPC, Central Bank of Nigeria, AfreximBank, and the Nigerian Upstream Petroleum Regulatory Commission, was set up to craft a robust template that will ensure the successful implementation of the initiative.
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Adeboye: God said my firstborn would die if I leave RCCG

Pastor Enoch Adeboye, the General Overseer of the Redeemed Christian Church of God (RCCG),, has said that God once gave him a stern warning never to leave the denomination, or face the death of his firstborn.
He shared this revelation during the June edition of the Holy Ghost Service, titled “Destined for Greatness (Part 2),” held in the early hours of Saturday at the Redemption City of God in Ogun State.
While speaking on the theme of divine direction and spiritual steadfastness, Adeboye referred to a message earlier delivered by his son, Pastor Leke Adeboye. He expressed concern over a growing trend among young Christians who frequently switch churches, often introducing themselves as first-time visitors in every new place they attend.
Recalling his own journey of faith, Adeboye said that when he became born again, several thriving ministries were popular and attractive at the time. Despite the appeal, he said God specifically instructed him to remain in RCCG.
“When I got born again, there were three major ministries that were making waves, and they were very good. There were different temptations to go from one to another,” he said. “But God said to me, ‘Son, I brought you here. This is where you will stay. The day you leave this denomination, your firstborn will die.’”
He noted that at the time, RCCG was relatively obscure, with its headquarters located in a modest building in Ebute-Metta, Lagos. Even though he was a university lecturer, he said God commanded him to serve under his spiritual mentor, who had no formal education.
“I was a lecturer at the university. My father in the Lord didn’t go to secondary school, not even primary,” he said. “But God said this is where you will stay.”
Pastor Adeboye urged young believers to seek divine direction and remain where God places them, rather than chasing trends or personal preferences.
“Discover where God wants you to stay, and stay there,” he advised.
He also clarified that his message was not intended to suggest that RCCG is superior to other Christian denominations.
“I am not saying we are better than any other denomination,” the cleric said.
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Deadly flooding: Zulum appeals to FG for speedy completion of Alau Dan to advert disaster

Borno State Governor, Babagana Zulum, has appealed to the Federal Government to fast-track the rehabilitation and expansion of the Alau Dam.
He made the appeal when the Shehu of Borno paid the traditional Sallah homage to the governor at Government House, Maiduguri, saying such was necessary to avert another Borno flooding disaster.
Zulum, who expressed concern over the slow pace of work on the project, warned that at the dawn of this year’s rainy season, urgent action was needed.
According to the governor, fast-tracking the project would prevent a repeat of the 2024 flood disaster which devastated Maiduguri and surrounding local government areas.
“After the groundbreaking ceremony for the reconstruction and expansion of the dam, which we all attended, the truth is that the work is not progressing as expected.
“The last time I visited the president, I informed him about the true state of the project. I assure you I will not relent. I will continue to follow up, and I have also notified the Vice President.
“In the meantime, the Secretary to the State Government has constituted a committee to provide immediate intervention at the dam,” Zulum said.
The Federal Government had earlier this year approved N80 billion for the reconstruction and expansion of the dam.
The intervention was aimed at mitigating a repeat of the dam’s collapse incident, which culminated in the severe flooding and damages that ensued.
A groundbreaking ceremony was held in March to mark the official commencement of the project.
Zulum also pledged to connect all local government headquarters in the state to the national electricity grid before the end of his administration.
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Gwogwogwongwo singer Mike Ejeagha dies at 95

Highlife music icon Mike Ejeagha has passed on at the age of 95. He was known for incorporating proverbs into his music and is the original owner of the now popular song-dance gwogwogwongwo.
Ejeagha died on Friday night at about 8 p.m. at the 32 Garrison Hospital in Enugu after a protracted illness.
His passing was confirmed by his eldest son, Emma Ejeagha.
Born on April 4, 1930, Mike Ejeagha launched his music career in really in life and significantly influenced the evolution of music in the Igbo language for over six decades.
He gained widespread fame after he was invited by the Nigerian Television Authority (NTA) as a guest presenter for an Igbo program, ‘Akuko N Egwu’, in 1972.
He is survived by his wife, children, and grandchildren.
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