Wednesday, October 30, 2024

Nigerian MP apologises after viral taxi slapping video

Nigerian MP Alex Ikwechegh has apologised after a video went viral of him slapping and verbally abusing a taxi driver who had come to deliver food to his house.


“I sincerely apologise for my words and actions during this incident… As a public servant, I understand the weight of my role and how my words can impact others,” said the politician who was questioned by police over the incident on Sunday evening.

Bolt driver Stephen Abuwatseya accepted a job to deliver some snails to Ikwechegh’s home in the capital, Abuja, and began recording their conversation after an argument started over payment.

The lawmaker had accused the driver of disrespecting him and went on to slap him in the clip.

What appeared to have angered the 44-year-old politician from Abia state in south-eastern Nigeria was the driver’s request that he come outside to collect the delivery.

“So, you think I will give you my money with the way you have spoken to me?” he asked in the video recording.

Mr Abuwatseya responded: “I did a job for you, and you have to pay me, sir.”

The MP then phoned the snail seller to complain about the driver’s behaviour: “How can this stupid idiot come to my house and tell me that I’m supposed to come and meet him in his car and pick up snail that I’m buying from you?

“Can you imagine this rat? I can make this man to disappear in the whole of Nigeria and nothing would happen.”

He then turned back to the driver and continued the argument, asking if he knew who he was, repeatedly saying: “How dare you?”

He continued: “I will beat you up. I will show you that I’m a big brother to you. I will slap the hell out of you, lie you down, and lock you in my generator house. How dare you?”

When Mr Abuwatseya later made it clear he was recording, the MP challenged him to call the police chief.

The recording stopped when it appears the MP grabbed at the phone. In a later clip the driver is seen bare-chested and alleges the politician tore his shirt off and had slapped him three times in total.

In a statement on Monday, the police said they were investigating the matter and urged people to refrain from using the inspector general of police’s name “to intimidate others”.

In his statement, released on Tuesday, Ikwechegh extended his “heartfelt apologies” to the police chief “ recognising the unintended disparagement my remarks may have caused to his person, his office, and the entire institution”.

He also apologised to the House of Representatives, which, according to local media, has since referred the matter to its ethics committee.

“This incident has been a humbling reminder of the necessity for restraint and self-control, especially in challenging circumstances,” the legislator said.

“I am committed to using this experience as an opportunity for growth, both as a citizen and as a more empathetic representative of the people.”

Ikwechegh said he and Mr Abuwatseya had “explored alternative dispute resolution methods” to sort out the issue and had reached a “respectful resolution”.

By Lucy Fleming, BBC

Dangote says refinery has 500 million litres of petrol in storage, can meet Nigeria's demand

Nigeria's Dangote oil refinery has a stockpile of 500 million litres of petrol, its billionaire founder said, countering claims by marketers who asserted they needed to supplement Dangote's supplies with imports to meet fuel shortages.

Nigeria's President, Bola Tinubu, had summoned oil regulators, the head of the state-owned NNPC, the finance minister, and Aliko Dangote to a meeting in Abuja on Tuesday.

The purpose was to review a policy requiring NNPC to sell crude oil to the Dangote refinery in local naira currency in an effort to ease foreign exchange pressure and help the mega refinery secure enough crude to meet its 650,000-barrel-per-day capacity.

Following the meeting, Dangote clarified that his business is not involved in retailing petrol and he should not be blamed for fuel shortages in Africa's top oil producing country.

He also said that keeping fuel in storage tanks is costing him money.

"I expect the NNPC and marketers to stop importing. They should come and collect; we have everything they need," said Dangote.

Two weeks ago, local fuel traders began increasing imports, claiming that the Dangote refinery was unable to meet domestic demand, exacerbating fuel shortages.

The Dangote Oil Refinery in Lagos began processing petrol in September, initially setting out to supply 25 million litres per day. The goal is to gradually increase production to 35 million litres daily, which Dangote believes will be sufficient to meet local demand.

At an oil conference in Lagos on Monday, however, the sector regulator said Nigeria’s daily petrol demand is between 45 and 50 million litres.

In a statement issued by a government spokesperson, President Tinubu urged stakeholders to focus on supplying enough petrol for local consumption to reduce dependence on imports.

He also directed them to use Afreximbank, the financial adviser for the naira crude sale scheme, as the settlement bank for naira pricing of crude and refined products.

Dangote previously had to buy crude on the international market, but it filed a complaint saying oil majors were blocking its access to locally produced oil by selling it above market price or claiming it was unavailable, forcing the refinery to rely on expensive imports.

Wale Edun, Minister of Finance and Coordinating Minister of the Economy, said the plan to sell crude in naira would remain in place, and the government would not intervene in determining the exchange rate for the oil sector.

Nigeria aims to end the importation of petroleum products once the Dangote Refinery reaches full operational capacity.

By Isaac Anyaogu, Reuters

Related story: Video - Nigeria ends state oil firm's role as Dangote refinery's sole buyer

Tuesday, October 29, 2024

Video - Nigeria ends state oil firm's role as Dangote refinery's sole buyer



Nigeria's Minister of Finance says the new arrangement which allows independent marketers to also purchase products directly from the refinery will encourage a wider supply chain for products across the nation. However, energy experts say the government will need to revitalize more refineries that have been dysfunctional for years.

CGTN

Video - Building collapse in Nigeria's capital leaves at least 7 dead

A building collapsed in a suburban area of Nigeria’s capital over the weekend, killing at least seven people, police said Monday.

The building, located in the Sabon-Lugbe area of Abuja, had already been partly demolished and its structure was further compromised by scavengers looking for scrap metal, the Abuja police said.

Abuja police spokesperson Josephine Adeh said five people were rescued from the rubble on Sunday.

Building collapses are becoming increasingly common in Nigeria, with more than a dozen such incidents recorded in the last two years. Authorities often blame such disasters on failures to enforce building safety regulations and on poor maintenance.

Nigeria, Africa’s most populous country, has recorded 22 building collapses between January and July this year, according to the Council for the Regulation of Engineering in Nigeria.

In July, a two-story school collapsed in north-central Nigeria, killing 22 students. The Saints Academy college in Plateau state’s Busa Buji community collapsed shortly after students, many of whom were 15 years old or younger, arrived for classes. 

By Dyepkazah Shibayan, AP

Nigeria signs funding deal with IFC to boost naira currency financing

The central bank of Nigeria has signed an agreement with the International Finance Corp to expand local currency financing for Nigerian businesses and cut foreign exchange risks, the agencies said in a statement on Monday.

The IFC, a World Bank Group member, aims to "significantly scale up" its financing in Nigeria, targeting over $1 billion in the coming years, the statement said.

The partnership will enable IFC to manage currency risks and increase its investments in Nigeria's naira currency across agriculture, housing, infrastructure, energy, small and medium-sized enterprises, and the creative industry.

"Many of these sectors require local currency financing, and IFC's partnership with the (central bank) is a key tool in expanding access," the statement said.

By Elisha Bala, Reuters

Google among investors putting $110 million into Nigeria's Moniepoint

Nigeria based fintech Moniepoint has raised $110 million in new funding from investors including Google to scale up digital payments and banking solutions across Africa, the company said on Tuesday.

Moniepoint started operations in 2015 providing infrastructure and payment solutions for banks and financial institutions but has grown to also offer personal banking services.

The latest funding round was supported by existing investors London-based Development Partners International and private equity firm Lightrock. Google's Africa Investment Fund and Verod Capital came in as new investors.

Sources close to the transaction said the new funding valued Moniepoint above $1 billion, giving it "unicorn" status - a term for tech firms with a valuation of a billion dollars or more.

The new capital would be used to speed up Moniepoint's growth across Africa and build an integrated platform for businesses.

"This platform will include services such as digital payments, banking, foreign exchange (FX), credit, and business management tools, making it a one-stop shop for business solutions," Moniepoint said.

Nigeria is the fastest growing fintech market in Africa, driven by its more than 200 million people, many who still lack access to financial services like banking.

Moniepoint started offering personal banking services in August last year.

The fintech says it processes over 800 million transactions, with a monthly value of more than $17 billion.

By MacDonald Dzirutwe, Reuters

Monday, October 28, 2024

CAF awards Super Eagles 3 points, 3 goals against Libya

The Confederation of African Football, CAF, on Saturday awarded three points and three goals to the Super Eagles following the botched 2025 Africa Cup of Nations qualifier against Libya.

The Super Eagles consolidated their top position in the group following the verdict.

The Nigerian side now have 10 points from four matches, four points clear of nearest rivals Benin.

Libya remain bottom of the group with one point.

A draw with Benin in Abidjan next month will qualify the Super Eagles for the 2025 AFCON to be hosted by Morocco in December 2025.

The Confederation of African Football (CAF) also fined the Libya Football Federation $50,000.

The fine is to be paid within 60 days of notification of the decision.

Daily Post

Related story: Video - Libya blames Nigeria for abandoned AFCON clash in Benghazi

Nigeria Football team boycotts Africa Cup qualifier after being stranded at Libya airport

 



Starlink reverses price hike in Nigeria three weeks after NCC directive

SpaceX-owned Starlink has reversed its decision to double base subscription prices in Nigeria, following a block by the country’s communications regulator three weeks prior.


The company raised the standard residential plan with a 1 TB fair usage policy to ₦75,000 ($48) from ₦38,000 ($24). Roaming customers saw the steepest hikes, with local roaming, allowing Starlink use beyond home or work in Nigeria, rising to ₦167,000 per month from ₦49,000.

International roaming costs were raised to ₦717,000 per month.

The new rates were scheduled to take effect on October 31st.

While Elon Musk posted on X that Starlink’s subscription prices are adjusted for inflation, Nigerian regulators have set pricing guidelines for ISPs and have previously blocked other providers’ requests to raise data prices.

In a statement to TechCabal, the regulator stated that Starlink did not “receive the approval of the Nigerian Communications Commission (NCC).”

The NCC instructed Starlink to reverse the price increase or face sanctions.

The commission added that Starlink’s action contravened “Sections 108 and 111 of the Nigerian Communications Act (NCA), 2003, and Starlink’s Licence Conditions regarding tariffs.”

Tech in Africa

Related story: Nigeria To Sanction Elon Musk’s Starlink For Illegal Price Hike

Friday, October 25, 2024

Netflix's new Nigerian movie Hijack '93 out today


On 25 October 1993, four teenage boys boarded a Nigeria Airways flight from Lagos to Abuja with a clear agenda: hijack the aircraft, take all 193 passengers hostage and force the government to bend to their demands.

The moment the pilot told passengers they could unfasten their seatbelts, the young men - aged between 16 and 18 - sprung into action.

After entering the cockpit with a fake gun, the second step of their plan was to declare that the commercial aircraft - which had several leading politicians on board - was now being controlled by the Movement for the Advancement of Democracy (MAD).

'Remain calm, we will not harm you,' they reportedly told the terrified travellers. 'You will be told where the plane will land you.'

But despite their claims that there would be no casualties, the teenagers' carefully constructed plan quickly descended into chaos - culminating in the death of a crew member following four days of tense negotiations.

31 years on from the incident, Netflix has dramatised the case in their film Hijack '93, which lands on the streaming platform tomorrow.

Here FEMAIL delves into hijacking that had Nigeria on tenterhooks in October 1993 - and why the men have since been celebrated as heroes.
 

Political unrest in run-up

The 1980s and 1990s were a particularly turbulent time for politics in the West African country.

In 1983, the Nigerian military staged a coup to overthrow President Shehu Shagri's elected government.

Over the next 10 years, power only passed through the hands of the military, which resulted in internal uprising and power struggles among leaders.

In 1990, Major Gideon Orkar attempted to overthrow the government through a failed military coup - after General Ibrahim Babangida took power via the same means five years before.

Three years later, the country went to the polls for the first time in over a decade - with Chief Moshood Kashimawo Olawale Abiola, who was the leader of the Social Democratic Party, winning over the National Republican Convention's Alhaji Bashir Tofa.

Although MKO Abiola won in a landslide and secured eight million votes, the military government proceeded to annul the election - citing security threats.

At the time, military leader General Ibrahim Babangida said in a statement that 'these steps were taken to save our judiciary from being ridiculed and politicized locally and internationally'.

However, the decision led to unrest among the population amid growing fears there would be indefinite military rule.

A Western diplomat in West Africa told the New York Times in 1993: 'The military has only themselves to blame for this mess.'
 

Hijacking plane with a toy gun

After three months of protests, teenagers Richard Ogunderu, Kabir Adenuga, Benneth Oluwadaisi and Kenny Rasaq-Lawal decided to send a message to the Nigerian government.

When they boarded the Nigeria Airways plane, the foursome had already prepared statements demanding MKO Abiola be instated as the country's rightful leader, which they handed out to passengers.

They also demanded the military return embezzled money to the state and reopen a series of closed newspaper companies and universities.

Before the incident, Ogunderu - who grew up in a middle class neighbourhood and was one of five children - told Sahara Reporters that some of them had not even been on a plane before.

Speaking to Neusroom in 2022, Richard Ogunderu's father Yemi described him as 'strong-willed and obstinate'.

He added: '[Richard] would tell me, "you old men just sat there bemoaning your fate, won’t you do something about this country?"

'The relationship between us was beyond father and son. We relate like brothers. I didn’t even know when he became a member of MAD. He had never discussed activism with me even though he knew I’m highly opinionated about socio-political issues.'

Speaking to The Punch, one of the hijackers said they targeted this specific aircraft because it 'flew the calibre of people we wanted to deal with'.

As well as China's vice president Rong Yiren, there were also top Nigerian government officials on board.

Speaking to the Sahara Reporters in 2009, Richard Ogunderu - who was the group's leader - explained: 'We were on a mission.

'We wanted to show the evil [military] regime that young people were prepared to go the extra length to free Nigerians from the yoke of military dictatorship.'

He then revealed how he was the one to enter the cockpit, where he pointed a fake gun at the pilot and told him to redirect the plane. A fellow hijacker later claimed that Ogunderu pretended to be a student who wanted to look at the plane's controls.

Although reports stated that Ogunderu wanted to land in Germany, the plane didn't have enough fuel - as their planned journey should have only taken just over an hour.

As such, the hijacker settled on Niamey in Niger instead - where they were met with armed forces.

While the aircraft was still in the air, the hijackers doused themselves in the six litres of fuel they had smuggled onto the plane and threatened to set themselves on fire if passengers didn't follow orders.
 

Threatening to blow up plane

After the plane landed, the hijackers began negotiations with the police - with the foursome initially demanding they get more fuel so they could fly to Frankfurt.

When this was denied, they teenagers urged the government to recognise the results of the June Nigerian Presidential election.

If MKO Abiola was not sworn in as President in 78 hours, the teenagers claimed they would set the plane on fire.

In an interview with The Nollywood Reporter in July 2023, Richard explained how he was connected to a BBC journalist to 'tell the world their message'.

He added: 'I said we were going to burn the plane within 78 hours if our requests were not met.

'Of course, that was just a scare tactic. We've decided to let the pleading passengers go the next day.'

In the first two hours, the hijackers released women and children - before releasing a further 129 the following day, including the Chinese vice president.

However, they refused to give up the crew or Nigerian government workers.

At first, the authorities offered not to arrest the hijackers - as long as they released the remaining hostages.

Ogunderu added: 'We were not afraid, at that moment, death meant nothing to us.'


Rescue operation leaves one dead

For four days, authorities held off on entering the aircraft - fearing the hijackers may detonate a bomb.

But on 28 October, police stormed the plane in the middle of the night.

'They thought we were asleep, so they came under the cover of the night and fired several shots,' Ogunderu said. 'They bombarded the plane.'

The rescue operation claimed the life of crew member Ethel Igwe while Richard was also injured. One of the hijackers later said over 300 shots were fired during the mission.

Richard told the Nollywood Reporter: 'I am deeply sorry about [Ethel's] death, and that in itself was one of the reasons we were clamouring for democracy.

The military government was notorious for wanton killing and abuse of human rights. That should never have happened.'

Following this, the hijackers were arrested and were sentenced to over nine months in prison in Niger. They claim to have served their sentence in one small cell, which also served as a toilet.
 

Remembered as 'heroes'

Despite the teenagers' efforts, the interim military government was replaced by General Sani Abacha's dictatorship.

The late dictator was in power from 1993 to 1998 and was the last successful military coup in the country's history.

Although they were unsuccessful in achieving their goal, Richard Ogunderu, Kabir Adenuga, Benneth Oluwadaisi and Kenny Rasaq-Lawal are seen by some as modern-day 'heroes'.

Speaking to The Punch in 2023, Benneth Oluwadaisi said he wanted to 'fight for the stability of democracy in Nigeria'.

In response to the report, one X user wrote: 'These guys are heroes, honestly. The way they went about it, though, wasn't plausible, but they have earned my respect for their courage and brevity.'

Another added: 'In as much as this is a wrong thing to do, I'm proud of them. They fought for freedom, democracy and what they believed in.'

By Lydia Hawken, Daily Mail
 

Related story: 3 Nigerians selected for Netflix Development Lab to engender more local African content

Nigeria Joins BRICS as Partner Country

Nigeria has officially joined the BRICS economic bloc as a partner country, alongside 12 other nations, marking a significant step in deepening its global economic relations.

The announcement was made at the BRICS summit held in Kazan, Russia, from October 22 to 24, 2024, further consolidating Nigeria’s economic ties with emerging markets.

In addition to Nigeria, the countries now recognized as BRICS partner nations include Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Thailand, Turkey, Uganda, Uzbekistan, and Vietnam.

While these nations have not attained full membership status, their inclusion represents a pivotal moment for the bloc as it continues to expand its influence.

A statement on the BRICS official X (formerly Twitter) handle on Wednesday confirmed, “BRICS officially adds 13 new nations to the alliance as partner countries (not full members).”

This decision reflects the bloc’s commitment to fostering cooperation and growth among diverse global economies.

Nigeria’s inclusion comes on the heels of a notable surge in foreign capital inflows from BRICS nations, which soared by 189% in the first half of 2024.

The inflows reached $1.27 billion, compared to $438.72 million during the same period in 2023.

This significant economic boost signals the growing economic synergy between Nigeria and BRICS member states.

The Kazan summit, themed “Strengthening Multilateralism for Fair Global Development and Security,” is the sixteenth annual BRICS meeting and comes at a time of increased global interest in multilateral cooperation. Nigeria’s addition to the bloc as a partner country aligns with its strategic ambitions to deepen economic integration and foster trade with key emerging nations.

The BRICS bloc, originally formed by Brazil, Russia, India, and China (BRIC) in 2009, welcomed South Africa as a full member in 2010, rebranding the group to BRICS. Since then, the organisation has emerged as a powerful coalition of developing economies with an emphasis on fostering trade, investment, development, and security.

This year’s summit was attended by new full members Iran, Egypt, Ethiopia, and the United Arab Emirates, who officially joined BRICS in January 2024.

The inclusion of partner countries like Nigeria and the aforementioned 12 nations highlights BRICS’ ongoing efforts to expand its global reach and strengthen economic ties across continents.

The prospect of Nigeria becoming a full member of BRICS has been a topic of discussion for some time. In November 2023, Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, indicated the country’s ambition to join BRICS and the G20 group of nations within two years. He emphasized that Nigeria’s large economy and substantial population made it a suitable candidate for such organizations.

Tuggar’s statement reflected the growing recognition of Nigeria’s importance on the global economic stage and its potential to contribute to multilateral organizations like BRICS. As a partner country, Nigeria is now positioned to further leverage its economic strengths and continue building its international partnerships.

By Chioma Kalu, Arise News

Related story: Video - Nigeria among several nations seeking to join BRICS

Nigeria releases American crypto executive after dropping money laundering case

An American cryptocurrency executive held in Nigeria for the past eight months has been released after authorities there announced they were ending his money laundering trial on health and diplomatic grounds.


Tigran Gambaryan, Binance’s head of financial crime compliance, was freed on a humanitarian basis and was returning to the United States to receive medical attention, White House national security adviser Jake Sullivan said in a statement Thursday announcing the release.

“I am grateful to my Nigerian colleagues and partners for the productive discussions that have resulted in this step and look forward to working closely with them on the many areas of cooperation and collaboration critical to the bilateral partnership between our two countries,” Sullivan said. He said he had spoken with Gambaryan's wife “to share the good news.”

Gambaryan was arrested in February during a business trip to Nigeria alongside Nadeem Anjarwalla, the company’s regional manager in Africa, who fled custody and remains at large.

Nigerian authorities had accused Binance, the world’s largest cryptocurrency exchange, and Gambaryan of using the platform to launder up to $35 million and to manipulate the local naira currency, which they deny.

Nigeria is Africa’s largest crypto economy in terms of trade volume, with many citizens using crypto to hedge their finances against surging inflation and the declining local currency.

But as its users grew and the government struggled to stabilize the currency, officials alleged without providing evidence publicly that the platform was being used to launder money and finance terrorism, forcing it to stop all trading with the local currency on its platform.

On Wednesday, R.U. Adaba, a prosecuting lawyer with Nigeria’s Economic and Financial Crimes Commission, told the Federal High Court in Nigeria’s capital, Abuja, that the government was ending the case after “taking into consideration some critical international and diplomatic reasons."

Binance still faces charges on suspicion of tax evasion and operating without the required license.

Gambaryan’s trial has been shrouded in controversy, including over allegations that he and his colleague were illegally detained and their passports seized. Binance also alleged that Nigerian officials demanded bribes to release him and Anjarwalla.

The Nigerian government denied the bribery allegation and defended the prosecution as following the rule of law.

Gambaryan’s health deteriorated as his court case dragged on. The court in Abuja denied him bail twice after a judge ruled he was a flight risk and that he should remain at the Kuje prison in the capital city.

By Chinedu Asadu, AP

Related story: Nigeria drops money laundering charges against Binance executive

Thursday, October 24, 2024

Tinubu sacks five ministers, reassigns ten, appoints seven new ones

President Bola Tinubu has sacked five ministers and appointed seven new ones. The president also reassigned ten ministers to new positions, his office said.

The five sacked ministers are Uju-Ken Ohanenye, the former minister of Women Affairs; Lola Ade-John, the former minister of Tourism; Tahir Mamman, the minister of Education; Abdullahi Gwarzo, minister of state, Housing and Urban Development, and Jamila Ibrahim, minister of Youth Development.

The newly appointed ministers, who would still have to be confirmed by the Senate, are Nentawe Yilwatda, Muhammadu Dingyadi, Bianca Odumegu-Ojukwu, Jumoke Oduwole, Idi Maiha, Yusuf Abdullahi Ata, Suwaiba Ahmad.

The presidency said the dismissal and appointments are part of “eight far-reaching actions to reinvigorate the Administration’s capacity for optimal efficiency pursuant of his commitment to deliver on his promises to Nigerians.”

Read the full statement from the president’s office below.

President Bola Ahmed Tinubu GCFR has approved the immediate implementation of eight far-reaching actions to reinvigorate the Administration’s capacity for optimal efficiency pursuant of his commitment to deliver on his promises to Nigerians.

The eight actions approved by Mr. President include:

1. The renaming of the Ministry of Nigeria Delta Development to Ministry of Regional Development to oversee the activities of all the Regional Development Commissions. The Regional Development Commissions to be under the supervision of the new Ministry are; the Niger Delta Development Commission, the South East Development Commission, the North East Development and the North West Development Commission.

2. The immediate winding up of the Ministry of Sports Development and the transfer of its functions to the National Sports Commission in order to develop a vibrant sports economy;

3. The merger of the Federal Ministry of Tourism and the Federal Ministry of Arts and Culture to become Federal Ministry of Art, Culture, Tourism and the Creative Economy;

4. The re-assignment of ten (10) ministers to new ministerial portfolios;
5. The discharge of five (5) Ministers.
6. The nomination of seven (7) new ministers for onward transmission to Senate for confirmation;
7. The appointment of Shehu Dikko as Chairman of the National Sports Commission;
8. The appointment of Sunday Akin Dare as Special Adviser to the President on Public Communication and Orientation working from the Ministry of Information and National Orientation

The President thanked the outgoing members of the Federal Executive Council for their service to the nation while wishing them the best in their future endeavours. He then charged the newly appointed ministers as well as their reassigned colleagues to see their appointment as a call to serve the nation. He added that all appointees must understand the administration’s eagerness and determination to set Nigeria on the path to irreversible growth and invest the best of their abilities into the actualisation of the government’s priorities.

Premium Times

Wednesday, October 23, 2024

Nigeria drops money laundering charges against Binance executive

Nigeria's government has withdrawn a money laundering case against Binance executive Tigran Gambaryan to allow him seek medical treatment abroad, the government's lawyer said on Wednesday.

Gambaryan, a U.S. citizen and head of financial crime compliance at Binance, has been in detention in Nigeria since late February and has been charged with laundering more than $35 million. Gambaryan and Binance deny the charges.

The government's lawyer said it would continue the money laundering case against Binance without Gambaryan. Separate tax evasion charges against Binance, the world's largest crypto exchange, remain in place. Binance has also denied those charges. 

Reuters

Related story: Binance exec and former U.S. agent Tigran Gambaryan denied bail by Nigeria

Tuesday, October 22, 2024

Video - Nigeria tourism stakeholders welcome Chinese infrastructure investment



Nigeria is home to a range of incredible attractions, but many sites remain difficult to access due to poor infrastructure and neglect. China's infrastructure agreements with Nigeria could change this, paving way for a more accessible tourism sector through road, energy, and railway projects.

CGTN

Video - Libya blames Nigeria for abandoned AFCON clash in Benghazi



The Libyan Football Federation says the flight delays that affected the Super Eagles, which ultimately led to the abandonment of their fixture in Benghazi, were caused by routine air traffic and logistical challenges rather than deliberate foul play. The federation also highlighted the fact that the Mediterranean Knights of Libya also faced challenges after arriving in Nigeria for their 2025 Africa Cup of Nations qualifier last week. 

CGTN

Related story: Video - Nigerians react to abandoned AFCON clash against Libya

Nigeria Football team boycotts Africa Cup qualifier after being stranded at Libya airport

 

Nigerian drivers face hurdles in the transition to natural gas-powered vehicles



Nigerian authorities plan to convert 1 million gasoline-engine vehicles to run on cheaper, cleaner compressed natural gas, or CNG, by the year 2027. Nigeria has some of the largest gas reserves in the world. But with only a few CNG filling stations available in the country, many who have converted the vehicles are facing a new challenge. Timothy Obiezu reports from Abuja.

VOA

Nigeria approves Exxon-Seplat deal after more than two years

Nigeria has approved the sale of Exxon Mobil Corp's onshore assets to Seplat Energy, the chief executive officer of the country's upstream regulator said on Monday, more than two years after the $1.28 billion deal was first agreed.

The sale had been under scrutiny as it awaited regulatory approval since it was first announced in February 2022.

President Bola Tinubu said on Oct. 1 the deal would receive ministerial approval in a matter of days after getting clearance from the regulator.

Nigerian Upstream Petroleum Regulatory Commission (NUPRC) CEO Gbenga Komolafe said on Monday at an event in the capital Abuja that the ministerial approval had been granted.

Under the deal, Seplat will own 40% of four oil mining leases and associated infrastructure, including the Qua Iboe export terminal, and 51% of Bonny River natural gas liquids recovery plant previously owned by Mobil Producing Nigeria Unlimited, Exxon's local unit.

Oil majors operating in Nigeria - Africa's largest oil exporter - have been retreating from onshore operations hampered by theft and sabotage, opting to focus future investments on newer and more lucrative deep offshore fields.

In July the NUPRC approved the sale of onshore assets by Eni's local unit to Oando and another from Equinor to new entrant Project Odinmim.

The regulator offered in May faster approvals for pending asset sales by oil majors if they took responsibility for oil spills and compensated impacted communities rather than wait for authorities to apportion liability. 

Reuters

Monday, October 21, 2024

Video - Nigerians react to abandoned AFCON clash against Libya



The aborted 2025 Africa Cup of Nations qualifier between Libya and Nigeria that was due to be played in Benghazi earlier this week elicited sharp reaction from Nigerians. The Nigerian Football Federation pulled the Super Eagles out of the match after the team was allegedly stranded for hours without basic necessities at an airport in Tripoli. 

CGTN

Related story: Nigeria Football team boycotts Africa Cup qualifier after being stranded at Libya airport

 

Video - Nigeria among several nations seeking to join BRICS



Enthusiasm for the BRICS is growing as countries continue to seek better alternatives to solve their economic and development challenges. The alliance’s championing for developing countries' interests has sparked the interest of the Global South countries, among them Nigeria, in joining the group. Five new members, Saudi Arabia, Iran, Ethiopia, Egypt and the UAE, joined the BRICS mechanism earlier this year and many more want to follow them.

CGTN

Related story: Foreign Minister says Nigeria plans to join BRICS

 

Police lament high rate of jungle justice in Nigeria

The Nigeria Police Force have decried the spate of jungle justice in the country, warning against its consequences on criminal justice administration, rule of law and global reputation.

The Force Public Relations Officer, ACP Olumuyiwa Adejobi, who said this in a statement on Sunday in Abuja, condemned the trend of jungle justice in the country, describing it as a deplorable and savage behaviour.

Adejobi said the act had led to the tragic loss of lives and destruction of properties across the country.

According to him, the inhuman act was a betrayal of justice and due process, which undermined the rule of law, fundamental principles and ideals of human rights and justice.

He added that the Nigeria Police also condemned the act of arson in some parts of the country.

The Force PRO noted that the act led to the death by burning of some suspects in police custody and the setting ablaze of police barracks, patrol vans and the Divisional Police Station in Edo.

Adejobi said in the above case, the public alleged that the police were trying to pervert justice by taking into custody, some suspected kidnappers and armed robbers, accused of terrorising the community.

“The main suspect was arrested and almost lynched by some community members before he was rescued by the police and his arrest led to the arrest of three additional suspects.”

“The rescue and detention of the suspects did not go down well with some members of the community, who later mobilised in large numbers.

“They attacked the police station, killed the suspects by burning them and the station as well as properties therein,” he said.

By Matthew Atungwu, Daily Post

Leverkusen's Boniface only 'slightly injured' after car accident

Bayer Leverkusen and Nigeria striker Victor Boniface on Sunday shared video footage and photos of his smashed car after an accident.


The forward can be seen looking into the camera and then showing what appears to be his arm dripping with blood.

Other images show a black sports car which appears to have been destroyed in an accident. The post has since been deleted.

German tabloid Bild reported Sunday Boniface is "doing well considering the circumstances and is only slightly injured", citing a source close to the striker.

Boniface wrote on social media on Sunday "god is the greatest" and "god says my time hasn't come."

The forward's club Leverkusen are yet to comment publicly on the news.

The 23-year-old striker joined Leverkusen last season and played a key role as the club broke through for an unbeaten league and cup double -- their first ever Bundesliga win -- while receiving his debut Nigeria call-up.

This season he has seven goals in 10 games in all competitions. On Saturday, he missed a penalty but headed in the winner in a 2-1 home victory over Eintracht Frankfurt.

Leverkusen are away at French club Brest in the Champions League on Wednesday.

SuperSport

Friday, October 18, 2024

Video - Nigeria implements zero-tax policy on pharmaceutical products



President Bola Tinubu's executive order granting VAT and customs waivers on pharmaceuticals and medical devices is designed to reduce prices and boost local manufacturing of badly needed medicines. The initiative is part of the health ministry's effort to strengthen the healthcare value chain.

CGTN

Video - Nigeria's Tinubu calls for review of safety protocols after oil tanker explosion



Authorities in Nigeria have launched an investigation into an oil tanker explosion in northern Jigawa state, which claimed the lives of more than 140 people. President Bola Tinubu has pledged support for the victims' families and has called for a review of fuel transportation safety protocols.

CGTN

Related story: Death Toll rises to 153 from Nigeria fuel tanker explosion

 

Video - Malnutrition rates rise in Nigeria



Healthcare workers have reported a rise in severe malnutrition among young people in the Lake Chad region, where years of conflict have devastated agriculture and worsened food security. Humanitarian agencies estimate 6.1 million people will face food shortages in the coming months.

CGTN

Thursday, October 17, 2024

Nigeria to take delivery of malaria vaccines

Nigeria is set to receive its first shipment of the highly anticipated malaria vaccines on Thursday, marking a significant step in the country’s fight against one of its deadliest diseases.

The National Primary Health Care Development Agency (NPHCDA) announced that the vaccines would be received in Abuja by Prof. Muhammad Ali Pate, the Coordinating Minister of Health and Social Welfare.

The News Agency of Nigeria (NAN) confirmed the event through an invitation sent by the agency on Wednesday in Abuja.

NAN reports that the arrival of the vaccines is an initiative by the World Health Organisation (WHO) to distribute malaria vaccines to high-burden countries across Africa, including Nigeria.

The NPHCDA said that barring any unforeseen circumstances, the country would officially unveil the malaria vaccines on Thursday to help protect children from the life-threatening disease.

NAN reports that the introduction of the malaria vaccine is expected to significantly reduce malaria cases and deaths, especially in vulnerable populations.

The government has developed a strategic distribution plan to prioritise regions most affected by malaria, particularly in rural areas where access to healthcare is limited.

The rollout will begin in these high-burden regions before expanding nationwide.

The expected vaccines, known as RTS, S/AS01 (Mosquirix), have been proven to reduce malaria cases and mortality among young children in large clinical trials across Africa.

Nigeria will be the third African country to introduce the vaccine, following Ghana and Kenya, which began using the vaccine in 2023.

Meanwhile, malaria remains a serious public health issue in Nigeria, affecting 97 percent of the population.

Transmission occurs all year-round in the southern regions and lasts up to three months in the northern regions.

The primary malaria vectors are “Anopheles coluzzii” and “Anopheles gambiae”, with “Anopheles funestus” playing a secondary role in some areas.

Nigeria accounts for 27 per cent of global malaria cases and 31 per cent of global malaria deaths, making it the country with the highest malaria burden in the world.

The prevalence of malaria among children under five years dropped from 42 per cent in 2010 to 23 percent in 2018.

There are significant disparities between rural (31 per cent) and urban (13 per cent) populations, as well as socioeconomic groups.

The National Malaria Elimination Programme (NMEP) launched the High Burden, High Impact (HBHI) approach in response to the ongoing malaria crisis.

The goal is to reduce malaria prevalence to below 10 percent and malaria-related deaths to fewer than 50 per 1,000 people by 2025.

Efforts have included switching to injectable artesunate for severe malaria treatment and increasing coverage of preventive malaria treatments for pregnant women.

The percentage of pregnant women receiving at least three doses of intermittent preventive treatment with sulfadoxine-pyrimethamine increased from 16.6 per cent in 2018 to 31 per cent in 2021.

However, challenges such as low antenatal care attendance and limited access to treatment remain obstacles to further progress.

NAN reports that public health experts are optimistic about the vaccine’s potential to save lives.

They believe that this vaccine, when combined with other preventive measures, will significantly reduce the malaria burden in Nigeria and bring the country closer to achieving the goal of a malaria-free Africa.

Vanguard

Related story: Video - Nigerian health workers seek increased government support to control malaria

Death Toll rises to 153 from Nigeria fuel tanker explosion

The death toll from a fuel tanker explosion in northern Nigeria has risen to at least 153, with another 100 people injured, police told CNN Thursday.

The blast, which happened late evening local time on Tuesday in Majiya, a village in Jigawa state, came after the vehicle crashed and while locals were attempting to retrieve the fuel.

“The driver lost control and the tanker somersaulted and spilled fuel into a drainage ditch,” Jigawa police spokesperson Shiisu Lawan Adam said.

“As a result, residents rushed to scoop the fuel when the explosion happened.”

A mass burial was held on Wednesday afternoon for some of the victims, Adam said.

The death toll rose steadily since news of the deadly explosion broke.

“People are feeling very sad,” said Umar Majia, a member of the community whose 12-year-old nephew was killed in the blast.

“This type of incident has never happened in the community. It is the worst tragedy so far,” he told CNN.

Nigeria’s Vice President Kashim Shettima mourned the victims in a statement Wednesday, saying: “My heart aches for those who have had their families torn apart by this disaster.

“This devastating incident has shaken us all to our core. The Federal Government stands with the people of Jigawa. We are mobilising all necessary resources to support the injured and assist the families affected by this calamity.”

Shettima also announced “immediate federal government intervention and called for a comprehensive review of fuel transportation safety protocols.”

The blast comes a month after at least 48 people were killed in a similar accident in the north-central Niger state.

Fuel tanker explosions are not unusual in Africa’s most populous country, where oil supplies are frequently dispatched by road.

Previous fires have led to multiple casualties. In 2020, more than 500 people lost their lives in more than 1,500 fuel tanker accidents recorded that year, according to Nigeria’s road safety agency.

Residents, beleaguered by soaring living costs in the West African nation - where gasoline is scarce and expensive - often brave danger to scoop fuel from fallen tankers or damaged oil pipelines.

Gas prices have risen dramatically to more than six times their usual rate since the government ended fuel subsidies last year.

Poverty remains rife in Nigeria despite its status as one of Africa’s largest oil producers.

By Nimi Princewill, CNN

Related story: Nigeria fuel tanker explosion kills over 90, injures dozens

Wednesday, October 16, 2024

Nigeria fuel tanker explosion kills over 90, injures dozens

More than 90 people have been killed and 50 wounded after a fuel tanker exploded in northwestern Nigeria, according to police.

The overnight explosion took place on an expressway in Jigawa state as dozens of people rushed to the vehicle to collect the fuel, a police spokesman said on Wednesday.

“The residents were scooping up fuel from the overturned tanker when the explosion occurred, sparking a massive inferno that killed 94 people on the spot,” Lawan Adamu told The Associated Press news agency.

The fire burned into the early hours of Wednesday.

Last month, at least 48 people were killed in an explosion after a fuel tanker collided with another truck in Nigeria’s north-central Niger state.

Deadly truck accidents are common along most of the major roads in Nigeria, with experts attributing many of them to reckless driving, poor road conditions and poorly maintained vehicles.

In 2020 alone, there were 1,531 petrol tanker crashes resulting in 535 fatalities and 1,142 injuries, according to Nigeria’s Federal Road Safety Corps.

The Nigerian National Petroleum Company in early September increased the price of petrol by at least 39 percent, the second major hike in more than a year.

Al Jazeera

Related story: More than 50 killed in Nigeria fuel tanker crash





Tuesday, October 15, 2024

Video - Experts warn of rise in unemployment in Nigeria due to high fuel prices



Nigeria’s informal sector, which accounts for around 80 percent of total jobs has been hit by a wave of resignations, as some workers are unable to afford the daily commute after a hike in fuel prices. Economists said a rise in unemployment could affect the country’s economy and security.

CGTN

Video - Nigeria hopes for better finish at U-17 Women's World Cup



The Flamingoes, who finished third in the last edition of the tournament in India in 2022, completed preparations for the upcoming competition in the Dominican Republic. The team is placed in Group alongside the hosts, Ecuador and New Zealand.

CGTN

Binance exec and former U.S. agent Tigran Gambaryan denied bail by Nigeria

 It has been almost eight months since Binance executive and former IRS agent, Tigran Gambaryan, has been wrongfully detained in Nigeria over a feud between the African nation and the world’s largest crypto exchange. In the latest blow to his fight for freedom, he was denied bail by a Nigerian judge on Friday despite his deteriorating health.

Gambaryan was jailed in February after visiting Nigeria to address allegations that Binance was undermining the local currency, which began to crash in May 2023. Economists have laid the blame for this on corruption and economic mismanagement by the country’s leaders—but, in what critics say is an effort to find a scapegoat, Nigerian officials arrested Gambaryan and another Binance executive and charged them with financial crimes.

Since his detention, Gambaryan’s condition has worsened significantly. He is now being held at Nigeria's notorious Kuje prison alongside members of the Boko Haram terrorist group and has been denied access to his legal team. Throughout his time in prison he has suffered from malaria, tonsillitis, pneumonia, and complications from a herniated disc in his back which requires “high-risk specialized surgery.”

While he sits in a cell thousands of miles away from his wife and children in Georgia, U.S. representatives and Binance executives have intensified calls for his release. His wife, Yuki Gambaryan, has continued to fight for his freedom since he was detained.

Following the hearing on Friday, a Binance spokesperson said in a statement, ”He has been unlawfully detained for over 220 days. Tigran did not go to Nigeria as a decision-maker and there is no good reason to continue to hold him. We are committed to working with the Nigerian government to resolve issues, but Tigran must be allowed to go home.”

While initially reluctant to get involved, U.S. officials began to advocate for Gambaryan’s release over the summer. Most recently, Rep. Rich McCormick (R-Ga.), a member of the Armed Services and Foreign Affairs Committees, called upon the U.S. State Department to take a stronger stance in talks with Nigeria. “All cards should be on the table. We should be putting enormous leverage against Nigeria until they release him or at least turn him over to the consulate to be treated fairly, he get an expedient case with a legitimate charge,” McCormick said on the Illicit Edge podcast.

In June, 16 bipartisan U.S. lawmakers sent a letter to President Joe Biden urging for Gambaryan to be released, while over 100 U.S. prosecutors and special agents sent a similar letter to the U.S. State Department. In the following weeks, Rep. French Hill (R-Ark.) and Rep. Chrissy Houlahan (D-Pa.) visited Gambaryan in the Nigerian prison. Also in June, Nigeria dropped some charges against Gambaryan after FBI director Christoper Wray visited the country on an unrelated matter.

Gambaryan’s ongoing detention came after the State Department negotiated the release of basketball player Brittany Griner and journalist Evan Gershkovich from Russia earlier this year. Both Americans had received a “wrongfully detained” designation, which made their release a top priority with a special agency within the State Department. Gambaryan has yet to receive that designation to the frustration of his family and others, likely because Nigeria is a nominal ally of the U.S.

By Catherine McGrath, Fortune

Related stories: US Urges Nigeria to release Binance executive as health worsens

Video - Detained Binance executive appears in court in Nigeria for tax, money laundry charges

Nigeria's state transmission company restoring power after grid collapse

The Transmission Company of Nigeria says it is working to restore power after blackouts engulfed the country following another collapse of the power grid on Monday night.

Power generation fell to zero and by Tuesday morning some plants in the capital Abuja and parts of the commercial city were coming online. Daily average supply has hovered around 4,500 megawatts in recent times until the sixth collapse this year.

Nigeria's grid has shut down due to aging power infrastructure, vandalism and inadequate gas supply for its thermal plants which accounts for over 75% of output. 

Reuters

Related story: Millions in Nigeria have little to no electricity. It’s straining businesses and public services

 

Monday, October 14, 2024

Nigeria Football team boycotts Africa Cup qualifier after being stranded at Libya airport

Nigeria’s soccer players returned to their country dancing and singing on Monday after boycotting their Africa Cup of Nations qualifier in Libya where they were stranded overnight at Al Abraq Airport in what the team captain described as “mind games.”


Though authorities in Libya denied it was sabotage, the Confederation of African Football which organizes the competition said it will investigate the “disturbing and unacceptable experiences” of Nigeria.

The Super Eagles were scheduled to play the Group D game on Tuesday. Nigeria won 1-0 when the teams played on Friday, when similar accusations of sabotage from the Libya team came after they were delayed at a Nigerian airport.

Nigeria captain William Troost-Ekong said the plane was due to land at Benghazi Airport but was diverted at the last minute to Al Abraq some 220 kilometers (130 miles) away.

“The Libyan government rescinded our approved landing in Benghazi with no reason,” Troost-Ekong said on X. “They’ve locked the airport gates and left us without phone connection, food or drink. All to play mind games. As the captain, together with the team, we have decided that we will not play this game.”

The Libyan Football Federation said it regretted the flight diversion, adding: “It is essential to note that such incidents can occur due to routine air traffic control protocols, security checks or logistical challenges that affect international air travel,” it said on X.

CAF said it referred the incident to its disciplinary board which will take “appropriate action against those who violated” its rules.

Pictures posted online by the players showed some of them lying on airport seats, their luggage beside them and with no other passengers in sight. By Monday morning, some of them were asleep.

Nigerian Football Federation spokesman Ademola Olajire said the team spent 19 hours at the Libyan airport and they were prevented from leaving the facility to board the buses that Nigerian officials eventually hired.

“At past midnight, it was learnt that there had been word from ‘higher authorities’ that the Nigeria delegation should be delayed for a minimum of 10 hours at the airport for what they falsely claimed was done to their team in Nigeria,” Olajire said without elaborating.

The Nigerian players and officials eventually resorted to games and music to play down their anger and frustration, he said.

Among the players in Nigeria’s squad were Ademola Lookman, who scored a hat trick for Atalanta in the Europa League final last season and is on the Ballon d’Or shortlist, and Victor Boniface, a striker for German champion Bayer Leverkusen.

English Premier League players Ola Aina, Calvin Bassey, Alex Iwobi, Taiwo Awoniyi and Wilfred Ndidi were also in the team that beat Libya 1-0 on Friday.

The Libya team accused Nigeria of maltreatment ahead of the first leg, an allegation the Nigerian federation denied.

Libya captain Faisal Al-Badri said they were delayed “from one city to another” for three hours after their bags were searched, and before they were transported on a road trip to the city where the match was played. He had called for “reciprocity.”

Nigeria sports minister John Owan Enoh said he instructed the soccer federation to send a formal complaint to CAF. “This must be on record and thoroughly addressed,” he said in a statement.

By Chinedu Asasdu, AP

Video - Nigerian flamingoes set for the FIFA Under 17 Women's World Cup



The Nigerian Flamingoes have wrapped up their preparations for the eighth FIFA Under-17 Women's World Cup set for the Dominican Republic from next week. They head into the competition as one of the strong contenders from Africa after finishing the third in the previous edition.

CGTN

Video - Nigerian health workers seek increased government support to control malaria



According to Nigeria's Ministry of Health, about 55 million people in the country contract malaria annually. Out of those, 90,000 die. Health experts are now urging the government to scale up efforts to address the issue.

CGTN

Former Nigeria national team goalkeeper passes away

 Former Nigeria national team goalkeeper Peter “Apo” Fregene has sadly passed away after a prolonged battle with health issues.

He was 77 years old.

Fregene, a 1968 Olympian, died peacefully in the presence of his wife, Tina, and two children.

Segun Odegbami, a renowned sports journalist and former Nigerian international, confirmed the development.

Odegbami, a former national team captain, expressed gratitude to the numerous individuals who supported Fregene’s treatment until his eventual death.

“On behalf of all generations of Nigerian footballers, Olympians, sports persons, his family, friends, fans and a few incredible Nigerians that quietly rallied round and, with their support, prayers and the will of the Creator of the Universe, kept him alive until this night, I say a big ‘thank you’,” Odegbami wrote on his Facebook Page.

Fregene’s health struggles had sparked widespread concern, prompting an outpouring of support from the sports community.

Frantic effort to save Fregene

PREMIUM TIMES reported how three generous Nigerians volunteered to support his treatment at Obule Medical Centre in Sapele, Delta State.

This was on the heels of Odegbami’s initial appeal for assistance, sharing a distressing photo highlighting Fregene’s dire situation.

He noted that repeated appeals to well-known philanthropists had yielded support in the past but expressed concern that these individuals may be exhausted from continually supporting Nigerian sports heroes in need.

The sports community’s response brought comfort to Fregene’s family, with Odegbami thanking Nigerians for their response to the “humble cry of their hero currently in distress.”

However, he also lamented the government’s neglect of sports, leaving veterans like Fregene vulnerable.

Odegbami posed a poignant question: “Why can’t we set up a simple welfare scheme for active and retired athletes to take care of our declining health in old age?”

This highlights the need for systemic support for Nigeria’s sports heroes.

As the football community mourns Fregene’s passing, his legacy as a dedicated athlete and Nigerian icon will be remembered.

Mr Odegbami’s final words to Fregene reads:

“Good night ‘Apo’.

“Rest, my friend, rest in peace, finally!” 

By Tunde Eludini, Premium Times

Friday, October 11, 2024

Video - Nigeria company empowers deaf community with digital skills



Nigerian tech firm Data-Lead Africa is teaching coding and bridging the skill and employment gap for people living with disabilities. Aside from equipping participants with tech skills like coding, the company is also fostering an atmosphere of inclusivity and diversity. Students see the program as a stepping stone to a brighter future by getting better jobs.

CGTN

Related story: Deaf students in Nigeria boost their coding skills – and their self-esteem

 

Video - Nigeria’s central bank unveils new guidelines to combat cybercrime



The Central Bank of Nigeria introduced the 0.005% cybercrime levy targeting banks and telecommunications companies. The government said money raised from the levy will help strengthen defenses against digital threats. In 2023, Nigerian banks lost more than 5.9 million U.S. dollars to cyber fraud.

CGTN

NNPC raises fuel prices as it ditches costly subsidies

Nigeria's state-owned oil company, NNPC Ltd, has increased petrol prices by over 15%, marking the second hike in less than a month and the exit from a costly subsidy programme that has strained its finances.

At NNPC fuel stations in Lagos the price of gasoline rose to 998 naira per litre ($0.6257) from 858 naira, while in Abuja the price increased to 1,030 naira per litre from 950 naira. Long queues formed as customers came to terms with higher prices.

NNPC, the country's sole importer of refined products, can now recover its costs in full, having bought gasoline from the Dangote Oil Refinery at 898 naira per litre.

This is the first time in three decades that Nigeria is selling gasoline at full market prices, relieving the treasury of the heavy cost of subsidies, projected to cost the government at least $3.7 billion this year.

President Bola Tinubu scrapped a costly but popular subsidy on petrol last year when he took office, to cut government expenditure. But he reintroduced subsidy partly after inflation skyrocketed, worsening a cost of living crisis and stoking tension among the population.

By September, NNPC said it faced severe financial strain, admitting it was unable to continue importing fuel after weeks of scarce supplies at its petrol stations.

The price increase has sparked criticism from labour unions to manufacturers, who warn that it will worsen the cost-of-living crisis.

Gasoline prices are a particularly sensitive issue in Nigeria, where millions of households and small businesses rely on generators powered by fuel due to the country’s creaking national electricity grid.

Last week, Nigeria began selling crude oil to the Dangote Refinery in naira, with the understanding that the refinery would fully meet the country’s fuel needs. This month, NNPC is supplying the refinery with 13 cargoes of crude oil.

Edwin Devakumar, head of the Dangote Refinery, said the facility now has the capacity to meet all of Nigeria's needs.

Industry insiders say that with gasoline now being sold at market rates, NNPC will no longer be the sole buyer of products from the Dangote Refinery.

"We have applied to buy directly from the Dangote Refinery, but this hasn’t been finalised yet. For now, we are still buying through NNPC," said Billy Gillis-Harry, head of a local fuel traders association.

By Isaac Anyaogu, Reuters

Thursday, October 10, 2024

Video - Nigeria launches skills training programme to help reduce youth unemployment



More than 60 million U.S. dollars in loans and grants were allocated to boost the National Youth Skills Programme. The actual roll-out of the programme has not been announced but the government hopes the programme will increase youth led-enterprises by at least 50 percent within 5 years.

CGTN

Video - Lagos Rail Mass Transit set to open second metro line



The Red line is the second Chinese-built metro rail in the city, connecting the communities of Agbado and Oyingbo. Officials hope the Chinese-built network can address the challenges of traffic congestion and commuting delays that have long plagued the nation.

CGTN

Video - Nigeria to allow purchase of crude oil in local currency



Analysts say the oil-for-naira program seeks to change the problems facing Nigeria’s petroleum industry by facilitating domestic oil transactions in naira. The move could inject liquidity into the naira, reduce dependency on foreign exchange, and stimulate investment in the oil sector.

CGTN

Wednesday, October 9, 2024

Video - Nigerian start-up helps street food vendors find customers



Fashola Oba and his wife, Shiba, launched the Local Eats App to help small local restaurants up scale their operations using technology. The app allows people to order traditional Nigerian meals from local restaurants. The app has helped keep the popular joints in competition with modern restaurants. 

CGTN

Related story: Chowdeck is hungry for Nigeria’s food delivery market. One day, it wants to be a ‘super-app for Africa’

 

 

We Built Our $20bn Refinery Without Single Incentive from FG - Dangote

Africa’s richest man and President of Dangote Industries Limited, Alhaji Aliko Dangote, has declared that he built his 650,000 barrels per day refinery valued at $20 billion without receiving a single incentive from the Nigerian government.


Dangote stated this in Lagos Tuesday in a speech delivered on his behalf by the company’s Group Executive Director, Mr. Mansur Ahmed, at the inaugural edition of the Crude Oil Refiners Association (CORAN) Summit, with the theme: ‘Making Nigeria A Net Exporter of Petroleum Products.’

The $20 billion Dangote refinery sited at the Lekki Free Trade Zone, Lagos is reputed to be the seventh largest refinery in the world, as well as the world’s largest single train refinery.

The refinery, envisioned to transform Nigeria from a petroleum products import-dependent country to a net exporter of refined products, has since January 2024 been producing white products including diesel, aviation fuel, Naphtha and recently, Premium Motor Spirit (PMS) popularly known as petrol in Nigeria.

But addressing industry stakeholders at the CORAN Summit, Dangote restated that the refinery produces sufficient diesel and jet fuel to meet Nigeria’s demand.

He said the company recently started the production of petrol, adding that the refinery will soon ramp up its production to meet Nigeria’s demand.

He maintained that the refinery’s products are being exported to diverse markets including Europe, Brazil, the United Kingdom, United States, Singapore and South Korea among others.

He said to achieve the vision of the conveners of the summit, which is to make Nigeria a net petroleum products exporter and an energy sufficient country, the country will need to build up to 1.5 million bpd refining capacity, with support from the government and collaboration by industry stakeholders.

Dangote said: “To grab this opportunity, we will need to build 1.5m barrels per day of refining capacity. This will not be an easy feat and strong government support will be required to achieve this.

“We built the Dangote Refinery without a single incentive from the government. However, to achieve the vision of turning Nigeria into a refining hub, investors need to be incentivized.”

To ensure sufficient feedstock availability for local refineries, he said Nigeria will need to stop mortgaging its crude oil.

According to him, “It is unfortunate that while countries like Norway are putting oil proceeds into a future fund, in Africa we are spending oil proceeds from the future. We will also need to prioritise the implementation of the domestic crude supply obligations.

“We will need to expand our crude oil production capacity to support demand from new refining capacity.”

The government of President Bola Tinubu is taking active steps to achieve this through fast-tracking IOC divestments and other initiatives.

Dangote expressed optimism that Nigeria and Africa can become completely self-sufficient and can keep all the value on their shores.

Having achieved self-sufficiency in cement, he said the country can certainly replicate that in petroleum products.

To realize the vision of improving Nigeria’s refining capacity and increase values from the nation’s oil resources, Dangote called for full implementation of the Domestic Crude Supply Obligation (DCSO) as enshrined in the Petroleum Industry Act (PIA) 2021.

“We will also need to prioritize implementation of the Domestic Crude Supply Obligation rightly. We will need to expand crude production capacity to support demand from the new refining capacity.

“The government of President Bola Ahmed Tinubu is taking steps to achieve this through fast-tacking the IOC divestment and other initiatives,” he added

Dangote warmed that global developments in the petroleum sector particularly in Europe will disrupt historical trade flows for refined petroleum products in Africa.

However, he said Nigeria is uniquely positioned to take advantage of this opportunity and be a formidable player in the global oil industry.

He added: “As a vibrant exporter of refined products, Nigeria will witness an improvement in its balance of trade and generate the much needed foreign currency. Nigeria’s potential as a refining hub is clearly not in doubt, let’s work together to make it happen.”

By Peter Uzoho, This Day

Nigeria town celebrates after hunting down ‘killer hippo’

Residents of a town in north-western Nigeria are celebrating after a rare but feared hippo - along with its calf - was killed by rice farmers and fishermen in a hunt lasting several weeks.


People in Yauri, in Kebbi state, have been terrified of the hippo after she killed a fisherman who worked for the local traditional leader.

It prompted the Kebbi state government to order that the animal be killed for the safety of the community living along the River Niger.

Nigeria’s hippo population has declined rapidly over the last few decades - estimates suggest there are now around 100 animals, which mainly live in conservation areas.

The hippo in Yauri was tracked down by young men, who used locally made spears known as a “zagos” to kill it.

Its carcass has since been ferried in a canoe to the palace of one of the Emir of Yauri's high-ranking administrators, where it has been butchered and its meat given to those in local community.

“We are a town of fishermen and farmers and this hippo has made many to stop going out due to fear of an attack,” resident Sani Yauri told the BBC.

“Apart from killing a member of the emir’s staff, it also seriously injured another person - not also forgetting the damage it regularly does to our farmlands.”

There are many paddy fields along the banks of the river near the town, where the hippo had sometimes been spotted.

“We are happy it has been killed and people came out in jubilation - and also got their share of the meat,” Mr Yauri said.

Another resident, Isa Jamilu, said he was relieved that could now go to his farm, which he had abandoned weeks ago.

Photos of the dead animal have been widely shared on social media - with mixed reactions: some hailed members of the local community for standing up for themselves while others expressed concern about the welfare of the animal.

The common hippopotamus is on the red list of threatened species put together by the International Union for Conservation of Nature (IUCN).

“This is an endangered species and I was sad when I saw the video clip of people celebrating after it was killed,” Isyaku Abdullahi, animal rights activist and founder of Nigeria's African Voice for Animals Initiative, told the BBC.

“What the people of Yauri ought to have done was to report to relevant authorities who would capture and relocate it.”

He said communities living in rural areas, especially places like Kebbi state where there are several rivers and lakes, needed to be made aware of other options when dealing with the dangerous mammals.

Kebbi is renowned for hosting the annual Argungu Fishing Festival, which is on the United Nations' cultural heritage list.

Hippos are the third-largest land mammal and their teeth can reach up to 50.8cm (20in) in length. Despite their size, they can also reach speeds of up to 20mph (32km/h).

While the animals are herbivores, they can become highly aggressive when they feel threatened or their habitats are disturbed - and kill around 500 people every year in Africa.

By Mansur Abubakar, BBC

Dangote Says Nigeria can become refining hub

 Nigeria must enhance its crude oil production capacity and effectively manage its crude supply to ensure adequate feedstock for domestic refineries in order to transit from a net importer to a net exporter of petroleum products, Chairman of the Dangote Refinery and Petrochemical Company Limited, Aliko Dangote, has said.

Dangote made this assertion during his keynote address at a summit held in Lagos by the Crude Oil Refinery Owners Association of Nigeria, CORAN.

The event attracted top government officials and key stakeholders from the midstream and downstream sectors.
Addressing Nigeria’s potential as a refining hub, Dangote expressed concern that, despite producing over 3.4 million barrels of crude oil per day, Africa imports around 3 million barrels of petroleum products daily.
He noted that these imports, primarily from Europe, Russia, and other regions, were estimated to cost approximately $17 billion in 2023.

He said Nigeria could capitalise on this situation to become a net exporter of refined petroleum products, as the markets would be more competitively served by the country.

“Both the crude oil and the petroleum products will travel shorter distances. The logistics costs of floating storage will be eliminated, and countries can purchase their petroleum product requirements just in time.

”Nigeria and Africa can become completely self-sufficient, and we can keep all the value on our shores. We have done it in cement, and we can certainly do it for petroleum products.

“It is worth noting that the Dangote Refinery already produces sufficient diesel and jet fuel to meet Nigeria’s demand. We recently started the production of PMS and will soon ramp up to meet Nigeria’s needs.
”Our refined products have been exported to diverse markets, including Europe, Brazil, the UK, the USA, Singapore, and South Korea,” he added.

Represented by Engr. Mansur Ahmed, Group Executive Director of Dangote Industries Ltd, Dangote emphasised that Nigeria must develop a refining capacity of 1.5 million barrels per day and prioritise domestic crude supply obligations to seize this opportunity.

Acknowledging present and future challenges, he urged the government to incentivise investors, contrasting this with the Dangote Oil Refinery, which was built without any government incentives.

He said: “It is unfortunate that while countries like Norway are putting oil proceeds into a future fund, in Africa, we are spending oil proceeds from the future. We will also need to prioritise the implementation of domestic crude supply obligations.

”We will need to expand our crude oil production capacity to support demand from new refining capacity. The government of President Bola Ahmed Tinubu is taking active steps to achieve this through fast-tracking IOC divestments and other initiatives.”

Emphasising that global developments in the petroleum sector, particularly in Europe, would disrupt historical trade flows for refined petroleum products in Africa, Dangote stated that Nigeria was uniquely positioned to capitalise on this opportunity to become a significant player in the global oil industry.

While calling for consultation, collaboration, and cooperation among stakeholders, he said: “As a vibrant exporter of refined products, Nigeria will witness an improvement in its balance of trade and generate much-needed foreign currency. Nigeria’s potential as a refining hub is not in doubt; let us work together to make it happen.”

The foremost industrialist noted that the summit’s theme, “Making Nigeria a Net Exporter of Petroleum Products,” would have seemed unrealistic a few years ago, adding that despite being Africa’s largest crude oil producer, Nigeria has historically relied on imports to meet its refined petroleum product needs.

However, he emphasised that the Dangote Petroleum Refinery and Petrochemicals was poised to transform Nigeria from a “net importer” to a “net exporter” of refined petroleum products, establishing the country as an emerging player in global downstream trade flows; with refined products already exported to various markets, including Europe, Brazil, the UK, the USA, Singapore, and South Korea.

Commending Dangote for this transformation, Chairman of IPPG/Waltersmith Refinery & Petrochemicals Co. Ltd, Abdulrazaq Isa, called on the government to support domestic refiners by ensuring the availability of crude, adhering to domestic crude supply obligations, and implementing effective pricing and monitoring measures to prevent smuggling.

Chairman of CORAN’s Board of Trustees and CEO of Integrated Oil & Gas, Captain Emmanuel Iheanacho, retd, said Dangote Oil Refinery had set a high standard by producing Euro-V products, thus protecting citizens from exposure to high-sulphur products.

He noted that transforming Nigeria into a net exporter will bring numerous benefits but reiterated the need for increased investment to boost crude production, lamenting that Nigeria loses approximately $83 billion annually by not meeting its OPEC quota.

While acknowledging that tank farms remain essential despite local refining, Iheanacho urged the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), to consider cancelling import licences, as Nigeria can now meet its local demand.

Chairman of the Major Energies Marketers Association of Nigeria, MEMAN, Huub Stokman, said Nigeria was on the verge of becoming Africa’s refining powerhouse, which would significantly boost the economy.

The Chairman of CORAN, Momoh Oyarekhua, also expressed concern over challenges related to crude supply, stating that domestic refiners would work with regulators and stakeholders to address these issues.

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lopkobiri, assured that the government would continue to refine frameworks to enhance crude production and support domestic refineries.

His counterpart from the Ministry of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, emphasised the Tinubu-led administration’s commitment to ensuring value addition for mineral resources before export.

By Udeme Akpan, Vanguard