The Dangote Petroleum Refinery is going to need about N1.7tn worth of crude oil monthly following the directive of President Bola Tinubu mandating the Nigerian National Petroleum Company Limited to sell crude to the plant and other domestic refineries in naira.

On Monday, Tinubu directed NNPC to sell crude to the Dangote refinery and other upcoming refineries in naira.

The Special Adviser to the President on Information and Publicity, Bayo Onanuga, had made this known in a post via his official X handle.

Onanuga said the Federal Executive Council adopted the move on Monday to ensure the stability of the pump price of refined fuel and the dollar-naira exchange rate.

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An analysis of figures from various industry reports showed that the $20bn Dangote refinery located in Lekki, Lagos, would gulp about N1.7tn of crude oil monthly should NNPC meet the mandate of the President.

The average cost of crude in 2024 is about $83/barrel, based on data from Statistica, a global statistical firm.

The President, Dangote Industries, Alhaji Aliko Dangote, recently stated that his refinery would hit 500,000 barrels per day capacity in August, and 550,000bpd in December 2024.

This means that between August and November this year the refinery targets to refine 500,000bpd of crude oil, before proceeding to hit the 550,000bpd mark in December.

Going by 500,000bpd refining capacity and the $83/barrel average price of Brent, the global benchmark for crude, it implies that the plant would require about $41.5m worth of crude oil daily, which represents N56.55bn, using the average exchange rate of N1,362.6/$ in 2024.

This, therefore, implies that the refinery would gulp about N1.7tn worth of crude oil monthly based on the recent directive of the President mandating NNPC to supply crude to Dangote and other domestic refineries in naira.

Operators speak

The National Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria, Chief Ukadike Chinedu, said though Nigeria has been battling to ramp up crude oil production, NNPC should endeavour to meet the President’s order.

“It is an order by the President that crude be sold to domestic refineries in naira, and that includes the Dangote refinery. We know that the refinery is massive and requires over 500,000 barrels of crude oil daily, so NNPC and its partners should work harder to meet this demand.

“We just have to try. The government has been talking about ramping up crude oil production. This is the time to deliver on that. The President has given an order and it is up to NNPC and the ministry to meet that order,” he stated.

On his part, the Publicity Secretary of the Crude Oil Refiners Association of Nigeria, Eche Idoko, said the supply of crude to local refineries in naira would bring down the cost of petrol and strengthen the naira against the dollar.

“The sheer fact that the crude will be sold in naira will give the naira a lot of leverage against the dollar, and by implication, the naira will appreciate against the dollar. Automatically when there are fewer naira chasing the dollar, it will affect the price.

“It means the cost of refining will drop and this will affect the pump price. We will see a rebound in the pricing of fuel once the President’s order is implemented,” he stated.

During a tour of the refinery with journalists recently, Dangote said the refinery was fully online, with over $26bn being expected annually.

“Successful completion of trial run in January 2024. Refined and intermediate products include polypropylene, naphtha, RCO, gasoline, diesel, and jet fuel. Steady state production phase commenced in March 2024.

“Ramping up production to reach 500kbpd (15 crude cargoes a month) by next August, 550kbpd by the end of the year, and 650kbpd by the first quarter of 2025. Gasoline production is to commence in July with sales from August. Annual revenue is projected to exceed $26bn,” Dangote stated.

He added that the refinery has dedicated loading gantries with 86 loading bays; dedicated marine facilities for offtake of crude and loading of petroleum products; 900-kilo tonnes per annum polypropylene plant, 36ktpa sulphur, and 585ktpa carbon black production.

The total storage capacity of the refinery is put at 4.5 billion litres, which can cover 20 days of crude requirement product storage for 15 days of Nigeria’s petrol consumption.

He averred that the refinery would produce 53 million litres of petrol per day and 1.1 million tonnes per day.

“The Dangote refinery can meet Nigeria’s requirements and have a surplus for exports,” he stated.

On Tuesday, NNPC announced its goal to increase crude oil production to two million barrels per day by the end of the year, as it strives to meet domestic crude oil demand as well as export.

The country’s daily production rose from 1.27 million barrels in June to 1.6 million in July, according to the Nigerian Upstream Petroleum Regulatory Commission.

Speaking during a meeting with Maritime Stakeholders at the Nigerian Navy Headquarters, the Group Managing Director of NNPC, Mele Kyari, expressed optimism that the target would be met, emphasising that NNPC was fully committed to achieving it.

Former presidential candidate of the Labour Party, Peter Obi, has cried out that he is being deliberately blackmailed by some persons.

Peter Obi said the videos in circulation alleging that he called for war against Northerners and that he led hunger protesters in Abuja were aimed at attacking his reputation.

Obi said the video posted by controversial social media influencer, Reno Omokri, on his speech at the inauguration of Professor A.U Nnonyelu was edited and did not reflect what he said.

He said contrary to the video circulated online by Reno, he called for war against economic hardship, insecurity and corruption. He explained that he did not declare war on Northerners.

“I have noticed some deliberate and well-orchestrated efforts by some persons to blackmail me into conforming to some of their nefarious agendas. Their dubious moves have led to the false circulation of a video from my recent keynote speech at the installation of Rotarian Professor A. U. Nnonyelu in Anambra State. They have twisted the video to suit their motive to suggest that I declared war on Northerners when, in fact, I spoke about declaring war on economic stagnation, insecurity, and corruption,” he explained.

The Labour Party chieftain also clarified that the video of leading protesters in Abuja, on day one of the hunger protest was edited. He stated that the circulated video was taken during his visit to LP’s headquarters in Abuja. He added that he was at the headquarters to mediate clashes between LP and the Nigeria Labour Congress (NLC).

Obi lamented that the videos were edited to create false narratives. He said those who posted and spread on social media were paid for it. He advised that misinformation will not help Nigeria’s democracy.

“Another video circulating online, supposedly showing me leading a protest in Abuja, is also false. The video was actually taken during my visit to the Labour Party HQ, where I mediated a clash between the Labour Party and the NLC.

“The video was conveniently edited to create a false narrative, and those responsible have been paid to spread this misinformation. This kind of misinformation has no place in our democracy, where truth and honesty should prevail.

“This misrepresentation is part of a larger narrative of blackmail, aimed at fitting me into their malicious agenda. I remain committed to a new Nigeria where justice, equity, and caring for the citizens will prevail over the greed of a few,” Obi added.

The 2023 Peoples Democratic Party (PDP) candidate for the House of Representative election for Dekina/Bassa in Kogi State, Usman Okai Austin, has submitted that the silence of President Bola Tinubu is part of what is fuelling the #EndBadGovernance protest.

According to him, those advising the President not to address Nigerians are not doing him any favour.

Austin made the submission in a post via his account on the X platform, while reacting to the protest against hardship and harsh government policies in Nigeria.

The former candidate said the protests were a signal of the people’s desire for change, and a direct address from the President would go a long way in reassuring the people.

He added that every minute of silence from President Tinubu is fueling the unrest.

The post tagged: “When Not To Keep Quiet,” reads: “Many Nigerians were expecting a presidential address yesterday to ease the growing tensions and unrest across the country.

“However, the absence of a powerful broadcast from the President has left citizens feeling disappointed and concerned.

“Whoever is advising President Bola Tinubu against addressing Nigerians is not doing him a Favour.

“This #EndBadGovernanceInNigeria protest will linger on. In times of crisis, a leader’s words can go a long way in calming nerves and inspiring hope. Unfortunately, the President’s silence has only added to the anxiety and frustration felt by many.

“The ongoing protests and demonstrations are a clear indication of the people’s desire for change and better governance.

“A presidential address could have been a crucial opportunity to acknowledge the grievances, offer reassurance, and outline concrete steps towards addressing the issues.

“The clock is ticking, and the nation waits with bated breath for a word from its leader. Will the President seize the moment and address the nation, or will the silence continue, fueling more uncertainty and unrest? Only time will tell.”

Recall that some Nigerians took to the streets on Thursday in protest against the economic hardship in the country, which is said to have been caused by the decision of President Tinubu to remove fuel subsidy and float the naira, thereby resulting in rising cost of items.

The Kano police command has announced the arrest of 269 individuals suspected of looting during the #EndBadGovernance protest in the state.

Naija News reports that Nigerians stormed major streets on Thursday to protest the economic hardship and food scarcity.

However, the supposed peaceful protest turned violent in some places, with security operatives teargassing protesters.

According to a Facebook update by the Kano police command, the suspects were involved in an attack on a supermarket in the Nassarawa Quarters.

“At approximately 10:00 am today, groups of hoodlums, under the guise of participating in the nationwide protest, launched attacks on several establishments in Kano state,” stated the police.

The police noted that these events disturbed public peace and safety, prompting swift action by the Kano State police command.

“In a swift and efficient response to these criminal activities, a total of 269 suspects responsible for destruction, looting, and instigating chaos under the guise of the nationwide hunger protest were arrested.

“These incidents have disrupted public order and safety, necessitating immediate action by the Kano state police command.

“Arson at NCC office: Multiple motor vehicles at the NCC office, Audu Bako secretariat, along Government House Kano, were set ablaze.

“The fire has since been brought under control through swift intervention.”

The police command reported the recovery of an AK-47 rifle near the Kano high court and seized a large amount of stolen goods from the suspects.

In response to the unrest, Kano Governor Abba Yusuf has imposed a 24-hour curfew to ensure the safety of the state’s residents.

Chairman of the Association of Licensed Telecom Operators of Nigeria, Gbenga Adebayo, has revealed that more than 30 million phone lines are at risk of disconnection due to improper linkage with a National Identification Number (NIN).

These lines are primarily associated with devices like car trackers, MiFi units, WiFi devices, and Point of Sale (POS) machines.

“The numbers are staggering. We are looking at potentially over 30 million SIM cards, including those in various digital devices, that have not been properly linked to the NIN. Many of these SIMs are in car trackers, POS machines, MiFis, WiFis, and many other devices that use SIMs to operate,” Adebayo stated during an interview with News Central, as reported on Thursday.

This situation follows recent disruptions caused by the blocking of lines not connected to their NINs.

Naija News recalls that last weekend, telecommunications companies began disconnecting lines not linked with NINs, just ahead of the Nigerian Communications Commission’s July 31, 2024 deadline.

Ever since February 2024, telecom operators have been gradually disconnecting lines, adhering to an NCC directive. At the end of 2023, the regulator instructed telcos to disconnect unlinked lines in phases, concluding on July 31, 2024.

Adebayo explained that these disconnections resulted from discrepancies between telecom operators’ records and the National Identity Management Commission’s data.

“There are cases where individuals provided their NINs, but the information did not align with our records,” he said. “These discrepancies need to be resolved at service centers for proper verification.”

Adebayo clarified that the timing of the disconnections coincided with national protests but was unrelated, as the disconnection process had started earlier.

“Unfortunately, the disconnection coincided with the planned protests, but it had nothing to do with stifling communication.

“We are guided by our social contract with subscribers and provide services on a non-discriminatory basis,” he said.

He also emphasized the importance of accurate data for building a reliable national database, urging individuals to provide truthful and consistent information during registration to prevent future issues.

“To have a reliable and equipped national database, all of us must contribute accurate information,” Adebayo urged.

“This database can only be as reliable as the information provided by the public.

“The consumer is our priority, therefore, considering the challenges the blockages have caused, the commission has directed all operators to reactivate all lines that were disconnected over the weekend… Reactivated consumers are to note that this is for a limited period to allow them to properly link their NIN to their SIM,” he added

On Thursday morning, policemen tear-gassed defiant protesters at the Lekki Tollgate in Lagos.

These protesters carried placards expressing their dissatisfaction with President Bola Tinubu’s administration, marching against hunger and hardship across Nigeria.

Protesters gathered at the Lekki Tollgate during the End Bad Governance protest on August 1, 2024.

Chanting solidarity songs, the protesters decried the hunger in the country and called for swift government action. “We just want the country to be stable. People are hungry. People are dying. We are not coming to fight; we only want the government to do something,” said one female protester.

Numerous security agents, including policemen, soldiers, officers of the Nigeria Security and Civil Defence Corps (NSCDC), and the Lagos State Neighbourhood Safety Agency, were present at the iconic tollgate.

They informed the mostly young demonstrators of a court order restricting their gathering to Gani Fawehinmi Park in Ojota and Peace Park in Ketu, both in Lagos mainland.

The youths who converged at the tollgate rejected the relocation to Lagos mainland and continued their demonstrations until they were dispersed by police teargas.

The nationwide protests against economic hardship began on August 1, 2024, and are scheduled to continue until August 10 across all states in the country.

In recent months, food and basic commodity prices have skyrocketed as Nigerians face one of the worst inflation rates and economic crises, exacerbated by the government’s petrol subsidy removal and forex unification policies.

Despite warnings from the police, military, and Department of State Services against Kenya-style protests, and politicians’ appeals for youths to cancel the planned rallies, the young people remain undeterred.

Nigeria’s Badminton star, Anuoluwapo Opeyori, crashed out of the 2024 Paris Olympics after losing his second consecutive match against China’s Li Shi Feng 2-0 in a Group N encounter.

Opeyori started his Olympics campaign on a sad note when he lost his first match against Switzerland’s Tobias Kuenzi 2-0 (20-22, 14-21)on Tuesday.

It was not a straightforward victory for Li Shi Feng as Opeyori gave him a tough run. The first set ended 21-17 in favour of the Chinese.

Opeyori bounced back in the second set with an impressive performance to lead 11-7 before Li Shi Feng fought back to win 21-17 to end his Olympics campaign in the first round.

He is Nigeria’s only representative in Badminton and his exit ends Nigeria’s chances of winning any medal in Badminton.

Opeyori is delighted with the opportunity to showcase his talent at the Olympics.

He said, “I am so impressed with my performance; I gave a good account of myself in the men’s singles playing against one of the best players in the world. The Olympics gave me an opportunity to get exposed properly and I am wishing myself all the best.”

Opeyori joins the table tennis quartet of Aruna Quadri, Fatimo Bello, Offiong Edem and Omotayo Olajide to crash out of the Paris 2024 Olympics.

The Minister of Communications, Innovation and Digital Economy, Dr. ‘Bosun Tijani, has lamented the destruction of a technology hub in Kano, just days before its scheduled launch.

The Digital Innovation Park, designed to support Nigeria’s technical talent accelerator program (3MTT), was reportedly set ablaze and looted during the protests on Thursday.

“Sad to learn that our Digital Innovation Park in Kano slated for launch next week to support our technical talent accelerator (3MTT) has been set ablaze and looted by protesters,” Tijani stated in a post via X on Thursday.

The incident occurred as part of wider unrest in Kano, where protesters targeted the yet-to-be-commissioned Nigeria Communication Commission Industrial Park.

Tijani highlighted the immediate impact of this destruction on planned initiatives.

“Alongside #3MTT, this building is set to host our buildathon holiday maker programme for secondary school kids starting next week,” he added.

The minister characterised the damage as a setback for the journey to deepening the workforce for technology and creating job opportunities for the youth.

“Millions of Naira down the drain,” Tijani said.

Former Ekiti State Governor, Ayodele Fayose, has clarified that his recent remarks on Nigeria’s population challenges were not aimed at any specific person or region and that he stands by his comments without apology.

Naija News reports that Fayose, an ally of President Bola Tinubu, recently suggested that polygamy and large family sizes are significant factors in Nigeria’s population crisis.

These remarks were made during an interview on Channels TV, where Fayose indicated that Tinubu’s difficulties in managing economic hardship stem from “indiscriminate” childbearing and marriage, particularly in Northern Nigeria.

In response, social activist and former Kaduna State lawmaker, Shehu Sani, condemned Fayose’s statements about marriage customs in the North.

Similarly, a chieftain of the Peoples Democratic Party (PDP), Dele Momodu, also criticized Fayose, urging against blame games during this critical period.

Addressing the backlash, Fayose took to his X handle to clarify his stance, stating, “No Apologies, My Comment Not Targeted At Anyone or Any Region.”

He elaborated, “I have no reasons to say derogatory things about anyone, not even the North, not the South.

“What I said was very clear.

“I said I visited a State in the North, I didn’t mention the State. And I gave an illustration that I got talking to a Gateman who said to me that he had four wives and 16 children. And I said what can the government do about such a person? What can government do about a Gateman with four wives and 16 children?

“That illustration is not about the North, it could be anyone in the Southwest, Southeast or South-South.”

Fayose emphasized, “Some people are saying I should apologize, and I want to state that I have no apology because I have not offended anyone. My point is, the nation needs to address the issue of its population, either North, South or anywhere.”

He further remarked, “It is regrettable that people like to pervert the truth and quote others out of context. Majority of those who have reacted to that interview did not even watch it, they didn’t also bother to see the video.

“Therefore, I can’t be bothered about the anger of anyone. I have no reasons to be derogatory about anyone, any region or group.”