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The Nigeria Labour Congress (NLC) has strongly condemned the recent increase in fuel prices, describing it as an aberration that undermines the principles of a deregulated market.
The NLC argues that the Nigerian National Petroleum Company Limited (NNPCL), a government-owned entity, should not be the sole arbiter of fuel prices in a sector that is supposedly open to market forces.
In a statement released by NLC President, Joe Ajaero, the union demanded an immediate reversal of the fuel price hike, emphasizing that past increases have not led to any tangible benefits for the Nigerian populace.
The statement titled “What next after increase in pump price?” reads, “We are dismayed by the latest increase in the pump price of petrol. It looks like the only thing this government is known for is the increase in the pump price of petrol without commensurate capacity of Nigerians or mitigatory measures.
“Even following the logic of market forces, we find it an aberration that a private company (NNPCL) is the one fixing prices and projecting itself as a hegemonic monopoly. We challenge the government to go to the drawing board and present us with a blueprint for inclusive economic growth and national development instead of this spasmodic ad hocism and palliative policy.
“It needs no stating the fact that the latest wave of increase has grossly altered the calculations of Nigerians once again at a time they were reluctantly coming to terms with their new realities. It will further deepen poverty as production capacities dip, and more jobs lost with multidimensional negative effects.
“In light of this, we urge the government to immediately reverse this rate hike as previous increases did not produce any good results. People only got poorer. But more fundamentally, the government should be bold enough to tell Nigerians in advance the destination it wants to take the country.”
![[PRESS RELEASE] What Next After Increase in Pump Price?](/media/k2/items/cache/92c45a7779e5e6429c692420d46058a8_L.jpg)
We are dismayed by the latest increase in the pump price of petrol. It looks like the only thing this government is known for is increase in the pump price of petrol without commensurate capacity of Nigerians or mitigatory measures.
Even following the logic of market forces , we find it an aberration that a private company (NNPCL) is the one fixing prices and projecting itself as a hegemonic monopoly.
We challenge the government to go to the drawing board and present us with a blueprint for an inclusive economic growth and national development instead of this spasmodic ad hocism and palliative policy.
It needs no stating the fact that the latest wave of increase has grossly altered the calculations of Nigerians once again at a time they were reluctantly coming to terms with their new realities.
It will further deepen poverty as production capacities dip, more jobs lost with multidimensional negative effects.
In light of this, we urge the government to immediately reverse this rate hike as previous increases did not produce any good result. People only got poorer.
But more fundamentally, the government should be bold enough to tell Nigerians in advance the destination it wants to take the country.
Comrade Joe Ajaero
President
..Wants Him to Rally All Edo for Development
...Stressing Its Campaign Was Anchored on Fairness, Equity, Justice
The Esan Okpa Initiative (EOI), a pan Esan socio-cultural umbrella organisation, has congratulated Distinguished Senator Monday Okpebholo, the Governor Elect in the just concluded Edo State Governorship Election, saying that his emergence vindicates its struggles and unrelenting campaigns for a Governor of Esan extraction.
In a letter signed by its President, Rt Hon Mathew Egbadon and Public Relations Officer, Mr Tony Iyare, and released in Benin City, the organization wants the Governor Elect to mobilize and rally all Edolites irrespective of their political leaning, for the daunting task of governing and steering the state for development, stressing that ““EDO OKPA MAN KHIN”, we are one people!”
Restating why it was at the vanguard of the campaign for an Edo State Governor of Esan extraction, leading to meaningful engagements with Edo political elites across party lines, traditional rulers and other stakeholders in the three senatorial zones of the state in the period leading to the election, Esan Okpa says that it was anchored on “fairness, equity and justice”.
The letter reads in parts:
“The Esan Okpa Initiative (EOI), a pan Esan socio-cultural umbrella organization, wishes to warmly congratulate you on your victory at the just concluded Edo State Governorship election. No doubt, it was a hard-fought and hard-won battle.
“Our organization was in the forefront of leading the concerted campaign for a Governor of Esan extraction for our dear State; a campaign that was predicated on fairness, equity and justice, which led to meaningful engagements with Edo political elites across party lines, traditional Rulers and other stakeholders in the three senatorial zones of the state in the period leading to the election.
“We are particularly delighted that these unrelenting efforts and engagements, and the support of God Almighty, paved the way for your eventual emergence as candidate of one of the major parties, the All Progressive Congress (APC) and your subsequent victory at the election.
“Needless to remind you that now that you have been elected, you will be the governor of all Edolites, both those who voted for you and those who did not during the election.
“No doubt, the challenges facing the development of our dear Edo State, may be daunting, but are not insurmountable, with your focused and determined resolve to tackle them, with the collective support of all Edolites. We hope and pray that you will prove wrong, those cynics who may not believe you can change the narrative of things in Edo State, for the better.
Edo people are industrious, adventurous, creative, enterprising, and smart, which accounts for their tremendous achievements in different sectors of life-academia, industries, politics, business and the professions. History beckons on you to mobilize and unite all Edo people behind you and bring about the much-desired positive changes and cohesion in Edo State, the heartbeat of the nation. Kindly remember that “EDO OKPA MAN KHIN”, we are one people!
“Our organization wishes you well and pray fervently that the Almighty God will grant you the wisdom, grace, protection and guidance in the arduous task of governing and administering Edo State for the overall well-being of our people” the letter concluded.
Senate President Godswill Akpabio has urged Nigerians to place their love for the country above financial gain.
Akpabio spoke on the floor of the senate on Tuesday.
The Senate President asserted that the country would be better if citizens who are skilled in various fields stayed back in the country.
“The country is losing its expertise. If they acquired those expertise and returned to Nigeria, it would have been better,” he said while commenting on a motion seeking to address mass immigration of Nigerians
“I also think the conditions of service are quite responsible. I believe people should place love for their country above financial gains.
“That is why many of us choose to remain here,” he added.
Akpabio said the massive migration of Nigerians has adversely impacted the country’s health sector.
He said, “The brain drain is a big problem, not just in the educational sector, particularly in the health sector – it is affecting us a lot.
“The greatest professionals in medicine in the USA, from what I read, some people say we have almost 22,000 health workers in there (US) who are Nigerians and they are doing extremely well.
“I have seen that from different reports.
“In the educational sector, the disadvantages are too numerous because some of the departments do not have even up to 50 per cent staff strength.
“So what then are you teaching our children? It’s like a computer, garbage in and garbage out.”
The Senate President said the National Assembly would continue to do its best to better the lives of teachers so that they could stay back and impact future generations.
The Federal Ministry of Education has set up a 31-man panel to renegotiate the agreement entered into between the Federal Government and the Academic Staff Union of Universities.
The committee, according to findings by our correspondent, will be inaugurated next Wednesday.
This move by the government is part of plans to avert a potential disruption in the academic calendar of universities, following a fresh strike threat issued by ASUU.
Speaking to our correspondent in Abuja, the Director of Press, FME, Folasade Boriowo, said, “The government has started working, and I am sure that ASUU won’t be embarking on a strike because a number of developments are ongoing. A 31-man renegotiation committee has been formed, and they will be inaugurated next Wednesday.”
ASUU recently issued the Federal Government a 14-day ultimatum to resolve several lingering issues, failing which it would embark on a fresh round of industrial action.
Among other demands, ASUU is seeking the conclusion of the renegotiation of the 2009 FGN/ASUU Agreement based on the Nimi Briggs Committee’s Draft Agreement of 2021, as well as the release of withheld salaries due to the 2022 strike action.
Additionally, ASUU is demanding the release of unpaid salaries for staff on sabbatical, part-time, and adjunct appointments affected by the Integrated Payroll and Personnel Information System, as well as the payment of outstanding third-party deductions such as check-off dues and cooperative contributions.
The union is also seeking funding for the revitalization of public universities, partly captured in the 2023 Federal Government Budget, and the payment of Earned Academic Allowances, also partly captured in the 2023 Federal Government Budget.
ASUU President, Prof. Emmanuel Osodeke, in a statement issued last Wednesday, expressed frustration with the government’s lack of commitment and delay tactics, stating that these actions were fueling a crisis in the public university system.
“In view of the foregoing, ASUU resolves to give the Nigerian Government another 14 days, in addition to the earlier 21 days, beginning from Monday, September 23, 2024, during which all the lingering issues must be concretely addressed to the satisfaction of the membership of the union. The union should not be held responsible for any industrial disharmony that arises from the government’s failure to seize the new opportunity offered by ASUU to nip the looming crisis in the bud,” the ASUU President said.
The President of Dangote Group, Aliko Dangote, has said that Nigeria needs to stop mortgaging crude oil to ensure the availability of feedstock for local refineries.
Dangote, who spoke at a summit organised by the Crude Oil Refinery Owners Association of Nigeria in Lagos, said it was unfortunate that while countries like Norway are putting oil proceeds into a future fund through their national wealth funds, Nigeria and African countries are spending oil proceeds from the future.
“To ensure sufficient feedstock availability we will need to stop mortgaging crude. It is unfortunate that while countries like Norway are putting oil proceeds into a future fund through their national wealth funds, in Africa, we are spending oil proceeds from the future today,” he stated.
On October 4, 2024, The PUNCH exclusively reported that the Nigerian National Petroleum Company Limited had pledged 272,500 barrels per day of crude oil through a series of crude-for-loan deals totalling $8.86bn.
The report stated that pledging 272,500 barrels daily meant that about 8.17 million barrels of crude would be used for different loan deals by the national oil firm on a monthly basis.
This, it said, was according to an analysis of a report by the Nigeria Extractive Industries Transparency Initiative and the NNPC’s financial statements.
On Tuesday at the event, Dangote, who was represented by the Group Executive Director, Mansur Ahmed, said the country must also prioritise the implementation of the domestic crude.
“We will also need to prioritise the implementation of the domestic crude supply obligation. We will need to expand crude production capacity to support demand from the refinery,” he submitted.
He also revealed that the company built the 650,000 barrels per day capacity Dangote refinery In Lagos without any incentive from the government.
“We built the Dangote refinery without a single incentive from the government. However, to achieve the vision of turning Nigeria into a refining hub for the region, investors need to be incentivised,” he stated.
Dangote maintained that 1.8 million barrels of new refining capacity is coming on stream in the next three years in Kuwait, China, and Bahrain.
On the other hand, he said Europe is tightening environmental standards while Holland and Belgium have banned exports of low-quality petroleum products from their hubs, stressing that these low-quality products used to be destined for Africa.
Quoting a report, Dangote mentioned that several refineries across Europe and China, with a total capacity of 3.6 million barrels per day are likely to be shut down over the next couple of years.
He said, “It was recently in the news that Scotland’s only refinery will be shut down next year. Shell is converting the 7.5 million tonnes per annum refinery in Germany to a lubricating plant.
“So, the opportunities are there. Africa imports about 3 million barrels per day of petroleum products. About half of this volume is imported by countries along the coast from Senegal to South Africa.
“These same countries produce over 3.4 million barrels of crude per day, which indeed highlights the problem of the dimension of excess crude production capacity without refining capacity. The imports come from Europe, Russia, and other parts of the world.
“So to grab this opportunity, we will need to build 1.5 million barrels per day of additional refining capacity. This would not be an easy feat, and strong support from the government and cooperation between stakeholders would be essential.”
This came as the Federal Government announced that it has officially designated the Dangote refinery as the exclusive supplier of jet fuel or Jet A1 for Nigerian airline operators.
This was disclosed by the Minister of Aviation, Festus Keyamo, during an interview with Channels TV on Tuesday.
“The airline operators just met recently. With my blessing, it’s a decision from the airline operators in Nigeria that they should only buy from Dangote refinery Jet A1,” Keyamo said.
“You can see that yesterday we started the naira-for-crude purchase with Dangote. It’s all naira, no dollar component,” he added.
Keyamo further explained that sourcing jet fuel from Dangote would protect airline operators from the volatility of international oil prices, ultimately lowering their operational expenses.
Milan prosecutors Fabio De Pasquale and Sergio Spadaro have been sentenced to eight months in prison for hiding vital evidence in the trial of Shell and Eni over the OPL 245 affair.
According to a report by Ansa, an Italian news website, the sentence was handed down by a Brescia court on Tuesday.
The sentence, which is suspended — meaning they would only go to jail if there is a repeat offence — is another episode in the OPL 245 saga which the Italian prosecutors lost in the Court of Milan after failing to provide evidence of fraud in the sale of the oil block to Shell and Eni by Malabu Oil and Gas Limited, a Nigerian company, in 2011.
All the cases alleging fraud in the OPL 245 transaction failed in Italy, the UK and in Nigeria.
The Brescia court, chaired by Roberto Spanò, ruled that De Pascale and Spadaro as state attorneys had a legal obligation to present all documents during the trial in Italy.
These documents include those that could have helped the case of the defence.
The judges ruled that the prosecutors gad infringed the rights of the defendants by failing to provide them.
Their lawyers had asked the magistrates to acquit them on the ground that they were not under obligation to present the documents to the Milan court.
De Pasquale was demoted in May 2024 by the country’s Superior Council of the Judiciary (CSM) for “lack of impartiality and fairness” in the way he handled the prosecution.
He had also hidden evidence that showed that the property purportedly linked to Mohammed Bello Adoke, the Nigerian attorney-general when the OPL 245 resolution agreement was signed, as bribe from the OPL 245 in fact belonged to the Central Bank of Nigeria (CBN).
Adoke was discharged by an FCT high court in March 2024 over allegations of bribery and corruption in the transaction filed by the Economic and Financial Crimes Commission (EFCC).
Also discharged and acquitted by the court are: Aliyu Abubakar, a businessman; Rasky Gbinigie, Malabu Oil & Gas Ltd’s company secretary; Malabu Oil & Gas Ltd; Nigeria Agip Exploration (NAE); Shell Ultra Deep Nigeria (SNUD) Ltd; and Shell Nigeria Exploration Production Company (SNEPCO) Ltd.
The high court chided the EFCC for wasting four years over the case without a shred of evidence of crime.
THE OPL 245 CASE
Shell and Eni had, in 2011, paid $1.1 billion to acquire OPL 245 after Malabu, the original allotee, relinquished its entire interest in the oil block.
This followed a settlement brokered by the Nigerian government to end a 10-year legal dispute on the acreage, which is considered to be one of the richest in Africa.
The oil companies also paid a signature bonus of $210 million to the Nigerian government. It is the biggest signature bonus in Nigeria’s history.
However, transparency watchdogs alleged that the $1.1 billion paid to Malabu was intended to bribe government officials.
In 2018, De Pasquale launched a criminal case against the oil companies, their executives, agents and some Nigerians, including Dan Etete, former minister of petroleum resources.
The government of Nigeria joined the suit as the civil “injured” party, while Royal Dutch Shell, ENI S.P.A., Shell Petroleum Development Company of Nigeria Ltd, Shell UK Ltd, and Shell Exploration and Production Africa Ltd were listed as “parties liable for civil damages”.
After a trial that lasted for nearly three years, the Court of Milan, presided over by Marco Tremolada, determined that the allegations of fraud and corruption were not proven.
In July 2022, an attempt to appeal against the verdict was terminated by the attorney general of Italy who said the case “must finish today because it has no basis… in fact, it should have finished earlier”.
Two defendants — including a Nigerian middleman — who had been convicted and jailed in a fast-tracked aspect of the trial were freed after winning on appeal.
WHAT DID DE PASQUALE AND SPADARO ‘HIDE’?
It came to light in June 2021 — three months after Shell and others were discharged and acquitted — that some vital pieces of evidence in the possession of the prosecutors were hidden from the Court of Milan.
This was considered to be a professional misconduct and is now being treated as a criminal act.
The judges of the Milan court said it was “incomprehensible” that the public prosecutor chose “not to file among the proceedings a document which contains extraordinary elements in favour of the defendants”.
One, there was a secretly recorded video in which the former Eni manager, Vincenzo Armanna, who was a defendant in the trial and whose witness statements formed a large part of the prosecution’s case, spoke with Piero Amara, a former lawyer of Eni.
According to the judges, Armanna disclosed an intention to blackmail Eni’s top management and launch a devastating media campaign against them. He hoped to turn to the prosecutor to get them covered in “an avalanche of s***”.
Two, Paolo Storari, the Milanese prosecutor, had sent to De Pasquale and Spadaro chats found on Armanna’s phone suggesting that he had paid $50,000 to Isaak Eke, a Nigerian witness, to make accusatory statements against some co-defendants.
Three, Armanna had also produced purported WhatsApp conversations with Claudio Descalzi, Eni CEO, and Claudio Granata, chief of staff, in 2013 seeking to prove that they asked him to recant his allegations of corruption in the OPL 245 case so that he could be re-hired by the oil company and be helped to make money through a Nigerian firm.
However, it turned out the chats were fabricated after a technological analysis was done in 2021.
The Vodafone numbers attributed to the two top Eni executives were not active in 2013 and did not have any call records.
In January 2023, Christian Colombo, the judge in the preliminary hearing at the Court of Brescia, indicted De Pasquale and Spadaro and remanded them for failing to file the evidence.
Colombo accepted the evidence provided by Brescia prosecutors — Francesco Milanesi and Donato Greco — and decided that the indicted prosecutors should go on trial.
He said De Pasquale and Spadaro had a duty not to conceal from the defence and from the court the facts and evidence at their disposal.
WHAT DOES DE PASQUALE WANT?
De Pasquale styles himself as an anti-corruption hunter and was celebrated for getting Silvio Berlusconi, the former Italian prime minister, convicted over tax fraud in 2012.
He had also been looking to get Eni convicted over allegations of corporate fraud. The OPL 245 case provided him an opportunity to prosecute what transparency campaigners described as “the biggest corporate fraud in history”.
In November 2015, De Pasquale visited Nigeria and had meetings with senior government officials, including Vice-President Yemi Osinbajo, over the OPL 245 affair.
TheCable understands he suggested that Nigeria could get back the $1.1 billion paid by Shell and Eni to Malabu by criminalising the 2011 settlement agreement so that he could pursue a criminal case against the key entities and persons in Italy.
Adoke alleged in his book, ‘Burden of Service’, that the EFCC was asked to go after him by putting him on trial and getting a conviction to serve as proof of corruption in the deal.
This was expected to strengthen De Pasquale’s case in Milan.
Adoke was not in trial in Italy, but the EFCC filed several cases against him in Nigeria and his name was constantly mentioned in the Milan court, although the court did not make any adverse pronouncement against him in its verdict.
One of the cases filed against Adoke was that he collected a $2 million bribe from the $1.1 billion paid to Malabu and bought a property in Abuja, an allegation he denied and for which he has been cleared.
‘DE PASQUALE HIDING VITAL EVIDENCE’
In May 2018, when the Milan trial was on, Adoke alleged that the Italian prosecutors had hidden vital evidence from the court which would have exonerated him of alleged bribery in the transaction.
In June 2021, he also wrote a petition to the Italian minster of justice to complain about the prosecutors.
Adoke alleged that they deliberately concealed his failed N300 million mortgage transaction with Unity Bank from the Milan court just to create the impression that it was a bribe.
He also alleged that an email purportedly sent by him from the account of a property company mentioned in the OPL 245 payments was forged.
Adoke further alleged that a phone conversation was stage-managed to implicate him.
In it, somebody posing as Adoke was heard saying he knew the OPL 245 deal was “a presidential scam”.
Following a petition by Adoke, the Nigerian police quizzed and indicted Olanrewaju Suraju, chairman of HEDA, over allegations of forgery.
HEDA is the Nigerian partner of the international campaigners who helped the Italian prosecutors in the OPL 245 trial.
The Corner House, Re:Common and Global Witness worked with HEDA to generate global media publicity around the trial.
Suraju was charged to court by the federal government over the forgery allegations.
The government later decided to terminate the case, reportedly because it was relying on the same disputed evidence in its civil claims against JP Morgan over the OPL 245 deal.
Suraju was then discharged but not acquitted by the Nigerian court.
Nigeria still lost the JP Morgan case as the commercial court in London ruled that there was no evidence of fraud in the OPL 245 deal.
[TheCable]
Nigerian oil company, Oando Plc, has been shortlisted by the Trinidadian government as one of three final contenders to take over the country’s state-owned refinery, Petrotrin.
The defunct company is a state-owned oil company in Trinidad and Tobago.
The Trinidadian Finance Minister, Colm Imbert, disclosed this during a presentation of its national budget held on September 30. Our correspondent obtained the minister’s speech on Monday.
He noted that among the initial 10 proposals, three companies had made the final shortlist including, CRO Consortium, a consortium of three Trinidadian companies, INCA Energy, an American company, and Nigeria’s Oando Plc.
The bidding process began in February 2024, when the government of Trinidad and Tobago enlisted the services of US-based Scotia Capital to oversee the refinery’s procurement by inviting “expressions of interest.”
Imbert noted, “A formal selective Request for Proposals process will now be initiated to determine the winner among these three companies, with a view to restarting the refinery, if found feasible.”
He explained that the proposals received were evaluated based on five criteria which were, a clear restart plan and timeline by the proposing company.
This restart plan and timeline had to include an asset integrity assessment, utility requirements such as power, natural gas, and water, as well as sources of crude supply.
Other criteria included a viable financing plan that covered working capital, and an agreement with the Trinidadian state oil company, Paria, that safeguarded the national interest in fuel security while addressing the management of Heritage’s crude supply, among others.
The refinery located in Pointe-a-Pierre, Trinidad had been closed since 2018, when the country’s Prime Minister, Keith Rowley noted that the refinery was recording losses of up to $2bn per annum.
Colm Imbert in his budget speech noted that the accumulated losses of the refinery as of the last audit was $15bn, with the country carrying a public debt of $3bn on behalf of the company.
He also noted that when the refinery was shut down in 2018, it was battling with low productivity levels.
Trinidad and Tobago, just like Nigeria is a crude oil-producing nation that relies on imported petroleum products for its energy demands.
According to reports, the refinery under review was built in 1917, making Trinidad the major oil supplier to the Caribbean region. In 1956, the owner of the refinery, Trinidad Leaseholds was acquired by Texaco, however, Texaco’s assets were nationalized in 1984.
In 1993, the Petroleum Company of Trinidad and Tobago (Petrotrin) was formed and formally took over control of the refinery. By 2018, the refinery was shut down and Petrotrin and broken into four companies, including Guaracara Refining Company which is now the holding company for the refinery as well as other assets offered for sale.
Oando Plc in August just completed a $783m acquisition of Nigerian Agip Oil Company, thus increasing the company’s interest in the different joint venture assets.
The acquisition has also given Oando control over 40 oil and gas fields, of which 24 are producing.
Access Holdings Plc says Access Bank, its flagship subsidiary, has secured a provisional licence from the Bank of Namibia to establish a commercial bank in the country.
Speaking in a statement on Monday, Sunday Ekwochi, the company’s secretary, said Access Bank’s operations in Namibia are expected to stimulate the local economy and strengthen its position as a leading regional player.
Commenting on the development, Roosevelt Ogbonna, managing director and chief executive officer (CEO) of Access Bank, described the move as a milestone in the bank’s efforts to promote intra-African trade.
“This expansion represents an important milestone towards establishing a railroad in Namibia for intra-African trade within the Southern African region, Africa, and the rest of the world,” Ogbonna said.
“It cements our commitment to building a robust Southern African banking network to deliver shared prosperity and advance financial inclusion thereby empowering many to achieve their dreams.”
Ogbonna said Access Bank’s entry into the Namibian market aligns with the institution’s broader goal of building a strong global franchise, opening new opportunities for businesses and individuals alike.
The CEO expressed the company’s eagerness to collaborate with local stakeholders to drive innovation, empower communities, and make a significant contribution to the region’s prosperity.
“We remain confident that our investments towards diversifying and strengthening the Bank’s long-term earnings profile will deliver significant value to our shareholders, customers, and wider stakeholder groups,” he added.
The bank also said in the coming months, it would work to fulfill the conditions required for the final licence approval and will keep the market informed.
Access Bank said with existing operations in Angola, Botswana, Mozambique, South Africa, and Zambia, it is positioned to offer stakeholders seamless access to diverse opportunities for expansion and collaboration across the region.
Nigeria has commenced discussions with Brazil to facilitate direct flights between both countries.
Festus Keyamo, minister of aviation and aerospace development, began negotiations with Carlos Garcete, Brazilian ambassador to Nigeria, to activate the bilateral air service agreement (BASA) and initiate direct flights between Nigeria and Brazil.
In a statement on October 7, Tunde Moshood, special adviser, media and communications to the minister, said the move is in line with the directive of President Bola Tinubu.
On August 29, Tinubu urged the Brazilian ambassador to Nigeria, to prioritise the establishment of direct flights between both countries.
“During the discussions, both envoys emphasized the need for new BASA arrangements to reflect current realities in the aviation world,” the ministry said..
“This meeting stems from the mutual interests shared by President Tinubu and Brazilian President Luiz Inácio Lula da Silva during a meeting in Addis Ababa in February 2024, where they agreed to reinitiate the BASA arrangements, recognizing the cultural and economic ties between Nigeria and Brazil.”
To ensure the successful finalisation of the initiative, both countries agreed to set up committees to draft and finalise new BASA arrangements.
The ministry said two Nigerian airlines, Air Peace and Caverton, have been designated to operate on the route, further highlighting the strategic partnership between the two nations.
According to the ministry, the Nigerian aviation industry is expected to see increased expansion and global reach upon the operationalisation of the agreement.
Speaking on the importance of the direct flights, Garcete highlighted the potential for immediate commencement of flight services, noting that both nations could facilitate four to five flights per week.
“The introduction of direct flights will spark significant economic growth between our countries,” he said.
However, he said the open skies agreement needs to be finalised to fully enable the proposed flights.
The ambassador also extended an invitation to the minister to visit Brazil for the formal signing of the agreement, marking a significant milestone in Nigeria-Brazil relations.
On his part, Keyamo, while expressing appreciation for the ambassador’s visit, noted the optimism about the potential economic impact of the BASA.
“There are numerous similarities between Nigeria and Brazil, and the activation of these flights will not only enhance trade but also strengthen cultural and social exchanges,” the minister said.
Keyamo reiterated Nigeria’s commitment to advancing bilateral aviation agreements that foster economic development and connectivity.
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The Federal Government is set to deliver up to 400,000 barrels of Nigerian crude oil daily to the Dangote refinery under its naira-for-crude agreement, a report by Bloomberg stated on Monday.
It said this significant development is expected to take place over the next two months, amounting to 24 million barrels of Nigerian supply between October and November 2024.
This increase in processing capacity could have substantial implications for both the refinery’s operations and the local oil industry, transforming the region’s import and export markets.
This new development follows the announcement by the Federal Government that the naira-for-crude deal has commenced.
The PUNCH had exclusively reported on Monday that the Nigerian National Petroleum Company Limited is set to begin the supply of crude oil in naira to the Dangote Petroleum Refinery this week with three more refineries set to start the production of Premium Motor Spirit.
According to cargo allocations reviewed by Bloomberg News, Dangote’s increasing reliance on local feedstock will disrupt the Atlantic oil market by substantially decreasing Nigeria’s crude exports.
The 650,000-barrel-a-day plant — larger than any other in Africa or Europe — will claim 13 to 14 shipments from Nigeria’s typical monthly program of about 50 cargoes.
The West African crude market is set to be “substantially tighter” in the fourth quarter because of the supply to Dangote, said Ronan Hodgson, a London-based analyst at FGE.
The volumes could even send Nigerian exports below 1 million barrels a day, he said.
Some shipments over the next two months may not be delivered as planned, and October’s list includes two cargoes already delayed from September.
Still, the scheduled volume is significantly larger than the average 255,000 barrels a day of Nigerian oil taken in by Dangote over the first half of the year as it gradually ramped up processing, data compiled by Bloomberg show.
Dangote is already running at 60-70 per cent capacity and will reach its full rate within months, project management firm Engineers India Ltd. Chairman Vartika Shukla said last month.
The latest allocations also suggest that Dangote has continued to curtail its buying of US crude, according to traders.
Earlier this year, the refinery imported millions of barrels of WTI Midland, before re-selling some of the oil and scrapping plans to buy more.
Nigerian National Petroleum Co. reached an agreement with Dangote last month under which the country’s state-owned energy firm will supply crude in return for being the sole distributor of the refinery’s crucial gasoline production.
If Dangote’s ramp-up continues to advance in the coming months, Nigeria could start to realize its long-held goal of curbing costly oil product imports.
“If the refinery runs at higher rates, the West African market for gasoline and diesel imports will shrink extremely quickly,” FGE’s Hodgson said.
The Governor of Kogi State, Usman Ododo, has approved the immediate implementation of a minimum wage of ₦72,500 for civil servants in the state.
The Governor also announced a one-year suspension of the Pay-As-You-Earn (PAYE) tax, adding that no form of deductions would be made within the next year from the salaries of civil servants in the state.
Governor Ododo made this known on Monday during the unveiling of the new minimum wage package for civil servants in the state.
Signing the agreement after receiving a report from the Kogi state minimum wage implementation committee, the Governor said the new minimum wage is to enable workers cope with the current economic situation in the country.
In his words: “I can not forget where I came from, I am a man from a humble background who became who I am by the grace of God and will therefore not use my position to oppress anyone but to better the lots of the people.
“You people generously elected me as your governor, and the resources of the state belong to you all, I am just your chief servant and I will ensure that the resources are allocated to all sectors fairly and equitably.
“All you have seen today is the painstaking efforts of the labour leaders and government who conducted staff audit screenings in the previous administration all in a bid to ensure that the right people take what belongs to them as workers and not ghost workers.”
Ododo, while assuring prompt payment, appealed to workers in the state to continue to cooperate with his administration and give him all the necessary support to succeed.
The Chairman of the State Minimum Wage Committee, who is also the Head of Service,Elijah Evenemi, said the agreement on the minimum wage is not a victory for any political party but for the good of the masses.
He appreciated the governor for giving the committee a free hand to operate and achieve a common goal.
The Rivers State Police Command have remained silent amid sudden violence that erupted at several local government council secretariats on Monday morning.
DAILY POST reports that suspected “political thugs” believed to be supporters of the Minister of the Federal Capital Territory, Nyesom Wike, attacked the Obio/Akpor, Ikwerre, Ogba/Egbema/Ndoni, Eleme, and Emohua local government council secretariats on Monday morning, barely 24 hours after Governor Sim Fubara swore in newly elected LG chairmen.
The attackers reportedly barricaded the council entrances and fired shots indiscriminately.
These actions are allegedly aimed at preventing the newly elected LG chairmen from resuming in their offices.
On Monday, the Inspector General of Police, Kayode Egbetokun, ordered the immediate withdrawal of Police personnel from the 23 Rivers State LG secretariats after over three months of deployment.
In Bori, Khana LGA, a gunfight broke out after armed men opened fire on members of a political party, leading to an exchange of fire between the attackers and the Police.
Reports also indicate that the Bori Police Division recovered the body of a civilian who was fatally shot during the confrontation.
In Eleme, arsonists set fire to the local council in an effort to prevent the newly elected chairman from taking office.
Similarly, heavy gunfire was reported in Obio/Akpor LGA, where assailants sought to disrupt the inauguration of councilors by the local government chairman.
Also, a viral video obtained by DAILY POST showed the Ikwerre LG secretariat engulfed in flames, while in Ogba/Egbema/Ndoni, plastic chairs were scattered at the secretariat’s entrance following further disruptions by the alleged political thugs.
Unconfirmed reports suggest that three people have been killed in the chaos across Obio/Akpor, Khana, and Ahoada East LGAs.
Despite numerous calls for action, the state police command has yet to comment on the situation or take decisive steps to restore order and security at the affected secretariats.
[DailyPost]
Staff of the National Agency for Food and Drug Administration and Control, NAFDAC, embarked on an indefinite nationwide strike on Monday following the expiration of a 14-day ultimatum issued to the agency’s management.
This is coming after a meeting convened on Friday, October 4, 2024 over unresolved issues.
The staff’s demands include a review and re-evaluation of the 2024 promotion examination results, which currently show a pass rate of only 35 percent.
The union is also advocating for a minimum benchmark of 80 percent for this year’s and future promotion exams.
Another significant demand is the settlement of salary arrears for employees hired in 2022.
In a statement signed by the association’s Secretary, Ejor Michael, the union accused NAFDAC management of neglecting their grievances, labelling the inaction as insufferable.
The striking workers, following the directive of the Senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASCGOC), have been instructed to withdraw all services and vacate their offices.
They were also told to remove personal belongings as the strike commences.
The workers have vowed to continue the strike until all demands listed in their communiqué are fulfilled.