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Breaking: President Tinubu offers lifeline to Dangote Refinery, NNPC to sell crude to it in Naira

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To ensure the stability of the pump price of refined fuel and the dollar-Naira exchange rate, the Federal Executive Council today adopted a proposal by President Tinubu to sell crude to Dangote Refinery and other upcoming refineries in Naira.

Dangote Refinery at the moment requires 15 cargoes of crude, at a cost of $13.5 billion yearly. NNPC has committed to supply four.

But the FEC has approved that the 450,000 barrels meant for domestic consumption be offered in Naira to Nigerian refineries, using the Dangote refinery as pilot. The exchange rate will be fixed for the duration of this transaction.

Afreximbank and other settlement banks in Nigeria will facilitate the trade between Dangote and NNPC Limited. The game changing intervention will eliminate the need for international letters of credit. It will also save the country of billions of dollars used in importing refined fuel.

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FG Vows to End Frequent Power Grid Collapses

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The Minister of Power, Adebayo Adelabu, has assured Nigerians that the Federal Government is intensifying efforts to put a stop to the recurring national grid collapses and improve overall stability in the country’s power sector.

Speaking in Uyo, Akwa Ibom State, on Friday during the maiden retreat of the Nigerian Independent System Operator (NISO) themed “NISO on the Move,” Adelabu—represented by the Permanent Secretary of the Ministry, Alhaji Muhammadu Mamman—said President Bola Tinubu’s administration has been implementing fresh strategies from day one to stabilise the grid and curb nationwide power outages.

According to him, the establishment of NISO is one of the key reforms introduced by the Federal Government to transform operations within the power sector and drive reliable electricity supply.

Nigeria has long grappled with repeated grid collapses, largely attributed to ageing infrastructure, inadequate funding, poor maintenance, and vandalism. These disruptions have resulted in widespread blackouts, affecting businesses, slowing economic activity, and forcing households to depend heavily on generators and other costly alternatives.

Adelabu noted that the current administration is committed to reversing these trends. “Since the commencement of this administration, things have been done differently. The creation of the Nigerian Independent System Operator is a clear indication of government’s renewed approach to achieving grid stability, reducing power outages, and ensuring every Nigerian has access to electricity,” he said.

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China Reaffirms Commitment to Supporting Nigeria’s Fight Against Terrorism

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China has restated its readiness to continue supporting Nigeria in the ongoing fight against terrorism and efforts to maintain national stability.

Chinese Ambassador to Nigeria, Yu Dunhai, gave the assurance after a meeting with the National Security Adviser, Nuhu Ribadu, on Thursday.

In a statement shared via X, the ambassador said China “firmly supports” the Nigerian government’s development strategies that align with the country’s realities and long-term goals.

Dunhai also emphasized that China remains opposed to any external interference in Nigeria’s internal affairs “under the pretext of religion and human rights.”

The meeting further strengthened diplomatic ties between both nations, with discussions centered on security collaboration and sustainable development.

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Tanzania Erupts in Protests Over Controversial Election as President Samia Faces Mounting Pressure

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Tanzania has been plunged into chaos as citizens flood the streets to protest alleged irregularities in the country’s presidential election.

The unrest, which erupted shortly after the announcement of preliminary results, has spread rapidly across major cities. In Dar es Salaam — the nation’s commercial hub with a population exceeding seven million — the situation escalated as angry demonstrators set government offices and several public buildings on fire.

The tension comes amid heightened political scrutiny of President Samia Suluhu Hassan, who became Tanzania’s first female president following the death of her predecessor, John Magufuli, in 2021. Many opposition supporters allege that the current election was manipulated to keep her in power, raising concerns about transparency and fairness in the democratic process.

In response to the violence, the police have imposed an overnight curfew in Dar es Salaam to restore order and prevent further destruction. Security forces have also been deployed across key areas of the city to contain the growing tension.

Authorities have urged citizens to remain calm while investigations into the alleged electoral misconduct continue. However, opposition figures and civil society groups are demanding accountability, insisting that the people’s mandate must be respected.

As the crisis deepens, many fear the situation could spiral into nationwide unrest if dialogue and swift action are not taken.

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