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PRESIDENT TINUBU ASSURES OF MORE STABILITY IN THE OIL SECTOR WITH NAIRA FOR CRUDE TRANSACTIONS, URGES STAKEHOLDERS TO UPHOLD THE INTEREST OF THE NATION

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STATE HOUSE PRESS RELEASE

PRESIDENT TINUBU ASSURES OF MORE STABILITY IN THE OIL SECTOR WITH NAIRA FOR CRUDE TRANSACTIONS, URGES STAKEHOLDERS TO UPHOLD THE INTEREST OF THE NATION

President Bola Ahmed Tinubu, speaking Tuesday in Abuja, commended the Implementation Committee on the Naira-based sales of crude oil and refined products and asked the members to resolve any teething problems.

In a review meeting at the State House, the President said that using the Naira was conceived to remove the exchange rate hurdle.

“Whatever solution we proffer in crude oil and refined products sales in Naira should not take us back to our experience in the last 40 years.

“There can be cost and revenue adjustment in the oil sector, but the issue is that the government will not have to go back to the old way of doing things,’’ the President stated.

President Tinubu said the various players in the oil sector, including the Nigerian National Petroleum Corporation Ltd and the Dangote Refinery, should work to improve the economy and the livelihood of Nigerians.

The President urged stakeholders to look inward and consider supplying enough petrol and petroleum products for local consumption to stop the persistent reliance on importation. He said this would enable the channelling of foreign exchange into the development of the real sector.

The President advised stakeholders to use Afreximbank as a settlement bank to resolve the Naira pricing for crude and refined products. Afreximbank is already on board as the financial adviser.

“The market must determine what we are doing. Once you allow the market to determine the profit and loss, independent marketers and the government side can meet on the worksheet. I want the issues resolved without future waste of time,’’ he added.

“We can have energy security, and the motivation for Alhaji Aliko Dangote will not be defeated. It will be more predictable on a medium and long-term basis,’’ the President said.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the administration’s groundbreaking steps to sell crude in Naira would not be reversed, and the government would not be involved in determining the rate of exchange for the oil sector.

The President and Chief Executive of Dangote Group told the President that the refinery had more than 500 million litres of fuel in reserve after supplying 400 million to the economy.

He said the refinery could collaborate with the other refineries managed by NNPC Ltd to meet an estimated 32 million litres of local petrol needs.

At the meeting, the Federal Inland Revenue Service Chairman, Zach Adedeji, who chairs the technical committee, said importing refined products should end once we have the capacity to produce enough to meet domestic needs.

“The vision of Mr President is to turn Nigeria into a hub for refined products to export to the world.”

Other stakeholders at the meeting included Prof. Benedict Oramah, the President and Chairman of the Board of Afrexim Bank, and Sen. Abubakar Atiku Bagudu, the minister of budget and national planning and Group Managing Director of NNPC Limited, Mele Kyari.

The president’s special adviser on energy, Olu Verheijen, and the CEOs of NIMASA and Nigerian Ports Authority also attended, along with Engineer Gbenga Komolafe, head of Upstream Regulator, and Farouk Ahmed, head of Midstream & Downstream Regulator, NMDPRA.

Bayo Onanuga

Special Adviser to the President

(Information and Strategies)

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Accord Party Crisis Deepens As Another Governorship Candidate Emerges For Osun Polls

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A faction of Accord Party has held its own governorship primary, where Mr. Clement Bamigbola emerged as the faction’s governorship candidate for the 2026 Osun State election.

This is coming just four days after the emergence of Governor Ademola Adeleke as the party’s flag-bearer.

Recall that the party under the leadership of Maxwell Mgbudem, on Wednesday, held a similar exercise which produced Governor Ademola Adeleke as the party’s candidate.

However, a faction of the party rejected his emergence, insisting that Barrister Maxwell Mgbudem is not the legally recognized national chairman of the Accord Party.

In a fresh development on Sunday, about 300 delegates of the Accord Party from across Osun State elected Bamigbola as the factional candidate during a primary held at Regina Suite, Osogbo.

Bamigbola emerged through a voice vote conducted by the delegates, after which the Chairman of the Primary Committee, Hon. Olufemi Ogundare, declared him the party’s candidate for the 2026 Osun State governorship election.

 

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Tinubu, ECOWAS leaders meet in Abuja over Benin coup, regional stability

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President Bola Tinubu and leaders of ECOWAS countries are currently meeting in Abuja.

The 68th Ordinary Session of the ECOWAS Authority of Heads of State and Government is taking place at the State House Conference Centre, in Abuja.

Leaders of West African countries at the meeting include President Julius Bio (Sierra Leone, ECOWAS Chair), President Patrice Talon (Benin), José Maria Neves (Cabo Verde) and Alassane Ouattara (Côte d’Ivoire).

Others are Adama Barrow (The Gambia), John Mahama (Ghana), Umaro Embaló (Guinea-Bissau), Joseph Boakai (Liberia), Bassirou Faye (Senegal) and Faure Gnassingbé (Togo).

The meeting is coming against the backdrop of five turbulent years for West Africa, which saw coups in Mali (2020, 2021), Burkina Faso (twice in 2022), and Niger (2023).

The latest incidents include an attempted coup in Benin on December 7, 2025, and renewed instability in Guinea-Bissau.

At the time of filing this report, details of the meeting are yet to be disclosed.

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Breaking: Diri Orders Autopsy on Bayelsa Deputy Governor’s Death, Warns Against Politicisation

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Bayelsa State Governor, Senator Douye Diri, has ordered an autopsy to determine the cause of death of the state’s Deputy Governor, Lawrence Ewhrudjakpo.

Governor Diri gave the directive on Saturday while receiving former President Goodluck Jonathan at the Government House in Yenagoa.

Ewhrudjakpo reportedly collapsed in his office on Thursday and was rushed to the Federal Medical Centre (FMC), Yenagoa, where he was pronounced dead on arrival.

Reacting to the incident, the governor condemned what he described as widespread misinformation and speculation on social media, warning against any attempt to politicise the deputy governor’s death.

“I want to make an appeal. I have seen people politicise his death. In Ijaw land, there is no enmity in death. Let nobody politicise the passing of our dearly beloved deputy governor,” Diri said.

“If anyone truly loves him, this is the time to show it. I have directed that an autopsy be carried out to reveal the cause of his death. There is a lot of nonsense going on on social media.”

The governor further urged the public to focus on mourning and honouring the late deputy governor, noting that the state government had declared three working days of mourning in his honour.

“If anyone is issuing statements to eulogise him, let it end there. Let us mourn him because Bayelsa State is in a mourning mood,” he added.

Governor Diri also called for unity and love among the people, reminding them of the inevitability of death.

Speaking during the condolence visit, former President Goodluck Jonathan described the late Ewhrudjakpo as a committed and dedicated individual who played a key role in the activities of his foundation.

“For me, he was someone my foundation and I will never forget. He represented the governor in all our programs,” Jonathan said, adding that Ewhrudjakpo worked tirelessly in that role, even more than when he served as deputy governor.

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