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Nigeria And Others Face Petrol Import Disruption As Russia Halts Exports

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Nigeria And Others Face Petrol Import Disruption As Russia Halts Exports....KINDLY READ THE FULL STORY HERE▶

 

Nigeria’s petrol importation could encounter significant disruption following Russia’s decision to halt petrol exports starting from March 1. The move, confirmed by the Russian government, aims to ensure sufficient fuel supply to meet domestic demand amidst intermittent shortages.

According to reports from the French international news agency, Agence France-Presse (AFP), Russia, the world’s third-largest oil producer, has been grappling with fuel shortages since last summer due to surging demand and refinery maintenance.

The ban on petrol exports, effective for six months until August 31, underscores Russia’s efforts to stabilize its domestic fuel market. In 2023 alone, Russia produced 43.9 million tonnes of petrol, with approximately 13% of its total production exported, primarily to African nations like Nigeria, Libya, Tunisia, and the United Arab Emirates.

Nigeria, a significant importer of Russian petrol, experienced an 84% surge in imports within a year, reaching 3.8 million litres in 2023. This surge highlights the country’s reliance on Russian petrol imports, as reported by PUNCH Online based on data from Argus West Africa Oil.

The ban on petrol exports comes amidst embargoes imposed on Russia by major Western nations following its invasion of Ukraine. Seeking alternative markets, Russia aims to stabilize its fuel market amid high demand during the spring agricultural season, holiday period, and refinery maintenance.

The decision reflects Russia’s determination to prevent fuel shortages ahead of upcoming elections, emphasizing President Vladimir Putin’s efforts to maintain control. Last year, a similar ban on exporting diesel and petrol led to challenges for farmers in certain regions, impacting grain harvesting due to fuel shortages.

As Nigeria and other nations brace for potential disruptions in petrol imports, the move underscores the vulnerability of global energy markets to geopolitical tensions and the need for diversified energy strategies to ensure stability in fuel supply chains.

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CAF Delegation Arrives In Nigeria For Crucial Final Inspection Ahead Of Assembly, Awards.

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A 15-member delegation from the Confederation of African Football (CAF) is expected to arrive in Nigeria on Friday, October 16, to conduct a final inspection of facilities ahead of the 48th CAF Ordinary General Assembly and the 2026 CAF Awards.....KINDLY READ THE FULL STORY HERE▶

The delegation, led by CAF Head of Safety and Security, Dr Christian Emeruwa, will assess venues and related arrangements in Lagos and Abuja to ensure they meet the standards required for hosting the two major continental events.

During their visit to Lagos, the CAF officials will inspect the Wole Soyinka Centre for Culture and Creative Arts, Eko Hotel and Suites, and Murtala Muhammed International Airport. They are also scheduled to meet with representatives of the Lagos State Government.

The team will then proceed to Abuja, where it will assess the Bola Ahmed Tinubu International Conference Centre, Transcorp Hilton Hotel, and Nnamdi Azikiwe International Airport.

The delegation is also expected to pay courtesy visits to the Chairman and Director-General of the National Sports Commission.

A six-member delegation from the Nigeria Football Federation (NFF), led by Dr Ademola Olajire, will accompany the CAF officials throughout the inspection exercise.

The visit follows an earlier assessment conducted between July 31 and August 4, during which initial operational agreements were established.

The final inspection will focus on verifying the readiness of the venues, security provisions and logistical arrangements to ensure the successful hosting of both events.

The 48th CAF Ordinary General Assembly is scheduled to hold on Saturday, November 21, at the Bola Ahmed Tinubu International Conference Centre in Abuja.

Meanwhile, the 2026 CAF Awards ceremony is slated for Monday, December 7, at the Wole Soyinka Centre for Culture and Creative Arts in Lagos.

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Wike Speaks Ahead Of Visit To Pastor Enenche’s Dunamis Church, Reveals His Plans.

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The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has disclosed plans to visit Dunamis International Gospel Centre in Abuja, where he intends to highlight the achievements of President Bola Tinubu’s administration.....KINDLY READ THE FULL STORY HERE▶

reports that Wike made this known on Thursday, October 15, during his induction into the Idoma Hall of Fame.

The minister revealed that the Senior Pastor of Dunamis International Gospel Centre, Paul Enenche, had invited him to commission a pedestrian bridge constructed by the church.

Wike said he would use the occasion to address members of the congregation and explain what he described as the benefits of the Tinubu administration.

He also claimed that approval for the pedestrian bridge was not granted until the current administration came into office.

“I’m going to Dunamis Church. Pastor Enenche invited me to commission their pedestrian bridge. I’ll go there and speak to the people and tell them there are lots of advantages under this government.

“I’ll tell them nobody approved this bridge until we came. Yes! It’s correct,” Wike said.

The pedestrian bridge was built by Dunamis International Gospel Centre, with its commissioning scheduled for October 30, 2026.

Wike’s comments came less than 24 hours after he attended the inauguration of the Presidential Campaign Council of President Tinubu at the Presidential Villa in Abuja.

During Wednesday’s event, the former Rivers State governor reiterated his support for Tinubu’s re-election bid, pledging to mobilise voters in both Rivers State and the Federal Capital Territory.

He maintained that securing substantial electoral support for the President in the two areas was his primary political responsibility ahead of the 2027 general elections.

“And let me say, I pledged by the grace of God, Rivers and FCT will vote massively for Bola Ahmed Tinubu. That is my joy. I have only two assignments, Rivers and FCT,” Wike declared.

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Nigeria Is Better Now’ – Onanuga Presents Evidence In Defence Of Tinubu

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The Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, has rejected claims that Nigeria’s economic situation has deteriorated since Tinubu assumed office in 2023.....KINDLY READ THE FULL STORY HERE▶

Onanuga also criticised some television presenters for questioning reports of declining inflation and suggesting that the country had recorded little or no improvement under the current administration.

The presidential aide accused the journalists of advancing the opposition’s narrative, insisting that food prices had fallen and that Nigeria had made considerable economic progress under Tinubu’s leadership.

reports that Onanuga made these remarks in a statement posted on X early Friday in response to an interview aired on Arise News.

He challenged the television presenters to visit markets and verify the changes in food prices, particularly the cost of rice, which he claimed had dropped significantly.

According to him, a bag of rice that previously sold for as much as ₦120,000 now costs less than ₦50,000, with prices in his hometown reportedly falling to ₦45,000.

“Food prices are crashing. The favourite rice that at a time was selling for N120k a bag has crashed below N50k. In my hometown, a bag now sells for N45K,” he said.

Onanuga also defended inflation figures released by the National Bureau of Statistics (NBS), arguing that the data supported the position that inflation was declining in Nigeria.

He faulted those who maintained that the Tinubu administration had achieved little or nothing, insisting that the government had recorded substantial progress.

The presidential aide further pointed to the support of 33 state governors for Tinubu, arguing that their backing demonstrated confidence in the President’s leadership.

He said critics continued to repeat what he described as an outdated narrative while questioning official figures showing a slowdown in inflation.

Onanuga also cited Nigeria’s foreign reserves, which he claimed were approaching $60 billion, as evidence of the country’s improving economic position.

He noted that Nigerians could now use their naira-denominated bank cards for transactions abroad, describing this as an improvement compared with the situation before Tinubu became President.

The presidential aide added that business owners could now access foreign exchange to import raw materials and equipment needed for their operations.

Addressing concerns about foreign investment, Onanuga rejected suggestions by some television presenters that investors returning to Nigeria were primarily portfolio investors.

He argued that foreign direct investors were also entering the country, bringing capital into the economy and creating employment opportunities.

Onanuga further claimed that Nigerians accounted for nearly 90 per cent of participation in the stock market, using this as another point in his defence of the administration’s economic policies.

He attributed the reported improvements to the economic foundation laid by Tinubu’s reforms, expressing confidence that the President would lead Nigeria towards greater shared prosperity.

“These facts are clear to anyone not blinded by partisanship and hatred for the leader who has laid a solid foundation for the economy and is poised to take the nation to a higher level of shared prosperity,” Onanuga added.

He urged Nigerians to look beyond political divisions and acknowledge what he described as the administration’s economic achievements.

However, the economic indicators and claims cited by the presidential aide represent his assessment of the administration’s performance and do not, on their own, establish how the changes have affected every Nigerian household or business.

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