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Aliko Dangote Reveals Naira for Crude Initiative Could Slash Foreign Exchange Demand by 40%
Aliko Dangote Reveals Naira for Crude Initiative Could Slash Foreign Exchange Demand by 40%....KINDLY READ THE FULL STORY HERE▶
Billionaire businessman Aliko Dangote has announced that the introduction of the naira for crude oil transactions will significantly reduce the demand for foreign exchange by 40 percent. This statement was made during the launch of petrol production at the Dangote refinery in Lagos.
In an interview with Arise TV, Dangote expressed gratitude to the Nigerian people and President Bola Tinubu’s administration for creating a conducive environment for business growth. “I want to salute the people of Nigeria and the government of President Bola Tinubu for creating the environment for us to thrive and also achieve this monumental task of providing energy for our people’s growth and prosperity,” he stated.
Dangote emphasized the importance of the new policy, saying, “Thank you to President Bola Tinubu for introducing the idea of Naira for crude and Naira for products. This initiative will stabilize the Naira and reduce the demand for dollars by 40 percent. Additionally, it addresses the issue of round-tripping in the currency market.”
The business mogul also highlighted the operational benefits of the refinery, noting that tracking loaded trucks would allow for more accurate computation of national fuel consumption. “With the refinery now operational, we can monitor the true consumption of Nigeria. We can track each loaded truck, and for some of our products, we can identify where they are and estimate consumption levels,” he explained.
In April, the Nigerian Federal Government announced that indigenous refineries could now purchase crude oil in either naira or dollars. This move comes alongside a report that Nigeria’s total crude oil and condensate reserves have increased to 37.5 billion barrels as of January 1, 2024, with a life index of 68.01 years.
The Dangote Refinery, once operating at full capacity, has the capability to process 650,000 barrels of oil daily, converting more than half of that output into petrol. This development is expected to enhance Nigeria’s energy sector and reduce reliance on imported fuels.
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“‘We’ve Lost Our Calendar’: First Lady Exposes The Exhausting Pressure Gripping The Presidency”.
First Lady Oluremi Tinubu has revealed that President Bola Tinubu is working tirelessly—forgoing weekends and holidays—to combat Nigeria’s insecurity. During a visit to Ekiti State, she assured traditional rulers that the administration is deeply committed to eradicating kidnapping, banditry, and violence. While acknowledging the frustration caused by these security challenges, the First Lady noted that the government is collaborating with international partners, including the United States, to neutralize those responsible for the unrest. She emphasized that while many tactical security efforts remain confidential, the President remains fully dedicated to restoring peace and safety for all Nigerians.....KINDLY READ THE FULL STORY HERE▶
During a recent engagement with traditional rulers in Ekiti State, First Lady Oluremi Tinubu stated that the President has abandoned his weekends to focus entirely on securing the nation. Addressing concerns over rising insecurity, she highlighted that the administration is working both internally and in partnership with foreign nations to dismantle criminal networks. The First Lady expressed optimism that Nigeria would overcome these trials, urged citizens to remain prayerful, and reaffirmed that the President is working around the clock to ensure the country’s safety.
“We no longer have Mondays or Sundays.” That is the reality inside the Presidency, according to First Lady Oluremi Tinubu. During a working visit to Ekiti State, she shared that President Bola Tinubu is operating on a 24/7 schedule to tackle the nation’s security crisis. Revealing that the government is partnering with global powers like the U.S. to root out non-Nigerian criminal elements, the First Lady reassured the public that significant, albeit private, efforts are underway to stamp out banditry and kidnapping. She called for national unity and prayer as the administration fights to secure the country.
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Bala Mohammed Speaks On Plan To Dump APM For PDP, Emerge Jonathan’s Running Mate.
Bauchi State Governor, Bala Mohammed, has officially denied rumors regarding an alleged plan to exit the Allied Peoples Movement (APM) to rejoin the Peoples Democratic Party (PDP) for the 2027 election cycle. Furthermore, he has rejected claims that he is in line to serve as the vice-presidential running mate for former President Goodluck Jonathan.....KINDLY READ THE FULL STORY HERE▶
In a statement posted to X this past Sunday, the governor clarified that his primary political goal is to secure the Bauchi South Senatorial District seat as a candidate for the APM. He explicitly requested that the public ignore any contradictory information, labeling such claims as both inaccurate and purely speculative.
Origins of the Speculation This clarification from the governor follows public assertions made by Nuhu Sada, who previously ran as the Social Democratic Party (SDP) candidate for the Zaria Kewaye Constituency in the 2025 Kaduna State House of Assembly by-election. Sada had suggested that Governor Mohammed was preparing to defect to the PDP to join forces with former President Jonathan.
These rumors were further fueled by reports that a PDP faction, under the leadership of Tanimu Turaki, had declared Jonathan their consensus presidential candidate for the 2027 general elections—an action allegedly taken amidst security blockades and threats regarding their Abuja convention venue. Despite these developments within the PDP, Governor Mohammed maintains that his commitment remains squarely with the APM and his senatorial campaign.
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The Comeback? Elisha Abbo Emerges As Labour Party’s Governorship Hopeful.
Former Senator for Adamawa North, Elisha Abbo, has been officially ratified as the Labour Party’s consensus candidate for the Adamawa State governorship election. His endorsement by party stakeholders in Yola establishes him as the party’s official flagbearer, setting the stage for a highly competitive race.....KINDLY READ THE FULL STORY HERE▶
Abbo’s decision to join the Labour Party follows his exit from the African Democratic Congress (ADC), a move he attributed to internal friction caused by the party’s North-East Zonal Vice Chairman, Babachir Lawal. According to party leadership, his selection was the result of strategic consultations designed to bolster the Labour Party’s electoral prospects.
Political analysts suggest that Abbo’s candidacy may significantly shift the political environment in Adamawa, particularly given recent public discourse surrounding the All Progressives Congress (APC) candidate, Ahmed Galadima Aminu. Observers note that Abbo maintains a loyal support base among youth demographics and within sections of the Adamawa North region, which could play a pivotal role in the upcoming election.
A Career Defined by Ambition and Controversy Born on May 2, 1976, Abbo gained prominence in 2019 as one of Nigeria’s youngest senators. His political journey has been characterized by frequent transitions, having served under the Peoples Democratic Party (PDP) before moving to the APC in 2020, and later joining the ADC coalition in 2025.
Throughout his tenure, his career has faced intense scrutiny:
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Public Incidents: In 2019, he faced significant backlash following a viral video depicting a physical altercation at an Abuja shop, for which he later issued a public apology.
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Electoral Challenges: In October 2023, the Court of Appeal nullified his victory, naming PDP’s Amos Yohanna as the rightful winner of the Adamawa North senatorial seat.
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Legal Controversies: He was linked to criminal allegations in 2025, which he vehemently denied, characterizing the claims as a politically motivated attempt to damage his reputation.
Despite these challenges, Abbo remains a prominent and active figure, continuing to exert influence within the Adamawa political sphere.
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