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Marketers Will Pay Naira for Dangote Fuel -IPMAN

Aliko Dangote Refined petroleum products from the $20bn Dangote Petroleum Refinery are to be sold in naira and not in the United States dollar as speculated in some quarters, oil marketers clarified on Monday. Dealers in the downstream oil sector also stated that the registration process for marketers at the refinery was still ongoing, as many operators had continued to register with the plant. It was further gathered that officials of the Nigerian Midstream and Downstream Petroleum Regulatory Authority were meeting with the management of the refinery to perfect the pricing template for products produced by the facility. On January 12, 2023, the Dangote Petroleum Refinery announced the commencement of production of Automotive Gas Oil, also known as diesel, and JetA1 or aviation fuel. The President, Dangote Group, Aliko Dangote, had in a statement issued by the firm, said, “We have started the production of diesel and aviation fuel, and the products will be in the market within this mon...
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President Buhari in another battle with NASS


President Buhari in another battle with NASS

President Muhammadu Buhari has again stirred up a cold war with members of the the National Assembly.The president  rejected the National Assembly’s approval for the refund of N488.7 billion to State Governments for projects they executed on behalf of the Federal Government.

President Buhari”s  decision  was communicated through a letter read by the President of the Senate, Senator Bukola Saraki, at plenary on Tuesday.

The president said he rejected the National Assembly’s approval because it violated the provisions of the Public Procurement Act, 2007.

He noted that whereas the Federal Executive Council approved a total of N487.8 billion for the purpose, the National Assembly jerked up the figure to N488.7 billion.

He said the amount approved by the lawmakers was N890 million higher than that approved by FEC.

The president noted  that the amount approved by the lawmakers for each of the 21 states was higher than that approved by FEC for each of them, except for Adamawa, Jigawa, Kano and Niger States.

The President therofere advised the Senate to note that the Public Procurement Act 2007 empowers the Bureau of Public Procurement to approve vendors for contract sums.

Meanwhile, President Buhari has told the lawmakers that the federal government will proceed with the implementation of the reimbursement on certain grounds.

First, he said where the amount approved by the national assembly is the same as the amount approved by FEC the jointly approved amounts would be refunded.

He identified the states in this category as Adamawa, Jigawa, Kano and Niger.

Second, the president said where the amount approved by the National Assembly was higher than the amount approved by FEC, the amount approved by FEC would be paid.



The benefiting states on this are Akwa Ibom, Anambra, Ebonyi, Benue, Edo, Ekiti, Enugu, Gombe, Imo, Kwara, Lagos, Ondo, Ogun, Osun, Oyo, Plateau and Zamfara States.

He said the four states (Bauchi, Delta, Kogi and Taraba) excluded in the NASS approval would not be refunded until their consideration by the lawmakers.

The President decision might just be another war between the Executives and the Legislators.

(Breaking Times News Nigeria)
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