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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...

UN Agency Removes Cannabis From Strictest Drug Category



The U.N. Commission on Narcotic Drugs voted Wednesday to remove cannabis and cannabis resin from a category of the world’s most dangerous drugs, which could impact the global medical marijuana industry.

The Vienna-based U.N. agency said in a statement that it had voted 27-25, with one abstention, to follow the World Health Organization’s recommendation to remove cannabis and cannabis resin from Schedule IV of the 1961 Convention on Narcotic Drugs, where it was listed with heroin and several other opioids.

The drugs that are on Schedule IV are a subset of those on Schedule I of the convention, which already requires the highest levels of international control. The agency voted to leave cannabis and cannabis resin on the list of Schedule I drugs, which also include cocaine, Fentanyl, morphine, Methadone, opium and oxycodone, the opiate painkiller sold as OxyContin,



Wednesday’s vote therefore does not clear U.N. member nations to legalize marijuana under the international drug control system. Canada and Uruguay have legalized the sale and use of cannabis for recreational purposes, but many countries around the world have decriminalized marijuana possession.

The schedules weigh a drug’s medical utility versus the possible harm that it might cause, and experts say that taking cannabis off the strictest schedule could lead, however, to the loosening of international controls on medical marijuana.

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