The production of petrol at the Dangote Refinery is reshaping global trade flows, with significant effects on the European market, according to reports from the Organization of the Petroleum Exporting Countries (OPEC). With a capacity of 650,000 barrels per day, the refinery commenced operations in January last year and began producing Premium Motor Spirit (PMS) in September. This development has notably reduced Nigeria’s dependency on imported petroleum products from Europe. The refinery’s output has freed up significant gasoline volumes in the international market, creating ripple effects across supply chains. ALSO READ Revamping Hides and Skin in Sokoto: A Gateway to…
Author: Abdoulaye Kay
Six Nigerians have been named among the 400 recipients of the Presidential Early Career Award for Scientists and Engineers (PECASE), the highest honour bestowed by the United States government on exceptional young scientists and engineers. The awardees include Azeez Butali, a professor at the University of Iowa; Ijeoma Opara, an associate professor at Yale University; and Eno Ebong, an associate professor at Northeastern University. Others are Oluwasanmi Koyejo, an assistant professor at Stanford University; Abidemi Ajiboye, an associate professor at Case Western Reserve University; and Oluwatomi Akinlolu, a postdoctoral researcher at Lawrence Livermore National Laboratory. The PECASE, created in 1996 by former…
The Nigerian Governors Forum (NGF) has unanimously opposed any increase in the Value Added Tax (VAT) rate. This is contained in their communiqué after the governors’ high-level meeting with the Presidential Tax Reform Committee on Thursday in Abuja. The governors emphasised the importance of maintaining economic stability and safeguarding the welfare of citizens during ongoing fiscal reforms. In a significant move to address inequities in resource allocation, the forum approved a revised VAT sharing formula indicating 50% based on equality, 30% on derivation and 20% based on population. This formula is aimed at promoting fairness and balance in resource distribution…
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has announced the launch of two transformative initiatives, the Document Flow (DocFlow) System and the Ministries, Departments, and Agencies (MDAs) Naira Payment Solution. The launch, held at the CBN Head Office Abuja on Wednesday, January 15, 2025, is a continuation of the Bank’s digital revolution project tagged “Digital First”, which was flagged off by the Governor in December 2023 as one of his transformation initiatives. Speaking at the event, Mr. Cardoso described the DocFlow system as a groundbreaking solution designed to revolutionize the Bank’s document management processes by…
The Defence Headquarters (DHQ) has attributed the recent surge in terrorist activities in the Northeast and Northwest regions of Nigeria to an influx of foreign fighters reinforcing local terror groups. Speaking at a media briefing on Thursday in Abuja, the Director of Defence Media Operations, Maj.-Gen. Edward Buba, explained that foreign fighters from the Sahel region are bolstering the ranks of terrorists, creating a resurgence of attacks. “The resurgence in terrorist attacks can be linked to the influx of foreign fighters providing reinforcement for these terrorists,” Buba said. “Another contributing factor is the presence of local collaborators who form a…
The Air Component of Operation Hadin Kai (AC OPHK) has reaffirmed the ban on drone operations in the Northeast Theatre, covering Borno, Yobe, and Adamawa states, citing critical security and safety concerns. Air Commodore Umar Idris, the Air Component Commander of AC OPHK, stated in Maiduguri on Wednesday, highlighting the security risks posed by the proliferation of drones for domestic and commercial purposes in the region. He explained that the increasing use of drones by non-state actors and criminal elements for subversive activities, including attacks on military targets and Critical National Infrastructure (CNI), necessitated the ban. “Government agencies and private…
The Sokoto Zone of the Academic Staff Union of Universities (ASUU) has raised alarm over the proposed Nigeria Tax Bill 2024, alleging that the bill seeks to dismantle the Tertiary Education Trust Fund (TETFund) “through the back door.” During a press conference held at the NUJ Press Center in Sokoto on Wednesday, the zonal coordinator, Dr. Abubakar Sabo, criticized provisions in Section 59(3) of the proposed bill, which significantly alter TETFund’s funding structure. According to Dr. Sabo, the bill stipulates that only 50% of the Development Levy will be allocated to TETFund in 2025 and 2026, with the remainder distributed…
In a time when individuality often takes center stage, True Patriot is leading a movement to celebrate unity and pride in Nigeria through fashion. The brand seeks to reshape how Nigerians see themselves and how the world views Nigeria, combining style with a powerful message of patriotism. True Patriot isn’t just about what you wear—it’s about what you stand for. Each piece represents a belief in Nigeria’s greatness, a call for unity, and a shared commitment to building a brighter future. “When you wear the True Patriot brand, you’re making a statement,” the CEO, Olufolajimi Abegunde explains. “It’s a statement…
President Bola Tinubu on Wednesday, reassured a global audience of Nigeria’s commitment to partnering with other nations to create a resilient, equitable, and sustainable world. Speaking on the second day of the 2025 Abu Dhabi Sustainability Week, during a session titled “From Climate Imperatives into Economic Prosperity: Bridging Africa with the Global Energy Future,” Tinubu emphasized the importance of collective action in tackling global sustainability challenges. “The fight against climate change is not merely an environmental necessity but a global economic opportunity to reshape the trajectory of our continent and the global energy landscape,” he stated. He underscored the need…
Former Governor of Sokoto State, and Presidential candidate of the Democratic Peoples Party (DPP), Attahiru Dalhatu Bafarawa, has officially resigned from the Peoples Democratic Party (PDP). The resignation is contained in a resignation letter he personally signed on January 13, and addressed to the acting national chairman of the party. In the letter circulated on Tuesday, Bafarawa stated that his decision to resign was motivated by his “commitment to a new chapter of service that aligns with my vision of uplifting humanity through youth empowerment.” “I write to formally tender my resignation as a member of the Peoples Democratic Party…