The seven major oil marketers in Nigeria have gained approval from the Dangote Petroleum Refinery to distribute refined petroleum products from the $20 billion facility. Dealers from the Major Oil Marketers Association of Nigeria (MOMAN) confirmed their registration with the refinery, expressing readiness to commence distribution once commercial terms are finalized.
According to the President of the Dangote Group, Aliko Dangote, the refinery has started producing Automotive Gas Oil (diesel) and JetA1 (aviation fuel), with products expected to hit the market within the month, pending regulatory approvals.
The major marketers, including 11 Plc, Conoil Plc, Ardova Plc, MRS Oil Nigeria Plc, OVH Energy Marketing Limited, Total Nigeria Plc, and NNPC Retail, have completed registration with the refinery, setting the stage for purchasing and distribution.
Clement Isong, the Executive Secretary/CEO of MOMAN, stated, “All MOMAN members have registered with Dangote Petroleum Refinery to become marketers of its products.” He emphasized that major marketers would have the products in their stations as soon as they are available for sale.
The refinery, located in Lagos and inaugurated by former President Muhammadu Buhari in May 2023, has received six million barrels of crude oil and commenced production of diesel and aviation fuel. The facility, with a capacity of 650,000 barrels per day, is a crucial step in Nigeria’s quest for self-sufficiency in petroleum product refining.
Isong explained, “We started registration last year. As soon as they say they are ready, we will pick the products. Also, as soon as the commercial terms are set, my members will pick.”
However, Isong remained uncertain about the pricing policy, stating, “I don’t know what the market price will be, but I know that with my international experience in the economics of petroleum, nobody does this business to make a loss.”
The President of IPMAN, Abubakar Maigandi, confirmed plans for a meeting with Dangote refinery management to discuss loading modalities and product pricing. He assured that independent marketers would determine product costs only after loading commences.
President of PETROAN, Billy Gillis-Harry, anticipates a marginal drop in product prices due to reduced logistics costs with domestic crude use. He acknowledged PETROAN’s ongoing discussions with Dangote refinery for supply and distribution arrangements.
While the exact reduction in fuel prices remains uncertain, stakeholders express optimism about the positive impact of Dangote refinery’s production on product availability, employment opportunities, and a potential drop in prices for diesel and aviation fuel.
He began to beat her. Shocked by the unexpected behaviour, she reported him to her pastor, expecting the pastor “to pray and cast out the demon” in her husband.
But the pastor instead advised her to return to her parents’ house, warning that the abuse would continue. It did, but she stayed with the hope that he would change.
This was the best intervention the church could provide for her because it lacked resources or guidelines to help members in such relationships. This is the fate of one of victims of gender-based violence like many others out there, who declined that name be used in print. “The violence and abuse left me devastated and depressed that I even contemplated suicide” she stated.
Remi Johnson, a broadcast journalist, speaking on gender-based violence and the declining voices of women in the FCT said: “Some institutional norms that tends to make women enter their shell or become unnecessarily quiet are societal stigmas/ premonitions, bullying of subordinates by superiors of opposite sex in the office environment, religious perceptions on the need for women to be submissive.
“For instance, some cultures believe that women should not speak where men are speaking. This for me is a stereotype and barriers that every woman needs to break, to become free.”.
What is Gender-based violence (GBV), in the first instance? by definition is violence directed against a person because of that person’s gender or violence that affects persons of a particular gender disproportionately.
Violence against women is understood as a violation of human rights and a form of discrimination against women and shall mean all acts of gender-based violence that result in, or are likely to result in physical harm, sexual harm, psychological, or economic harm or suffering to women.
It can include violence against women, domestic violence against women, men or children living in the same domestic unit. Although women and girls are the main victims of GBV, it also causes severe harm to families and communities.
Violence against women is an invisible and ageless pandemic that impacts the lives of those who experience it but also affects their families and communities.
Physical harm results in injuries, distress and health problems, and may even lead to death in certain cases. Typical forms of physical violence are beating, strangling, pushing, and the use of weapons.
Sexual harm includes unconsented sexual acts, attempts to obtain a sexual act, acts to traffic, or acts otherwise directed against a person’s sexuality without the person’s consent.
Psychological harm includes psychologically abusive behaviours, such as controlling, coercion, economic violence, and blackmail.
Socio economic harm involves the principle of equal treatment of men and women in matters of employment and occupation. The principle of equal treatment between men and women in the access to and supply of goods and services. The principle of equal treatment between men and women engaged in an activity in a self-employed capacity.
In the Federal Capital Territory, scourge of GBV is statistically proved to be high, the Federal Capital Territory’s Mandate Secretary for Women Affairs, Mrs. Adedayo Laniyi, recently during a meeting with some stakeholders ahead of activities for a 16-day Activism against GBV, disclosed that 2,344 cases of gender-based violence have so far been recorded in the FCT in 2023.
She said, “10 days ago, the number of reported cases of GBV in the FCT was less than 2,000, but just in the last count on Wednesday, November 22, 2023, the number surged to 2,344 reported cases.”
She explained that the FCT wanted to use the National Dashboard of GBV to create awareness on the underreporting and state of crisis in the communities and six area councils.
She added, “We are a cosmopolitan and as well as a very interesting indigenous community, and in the palaces of our royal fathers they have cases every day, some are so challenging that even how to bring them to the fore for the police to intervene is often challenging.
“So now, the ingenuity of the Department of the FCT Gender Based Violence Focal Person was to create this engagement and let them see that this is not good enough, that if we trigger consciousness within you, then as mothers in those communities, you will do something.
“For me, it also became a trigger and a clear dashboard for my inaugural assignment.”
In the same vein, National Agency for the Prohibition of Trafficking in Person, (NAPTIP), has noted with dismay the rising cases of spousal abuse in the Federal Capital Territory, (FCT) making close to half of the reported cases of abuse and other related cases of violence.
Director General of the Agency, Professor Fatima Waziri-Azia, Said, “In 2022, we received 1, 342 reported cases of violence and abuse through our 24-hour call center and others, and from January to June we have already received 623 reported cases and the highest number of reported cases.
“In 2022, the highest number of reported cases received were on spousal abuse, fast forward to 2023 in six months, the highest number of reports received is still spousal abuse so that tells us that it is a very big problem within the family.
“For the FCT, there is heightened awareness regarding these issues of violence, people are better informed, and they know what is acceptable and what is not within the ambit of the law and the general effect of all of this is the increased reportage of cases of violence.
“This generally does not mean an increase in crime, but it signifies an increase in public trust in NAPTIP as an institution and that bad behaviour is no longer tolerated.
According to her, “The retreat is to create a platform for prosecutors and judges to share unique experiences in the trial and prosecution of sexual and gender-based violence. I hope all the prosecuting counsels here will take advantage of this privileged opportunity to listen and learn from my Lords on how to carry on in the courtroom.
“In 2022 we secured four convictions in the FCT and a landmark conviction, one in Sokoto of rape and the other in Sokoto where the perpetrator bagged 21 years imprisonment without the option of fine.”
The Minister of Women Affairs, Uju Kennedy-Ohaneye, at a recent briefing in Abuja said, “If we have a mobile court, it will help as we go for our advocacy against SGBV. We have been advocating, and spending money, to no avail.
She disclosed that the reforms targets, “When victims report, police will come in for arrest, we will take the victim straight to the hospital to confirm and then the mobile courts come in to ensure justice is served.”
Just like government agencies, non-governmental organization like the Open Society Initiative for West Africa (OSIWA) and Gender Strategy Advancement International (GSAi) should hailed for consistently fighting against gender-based violence against women.
The chief operating officer at Facebook and former Google executive, Sandberg in her book ‘Lean In’ celebrated as a feminist manifesto, shares her own experiences as well as those of other women in high corporate positions, encouraging women to “lean in” and claim their seat at the table. Instead of simply bemoaning the current state of affairs, she gives concrete advice on how women can break the limiting patterns they face in the working world.
According to her: “Don’t check out of your career early just because you’re planning to have kids, find a partner who is willing to support your career, forget the unrealistic concept of “having it all,” and start taking more risks. Both men and women will find invaluable lessons in leadership that will help you maneuver your future career.”
A chieftain of the opposition party, the Peoples Democratic Party (PDP) Daniel Bwala, on Wednesday, said he is committed to supporting the administration of President Bola Tinubu, even if that requires him to defect to the All Progressives Congress.
“I told him today, I am committing to play my part to support your administration, and I have no apologies to anybody,” Bwala told State House correspondents after closed-door talks with the President at the Aso Rock Villa, Abuja.
“APC is a party. President Bola Tinubu is my motivation; if supporting him will take me to APC, so be it,” he stated when asked if he would defect to the APC.
On January 2, 2024, Bwala, a staunch critic of the governing APC and the Tinubu administration, said opposition political parties must form a strong coalition if they would successfully wrestle power from the governing APC in the 2027 general elections.
Bwala, a guest on Channels Television’s Politics Today, said that without a coalition of opposition parties, President Tinubu would spend eight years in office.
“Without a coalition of political parties, Tinubu is going to spend the next eight years. That one is for sure.
“The truth of the matter is that there will be a coalition of political parties that will be very strong. This is a fact that I know.
“The coalition that is coming will swallow some of the elements that are creating the problems in the various political parties,” he said.
He commended the President’s suspension of the Minister of Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu, saying, “Some of his (Tinubu’s) Ministers that were allegedly reported to have committed infractions, instead of protecting them, he asked that the law should have its course and suspended somebody without wasting time. That, to me, is impressive because it’s about the people.”
Referring to Tuesday’s announcement of a 60 per cent slash in travel entourages for the Presidency and MDAs, Bwala remarked, “There has been this outcry that the government is bloated. Yesterday, he introduced a policy that reduced the cost of governance and today, he told me it is just the beginning.”
The legal practitioner said the President assured him that more cost-cutting measures are underway to reduce the cost of governance.
“What have we been talking about as citizens is that if you don’t have a personal grudge against someone…if it is a policy issue.
“What I’m saying apart from today that I’m talking here is that you all need to visit my Twitter page. In the last few days, I have been expressing my surprise and appreciation to the President for the decisions he is making. So, this is not about political party. And you need to know that, like I said, I was with him before I left. And I was doggedly committed to him.
“I told him today that I am committing to play my part to support your administration, and I have no apologies to anybody,” he explained.
The Federal Government of Nigeria is earmarking N450bn for power interventions in 2024, as revealed by the budget analysis of the Nigerian Bulk Electricity Trading Company. This substantial allocation, listed under the company’s capital expenditure, highlights the government’s commitment to addressing challenges within the power sector.
The Nigerian Bulk Electricity Trading Company’s total expenditure for 2024 is projected to be N454.81bn, with allocations across various categories. Notably, N2.44bn is allocated for personnel costs, N2.36bn for other recurrent costs, N580m for general travel and transport, N15m for utilities, N110m for materials and supplies, N210.75m for general maintenance services, N34m for other services, N60m for fuel and lubricants, N40m for financial charges, N576m for miscellaneous, and N736.51m for supplementary overhead.
The significant portion of this budget is directed towards the ‘FGN Power Intervention Fund,’ emphasizing the government’s focus on addressing challenges and enhancing the power sector’s performance. This allocation comes in the wake of consistent government interventions over the years to bolster the power sector.
As of May 2022, the Federal Government’s intervention fund to electricity distribution companies had reached N2.9trn, representing the total funding extended to the sector since its privatization in 2013. Previous interventions include the approval of N701bn as Power Assurance Guarantee in 2017 and an additional N600bn announced in 2019.
Despite these financial injections, the power sector has faced challenges, including grid collapses. In response, the House of Representatives, as of October 2023, expressed its intention to probe all financial interventions in the power sector over the past decade, covering investments totaling over $1.25bn.
The Lagos Chamber of Commerce and Industry, in its New Year statement, emphasized the need to bring private sector investment into the transmission segment of the power sector. This recommendation aims to enhance technical and financial capacity, contributing to a well-functioning sector that can power economic growth.
Following a sluggish performance in 2023, global trade is anticipated to rebound, projecting a growth of 2.3% in 2024, aligning with the anticipated global output expansion, according to the World Bank’s latest Global Economic Prospects report.
In 2023, global trade in goods and services exhibited minimal growth, estimated at 0.2%, marking the slowest expansion outside global recessions in the past 50 years. Goods trade contracted, primarily influenced by declines in key advanced economies and a deceleration in Emerging Market and Developing Economies (EMDEs). This contraction marked the first sustained decline in goods trade outside a global recession in the past two decades.
The report indicates a normalization of trade patterns, with goods trade expected to resume expansion. However, the contribution of services to total trade growth is projected to decrease, reverting to patterns observed before the pandemic. Despite this, the responsiveness of global trade to global output is expected to remain lower than pre-pandemic levels in the near term, attributed to subdued investment growth.
Global tourist arrivals are forecasted to return to pre-pandemic levels in 2024, although recovery may lag in countries where reopening was delayed. The global trade growth forecast for 2024 has been revised down by 0.5 percentage points since June, influenced by weaker-than-expected growth in China and global investment. Consequently, the projected trade recovery for 2021-24 is considered the weakest following a global recession in the past half-century.
The World Bank’s projection aligns with the National Bureau of Statistics’ data on Nigeria’s total trade in the third quarter of 2023, standing at N18,804.29bn. Exports and imports increased significantly compared to the previous quarter and the corresponding quarter in 2022.
Despite the anticipated rebound in global trade, the World Bank notes a slowdown in overall global growth for the third consecutive year, projecting a decrease from 2.6% in the previous year to 2.4% in 2024. Developing economies are expected to grow at 3.9%, over one percentage point below the previous decade’s average, with low-income countries forecasted to grow at 5.5%, slightly weaker than previously expected.
The Nasarawa State Police Command has launched an investigation into the theft of a newborn baby, delivered through Caesarean Section at the Dalhatu Araf Specialist Hospital in Lafia. The incident, which occurred on Tuesday, January 9, 2024, saw a yet-to-be-identified stranger stealing the baby boy a few hours after his birth.
Commissioner of Police, Umar Shehu Nadada, confirmed during a press briefing in Lafia that three suspects had been arrested in connection with the baby theft. Suleiman Abdullahi, the father of the baby, reported the incident to the A Division Police Station, detailing that his brother’s wife, who was assisting in caring for the newborn, entrusted the child to an unknown woman who later disappeared with the baby.
Commissioner Nadada assured the public that the investigation, currently underway at the State Criminal Investigation Department, is not believed to be connected to ritualistic activities. He stated, “The outcome of the investigation will be communicated to journalists in due time.”
The mother of the one-day-old baby, Wosilat Suleiman, expressed distress over the loss, narrating that her relative introduced the unknown woman before leaving to retrieve a charger. The woman claimed she wanted to bathe the baby but vanished with him.
In response to the incident, Dr. Mohammed Salihu, the Acting Head of Obstetrics and Gynaecology Department at the hospital, assured that this was the first occurrence of such an incident in the facility. He mentioned ongoing collaboration with the police, including the arrest of the baby’s mother’s relatives and questioning of hospital staff, to identify the suspect.
Dr. Salihu further indicated that the hospital’s management would review CCTV footage to aid in identifying and apprehending the individual responsible for the theft. The distraught mother pleaded for assistance from relevant authorities in finding her baby, emphasizing the emotional pain caused by the loss.
In a widening investigation, the Economic and Financial Crimes Commission (EFCC) intensifies its scrutiny of the Ministry of Humanitarian Affairs and Poverty Alleviation, with top officials facing questioning. Simultaneously, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) successfully recovers N50bn, preventing its potential embezzlement.
The funds, initially earmarked for vulnerable citizens during the tenure of former Minister Sadiya Umar-Farouq, were intercepted by the ICPC between July and August 2023. Notably, the recovered amount was directed to the Central Bank of Nigeria, preventing an illicit transfer into private accounts.
An anonymous government source reveals, “The funds were recovered during the transition between former President Muhammadu Buhari and the tenure of President Bola Tinubu. President Tinubu, upon appointing the suspended Minister of Humanitarian Affairs, Betta Edu, mandated the refund to the ministry as part of the Infrastructure Support Fund for states and the Federal Capital Territory, aiming to alleviate the impact of fuel subsidy removal.”
Substantiating the interception, an insider discloses, “During the naira scarcity between late 2022 and 2023, the ICPC, under Prof Bolaji Owasanoye, blocked and recovered N50bn from the Ministry of Humanitarian Affairs. The investigation revealed attempts to divert the funds into private accounts during a period without an active minister, prompting immediate intervention.”
In a parallel development, EFCC detectives question numerous senior civil servants from the ministry, extracting valuable information crucial to unveiling financial malfeasance. Suspended Minister Betta Edu, former Minister Sadiya Umar-Farouq, and Halima Shehu, the suspended National Coordinator of the National Social Investment Programme, are also subjected to investigative sessions.
Edu faces scrutiny for allegedly authorizing a N585m transfer into a private account, while Umar-Farouq is under investigation for alleged N37bn money laundering. Shehu is questioned regarding the alleged movement of N44bn NSIP funds into unauthorized accounts.
Responding to the accusations, Edu’s Media Assistant contends the N585m payment was intended for vulnerable groups. The Accountant-General of the Federation, Dr. Oluwatoyin Madein, denies honoring the payment request into a private account, emphasizing that ministries operate as self-accounting entities.
In the wake of these revelations, political parties, including the Peoples Democratic Party and Labour Party, urge broader investigations into corruption allegations across various ministries, emphasizing the need to scrutinize civil servants’ activities. The calls for an all-encompassing probe highlight concerns about corruption within the government system and the importance of accountability.
As investigations continue, stakeholders, including the Centre for Anti-Corruption and Open Leadership, stress the necessity of examining not only political appointees but also permanent secretaries and directors involved in procurement processes. This push for comprehensive scrutiny aims to address systemic issues and restore credibility within ministries, departments, and agencies.
The Nigerian naira has experienced a significant depreciation, losing 26.36% of its value against the US dollar at the official Investor and Exporter window of the foreign exchange market. This comes despite the Central Bank of Nigeria (CBN) announcing the clearance of $2 billion as part of its backlog obligations.
The CBN, in a bid to alleviate pressure on the country’s exchange rate, revealed on Monday that it had disbursed $61.64 million to foreign airlines as part of matured foreign exchange obligations. Acting Director of Corporate Communications, Hakama Sidi Alia, emphasized that these payments aimed to settle all remaining valid forward transactions.
However, since the announcement, the naira has traded above ₦1000 against the dollar, closing at ₦1082.32/$ on Wednesday, according to data from the FMDQ Securities Exchange. This marks a 0.66% increase from Tuesday’s closing rate of ₦1089.51/$.
Despite renewed efforts to boost liquidity in the foreign exchange market, including a $2.25 billion foreign exchange support facility received by the Federal Government from the African Import-Export Bank, the naira’s volatility persists. Dr. Ayo Teriba, CEO of Economic Associates, attributes the naira’s decline to inadequate foreign exchange supply, emphasizing that government efforts to attract investments must materialize to address the shortage.
Prof. Adeola Adenikinju, President of the Nigerian Economic Society, anticipates increased stability in 2024. He cites factors such as the local refineries’ operation, improved revenue generation, and increased oil production as potential contributors to a more stable naira. However, Financial Derivatives Company warns that the naira is likely to remain under pressure in 2024, potentially falling towards ₦1,350/$ before a rebound in the second quarter.
In a significant development, the Central Bank of Nigeria (CBN) has taken immediate action to dismiss the entire Board of Directors of Polaris, Titan, Union, and Keystone Banks. This decision was made during a meeting led by CBN Governor Yemi Cardoso on Wednesday in Abuja.
Sources within the CBN indicate that an official statement officially dissolving the boards will be released shortly. The decision is believed to be a response to the recommendation of the Special Investigator, Jim Obazee, appointed by President Bola Tinubu in July 2023 to investigate the activities of the CBN and other relevant establishments.
The special investigation report accused the former CBN governor, Godwin Emefiele, of acquiring banks for personal gain through proxies. It alleged that Emefiele utilized proxies to acquire Union Bank of Nigeria for Titan Trust Bank Limited and Keystone Bank without providing evidence of payment.
As a result of these findings, the report recommended that the Federal Government reverse the sale of the banks and take over their operations. Further details are expected to be communicated officially in the upcoming statement from the CBN.
Billionaire businessman, Femi Otedola, demonstrated his commitment to security in Lagos on Wednesday by donating N1 billion to the Lagos State Security Trust Fund. The generous donation was presented by Otedola’s daughter, Teniola, and received by Governor Babajide Sanwo-Olu at the Lagos House, Marina.
Jubril Gawat, the Senior Special Assistant on Media and Publicity to the Lagos State Governor, confirmed the donation in a post on X on Wednesday. Gawat highlighted Otedola’s consistent support for the Lagos State Security Trust Fund, commending the businessman as a patriotic citizen and ambassador of Lagos State.
Governor Sanwo-Olu, while unveiling a newly-built police station in the Alimosho Local Government Area in December, emphasized the importance of the Lagos State Security Trust Fund. The fund was established to support underfunded federal security agencies operating in the state, the Lagos Neighbourhood Safety Corps, and the Lagos Constabularies.
Otedola’s substantial contribution further underscores the collaboration between the private sector and the government in enhancing security measures within Lagos State.
