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Nigerians to start enjoying benefits of lower global crude prices — PETROAN

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The Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, has stated that Nigerians will begin to enjoy the benefits of the recent drop in global crude oil prices, following the announcement by Dangote Refinery of a reduction in the price of premium motor spirit.

PETROAN spokesperson Joseph Obele made this known in a statement on Thursday.

His statement comes barely 24 hours after the Nigerian government reaffirmed its commitment to the implementation of the naira-for-crude sale agreement.

Subsequently, on Thursday, Dangote Refinery reduced its ex-depot price of petrol by N13, from N880 to N867 per litre, as communicated to marketers.

Reacting to the development, PETROAN said, “The global crude oil price continues to fluctuate. PETROAN is optimistic that the Naira-for-Crude policy will help to insulate the Nigerian economy from the volatility of the global market.

“By reducing the country’s dependence on foreign exchange and promoting local refining, the policy is expected to lead to greater stability in the downstream sector and more affordable fuel prices for consumers.

“With the Federal Executive Council’s directive to fully implement the policy, PETROAN is hopeful that the benefits of lower global crude prices will soon be felt by Nigerian consumers.”

Meanwhile, checks by Ekwutosblog on Thursday night revealed that retail prices of petrol remained unchanged at N950 and N975 per litre in Lagos and Abuja, respectively.

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Higher fertilizer cost threatenening wet season farming – Jigawa farmers cry out

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Farmers in Jigawa State have expressed fear of inability to go back to farm due to the higher cost of fertilizer and losses recorded during dry season farming.

Some of the rice farmers disclosed this in an interview with Ekwutosblog ahead of their preparation for the wet season farming.

They explained that many farmers will not go back to farm for the wet season farming because they are unable to recover from the huge losses suffered during the last dry season farming.

 

According to Malam Musa, a farmer, “without government intervention, it will be difficult for most of us to return to our farms for the rainy season.

“The fertilizer we used to buy at N40,000 is now being sold at N60,000 and what we used to buy at N35,000 is now being sold at cost of over N45,000.

“We are therefore appealing to Governor Umar Namadi to come to our aid for timely provision of agricultural inputs,” he said.

They also urged the state government to use the previous section and distribution procedure used under the Fadama office to ensure that fertiliser and other inputs reached genuine farmers at the grassroots.

Another farmer, named Auwalu Kaci said, “It’s only through Fadama lll office our farmers at the grassroots level get access to the government’s inputs directly without any hindrance.”

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Buhari showed little respect for my grandfather – Shehu Shagari’s grandson

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Nura Muhammad Mahe, a grandson of Nigeria’s former President Shehu Shagari, has accused late former president Muhammadu Buhari of showing little respect for his grandfather even in death.
Mahe said this in a statement on Wednesday, publicly expressing dissatisfaction with the way the late Buhari handled Shagari’s death.

He, however, lauded President Bola Tinubu for what he described as a show of honour and statesmanship in organising a state burial for Buhari, who died on Sunday and was laid to rest on Tuesday in Daura with full military honours.

He described Tinubu’s attendance at the funeral as a symbol of national unity and dignity.

“This is in stark contrast to how the late President Shehu Shagari was treated during the administration of Muhammadu Buhari,” Mahe said.

According to him, when his grandfather died in 2018, Buhari neither attended the funeral nor arranged a state burial in his honour despite being in Nigeria at that time .

“Instead, a government delegation led by the then Secretary to the Government of the Federation, Boss Mustapha, who is notably a non-Muslim, was dispatched to represent him,” he said.

Mahe said the actions were a slight to Shagari’s legacy, stressing that the late leader deserved more recognition for his service as Nigeria’s first democratically elected Executive President.

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Military can defeat insurgency with locally made weapons – EIB boss, Echefu

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The Chairman and Managing Director of EIB Group, Dr. Bright Echefu, has said that the Nigerian military now has the capacity to defeat insurgency using weapons made in Nigeria.

He made this statement on Wednesday during a media tour of EIB Group’s facilities in the Federal Capital Territory (FCT), where journalists were shown locally produced drones, bombs, and other military equipment.

Dr. Echefu said Nigeria no longer needs foreign help to fight insecurity, as local companies are now producing the tools needed to defeat terrorists.

“Nigeria has the capacity right now to end this insurgency with the amount of local companies that are investing heavily,” he said.

He added that the Nigerian military is supporting local manufacturers through partnerships, protection, and direct purchases.

“The Nigerian military strongly supports local manufacturers through research collaboration, protection, and patronage,” he stated.

The Managing director noted that this partnership is helping Nigeria become more self-reliant in terms of defense.

Echefu explained that EIB Group is already helping by monitoring drone operations in many northern states, gathering intelligence to track terrorists hiding in forests.

“Our goal is to ensure that these terrorists are completely removed from our land,” he said.

According to him, with local support, the Nigerian Air Force now has the ability to maintain and service its fleet locally.

Dr. Echefu called on the government to continue supporting local companies and expand policies that help grow the defense sector.

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