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Naira-for-crude policy remains in place – Presidential Committee

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Technical Sub-Committee on the implementation of the Federal Government’s policy on domestic sales of crude oil and refined products in naira has dismissed reports that Naira-based crude oil supply arrangement with local refineries has been discontinued.

A statement signed by the Chairman of the committee, Zacch Adedeji said reports do not reflect the realities of the ongoing work under the Federal Executive Council Initiative on Domestic Sales of Crude Oil and Refined Products in Naira.

The statement said, “Our attention has been drawn to reports doing the rounds and suggesting that the naira-based crude oil supply arrangement with local refineries has been discontinued, forcing the domestic refineries to rely solely on international crude purchases.

“These reports do not reflect the realities of the ongoing work under the Federal Executive Council Initiative on Domestic Sales of Crude Oil and Refined Products in Naira.

“As the committee driving the implementation of this laudable initiative, we wish to provide an update on the Federal Executive Council initiative and confirm as follows:

“The Naira-Based Domestic Sales Framework Remains in Place

“The policy framework enabling the sale of crude oil in naira for domestic refining remains in force. The initiative was designed to ensure supply stability and optimize the utilisation of local refining capacity. There has been no decision at the policy level to discontinue this approach nor is it being considered. After implementing the policy for some months, evidence abounds that it is the right way to go and it will continue to help the economy.

“Local Refineries Have Not Been Excluded from Domestic Crude Supply

“The engagement process for crude oil supply to domestic refineries therefore remains in place by structured agreements, balancing factors such as availability, demand, and market conditions. There is no exclusion of local refineries from access to domestic crude. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is actively ensuring compliance with the Domestic Crude Oil Obligations provisions of the Petroleum Industry Act.

“The Initiative Supports Competitive Pricing and Market Efficiency

“The framework for domestic crude transactions is designed to promote a competitive and efficient pricing environment.

“The Committee Continues Its Work on Strengthening Implementation

“We remain committed to ensuring the efficient execution of this initiative in line with its core objectives – enhancing local refining, reducing foreign exchange exposure, and stabilising the domestic fuel supply,” the statement said.

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Tinubu’s Minister, Uche Nnaji Resigns Over Alleged Certificate Forgery

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Geoffrey Uche Nnaji, the Minister of Innovation, Science, and Technology has tendered his resignation.

He resigned following some allegations of certificate forgery against him.

President Bola Ahmed Tinubu’s media aide Bayo Onanuga who confirmed the resignation in a statement, said the president has accepted the Minister’s decision.

According to Onanuga, Tinubu has “accepted the resignation of Geoffrey Uche Nnaji, the Minister of Innovation, Science, and Technology, following some allegations against him.

“President Tinubu appointed Nnaji in August 2023.

“He resigned today in a letter thanking the President for allowing him to serve Nigeria.

“Nnaji said he has been a target of blackmail by political opponents.

“President Tinubu thanked him for his service and wished him well in future endeavours”.

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Biafra: Ojukwu told me first agitation was necessary, second not – Orji Kalu

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Abia North Senator, Orji Uzor Kalu, has revealed his meeting with the first Biafra agitator, late General Chukwuemeka Odumegu Ojukwu, during the last days of his life.

Speaking during an interview on Arise Television monitored by Ekwutosblog on Sunday, Uzor-Kalu said Ojukwu told him that the first Biafra agitation was necessary but second was not.

He also refuted the allegation that he was less Igbo than the people of the entire Southeast.

 

“I am full blooded Igbo. I was with late Ojukwu in the later days of his life, and his wife, Mrs Bianca can testify to this that I was always coming to the General, and the General was coming to my village to stay some days or weekends.

“And then Ojukwu told me that the first struggle for Biafra was necessary, that the second one is no longer necessary.

“Even if these boys want Biafra, who are you going to rule when you kill all the Igbos? When you stop all Igbos from doing businesses?

“When on Mondays, if you see people going out for business, you start pursuing them and killing them? I mean, it is not rational. It is not just nice.

“I thought with what happened to Nnamdi Kanu, these boys should come together in a table and say, how do we get peace to resolve this matter politically? And not still talking tough as they are trying to behave.

“So I think even if they want Biafra, they should drop their arms and go with their flags and demand for what they want and negotiate for it and talk for a referendum.

“Even the man that fought the civil war, the wife is saying the same thing I’m saying. Minister Bianca Ojukwu knows the thought of her husband, and nobody will believe on the destruction of Igbo land. Enough is enough.

“Let us stop destroying ourselves. Let us stop destroying our properties. Let us stop destroying what we have.

“Look, there is no more commerce in the entire Igbo land. How are we going to live? Things are difficult. Things are very bad for people living there. So how are we going to live? These are the issues,” he said.

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Nigerian Air Force Launches Coordinated Airstrikes Against Fleeing Coup Plotters in Benin Republic

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Nigeria has carried out a series of precision airstrikes against members of the failed military coup in the Benin Republic, neutralising several suspected plotters and destroying their escape vehicles.

 

The operation was executed on Sunday after the Nigerian Air Force (NAF), acting under a joint security arrangement with authorities in Cotonou, tracked the movement of key coup actors attempting to flee in armoured convoys. Intelligence reports had indicated that the fleeing soldiers were heading south toward coastal exit routes.

A senior security official confirmed the mission, saying it was “carefully coordinated with Benin’s leadership” to prevent the coup backers from regrouping and to support efforts to stabilize the country after the attempted takeover.

According to multiple security sources, the airstrikes—lasting approximately 30 minutes—targeted fast-moving convoys believed to be carrying loyalists of the coup leader, Lt. Col. Pascal Tigri. The fleeing soldiers reportedly departed the country’s interior in an effort to evade capture.

 

Residents in parts of Cotonou reported hearing loud explosions and seeing thick smoke rising from the outskirts, sparking speculation that foreign aircraft were involved in the crackdown on the mutineers.

 

The development was later confirmed by Agence France-Presse (AFP), which reported that Nigerian jets conducted the strikes in coordination with Beninese authorities working to contain the mutiny.

 

Speaking on the operation, Nigerian Air Force spokesperson Air Commodore Ehimen Ejodame said the mission was carried out “in line with ECOWAS protocols and the mandate of the ECOWAS Standby Force.”

 

Sources told POLITICS NIGERIA that the strikes successfully disabled multiple armoured vehicles and sealed off escape corridors identified by the fleeing troops. Although no official casualty figures have been released, security insiders disclosed that “a number of hostile elements” were eliminated.

“All sorties were flown with the consent of Beninese authorities and adhered strictly to international rules of engagement,” another official said, noting that planners were careful to avoid civilian areas and minimise collateral damage.

 

The air operation followed the unsuccessful attempt by Lt. Col. Tigri and his faction—known as the Military Committee for Refoundation—to dissolve state institutions and seize power. Loyalist forces in Benin swiftly regained control, forcing several of the coup backers to attempt a southern retreat before they were intercepted.

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