Politics

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

Published

11 months ago

March 10, 2025

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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Politics

Nyesom Wike wishes de@th on any politician supporting ‘’betrayers’

Published

1 hour ago

February 7, 2026

Ekwutos Blog

FCT Minister and former governor of Rivers state, Nyesom Wike, has said that any senator, House of Representatives Member, Minister, or governor who supports betrayers will suffer betrayal in their lives and that such person will join their creator when they experience their own betrayal.

Wike who is currently in a running battle with his godson and incumbent governor of Rivers state, Sim Fubara, said this while speaking at a public function in the state today February 6.

Speaking to the crowd at the public function, Wike said

‘’Wether you are a Senator, House of Reps member, a Minister or Governor, and you support betrayers, people will continue to betray you in life. You see people who betray and support them, betrayal is your portion! Betrayal is your portion! and that day you will not have mouth to say anything and there you will collapse and there you will go and they will announce such person has died because that is the seed you have planted because whatever you plant, you reap and so since you are sowing betrayal, betrayal will always follow you.

Watch! Every governor who is doing his second term and has ambition to put a successor and is supporting betrayals, you will never survive it. Betrayal will follow you. From the day your successor comes in. My own took so many months, your own will start immediately the person has been inaugurated. That is what the gods of the land have told me to tell all of you’’

https://www.instagram.com/reel/DUdaCp1jD01/?igsh=MWVnZXoyaGNmOGJ5dA==

Politics

How Buhari shocked me 6 months into his administration – Oyegun

Published

6 hours ago

February 7, 2026

Ekwutos Blog

Chairman, Policy Manifesto Committee of the African Democratic Congress, ADC, John Odigie-Oyegun, says former president Muhammadu Buhari gave him the shock of his life, six months into his administration as Nigeria’s leader.

Oyegun made this disclosure on Friday when he featured in an interview on Arise Television’s ‘Prime Time’.

He revealed that as National Chairman of the All Progressives Congress, APC, he went to tell Buhari that he was not delivering his election promises to Nigerians but that the late president told him he would not rule with strictness, but rather wanted to show Nigerians that he is a true civilian president.

The former APC National Chairman lamented that it became business as usual, from there.

“I was national chairman of the APC. Six months or less into our assuming office, fairly alarmed, I went to the late President Buhari for a one-on-one talk. I said Mr President, this is not what the people were expecting. They wanted a bit of the old president Buhari.

“And he explained to me, Mr Chairman, I have learned my lesson. I was shocked. And don’t forget at that time, a lot of prominent Nigerians took their holidays abroad, just to be sure and see what this new sheriff in town will be.

“Buhari told me he wants to now show the people that he’s a true civilian president in Agbada. And by the time we finished the conversation, I said Oh God, we are finished. Because, if he’s not ready to be strict, what’s the point?

“Weeks later, months later, years later, I was proven correct. And of course, it became business as usual, only that they are a new set of tenants in Aso Rock. That was a shocker,” he said.

Politics

Electoral Reform: Dino alleges senate’s plot to rig 2027 election

Published

1 day ago

February 6, 2026

Ekwutos Blog

Former lawmaker, Dino Melaye Esq, has raised concerns over the Senate’s reported rejection of the electronic transmission of election results.

The move, according to Melaye, is a clear endorsement of election rigging and an indication of a sinister plan to rig the 2027 elections.

In a statement on Friday, the former lawmaker criticized the Senate’s decision, stating that it undermines the credibility of the electoral process.

The African Democratic Congress, ADC chieftain, also stated that the move opens the door for electoral manipulation and fraud.

He further warned that the rejection of electronic transmission of results is a step backwards for democracy in Nigeria.

Melaye called on lawmakers and citizens to stand up against “this blatant attempt to undermine the will of the people and ensure that future elections are free, fair, and transparent”.