ABUJA EARTH TREMOR: MINISTER DELE ALAKE CALLS FOR CALM, DIRECTS AGENCY TO REPORT UPDATES. (PHOTO).

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 ABUJA EARTH TREMOR: MINISTER DELE ALAKE CALLS FOR CALM, DIRECTS AGENCY TO REPORT UPDATES The minister of Solid Minerals Development, Dele Alake has directed the Nigerian Geological Survey Agency to provide hourly updates of the seismic developments around Abuja to him for regular review and possible escalation to other relevant agencies, Urging residents of the Federal Capital to go about their normal routine without anxiety. In a statement by the Special Assistant on Media, Lara Owoeye-Wise, the minister assures that proactive measures have been deployed to ensure the safety of residents and property. The minor earth tremor was noticed on Tuesday, August 4th at 11am in the Federal Capital Territory by the Nigerian Geological survey Agency.
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TINUBU OFFERS LIFELINE TO DANGOTE REFINERY, NNPC TO SELL CRUDE TO IT IN NAIRA. (PHOTO).

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  Tinubu offers lifeline to Dangote Refinery, NNPC to sell crude to it in Naira 


President Bola Tinubu has directed the Nigerian National Petroleum Company Limited to sell crude to Dangote Refinery and other upcoming refineries in Naira.


The Special Adviser to the President on Information and Publicity, Bayo Onanuga, made this known in a post via his official X handle on Monday.


Onanuga stated that the move, which is to ensure the stability of the pump price of refined fuel and the dollar-Naira exchange rate, was adopted by the Federal Executive Council today.


 Dangote Refinery, at the moment, requires 15 cargoes of crude, at a cost of $13.5 billion yearly. NNPC has committed to supply four.


However, the FEC has approved that the 450,000 barrels meant for domestic consumption be offered in Naira to Nigerian refineries, using the Dangote refinery as a pilot.


The statement added, “The exchange rate will be fixed for the duration of this transaction.


“Afreximbank and other settlement banks in Nigeria will facilitate the trade between Dangote and NNPC Limited. The game-changing intervention will eliminate the need for international letters of credit, further saving the country of dollar payments.”

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