WIKE TAKING LOANS FOR FCT WITHOUT NATIONAL ASSEMBLY APPROVAL – KINGIBE ALLEGES. (PHOTO).

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Wike taking loans for FCT without National Assembly approval – Kingibe alleges The senator representing the Federal Capital Territory, FCT, Ireti Kingibe, has alleged that the FCT Minister, Nyesom Wike, has been taking loans for the nation’s capital without the approval of the National Assembly. Kingibe made the allegation on Tuesday during an interview. She was discussing the FCT administration, the Abuja master plan and the oversight responsibilities of the National Assembly. According to her, records from the Debt Management Office, DMO, indicated that loans had been taken for the FCT between August 2023 and March 2026, despite Wike not appearing before the Senate to seek approval for such borrowing. “I am definitely saying Wike has been taking loans without the approval of the National Assembly. “I’m sorry to say, with all due respect to the Senate, of which I’m a member, we’re supposed to oversee him. “We’re supposed to approve, and I have brought to the attention of the leadershi...
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FG COMMENCE CRUDE OIL SALE TO DANGOTE REFINERY OCTOBER 1.(PHOTO).

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FG to commence crude oil sale to Dangote refinery October 1


The Federal Government has announced that the sale of crude oil to the Dangote refinery in naira will begin on October 1. This decision was reached during a meeting with the technical implementation committee led by Wale Edun, the minister of finance on Monday. 


At the meeting, the committee reviewed progress on key initiatives, including the upcoming commencement of Naira payments for crude oil sales to the Dangote Refinery starting October 1, 2024. Stakeholders such as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Central Bank of Nigeria (CBN), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the African Export-Import Bank (Afreximbank) have been assigned key roles to ensure smooth implementation.


The executive chairman of the Federal Inland Revenue Service (FIRS) and chairman of the technical subcommittee, Zacch Adedeji, confirmed that the first premium motor spirit (PMS) delivery from Dangote is expected next month under existing agreements.


The minister stressed the need for transparency and directed the technical subcommittee to finalize the details of the arrangement. The committee has also been tasked with preparing a report for President Bola Tinubu, confirming that his directives are on track for implementation from September.

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