PUTIN WOOS AFRICAN LEADERS AT SHOWCASE SUMMIT, SAYS RUSSIA IS BETTER PARTNER THAN 'COLONIAL' WEST. (PHOTO).

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 Putin woos African leaders at showcase summit, says Russia is better partner than 'colonial' West President Vladimir Putin told African leaders ​on Wednesday that Russia was their best partner, accusing what he cast as a colonial West of still trying ‌to exploit the continent's resources and using debt to hold back development, Reuters reported. The Kremlin chief was speaking at the third Russia-Africa Summit in Moscow, a two-day event attended by African leaders and government delegations from 48 countries, during which he will hold one-on-one talks with many of the 22 individual African leaders ​attending on everything from trade to security, arms deals and grain supplies. "Africa is increasingly asserting itself as one of the key players in the global economy and politics. However, the emergence of a multipolar world is, of ​course, no easy task; it faces resistance from countries that are not prepared to accept this reality: those who are accustomed to ​thinking i...
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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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