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Here’s the Cause of Tension, Conflict, According to Buhari

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President Muhammadu Buhari on Saturday in Dead Sea, Jordan, urged world leaders to work towards narrowing gaps in social and economic opportunities for citizens as panacea to rising conflicts across the globe.

A statement by Mr Femi Adesina, the President’s Special Adviser on Media and Publicity, in Abuja on Saturday, said President Buhari stated this at the World Economic Forum on Middle East and North Africa.

The President, who honoured an invitation by King Abdullah II bin Al-Hussein of Jordan, attributed the Boko Haram terrorism in Nigeria to lack of socio-economic inclusion.

According to President Buhari, rising opportunities of prosperity for some people while others struggle to survive triggers tension and conflict.

He said, “It is at this point that we must ask ourselves how we, as a region, got to this point. The answer, at least in the case of Nigeria, is the lack of social and economic inclusion.

As Nigeria celebrated being the largest economy in Africa and one of the fastest growing economies in the world, Nigerians were migrating in droves through harsh desert conditions and across treacherous seas to seek what they believe would be a better life in Europe.

“I strongly believe that lack of social and economic inclusion was the root cause of many challenges we are experiencing.’’

The founder and Executive Chairman of the World Economic Forum, Prof. Klaus Schwab, who congratulated President Buhari for his re-election for a second term, said discussions at the forum would focus on new ideas, entrepreneurship, innovation, environment, peace and reconciliation.

(NAN)

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FG Dismisses Dangote Petroleum As Inferior, Says Refinery Not Yet Licenced, Not Completed

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By Eric Elezuo

A Federal Government of Nigeria petroleum regulatory agency, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), has dismissed petroleum products from the Dangote Refinery as inferior, in the guise of those f4om Watersmith and Aradel, making a case for superiority of imported ones.

The revelation was made by the Chief Executive Officer of NMDPRA, Mr. Farouk Ahmed, while responding to questions from a section of the press, a video of which is trending online, adding that the refinery is only 45% completed, and yet to be licenced for operation by the Nigerian government.

Earlier, the Vice President of Dangote Industries Limited, Devakumar Edwin, had alleged that most fuel products imported into Nigeria are substandard, blaming International Oil Companies (IOCs) of frustrating Dangote’s quest for production.

In the short video, which lasted a little over a minute, Mr. Ahmed debunked theories attached to the functionality of the Dangote Refinery, saying it does not have the capacity to ‘feed’ the nation of its petroleum needs, as it stands. He however, refuted arguments that some elements within the oil and gas sector were trying to scuttle the Dangote Refinery.

A transcript of the NMDPRA’s boss short response is as follows:

“It about concerns of supply of petroleum products acros the nationwide, and the claim that we are trying to scuttle Dangote. That is not so. Dangote Refinery is still in the pre-commissioning stage. It has not been licenced yet. We haven’t licenced them yet. I think they are about 45 per cent completed, or completion rather.

“We cannot rely on one refinery to feed the nation, because Dangote is requesting that we suspend or stop imports, especially of AGO and DPK, and direct all marketers to his refinery. That is not good for the nation in terms of energy security, and it is not good for the market because of the monopoly.

“Dangote Refinery, as well as some modular refineries like Watersmith Refinery and Aradel Refinery, are producing between 650 and 1,200 PPM. Therefore, in terms of quality, their products are inferior to imported ones,” he stated.

It will be recalled that only last Sunday, the President, Dangote Industries Limited, Aliko Dangote, while hosting senior journalists from across various media concerns, revealed that the Nigeria National Petroleum Company Limited (NNPCL) owns only 7.2% of stakes in the refinery, and not 20 percent as widely circulated. He also revealed that the refinery is set to begin fuel supply in August 2024.

Many stakeholders and respondents have alleged that there’s no love lost between the government of the day and the Dangote Group, and that explains the hiccup situation surrounding the takeoff the $19 billion refinery.

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JAMB Denies Setting Admission Cut-off Mark, Says No Such Thing

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The Joint Admission and Matriculation Board (JAMB), has denied setting cut-off marks for admissions into higher institutions across the country.

In a statement posted on its official X account on Thursday, the Board dismissed reports that it had set 140 as cut-off marks for universities, and 100 for polytechnics respectively.

“There’s no such thing as ‘cut-off mark’ in admission process to tertiary institutions in Nigeria, what’s obtainable is minimum tolerable score determinable by individual institutions,” it said.

The denial comes just one day after it was widely reported, that the Board had pegged 140 as a cut-off mark for admission into universities, and 100 as the minimum cut-off point mark for admission into polytechnics and colleges of education.

The statement attributed to JAMB Registrar, Professor Ishaq Oloyede, quoted him as announcing the development in Abuja at the 2024 Policy meeting of the Board.

The meeting had in attendance the Minister of Education, Tahir Mamman, vice-chancellors, rectors and registrars of higher institutions and other stakeholders.

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We Communicated Our Stand to Dangote, NNPC Reacts to Owning Only 7.2% Stake in Refinery

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The Nigerian National Petroleum Company (NNPC) Limited has explained why it holds only a 7.2% equity in the $19 billion Dangote Refinery, instead of the widely speculated 20%. 

A statement released on Sunday by Femi Soneye, the Chief Corporate Communications Officer of NNPCL, addressed the company’s recent decision regarding its investment in the Dangote Refinery.  

Soneye said that the decision to reduce their investment was carefully considered and communicated several months ago to Aliko Dangote. 

Dangote mentioned to newsmen on Sunday that NNPC no longer holds a 20% stake in the refinery.  

He explained that this change occurred because NNPCL failed to pay the balance of their share, which was due in June. 

Reacting, NNPC said:  

“NNPC Limited periodically assesses its investment portfolio to ensure alignment with the company’s strategic goals.

“The decision to cap its equity participation at the paid-up sum was made and communicated to Dangote Refinery several months ago,” NNPC said.

Nairametrics

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