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NNPCL’s ‘Dollars for Crude’ Policy a Direct Attack on Local Refineries – Centre

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The Centre for Energy Development and Economic Sustainability (CEDES) has strongly condemned the Nigerian National Petroleum Company Limited (NNPCL) over the recent Naira-for-Crude policy, warning that the move is a deliberate attempt to cripple local refineries and sustain Nigeria’s dependence on fuel imports.

In a statement issued in Abuja on Tuesday, March 25, 2025, Dr. Umar Sani, Executive Director of CEDES, accused the NNPCL of working against national interest by prioritizing foreign exchange gains over the survival of local refiners.

He noted that the Naira-for-Crude arrangement had ensured steady crude supply to Nigerian refineries while helping the government save on foreign exchange and reinvest in critical infrastructure.

“It is outrageous that the NNPCL, instead of strengthening local refining, has decided to sabotage it by imposing a dollars-for-crude system. This policy is designed to choke local refineries, making it impossible for them to access crude oil at reasonable rates. The ultimate goal is to force Nigeria back into total reliance on fuel imports, which benefits only a corrupt few,” Sani said.

“Under the Naira-for-Crude system, the NNPCL could no longer make its usual bogus claims of petrol imports to justify billions of dollars in subsidies. The policy ensured transparency, saved the government huge amounts in foreign exchange, and allowed for reinvestment in developmental infrastructure. But with this new move, we are back to a system where crude oil is sold in dollars, fueling corruption and economic instability,” he added.

CEDES warned that the NNPCL’s latest move could lead to higher fuel prices, petrol scarcity, worsening inflation, and further hardship for Nigerians.

The centre called on the federal government to immediately reverse the policy and uphold the Naira-for-Crude system to support local refining and economic stability.

“We demand that the government reinstate the Naira-for-Crude policy and stop this reckless sabotage of local refineries. The NNPCL must not be allowed to undermine Nigeria’s energy security and economic sovereignty,” Sani stated.

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FG Arraigns Kogi Central Senator Akpoti-Uduaghan Over Assassination Claim

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Senator Natasha Akpoti-Uduaghan was arraigned before the Federal Capital Territory (FCT) High Court in Abuja on Wednesday on a three-count charge of alleged defamation against Senate President Godswill Akpabio and former Kogi State Governor Yahaya Bello.

The senator, representing Kogi Central, pleaded not guilty and was granted bail in the sum of ₦50 million.

The court premises witnessed heightened security as the high-profile case unfolded, highlighting escalating tensions between key figures in Nigeria’s political elite.

The Federal Government, through the Director of Public Prosecutions, Mohammed Abubakar, filed the charges stemming from public statements made by Akpoti-Uduaghan during a Channels Television programme and a private phone call earlier this year.

She is accused of alleging that Akpabio and Bello conspired to assassinate her, disguising it as a local mob attack—an accusation the prosecution contends was defamatory and knowingly injurious to their reputations.

The charges, brought under Sections 391 and 392 of the Penal Code, are being closely watched, particularly given their political backdrop.

Akpoti-Uduaghan, who appeared in court at around 10:30 AM, had previously avoided arrest after the court declined the prosecution’s request for a warrant, citing improper service of court summons. A substituted service granted on June 16 enabled the case to proceed.

The case adds to a growing list of controversies involving Senate President Akpabio, who has consistently faced allegations since taking office.

In early 2025, Senator Akpoti-Uduaghan publicly accused Akpabio of sexual harassment, claiming her suspension from the Senate was a retaliatory act. Akpabio denied the allegations, calling them baseless and politically motivated.

Further controversy erupted after UK-based activist Dr Sandra Duru accused Akpabio of being linked to organ harvesting—a claim linked to the murder of Iniubong Umoren. The Umoren family dismissed the allegations, and no official investigation corroborated them. Dr Duru now features as a potential witness in the defamation trial.

Akpabio has also been entangled in electoral fraud claims and recent allegations of bribery involving the Rivers State emergency declaration—claims he has repeatedly denied.

His supporters argue the accusations are targeted attempts to discredit his leadership, while critics view them as part of a concerning pattern of alleged misconduct.

The trial of Senator Akpoti-Uduaghan is more than a courtroom affair; it reflects deeper questions of integrity and power within Nigeria’s political class.

With the country watching closely, the outcome of this legal battle could influence public trust in both the judiciary and the broader democratic process.

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COVEC Signs Agricultural Innovation Deals at CAETE 2025, Changsha

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At the ongoing China-Africa Economic and Trade Expo (CAETE) 2025 in China, the Niger State Special Agro-industrial Processing Zone (NS SAPZ) and the China Overseas Engineering Group (COVEC) signed agreements with nine leading agro-industrial processing companies.

The agreements formalize these companies’ readiness to co-locate within the NS SAPZ, focusing on agricultural value chains, including maize processing, soybean processing, rice production, wheat production, and power supply infrastructure.

What Niger State stands to benefit from this are:

  1. Generate employment opportunities, and
  2. Enhance the state’s agro-industrial capacity.
  3. Boosting food processing capabilities and power supply,
  4. The partnerships will also improve food security and long-term economic growth.
  5. Position Niger State as one of the leading hubs for agro-industrial development in West Africa.

The signing was witnessed by the Honourable Commissioner for Industry, Trade and Investmen, Hon. Aminu Suleman Takuma the Chairman of the NS SAPZ, Yomi Akopo

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3 Billion Dollar Refinery Fraud: Lawyers, CSOs Return to EFCC to Demand Arrest of Former NNPCL Boss, Mele Kyari

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A group of lawyers and concerned Nigerian youths have returned to the Economic and Financial Crimes Commission (EFCC) headquarters in Abuja to demand the immediate arrest and prosecution of Mallam Mele Kolo Kyari, former Group Chief Executive Officer of the Nigerian National Petroleum Corporation Limited (NNPCL).

The group, led by Barr Ojonugwa Benjamine Theophilus, submitted a petition to the EFCC on April 25, 2025, alleging that Kyari misappropriated billions of dollars during his tenure as NNPC boss.

However, 46 days after submitting the petition, the group claims that no concrete action has been taken by the EFCC.

“We are here today as a group of lawyers and concerned Nigerian youths to follow up on our earlier petition, with the above title, submitted and received by the commission on the 25th of April, 2025,” Theophilus said.

“It is now 46days since we submitted our petition which contained details of the billions of dollars that were allegedly misappropriated by Mele Kolo Kyari during his time as Group CEO of NNCL, and yet no concrete action or steps seems to have been taken by this commission to assuage the grievances of majority of Nigerians who demand accountability from public office holders.

“We are also chagrined that despite our well written petition, detailing allegations of misappropriation of funds, tax evasion, economic sabotage and abuse of office by the former NNPCL group CEO, the EFCC is yet to officially invite Mallam Mele Kolo Kyari for questioning.

“Nigeria belongs to all of us and we all have a stake in the growth and development of this country. While we appreciate the role the EFCC is playing and has continued to play in ridding this country of the fangs of corruption, we wish to demand the immediate arrest and diligent prosecution of Mallam Mele Kolo Kyari, to answer to the monumental economic and financial crimes he is alleged to have committed against the Nigerian state. “

The group therefore called on the EFCC to act swiftly to restore public trust and demonstrate its commitment to fighting corruption.

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