The President of Dangote Group, Alhaji Aliko Dangote, has called on the Federal Government to fully eliminate fuel subsidies, stating that doing so would reveal the true level of petrol consumption in Nigeria.

He also confirmed the ownership of two upstream oil blocks, with production expected to commence next month. The business mogul, however, said he will likely not invest heavily in Nigeria’s upstream sector.

“Well, our upstream, you know, is not big. We have two oil blocks which we have and we are starting production this October,” Dangote added.

Dangote, during a 26-minute interview with Bloomberg Television, expressed that fuel production from his $20bn refinery in Lagos, which has the capacity to refine 650,000 barrels of crude oil daily, will help ease pressure on the naira.

The billionaire said, “Subsidy is a very sensitive issue. Once you are subsidising something, people will bloat the price, and the government will end up paying what they are not supposed to be paying. It is the right time to get rid of subsidies.”

He further explained that the refinery would expose Nigeria’s actual fuel consumption, which has been widely debated.

“Some say, it’s less. But right now, if you look at it by us producing, everything can be counted,” he said. “So everything can be accounted for, particularly for most of the trucks or ships that will come to load from us. We are going to put a tracker on them to be sure they are going to take the oil within Nigeria, and that, I think, can help the government save quite a lot of money. I think it is the right time, you know, to remove the subsidy.”

The businessman also noted how ending petrol imports would ease currency pressures, especially as petroleum products account for about 40% of Nigeria’s foreign exchange expenditure. Dangote noted that producing and selling fuel locally could help stabilise the naira, which has lost about 70% of its value against the dollar.

Dangote added, “The removal of subsidies is totally dependent on the government, not on us. We cannot change the price, but I think the government will have to give up something for something. So I think, at the end of the day, this subsidy will have to go.”

President Bola Tinubu initially removed the petrol subsidy in May 2023 but reinstated it after inflation spiked, sparking public protests. In September, the fuel price cap was eased, yet it remains below market levels.

On the refinery’s sales, Dangote revealed that his company started supplying gasoline to the Nigerian National Petroleum Company Limited (NNPCL) for domestic sale on September 15, explaining that NNPCL purchased the fuel at a lower cost than its imported stock.

“There wasn’t really a disagreement, per se,” he said, regarding a pricing dispute with NNPCL. “What they are supposed to do is to sell at a basket price, or if they want to remove the subsidy, they can announce that they will remove it, and everybody will adjust.”

He also added that there is an ongoing discussion with NNPCL regarding crude oil sales starting in October, noting that crude will be priced and sold in naira to help reduce currency pressures.

“We will sell the crude in naira after we have bought in naira. So now we are currently working out with the committee that the exchange rate is going to be priced. It is going to be normal pricing, you know, if crude is at $80, we will pay that price at an agreed exchange rate.

“And then we will also sell in the domestic market. What that will do is that it’s going to remove 40 per cent pressure on the naira. So because see, the petroleum products consume about 40 per cent of foreign exchange, so you know, and then, you know, it’s like you have 40 per cent of demand being taken out so that can actually stabilise the naira and even if they subsidise, they would know what they are paying for.

“The deal is to give the government something that they want. It’s also a win-win situation for all and it would benefit the country.

“Currently, discussions are still ongoing to determine the details of the agreement. They are working out something that I think would be a win-win between us and the NNPCL.

“The agreement is very robust. Well, first of all, we would have energy security where they will give us crude. For example, in October, they’re going to give us 12 million barrels, which is on average, about 390,000 barrels a day, which will sell both gasoline, diesel, and aviation fuel.”

Meanwhile, the Federal Government announced plans to allocate land for building a park for fuel tankers to prevent over 3,000 trucks from damaging newly constructed roads leading to the Dangote refinery. This was disclosed by the Minister of Works, Dave Umahi, after a Federal Executive Council meeting in Abuja.

The council also approved several major road projects, including the rehabilitation of roads in Katsina, Ebonyi, Abia, Imo, and Rivers states.

The Federal Executive Council (FEC) approved the construction of 14 roads and bridges, which were badly affected by floods, in Ekiti State, Adamawa, Kebbi and Enugu States.

Works Minister David Unahi said this while addressing State House correspondents after the FEC meeting.

He said the others are in Cross River State, Ondo State, Osun State, Ebonyi, Abia and Imo states.

He said the roads were awarded, in addition to a contract for the repair and rehabilitation of Gamboru Bridge along Gambor-Ngala/Kala-Balge Road in Bornu.

The minister said FEC also approved a new contract for the rehabilitation of Maraban-Kankara/Funtua Road in Katsina State and the construction of 258-kilometer three-lane carriageway, a component of the 1,000 Sokoto/Badagry Super-highway, Section 2, Phase 2A.

Likewise, he said FEC approved the contract for the construction and dualisation of Afikpo-Uturu-Okigwe Road in Ebonyi, Abia and Imo States (Section 2).

He said FEC similarly approved the contract for Bodo-Bonny Road in Rivers, to be executed by Julius Berger.

“FEC approved an additional N80 billion to complete that project, bringing the total cost to N280 billion.

“The next is the Third Mainland Bridge, which was executed under emergency work,” he said.

He said at the time the present government assumed office, the Third Mainland Bridge was a nightmare.

“The deck had pavement differential of over one foot; that was causing a lot of accidents and hold up, and constituting dead load to the Third Mainland Bridge.

“So, that has been done and it also extended to Falamo and Queens Drive. It came with solar light, CCTV cameras and relief stations, to eliminate road blockage,” he said.

He explained that when he came on board, Julius Berger sought to review the entire projects.

“Don’t forget that the initial cost of the projects was N155 billion and the past administration reviewed it to N797 billion.

“Berger insisted that the reviewed contract sum should to N1.5 trillion. We didn’t have that money and the Coordinating Minister for the economy and myself went through the road and had strategic meeting with Berger,” said Umahi.

He said he eventually sought the approval of the President to break the projects into three so that two sections could be done on tax credit and Julius Berger could do one.

“So, the first section is 38 kilometer, it has not been brought to Council. It’s to be done with on concrete.

“The second section is to be done by Berger and that is 82 kilometers by two, and it’s to be done with asphalt that they have been working with and the third section is, which is just 17 kilometers is to be done on concrete,” he said.

He said FEC approved that of Julius Berger for a total contract sum of N740 billion. However, he said the other two were not presented for approval.

“If you remove approximately N400 billion paid by the last administration, then what is left is about N340 billion. That is what the contract sum for the 164 kilometer will be and that’s what FEC approved today,” Umahi said.

The minister said the service lane on Lekki Deep Seaport road was approved for construction by FEC.

Lastly, he said he discovered that over 3,000 of fuel trucks queuing to the lift fuel at Dangote Refinery were all parked on the newly constructed Lekki-Calabar coastal highway.

“Technically and by design, the roads were never built for static loads, and so it has a lot of effects,” he said.

He said FEC approved that the Federal Government land in the area should be concessioned , so that concessioners could build a park.

“It’s a park that will be tolled, so that all the trucks can safely parked over there and the pavement of such a park is quite different from the pavement of the road,” said Umahi.

“Every day, Nigeria loses about 2,300 under-five children and 145 women of childbearing age. Most of these deaths are occurring in northern Nigeria.”

The Executive Director of the National Primary Health Care Development Agency (NPHCDA), Dr Muyi Aina, disclosed this yesterday, in Abuja at the ongoing two-day engagement on vaccination and maternal and child health with religious leaders from northern Nigeria.

At the event organised by the Sultan Foundation for Peace and Development, with support from NPHCDA, he noted that too many women still die from complications related to pregnancy and childbirth, and too many children fail to reach their fifth birthday due to preventable diseases.

According to the NPHCDA boss, Nigeria has recorded 70 cases of circulating variant Poliovirus 2 from 46 local councils across 14 northern states.

The meeting was a gathering of distinguished religious leaders, both Christians and Muslims, to discuss critical issues affecting vaccination, maternal and child health in Nigeria.

He said: “Nigeria is witnessing intense transmission of the circulating variant poliovirus type 2, with 70 cVPV2 from 46 local councils across 14 Northern states. This is an indication of continuous transmission of the virus due to low routine immunisation, and refusal of vaccines during polio campaigns.

“This must change. We must ensure that every woman has access to antenatal care, every pregnancy is delivered by trained and skilled midwives and that every child completes their routine immunisation, according to the national schedule, and gets vaccinated every time vaccination teams visit their homes. Together, we must work to create a system that ensures no mother or child is left behind.”

Aina urged the religious leaders to make a renewed commitment to the health of the people and communities.

Similarly, the Country Representative, World Health Organisation (WHO), Dr Walter Mulombo, commended the Sultan of Sokoto, the Emir of Argungu, and the religious leaders for their steadfastness in the fight to stop the transmission of cVPV2 in communities, strengthening routine immunisation and reducing morbidity and mortality from vaccine-preventable diseases.

Meanwhile, the Sultan of Sokoto, Saad Abubakar, emphasised the importance of collective action in addressing the country’s challenges.

“The Sultan Foundation’s work exemplifies the power of collaboration. Established to promote sustainable development and social cohesion, the foundation made significant strides in addressing health, education, and economic empowerment.

“By partnering organisations like United Nations Children’s Fund (UNICEF), Bill Gates Foundation, and other stakeholders, the foundation demonstrates the potential for collective impact,” he said.

The Kogi State House of Assembly has called for the immediate removal of the Chairman of the Economic and Financial Crimes Commission, (EFCC), Ola Olukoyede, over his unprofessional handling of the case against the immediate past governor of the state, Yahaya Bello.

The legislators, during plenary in Lokoja, the state capital, on Monday, condemned what they described as the EFCC operatives’ unprovoked attack on the Kogi State Government Lodge, saying it was an attack on the Governor of Kogi State, Ahmed Usman Ododo, and the entire people of the state.

The lawmakers accused the EFCC of an assassination attempt on the former governor and the incumbent, stressing that the persecution of the former governor had gone on for too long and must stop.

This followed a motion of urgent public importance moved by Hon. Akus Lawal, representing Ankpa 1 State Constituency. Hon Jacob Olawunmi, Ijumu State Constituency, seconded the motion.

Akus said the EFCC was out to humiliate and possibly kill the present and former governors. His colleagues all supported this.

Abu Jibril of Ajaokuta State specifically said the EFCC boss should be prosecuted for allegedly attempting to kill the governor. He called on the President to remove him immediately.

According to him, the EFCC’s conduct shows that the chairman is incapable of leading a supposed impartial agency like the EFCC.

“The Chairman has shown incompetence that warrants his removal,” he said.

The Majority Leader of the House of Assembly, Suleiman AbdulRazak, alleged that officials of the EFCC were begging the former governor to let them pretend as if he was arrested.

He said it was an embarrassing act, which showed that the anti-graft agency was using a script written by some political enemies of the former governor.

The lawmaker therefore said the President should be notified of the assassination attempt on the present and former governors, adding that the whole drama was a show to embarrass the former governor.

He concluded that, on the fateful night, a coup attempt was committed at the Kogi State Governor’s Lodge and called on the President to immediately remove the EFCC Chairman to save the nation from further embarrassment.

The lawmakers concluded that the EFCC had an agenda different from the fight against corruption, which had been revealed by the way the Commission approached the issue of arrest, this, they said, must be condemned by all well-meaning Nigerians.

Yahaya Umar, representing Omala State Constituency said, “The unlawful conducts of the EFCC show that the intention of the chairman is not to arrest former Governor Yahaya Bello, but to ridicule the state.

“The chronology of how the event happened shows that the problem of the chairman is not with the offences being alleged, but that they want to disgrace the defendant and Kogi State in general.”

Another meeting of the Federal Executive Council (FEC) took place in Abuja on Monday with no fewer than 16 decisions taken.

The following are the highlights, according to the Special Adviser to the President on Information & Strategy, Bayo Onanuga.

1. The meeting reviewed the flooding in some parts of the country, especially the one that destroyed almost 50 per cent of Maiduguri in Borno State.

The meeting backed the President’s idea of setting up a Disaster Relief Fund to be funded by a portion of the revenue accruing to the Federation account. Funds will also be solicited from the private sector.

2. The meeting resolved to set up a technical committee to conduct integrity tests on Alau Dam and other dams countrywide.
3. The Council also approved the Economic Stabilisation Bills, which embody the recommendations of the Presidential Committee on Tax and Fiscal Policy Reforms set up last year by President Tinubu.

The bills seek to amend the income tax laws, promote the export of goods and services, reform the exchange rate regime and unlock foreign exchange liquidity.

One of the bills offers tax relief to companies that generate incremental employment. Another offers personal income relief to people in private and public employment, from N200,000 to N400,000.

Another bill seeks federal and state collaboration to suspend certain taxes on small businesses and vulnerable populations.

Among the taxes to be axed are road haulage levies, business premise registration levies, livestock levies, and market taxes and levies.

The Economic Stabilisation Bills, with the Council’s approval, will now be transmitted to the National Assembly for passage.

4. The Council approved a contract to build a 258 km 3-lane carriageway with continuous reinforced concrete pavement in Kebbi and Sokoto states.

The stretch is part of the 1000km superhighway from Illela, Sokoto State, to Badagry, Lagos State. The section awarded starts from Silame in Sokoto state and terminates at Buya Town in Kebbi.

5. The council approved the revised estimated contract cost for constructing Bodo-Bonny Road with bridges across the Opobo Channel in Rivers State.

The contract was awarded in 2014 for N120 billion and revised in 2021 to N199, 923,638,963.87. The FEC approved another increase to N280 billion, with an additional completion period of 12 months.

6. The council approved the rescoping and downward review of the contract to rehabilitate the Abuja-Kaduna-Zaria-Kano dual carriageway at a lower cost of N740.79 billion.

Julius Berger’s job now has a completion period of 14 months and includes the provision of solar lights.

7. Messrs CCECC Nigeria Limited was awarded two road contracts, including bridges in Kogi and Cross River, at a total cost of N133.4 billion.

They are the construction of Cross River to Oferekpe Road and rehabilitating Kabba (Kogi State), Iyamoye-Omuo-Ikole-Ifaki-Ado Ekiti Road.

8. Messrs BDT International Limited was awarded the contract to repair the Gamboru Bridge along Gamboru-Ngala-Kala, Balde Road in Borno State. The cost is N3.2 billion, and completion will take 24 months.
9. Messrs CCECC Nigeria will repair the damaged loops and ramps of the Third Mainland Bridge superstructure and rehab Adeniji-Falomo Roads for N42 billion. Completion will take six months.
10. The council approved the N158 billion contract to construct service lanes for the Lekki Deep Sea Port through Epe to Shagamu-Benin Expressway.

Dangote Industries will be awarded the contract under the Federal Government Road Infrastructure Development Fund and Refurbishment Investment Tax Credit Scheme.

11. The council approved the contract for the dualisation of Afikpo-Uturu-Okigwe Road in Ebonyi, Abia and Imo states.

The road will be financed under the Federal Government Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme.

12. The councils also approved contracts for the repair of 14 bridges, roads, and flooded sections of Federal Highways nationwide.
13. The council approved at least seven memos brought by the FCT Ministry. Among them was the contract for the building of Judges Quarters in Katampe.

Also approved was the contract to construct an access road from Ring Road 1 by N16 Shehu Shagari Way to Judges Quarters.

14. The council approved the contract for building an access road from Arterial Road N11 in Mabushi District to Judges Quarters within Cadstral Zone B07 in Katampe.
15. The council approved three roads in FCT satellite towns: the Pai-Gomani Road in Kuala Area Council, Aguma Palace-Radio Nigeria-New Market Road in Gwagwalada, and road upgrades in Bwari Area Council.
16. The council approved two memos presented by the Ministry of Information and National Orientation.

One memo deals with the restoration of dignity and standardisation of national symbols, such as the national flag, coat of arms , national anthem and national pledge.

Council approved that the first stanza of the National Anthem should be rendered at all official functions.

Meanwhile, the three stanzas should be for special occasions, such as `Independence Day, Democracy Day, Inauguration of the National Assembly, Children’s Day, Armed Forces Remembrance Day and Workers Day.

The Council approved adopting the third stanza of the New National Anthem as the National Prayer to replace the current National Prayer.

The second memo of the Ministry deals with the unveiling of the national values charter. The Council approved it.

Adamawa State Governor, Ahmadu Fintiri, has condemned the outcome of the Edo State governorship election, describing it as “shameful,” “rape,” and a threat to Nigeria’s democracy.

Fintiri’s statement comes after the Independent National Electoral Commission (INEC) declared Monday Okpebholo of the All Progressives Congress (APC) the winner of the September 21 poll.

Okpebholo, 54, secured 291,667 votes to defeat Asue Ighodalo of the Peoples Democratic Party (PDP) who got 247,274 and Olumide Akpata of the Labour Party (LP) who came a distant third in the race with 22,761 votes.

However, Fintiri, a member of PDP, alleged that the election was marred by irregularities, including vote-buying, disruption of collation processes, and suspicious results with more votes than accredited voters.

He also slammed APC’s national chairman, Abdullahi Umar Ganduje, stating “What’s truly shameful is APC’s national chairman flying into Edo with a private jet on election day, defying movement restrictions, while their Governors used armoured escorts to intimidate voters.”

Fintiri noted that democracy indeed is under attack and called on Nigerians to denounce what he described as a “rape of democracy.”

“I weep for Nigeria’s democracy after witnessing the shameful Edo Gubernatorial poll. The APC’s desperate attempts to discredit me by falsely claiming I announced results won’t distract from the real issue. I merely shared results from INEC’s Irev portal, as collated by INEC from the various Local Government Areas,” Fintiri said.

“What’s truly shameful is APC’s national chairman flying into Edo with a private jet on election day, defying movement restrictions, while their Governors used armoured escorts to intimidate voters.

“This blatant disregard for democratic norms is the real brigandage. Nigerians are outraged, slamming INEC for compromising and favouring APC. The reported vote-buying, disruption of collation processes, and suspicious results with more votes than accredited voters undermine trust in our democracy. Democracy indeed is under attack.

“We must condemn this rape of democracy and demand accountability. The world is watching, and Nigeria deserves better.”