Skip to main content

Northern youths want FG to sell crude oil to Dangote in naira

One of the youths leaders says selling crude oil to the refinery in foreign currency would subject the masses to untold hardship.

Northern Youth Ambassadors, a coalition of youth groups in the 19 northern states have made a call to the Federal Government on the supply of crude oil to the Dangote Petroleum Refinery.

Speaking at a press briefing in Abuja on Wednesday, January 24, 2024, the group’s secretary, Muktar Abdurrahman Auwal, urged President Bola Tinubu not to sell crude oil to the refinery in dollars.

According to him, selling crude oil to the refinery in foreign currency would subject the masses to untold hardship because of the vulnerability of the naira.

Auwal said, “Selling crude oil to DPR in foreign currency is going to be counterproductive as far as the Nigerian masses are concerned. The vulnerability of the naira due to foreign exchange has caused untold hardship to the majority of Nigerians.

“Inflation has remained high largely due to higher cost of fuel. Thus, the price of goods and services today has prevented the common man from enjoying the dividend of democracy in Nigeria.

Meanwhile, the Governor of the Central Bank of Nigeria, Yemi Cardoso, has assured Nigerians that the pump price of petroleum would fall this year as government-owned and private refineries set to commence operations.

Cardoso made this known while speaking at the launch of the Nigerian Economic Summit Group (NESG) 2024 Macroeconomic Outlook Report in Lagos on Wednesday.

The CBN governor’s remarks come barely two weeks after Dangote Refinery commenced production of diesel and aviation fuel, with petrol production set to follow suit.

Also, the government-owned Port Harcourt refinery is expected to begin production in due time, after the complementation of the first phase of rehabilitation in December 2023.

ridoola.blogspot.com.ng

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Okpebholo suspends A-G & LG Chair under 3 months over finance dealings

The Edo Government has announced the suspension of Samson Osagie , its Attorney-General and Commissioner for Justice, and Damian Lawani , chairman of the Local Government Service Commission. Mr Musa Ikhilor , Secretary to the State Government (SSG) announced the suspension in a statement in Benin on Thursday morning. ALSO READ: Kano Govt suspend 2 school principals for alleged absenteeism, negligence Ikhilor said the two-state top officials were suspended over allegations of “grave official and financial interactions”. Okpebholo suspends Edo Attorney-General and LG Service Commission Chairman According to him, the suspension, which takes immediate effect, is pending the conclusion of an investigation into the allegations. The SSG said; It is hereby announced for the information of the general public that Gov. Monday Okpebholo has approved the suspension from office of the Chairman of Edo Local Government Service Commission, Damian Lawani and Commissioner for Justice, Samson Os...
Post a Comment
Read more

List of America's one-term presidents & why they were not re-elected

U.S. President Joe Biden becomes the most recent entrant in a list of president who served for only one term. U.S. President Joe Biden announced that he would not be seeking re-election for a second term in the November 5, 2024 elections. Biden, in a statement said that he would be focused on completing his remaining term, endorsing his Vice President Kamala Harris as his most preferred nominee for the Democratic Party to take on former President Donald Trump. Joe Biden endorses Kamala Harris as Democrats' candidate after withdrawing from race [X:@JoeBiden] Biden now joins a list of former U.S. Presidents that only served for one term. John Adams (1797-1801) The second president of the United States, John Adams was a Founding Father who faced significant challenges during his presidency, including conflicts with political adversaries and foreign nations. His support for the Alien and Sedition Acts, perceived as a violation of civil liberties, contributed to his unpopulari...
Post a Comment
Read more

Tinubu appoints MKO Abiola's son, Jamiu as SSA on Linguistics & Foreign Matters

President Bola Tinubu has appointed Jamiu Abiola as the Senior Special Assistant to the President on Linguistics and Foreign Matters. The appointee is one of the children of the late Chief Moshood Kolawole Abiola , the winner of the 1993 presidential election annulled by General Ibrahim Babangida . According to a statement by Segun Imohiosen , the Director of Information and Public Relations, Office of the Secretary to the Government of the Federation on Wednesday, November 27, 2024, Jamiu's appointment took effect from November 14, 2024. Imohiosen said the appointment aligns with the provisions of the Certain Political and Judicial Office Holders (Salaries and Allowances, etc) Act 2008, as amended. Until his recent deployment, the appointee served as the Special Assistant to the President of Special Duties in the office of the Vice President. Tinubu tasked Jamiu to work closely with the Federal Ministry of Foreign Affairs and bring his wealth of experience to bear in his new ...
Post a Comment
Read more