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Tinubu Meets Dangote, Cardoso Other Crude Oil/Products Sales In Naira Committee

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President Bola Tinubu is currently in a meeting with members of the crude oil and refined products sales in local currency implementation committee.

The committee was led by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, to the State House, Abuja for the meeting.

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Those attending the meeting include the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mr Mele Kyari; the Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji; and the Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso.

Also attending are the Authority’s Chief Executive (ACE) of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mallam Farouk Ahmed; the Commission Chief Executive (CCE) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe; as well as the President of Dangote Group, Alhaji Aliko Dangote.

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It was gathered that the ongoing meeting was scheduled for the committee to brief President Tinubu on the progress of the arrangement, which was improvised by the Tinubu administration to relieve foreign exchange pressure on the economy.

Recall that President Tinubu directed the NNPCL to commence sales of crude oil to Dangote Refinery and other local refiners on July 29 this year.

Details of briefings by the committee to the President are not available yet, however, it is believed the President Tinubu aims to keep abreast with developments in the industry.

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Announcing the introduction of the initiative at the end of a Federal Executive Council (FEC) meeting, Zacch Adedeji, Special Adviser to the President on Revenue, said the basic reason was to reduce foreign exchange pressure on the economy.

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“Today, at the Federal Executive Council, there was a memo by Mr President, which is to promote the sale of crude oil within local refineries and Nigeria National Petroleum Corporation (NNPC), to deal in our local currency.

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“The attitude of Mr. President is thinking outside the box to solve Nigeria’s problem and actually to localised the solutions to Nigeria’s problem.

“He has approved through the Council that effective immediately, that NNPC get engaged with local refineries and we are starting that with Dangote Refinery. That the sales of crude oil to Dangote Refinery be denominated in Naria and also the sales of byproducts from Dangote Refinery to distributors also be conducted in naira.

“What does it mean to our economy? One, the pressure on foreign exchange will be reduced”, he said.

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As part of the implementation, AFREXIM Bank was selected as the pilot settlement bank to facilitate the transactions.

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W’Cup Qualifiers: Super Eagles Edge Rwanda 1-0 To Revive Qualification Hopes

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In a high-stakes 2026 FIFA World Cup qualifier at the Godswill Akpabio International Stadium in Uyo, Nigeria secured a vital 1–0 victory over Rwanda, breathing new life into their qualification hopes.

The only goal of the match came in the 51st minute when Tolu Arokodare capitalized on a loose ball in the penalty area, slotting it past Rwanda’s goalkeeper to give Nigeria a crucial lead.

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The first half ended goalless, with both teams cautious in their approach. Nigeria’s defense, marshalled by Calvin Bassey, held firm despite Rwanda’s tactical shifts in the second half.

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Nigeria suffered a blow as star striker Victor Osimhen limped off in the first half, replaced by Cyril Dessers. Despite the setback, the Super Eagles maintained pressure to secure the vital win.

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The victory moves Nigeria to 10 points from 7 matches in Group C, while Rwanda remains on 8 points, making the race for World Cup qualification even tighter.

Fans reacted passionately on social media platforms, with many praising the team’s resilience and expressing concern over Osimhen’s injury.

Looking ahead, Nigeria will aim to build on this momentum in their upcoming fixtures to secure a spot at the 2026 World Cup.

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NCDC Alerts Nigeria As DR Congo Declares Ebola Outbreak

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The Nigeria Centre for Disease Control and Prevention (NCDC) has issued a public health advisory following the confirmation of a new Ebola Virus Disease (EVD) outbreak in the Democratic Republic of Congo (DRC).

As of September 4, 2025, the DRC has reported 28 suspected cases and 15 deaths, including four health workers, in the Kasai Province.

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The Director-General of NCDC, Dr. Jide Idris, said the agency will continue to monitor the regional and global situations as there are no cases of Ebola virus disease in Nigeria, as of now.

However, the NCDC is taking proactive measures to prevent the spread of the disease, and it is working closely with relevant Ministries, Departments, Agencies, and Partners to strengthen preparedness and response measures in Nigeria.

READ ALSO:Ebola In Uganda: NCDC Ups Preparedness, Cautions Nigerians On Travel

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Idris urged Nigerians to practice good hand hygiene by washing their hands regularly with soap under running water or using hand sanitisers. He also advised Nigerians to avoid physical contact with anyone showing symptoms of infection or an unknown diagnosis.

Additionally, individuals should handle animals with gloves and protective clothing, and cook animal products thoroughly to reduce the risk of wildlife-to-human transmission.

Furthermore, people should avoid direct contact with the blood, saliva, vomit, urine, and other bodily fluids of suspected or confirmed EVD cases.

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The NCDC advises Nigerian citizens and residents to avoid all but essential travel to countries with confirmed Ebola cases. Those with recent travel history to affected areas who experience symptoms should promptly call the NCDC hotline (6232) or their State Ministry of Health hotline for assessment and testing.

READ ALSO:NCDC Confirms 80 Deaths From 413 Lassa Fever Cases In 11 States

They should also shelter-in-place to avoid further spread through shared transport systems and await dedicated responders for assessment and possible transport to a treatment centre.

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The NCDC is strengthening surveillance across the country, including borders and airports, and enhancing laboratory capacities for quick testing of suspected cases.

Idris assured that the agency will continue to provide periodic updates on the situation as the Ebola outbreak in the DRC is caused by the Zaire strain, with a mortality rate estimated at 57%.

The World Health Organisation (WHO) has deployed experts to support response efforts, and the DRC has activated its Public Health Emergency Operations Centre.

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5% Fuel Surcharge: What Nigerians Should Know

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File Copy: Chairman of the Presidential Committee on Tax Policy and Fiscal Reforms, Taiwo Oyedele

Confusion has erupted online over a supposed 5% fuel surcharge under Nigeria’s new tax laws, with many fearing a sudden increase in fuel prices.

The chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, on Saturday through a post on X, clarified what is fact and what is fiction.

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The controversy arises from the recent passage of the Nigeria Tax Act, 2025, which consolidates and harmonises previous tax laws.

Some social media posts suggested that President Bola Tinubu’s administration had introduced a new surcharge on fuel, sparking public concern.

Oyedele clarified: “The charge is not a new tax introduced by the current administration. The provision already exists under the Federal Roads Maintenance Agency (Amendment) Act, 2007. Its restatement in the new Tax Act is for harmonisation and transparency rather than immediate implementation.”

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According to Oyedele, the surcharge is meant to fund road infrastructure, an area that has historically suffered from underfunding.

Over the years, Nigeria’s road network has faced chronic maintenance challenges, resulting in potholes, travel delays, and higher vehicle operating costs.

Oyedele further noted that the surcharge is intended to create a dedicated, predictable funding source for road construction and maintenance.

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READ ALSO:Nigerian Lawmakers Approve Tinubu Tax Reform Bills

Oyedele addressed key questions raised by citizens:

Will the surcharge start automatically in January 2026?

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No. It will only take effect when the Minister of Finance issues an order published in the Official Gazette:

“The surcharge does not take effect automatically with the new tax laws. It will only commence when the Minister of Finance issues an order published in the Official Gazette as stated under Chapter 7 of the Nigeria Tax Act, 2025. This safeguard ensures careful consideration of timing and economic conditions before implementation,” Oyedele stated.

Does it apply to all fuels?

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No. Household energy products such as kerosene, LPG, and CNG are exempt. Clean and renewable energy products are also excluded to support Nigeria’s energy transition agenda.

Why maintain the surcharge amid economic hardship?

Oyedele explained that the fund is meant as a dedicated mechanism for road maintenance:

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He said, “The surcharge is designed as a dedicated fund for road infrastructure and maintenance. If implemented effectively, it will provide safer travel conditions, reduce travel time and cost, lower logistics costs and vehicle maintenance expenses, which will benefit the wider economy. This practice is virtually universal with over 150 countries imposing various charges ranging between 20% to 80% of fuel products to guarantee regular investment in road infrastructure.”

Could subsidy savings cover road funding instead?

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The Chairman of theCommittee on Fiscal Policy and Tax Reforms said: “While subsidy savings will provide some funding, they are insufficient to meet Nigeria’s huge and recurring road infrastructure needs among other public finance needs. A dedicated fund ensures reliable and predictable financing for roads, complementing the budget and ensuring roads are not left underfunded.”

Does this contradict the tax reform objective of easing citizens’ burden?

READ ALSO:Tax Reform Bills Offer 55% To States In New Sharing Formula

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Oyedele reassured: “The reforms have already reduced multiple taxes and removed or suspended several charges that directly affect households and small businesses, such as VAT on fuel, excise tax on telecoms, and the cybersecurity levy. By harmonising earmarked taxes, government is reducing duplication and ensuring a more efficient tax system.”

Why not remove the surcharge entirely?

He clarified: “Yes, the surcharge has been removed from the FERMA Act and incorporated into the new tax laws which are designed to provide a forward-looking legal framework for Nigeria. Keeping this provision in place within a harmonised legal framework ensures Nigeria is prepared to address critical challenges, such as sustainable road financing and even climate change impacts. It is not about immediate implementation, but to ensure the law provides a clear and effective framework for when it becomes necessary in the future.”

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In summary, Oyedele stressed that the surcharge is not new, not immediate, and selectively applied. Its inclusion in the law is about transparency, preparedness, and sustainable funding for Nigeria’s roads, and it aims to address long-standing gaps in infrastructure financing.
(PUNCH)

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