Dangote Refinery has received its fourth shipment of one million barrels of bonny light crude supplied by the Nigeria National Petroleum Company Limited (NNPCL). The Dangote Oil Refining Company, a $20bn firm in a statement released on Sunday, expressed expectations of receiving the fifth shipment soon. "Preparations are in top gear for the commencement of production of Dangote Refinery, as the petrochemical company has received the fourth crude shipment of one million barrels of bonny light crude supplied by the Nigeria National Petroleum Corporation Limited (NNPCL), and expecting the fifth crude shipment, anytime from now," the company said. "The fresh one million barrels of crude was the fourth consignment to be delivered to the Dangote facility out of the six million barrels of crude being expected by the world's largest single-train refinery."
Sterling Bank Sets Record With Africa's First Solar-powered Headquarters
The headquarters of Sterling Bank located in Marina, Lagos State is now the first organisational headquarters in Africa to be fully powered by solar energy. This significant milestone caps off a year of impressive strides in sustainability and positions Sterling Bank at the forefront of the continent’s green revolution. This conversion from traditional energy sources to solar not only propels the bank to forefront of environmental stewardship but paves the way for other institutions to embark on a journey to green energy. A statement from the financial institution on Sunday said, Sterling Bank Headquarters, known as Sterling Towers was now fully powered by solar energy. It stated, “The iconic Sterling Towers, located in the bustling centre of Lagos, now boasts an operation on an advanced solar energy system. This decisive switch underscores Sterling Bank’s dedication to reducing its ecological footprint and spearheading the adoption of renewable energy within the continent.
Telcos To Fully Block Subscribers Without NIN In February
Telecom companies in Nigeria including MTN, Airtel, and Globacom have advised all subscribers, whose Subscriber Identity Module, SIM cards are yet to be linked with their National Identity Numbers, NIN, to do so before February 28, 2024, or lose the numbers permanently. This came as the umbrella body of the telcos, the Association of Licensed Telecommunications Operators of Nigeria (ALTON) yesterday, said it had agreed to abide by the Nigerian Communications Commission (NCC) directive to delist telephone lines without NIN.
Senate Passes 2024 Appropriation Bill
The Senate, at plenary on Saturday afternoon, approved the sum of N28.7 trillion as the 2024 appropriation bill. The bill which was increased by a total of N1.2tn was passed following a voice vote by the Senate President, Godswill Akpabio.
NLC Expresses Concern Over Lingering Naira Scarcity
The Nigeria Labour Congress (NLC), on Tuesday, expressed concerns over the lingering cash scarcity in the country. Five days to the Christmas Day celebration, the congress said in a statement by its National President, Joe Ajaero, that the situation has serious implications for citizens, insisting that urgent steps must be taken to address it to avoid social unrest. “If the Central Bank of Nigeria, CBN, is saying that those with ill-gotten wealth are stashing cash in their houses to avoid detection, it becomes a heavy indictment on the government’s anti-corruption agenda. This is because what the CBN is saying is that since the assumption of office of this government, the level of graft has increased resulting in the creation of hideouts for the slush funds. “The question then is; should the ordinary citizens be made to suffer the apparent incompetence of government in prosecuting the anti-corruption war or is it that there is actually no anti-corruption war going on?
N’Assembly To Pass 2024 Appropriation Bill Today
The National Assembly is expected to hold a plenary by 1:00 pm today, Saturday, December 30, to pass the 2024 Appropriation Bill. It can be recalled that the Red Chamber had earlier adjourned plenary till Friday, December 29, to consider and pass the 2024 budget, however, the date was shifted.
NASS Will Pass 2024 Budget By December 30- Rep
The House of Representatives has announced plans to pass the 2024 budget by Saturday, December 30, 2023, and other budget-related processes, including compilation, processing, and harmonization, would follow suit.
FG Fines BAT, Others $110Mn
The Federal Government (FG) through the Federal Competition and Consumer Protection Commission (FCCPC) has fined the British American Tobacco and its affiliate companies $110 million. This was made known in a statement issued on Wednesday by FCCPC, which stated that an investigation was initiated on 28 August 2020, over the company’s alleged infringement of the Federal Competition and Consumer Protection Act (FCCPA), National Tobacco Control Act and sundry legal instruments.
CBN Blames Hoarding For Naira Scarcity, Assures Nigerians Of Availability
The Central Bank of Nigeria (CBN) has declared that there are enough naira notes in circulation to meet cash needs. This is in response to a recent outcry by Nigerians over cash scarcity which is causing frustration even as the Christmas and New Year celebrations are days away. A statement on Wednesday signed by CBN's Acting Director of Corporate Communications, Mrs Hakama Ali, revealed that naira notes in circulation had increased from N1 trillion in February to N3.4 trillion in December.
FG Commences Payment of N-Power Beneficiaries Salary Arrears
The Federal Government has approved the payment of backlog of NPOWER beneficiaries’ arrears across the country. Commencement of the payment was initiated by the Federal Ministry of Humanitarian Affairs and Poverty Alleviation after a painstaking verification exercise. Minister, Betta Edu, announced the release of funds on Wednesday night, stating that it brings renewed hope for Nigerian youths during the Christmas and New Year celebrations. Edu said President Tinubu’s interest in Nigerian youths is evidenced by the numerous policies and programs of his administration largely tailored toward providing opportunities for them. She wishes the beneficiaries who went through the painstaking process of the verification exercise, a Merry Christmas and a prosperous New Year with their loved ones.
Nigeria Boast Of Excellent Credit Rating
Senior Special Assistant to the President on Public Engagement, Fredrick Nwabufo has disclosed that despite the current economic quagmire, the country can still boast of an excellent credit rating. In his exposé, Nwabufo stated that the reports are coming in. And they betoken blue skies and clement weather for Nigeria’s economy. In November 2023, Morgan Stanley made a fetching prognosis on Nigeria’s economic health. The global financial services firm said President Bola Tinubu’s “policy reforms could spur economic growth and the rise of a mass consumer market, with potential opportunities in mobile banking and consumer goods” in Nigeria.