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Update : FG confirms continuation of crude, refined product sales in Naira initiative, Says Wale Edu

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The Federal Government has confirmed the crude and refined product sales in Naira initiative remains a standing national policy and will continue indefinitely.

However, the policy will stay in place as long as it serves the public interest and supports Nigeria’s broader economic goals.

This assurance was contained in the official X (formerly Twitter) handle of the Federal Ministry of Finance on Wednesday morning amid growing inquiries on the status of the policy.

The Ministry stated the initiative, first approved by the Federal Executive Council (FEC), is a long-term strategic directive and not a short-term or provisional measure.

According to the Ministry, stakeholders have reconvened to reiterate their full support and ongoing commitment to ensuring the successful implementation of the initiative.

The policy, which mandates the transaction of crude oil and refined petroleum products in Naira, is aimed at strengthening the country’s economic sovereignty, enhancing local refining capacity, and stabilizing the foreign exchange market by reducing the demand for dollars in domestic petroleum transactions.

The Ministry explained that this policy is structured to foster energy security and encourage investment in domestic refining infrastructure.

“The Crude and Refined Product Sales in Naira initiative is not a temporary or time-bound intervention, but a key policy directive designed to support sustainable local refining, bolster energy security, and reduce reliance on foreign exchange in the domestic petroleum market,” the statement reads.

While acknowledging that the transition involves complexities, the government admitted that existing challenges are being systematically addressed.

“As with any major policy shift, the Committee acknowledges that implementation challenges may arise from time to time. However, such issues are being actively addressed through coordinated efforts among all parties,” the Ministry said.

To assess the progress made and address lingering implementation issues, the Technical Sub-Committee on the Crude and Refined Product Sales in Naira initiative held a review meeting on Tuesday. The gathering brought together key figures involved in the execution of the policy.

Among the attendees were the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, who chairs the Implementation Committee; and the Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji, who heads the Technical Sub-Committee.

Also present were the Chief Financial Officer of NNPC Limited, Mr. Dapo Segun; the Coordinator of NNPC Refineries; Management of NNPC Trading; representatives from the Dangote Petroleum Refinery and Petrochemicals; and senior officials from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Central Bank of Nigeria (CBN), and the Nigerian Ports Authority (NPA). A representative from Afreximbank and the Secretary of the Committee, Hauwa Ibrahim, also attended.

This policy, which aligns with the government’s broader economic reform agenda, is expected to support local content development, ease pressure on Nigeria’s foreign reserves, and provide a more predictable pricing structure for refined petroleum products in the domestic market.

The presence of major players from both the public and private sectors at the meeting shows the scale of collaboration required to sustain the policy. It also reflects the growing confidence in Nigeria’s shift toward economic policies that prioritize local capacity and currency resilience.

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Just IN : Relief in Kaduna as Soldiers Rescue 31 Kidnapped Easter Worshippers

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Troops of the Nigerian Army have rescued 31 civilians abducted during an Easter church service in Ariko Village, Kachia Local Government Area of Kaduna State.

The rescue followed a distress call reporting that terrorists had invaded an ECWA Church in the community and abducted worshippers during the service.

In a statement posted on its X handle on Sunday, the Army said that upon receiving the information, troops swiftly mobilised to the scene and, with the support and guidance of members of the Ariko community, advanced in pursuit of the fleeing attackers.

The Army said the troops engaged the terrorists in a fierce firefight, overpowering them with superior firepower.

“Troops of the Nigerian Army, through a swift response, successfully foiled a terrorist attack, leading to the rescue of 31 civilians abducted during an Easter church service in Ariko Village, Kachia Local Government Area of Kaduna State.

“The swift response followed a distress call reporting the abduction of worshippers during an Easter service at an ECWA Church in Ariko Village. The troops, on receipt of the information, promptly mobilised to the scene. With the support and guidance of members of the Ariko community, they advanced in pursuit of the fleeing terrorists and engaged the criminals in a fierce firefight, overwhelming them with superior firepower.

“The pressure mounted by the advancing troops forced the terrorists to abandon 31 hostages, including one injured victim who is currently receiving medical attention,” the statement partly read.

However, the army disclosed that troops also recovered the remains of five victims already killed by the terrorists at the scene.

“Regrettably, the remains of five victims already killed by the terrorists were also recovered at the scene. The fleeing terrorists are believed to have sustained significant casualties, as evidenced by blood trails along their escape routes.

“Troops have since intensified pursuit operations to track the fleeing elements to their enclaves, with ongoing efforts aimed at rescuing any remaining captives and ensuring the perpetrators are brought to justice,” the statement added.

The army said additional troops had been deployed to the area to reinforce ongoing operations, enhance security presence, and prevent further threats to lives and property.

“To consolidate the gains recorded, additional troops have been deployed to the area to reinforce ongoing operations, enhance security presence, and prevent further threats to lives and property.

“The Nigerian Army reaffirms its unwavering commitment to the protection of citizens and the defence of Nigeria’s territorial integrity, in collaboration with other security agencies and local stakeholders. Troops remain resolute in sustaining offensive operations against all threats to national security.

“Members of the public are encouraged to continue supporting the Nigerian Army and other security agencies by providing timely and credible information, as collective vigilance remains vital to achieving enduring peace and stability,” the statement concluded.

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Breaking : Tinubu Moves to Fix Power Crisis with N3.3tn Debt Clearance

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President Bola Tinubu has approved a ₦3.3 trillion payment plan aimed at resolving long-standing debts in Nigeria’s power sector and boosting the reliability of electricity supply.

The plan addresses legacy debts accumulated between February 2015 and March 2025 under the Presidential Power Sector Financial Reforms Programme.

Following a comprehensive review, the government agreed on ₦3.3 trillion as a full and final settlement, ensuring transparency and fairness.

A statement issued on Sunday by the special adviser to the president on information and strategy, Bayo Onanuga, stated that implementation of the repayment plan has already begun, with fifteen power plants already signed settlement agreements totalling ₦2.3 trillion.

The statement read, “President Bola Tinubu has approved the payment plan to finally settle the outstanding debts under the Presidential Power Sector Financial Reforms Programme.

“The debt repayment plan followed the final review of the legacy debts that have beset the power sector for more than a decade.

“The long-standing debts accumulated between February 2015 and March 2025. Following verification, ₦3.3 trillion has been agreed as a full and final settlement, ensuring a fair and transparent resolution.

“Implementation has begun, with 15 power plants signing settlement agreements totalling ₦2.3 trillion. The Federal Government has already raised ₦501 billion to fund these payments. Out of the amount, N223 billion has been disbursed, with further payments underway.

“What this means for Nigerians: With payments reaching the power value chain, generation will be more stable. With power plants supported, electricity reliability will improve.”

Commenting on the development, the Special Adviser on Energy to the President, Olu Arowolo-Verheijen, explained that the settlement would improve electricity reliability by stabilising the power value chain.

“This programme is not just about settling legacy debts. It is about restoring confidence across the power sector — ensuring gas suppliers are paid, power plants can keep running, and the system begins to work more reliably,” she said.

The adviser added that the reforms are part of broader initiatives, including better metering and service-based tariffs that link consumer payments to the quality of electricity received.

Priority will also be given to supplying electricity to businesses, industries, and small enterprises to support job creation and economic growth.

“The goal is simple: more reliable power for homes, stronger support for businesses, and a system that works better for all Nigerians,” Arowolo-Verheijen said.

President Tinubu commended all stakeholders involved in resolving the legacy issues and confirmed that the next phase of the reforms, Series II, will commence this quarter.

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Easter : Senator Araraume urges Nigerians to embrace sacrifice, renewed hope, prays for Tinubu’s leadership

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..…Says Christ’s resurrection symbolises Nigeria’s rising from challenges to glory

,,,,Commends President Tinubu’s bold reforms, calls for continued prayers

As Christians across Nigeria and the world celebrate Easter, a chieftain of the All Progressives Congress (APC), Senator Ifeanyi Godwin Araraume, has called on Nigerians to embrace the virtues of sacrifice, forgiveness, and renewed hope which the resurrection of Jesus Christ symbolises.

In his Easter message, which he personally signed, the former governorship candidate of Imo State reflected on the profound significance of the season, describing Easter as a divine testament that no night lasts forever, and that after every crucifixion comes a glorious resurrection.

“Easter is not merely a festival; it is a spiritual declaration that darkness does not have the final word. As Christ rose triumphantly on the third day, I believe Nigeria, too, is rising from every challenge to meet her God-ordained destiny,” Araraume stated.

The APC chieftain used the occasion to offer fervent prayers for President Bola Ahmed Tinubu, whom he described as a courageous leader steering the ship of state through turbulent but necessary waters.

“I pray that the God who raised Christ from the dead will raise every help that President Tinubu needs to succeed. I pray for divine wisdom, physical strength, and uncommon protection over his life. Let no arrow of the wicked find its mark in his camp. May his labours for our nation yield fruits that generations yet unborn will celebrate,” Araraume prayed.

He further commended President Tinubu for his bold and far-reaching reforms, acknowledging that while the policies may demand present sacrifice from citizens, the long-term dividends will be peace, stability, and shared prosperity.

“Mr. President has shown that he has the heart of a reformer and the backbone of a statesman. These are not easy times, but great nations are forged in the furnace of difficult decisions. I call on all Nigerians, regardless of party or creed, to support this administration with patience and prayer,” the Senator added.

Senator Araraume also urged Nigerians to show love to one another, especially to the less privileged, the grieving, and the displaced, noting that the true essence of Easter is found in selfless giving and communal solidarity.

“Let us visit the orphanage, feed the hungry, and extend a hand to our neighbour in distress. That is the gospel in action. That is the Nigeria we must build together,” he said.

He wished all Christians a peaceful, joyous, and spiritually fulfilling Easter celebration.

Signed:
Senator Ifeanyi Godwin Araraume
Chieftain, All Progressives Congress (APC)

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