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Dangote refinery will end reign of oil cabal in Nigeria -Otedola, eulogies daring spirit of Dangote

Funso OLOJO 
Nigeria’s billionaire and Chairman, FBN Holdings, Mr. Femi Otedola has hailed his fellow billionaire friend, Aliko Dangote, over the successful rollout of refined Premium Motor Spirit (PMS) otherwise known as petrol from his multi-billion dollar facility.
He said the feat is an audacious pursuit of a dream in the face of adversity.
In his verified official X handle, Oyetola believes that the feat will break the vice grip that the oil cabal has on the energy market and set Nigerians free from economic slavery.
He however advised deposit owners in Nigeria to go and dismantle their depots and sell them as scraps while the market is still high as it would no longer be business as usual.
 Otedola, who recalled the futile efforts of himself and Dangote to have a stake in the Kaduna and PortHaucourt refineries with a view to revamping the moribund national assets, said that the days of bowing to foreign powers for Nigeria’s fuel needs are over.
 “First and foremost, I want to extend my heartfelt congratulations to President Bola Tinubu for his unwavering support and belief in actualizing this monumental achievement under his administration.
” This day belongs to every Nigerian who has dared to dream of a better future. Congratulations to our great nation—today, we all stand a little taller.
“Aliko, it feels like just yesterday, but it has been 25 long years since we first set our sights on transforming Nigeria’s energy landscape.
“I remember vividly when we set up the Blue Star Consortium to acquire stakes in the Kaduna and Port Harcourt refineries—20% for me and 51% for you.
“We were ready to change the game, but fate had other plans.
“The government of the day, in an act I can only describe as utterly obnoxious, canceled our stakes and thwarted our vision.
“But, as always, you refused to be deterred.
“You never gave up on the dream we shared. You carried the torch forward, igniting a spark that has today become a roaring flame.
“And now, 25 years later, here we stand on the precipice of history, with the first fuel shipment from the Dangote Refinery—a feat that is nothing short of miraculous.
“While the Kaduna and Port Harcourt refineries have remained dormant, their promise unfulfilled despite billions of dollars spent on so-called turn-around maintenance, you have achieved what many said was impossible.
 You have beaten all the skeptics, silenced the naysayers, and proved wrong those who doubted your resolve, even those who never wanted this project to succeed.
“You have not just built a refinery; you have liberated us from the chains of economic dependence that have held this nation back for far too long.
“The days of bowing to foreign powers for our fuel needs are over, thanks to your vision and determination.
“You have dealt a death blow to the so-called local cabals who have fattened themselves for years, feeding off our nation’s economic slavery.
“These cabals, who have grown rich by keeping Nigeria in a perpetual state of dependence, must now face the reality that their era of easy gains is coming to an end.
“I am reminded of the time you revolutionized the cement industry in Nigeria. Ships that once brought in cement turned into rusting relics, scraps of a bygone era.
” Now, with your refinery in full swing, I foresee a similar fate for fuel imports.
“The depot owners should take heed—it’s time to dismantle those depots and sell them as scraps while the market is still high.
“The world has changed, and those who do not adapt will be left behind.
“When I ventured into the depot business with Zenon, it was in response to the inefficiencies of the NNPC.
” Zenon pioneered the diesel business in Nigeria and quickly became the largest in the country, filling the gaps left by our inefficient system.
“But today, your refinery stands as a beacon of what is possible when one has the audacity to dream and the tenacity to see it through.
“Aliko, you have my deepest admiration and respect.
” Congratulations to you and the entire board, management and staff of Dangote Refinery on this monumental achievement.
“This is not just a victory for you but for every Nigerian who dares to dream. May this be just the beginning of even greater things to come.”
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Economy

News Alert! Tinubu sacks Wale Edun as Finance Minister in cabinet reshuffle, appoints Taiwo Oyedele as replacement 

Funso OLOJO, Editor 
President Bola Ahmed Tinubu has carried out a major reshuffle exercise in his cabinet in which he dropped the Minister of Finance and the Coordinating Minster, Mr Wale Edun.
Taiwo Oyedele, who was recently appointed as the Minister of State for the Ministry, has now replaced the sacked Edun.
Also removed in the reshuffle exercise was the Minister of Housing and Urban Development, Ahmed Dangiwa.
A statement on Tuesday, April 21st, 2026,by the Special Adviser, Media and Publicity to the Secretary to the Government of the Federation, Yomi Odunuga, said the development was contained in a memo signed by the
Secretary to the Government of the Federation, George Akume.According to the memo, Taiwo Oyedele has been appointed as the new Minister of Finance and Coordinating Minister of the Economy.
Also appointed was Dr. Muttaqha Darma as Minister-designate for Housing and Urban Development.

The memo directed the outgoing ministers to complete handover processes to their respective successors or supervising officials.It stated that all handing over and taking over activities must be concluded on or before the close of business on Thursday, 23rd April, 2026.

Explaining the decision, Akume said the changes were aimed at improving coordination and strengthening delivery across key sectors of the economy under the Renewed Hope Agenda.

“These changes are aimed at strengthening cohesion, synergy in governance as well as achieving more impactful delivery on the economy to Nigerians, through the Renewed Hope Agenda,” Akume stated.

He added that President Tinubu acted in line with his constitutional powers as provided under Sections 147 and 148 of the 1999 Constitution (as amended).

The SGF also conveyed the President’s appreciation to the outgoing ministers for their service to the nation and wished them well in their future endeavours, noting that the process of cabinet reinvigoration would remain continuous.

The statement further noted that Taiwo Oyedele was appointed as Minister of State for Finance in March 2026, while Edun was among the ministers appointed on August 16, 2023.

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Economy

Tinubu assents to 2026 Appropriation bill , extends 2025 budget implementation 

Funso OLOJO, Editor
President Bola Ahmed Tinubu has assented to the 2026 Appropriation Bill, which provides for an aggregate expenditure of ₦68.32 trillion.
He has also signed the bill extending the implementation period for the 2025 budget from March 31, 2026, to June 30, 2026.
The N68.32 trillion budget for this year earmarks N4.799 trillion for statutory transfers and N15.8 trillion for debt service.
It allocates N15.4 trillion to recurrent expenditure and N32.2 trillion to the Development Fund for Capital Expenditure.
According to the statement signed by Bayo Onanuga, the Special Adviser to the President on information and Strategy, with capital expenditure accounting for about 50 per cent, the 2026 budget underscores the administration’s continued commitment to economic stability, national security, infrastructure development, and inclusive growth.
The allocations reflect a strategic balance between statutory obligations, debt servicing, recurrent expenditure, and capital investments critical to driving productivity and improving the quality of life for Nigerians.
Additionally, the President has assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the implementation period of the capital component of the 2025 Appropriation Act from March 31, 2026, to June 30, 2026.
The extension will ensure the full and effective utilisation of appropriated funds, particularly for critical infrastructure and development projects that are at advanced stages of implementation across the country.
It will enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing works, enhance project completion rates, and maximise value for public expenditure.
With the 2026 Appropriation Act coming into force on April 1, the Federal Government will commence full implementation in line with the Renewed Hope Agenda.
President Tinubu directed MDAs to ensure disciplined, transparent, and efficient utilisation of allocated resources, with a strong emphasis on value for money and timely project delivery.
He commended the leadership and members of the National Assembly for their diligence, cooperation, and patriotism in expeditiously considering and passing the budget.
The President reaffirmed the importance of sustained collaboration between the Executive and Legislative arms of government in advancing national development objectives.
He further assured Nigerians of his administration’s resolve to deepen fiscal reforms, enhance revenue generation, and prioritise investments that will stimulate economic growth, create jobs, and strengthen social protection mechanisms.
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Economy

NNPC attributes increased crude oil production to enhanced security surveillance of pipelines in Niger- Delta

Funso OLOJO, Editor

The Nigerian National Petroleum Company Limited (NNPC) has confirmed that national crude oil production has grown from a historic low of 960,000 barrels per day in 2022 to an average of 1.71 million barrels per day and a peak production of 1.84 million barrels per day in 2025, owing to the establishment of the integrated energy security for pipelines in the Niger Delta.

Group Chief Executive Officer of NNPC Ltd, Engr. Bashir Bayo Ojulari, made the disclosure at the Parliamentary Roundtable on the State of Pipelines Security which held at the National Assembly, in Abuja, on Wednesday, April 8th, 2026.

Speaking on the success of the security arrangement, Ojulari explained that it was not accidental, and that it involved an “integrated energy security model that combines legislative and executive policy alignment, actionable intelligence, kinetic deployment capabilities, regulatory oversight, industry cooperation, and community‑embedded surveillance mechanisms”.

He said the resurgence of production due to the effective tackling of the twin menace of oil theft and pervasive pipeline sabotage has led to the restoration of investors’ confidence in the nation’s oil and gas sector.

In his welcome address, the President of the Senate, Sen. Godswill Akpabio, represented by Senator Jimoh Ibrahim, called for collaboration among agencies and stakeholders in resolving all challenges impeding production growth.

On his part, the Speaker of the House of Representatives, who was represented by the Leader of the House, Hon. (Prof.) Julius Ihonvbere, urged the forum to evaluate the progress made so far with a view to ensuring fairness and equity.

The Parliamentary Roundtable on the State of Pipelines Security was convened by the Joint Senate and House of Representatives Committee on Petroleum Resources.

It had in attendance the Senate President, Speaker of the House of Representatives, National Security Adviser, Minister of Defence, and representatives of oil industry regulatory agencies.

The Roundtable also featured presentations by the Chief of Defence Staff, Inspector General of Police, Director General of the Department of State Services, Commandant General of the Nigerian Security and Civil Defense Corps, and private security companies.

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