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The President of the Dangote Group, Aliko Dangote, says President Bola Tinubu’s Naira-for-crude policy will slash the demand for foreign exchange (forex) by 40 per cent. Dangote said this on Tuesday at a press conference where he announced the commencement of the production of petrol at the Lagos-based 650,000 barrels per day facility. DAILY POST recalls that in April, the Federal Government said indigenous refineries could buy crude oil in Naira or dollars. Similarly, the government revealed the total crude oil and condensate reserves in Nigeria increased to 37.5 billion barrels as of January 1, with a life index of…

The Chairman Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has announced that the committee is currently proposing a law to the nation’s legislative body to increase Valued Added Tax, VAT, from the current 7.5 per cent to 10 per cent. Oyedele made this known while speaking on Channels TV’s Politics Today. According to him, the presidential tax committee was working to consolidate multiple taxes in Nigeria to ensure tax reduction, adding that a draft tax law would soon be submitted to the National Assembly. “The law we are proposing to the National Assembly has the rate of 7.5%…

No fewer than 129 were feared killed in the Democratic Republic of Congo during an attempted prison break. Congolese Interior Minister, Jacquemain Shabani, who made this known via his X handle on Tuesday, said authorities shot dead 24 inmates of the Makala prison in the capital Kinshasa, while dozens of others were suffocated or trampled to death. Shabani said some female prisoners were raped during the chaos on Monday night, adding that at least 59 people were also injured. According to him, the number of victims is preliminary, stressing that the police and army were able to bring the situation…

No fewer than 129 were feared killed in the Democratic Republic of Congo during an attempted prison break. Congolese Interior Minister, Jacquemain Shabani, who made this known via his X handle on Tuesday, said authorities shot dead 24 inmates of the Makala prison in the capital Kinshasa, while dozens of others were suffocated or trampled to death. Shabani said some female prisoners were raped during the chaos on Monday night, adding that at least 59 people were also injured. According to him, the number of victims is preliminary, stressing that the police and army were able to bring the situation…

No fewer than 31 students of the Tai Solarin University of Education, TASUED, in Ijagun, Ijebu-Ode, Ogun State, have been rusticated and 47 others suspended for various forms of academic and behavioral misconducts. This was contained in a statement issued by the university’s Public Relations Office on Tuesday. According to the statement, one Ojo Michael, a 200-level student in the Computer Science Department, was rusticated for forging his Cumulative Grade Point Average, CGPA, in order to run for the Student Union elections. The statement noted that 17 students were also rusticated for examination malpractice, five were sanctioned for making threats…

The founder of the Dangote Group, Aliko Dangote has said his hair went grey due to efforts to set up his refinery. Dangote also disclosed that the refinery was a brainchild of President Bola Tinubu. Addressing newsmen on Tuesday, Dangote said Tinubu dreamt about establishing a refinery in Lagos State about 18 years ago. According to Dangote: “There are no limits to how far I can travel, ours is to make our country and Africa proud; the journey just started and we will continue. Five or six years ago, I had no grey hair but now it’s history as we…

The Dangote Petroleum Refinery has vowed to ship its petroleum products to other countries if the Nigerian National Petroleum Company Limited, NNPCL and other oil marketers in the country fail to patronise it. The Vice President of Oil and Gas at Dangote Industries Limited, Devakumar Edwin, made this known during an appearance on the live broadcast of the Brekete Family Show on Monday. DAILY POST reports that the President of Dangote Refinery, Aliko Dangote, on Tuesday announced the rollout of Petrol from the 650,000 barrels per day refinery. He had in an earlier report said that the Premium Motor Spirit…

The Kano State Fire Service says it saved three people and property worth N102.9 million from 21 fire incidents recorded in August. The Public Relations Officer of the Service, Alhaji Saminu Abdullahi, made this disclosure on Tuesday in Kano. Abdullahi stated that during the period under review, about three persons died, while property worth N47.8 million was destroyed by fire. “The Service responded to 11 emergency calls and zero false alarms from residents of the state,” he said. The spokesman called on the general public to handle fire with care, and make sure they turned off electrical appliances, gas, and…

The President of Dangote Group and owner of Lagos-based Dangote Refinery, Aliko Dangote has said that his $20 billion facility will show the true volume of petrol consumption in Nigeria. Dangote made this statement at a conference on Tuesday in Lagos where he rolled out Premium Motor Spirit (PMS) also known as petrol from the refinery. “There is a lot of round-tripping where people now do documentation and the fuel does not come into Nigeria, and this is a fact. “Right now, as we have this refinery working, it will show the true consumption of Nigeria. “We can track every…

The Defence Headquarters (DHQ) has clarified that the two Mines Resistant Armored Personnel Carriers (MRAPs) shown in a recent video released by terrorists in Zamfara State were deliberately demobilized by troops after getting stuck in a swamp during an operation. The move was to ensure that the terrorists could not make use of the vehicles. The MRAPs became immobilized while troops of Operation Hadarin Daji, deployed at the Forward Operating Base (FOB) in Zurmi, Zurmi Local Government Area of Zamfara State, were conducting a fighting patrol on August 29, 2024. The patrol aimed to dislodge a gathering of terrorists at…