Economy
Crude Oil Sale In Naira Reducing Forex Risks, Supporting Local Currency: FG
Crude Oil Sale In Naira Reducing Forex Risks, Supporting Local Currency: FG
Crude oil sale in naira reducing forex risks, supporting local currency: FG. Mr Tinubu said that in 2025, the country continued witnessing a renaissance in the oil and gas sector, characterised by transformative initiatives and significant milestones.
The Federal Government has said the introduction of the sale of crude oil in naira was a strategic move to enhance operational efficiency of local refineries by reducing foreign exchange risks and transaction costs.
President Bola Tinubu made this known on Tuesday, while officially declaring the eight edition of the Nigeria International Energy Summit (NIES 2025) open in Abuja.
The 2025 summit has its theme as “Bridging Continents: Connecting Investors Worldwide with Africa’s Energy Potential.”
Represented by the Minister of State for Finance, Dr Doris Uzoka-Anite, Mr Tinubu said that the move had also fostered a stronger and more stable domestic market.
He said, “In order to ensure that the local refineries are very competitive, thereby lowering the cost of the retail price of petroleum products for our populace, we introduced the sale of crude oil in naira. By denominating crude sales in naira, we are supporting the local currency and creating a more resilient economy.
This initiative is expected to result in more affordable petroleum products for our citizens, ultimately improving their standard of living and stimulating economic growth. This is also going to alleviate the effects of the fuel subsidy removal.’’
He noted that that in 2025, the country continued witnessing a renaissance in the oil and gas sector, characterised by transformative initiatives and significant milestones.
He added that for close to two years, his administration remained resolute in driving reforms and milestones in Nigeria’s energy sector and the economy at large.
He said the reforms, including the removal of the fuel subsidy and forex liberalisation which were two main reforms of the administration in the first year had liberalised the economy, making it an investment destination of choice.
Highlighting some key achievements that positioned the economy as a global energy powerhouse, he said Nigeria’s selection as a host country for the headquarters of the African Energy Bank was a historic milestone in the sector.
He noted that the achievement reaffirmed Nigeria’s leadership in Africa’s energy landscape and commitment to driving sustainable development across the continent.
“By securing this prestigious institution, we have positioned Nigeria as the hub for energy financing, fostering investment, innovation and job creation. This milestone underscores our dedication to energy security, economic growth and regional cooperation, ensuring a brighter, more prosperous future for all Nigerians and Africans.
We have also issued far-reaching executive orders that have seen a return of investment into our oil and gas sector. In the upstream sector, we have witnessed increased crude oil production owing to strategic interventions in security, development and investment incentives,” the president said.
He said the inauguration of the Presidential Executive Order on Oil and Gas Sector Reforms also streamlined processes, fast-tracked licensing rounds and encouraged indigenous participation that were fostering local content development.
He added, “We have seen increasing investment announcements and innovative ways to support the oil and gas sector and we are open to receiving more of such exciting announcements.’’
Mr Tinubu, while expressing determination towards completion and operationalisation of key gas infrastructures, including the Ajaokuta Kaduna Kano Gas Pipeline Project, said it would strengthen the capacity to supply clean energy to industries and households.
He added that the implementation of the Presidential Compressed Natural Gas Initiative (P-CNGI) was also transforming the transportation sector, reducing dependence on one single source of fuel, which used to be fuel.
According to him, the administration is currently implementing a series of comprehensive reforms in the fiscal and tax policies aimed to create a more business-friendly environment and attract both local and international investments.
He said by simplifying the tax regulations, offering incentives and ensuring a more transparent and predictable fiscal framework, the reforms aimed to remove barriers to entry and support the growth of businesses in Nigeria.

Naira
He stated that the measures would not only make it easier for companies to invest and operate in the country, but also to stimulate economic development, growth and prosperity of the nation.
He said with the coming on stream of the Port Harcourt and Warri refineries, the country had more refining capacity to process crude and also deliver the products at a cheaper cost to Nigerians.
“We are actively developing a hydrogen policy to attract investors and integrate hydrogen in our energy mix,” he said.
Economy
Okpebholo Threatening Me With Violence, I’ll Fight Back Says Obaseki
Okpebholo Threatening Me With Violence, I’ll Fight Back Says Obaseki
Okpebholo threatening me with violence, I’ll fight back says Obaseki. Godwin Obaseki, the immediate past governor of Edo, has accused Monday Okpebholo, his successor, of threatening him with violence. Obaseki spoke during the weekend at an event in London, the United Kingdom.
BACKGROUND
Since assuming office in November 2024, Okpebholo has initiated a series of actions aimed at scrutinising Obaseki’s tenure.
He first constituted a 14-member committee to investigate the assets, liabilities, contracts, and financial decisions made under Obaseki.
Okpebholo then expanded the scrutiny to the state civil service, ordering a probe into all recruitments conducted between May and November 2024, alleging a violation of due process.
Last week, Okpebholo asked the federal government to repatriate Obaseki to answer questions over public funds linked to the controversial Museum of West African Art (MOWAA) project.
‘OKPEBHOLO THREATENING ME’
Obaseki said the governor is threatening him with violence and allegedly sent thugs to attack him in the UK.
“Those who live by the sword will die by the sword,” Obaseki said. “And to tell the governor, Okpebholo, I don’t know him; I have never met him. When you start with violence, you will reap violence.
“For one year since I left office, I didn’t say one word. I decided to respect myself and allow them to try [in governance] as well. Go and find out, you won’t see one thing I said about his government.”
He accused Okpebholo’s government of being behind the attack on diplomats during the exhibition in MOWAA.
“As if that was not enough, the government paid people to come to Manchester to attack me,” he said.
“Who has started this violence? Is it me? Last week, this governor held a disgraceful press conference in which he threatened me not to come to Benin.

Obaseki
“They have been threatening violence. So if I respond, nobody should hold me responsible. “I can’t leave myself empty to be hurt and attacked by deranged people.
“So I am going to fight back. I will fight back. I didn’t start the fight. They are afraid. They know they did not win the election.”
Economy
Jigawa: 9,600 Teachers Register For Special Training
Jigawa: 9,600 Teachers Register For Special Training
Jigawa: 9,600 teachers register for special training. No fewer than 9,600 teachers under the Jigawa State Universal Basic Education Board (SUBEB) registered for a competency test to determine the specific training required to improve their skills and enhance teaching outcomes in the state.
The Executive Chairman of the Board, Professor Haruna Musa, revealed this while briefing journalists on the purpose of the examination, adding that 12,000 teachers were expected to register for the exam.
He explained that the state government, under the leadership of Governor Malam Umar Namadi, was committed to repositioning the state education sector as a key foundation for sustainable development, in line with its “12-Point Agenda.”
Prof. Haruna noted that while the government has been spending significant resources to improve educational infrastructure, meaningful learning improvements cannot be achieved without also enhancing the capabilities of teachers.
“Based on that, the State Executive Council approved for the board to organise a competency test for all teachers. This will enable us to understand the kind of training each teacher requires to improve his or her skills”.
“Out of the 9,600 teachers registered for the exam, over 70% have never attended any capacity-building training since they were employed, including some with over 15 years of service,” the Chairman added.

Teachers Register For Special Training
He stated that after the exam, the teachers will be categorised into three groups: Group A, those with both knowledge and teaching skills; Group B, those with knowledge but lacking teaching skills; and Group C, those lacking both knowledge and teaching skills.
“Each group will be offered specialised training. Those in Group C will undergo intensive training and subsequent examinations for a period to ensure they are equipped with the required knowledge and skills”.
“For those with slower learning uptake, we will attach them to competent teachers within their schools for ongoing guidance and mentorship,” Prof Haruna said.
He further stated that the project is not about retrenchment, but his primary goal is to enhance teachers’ capacity for better learning outcomes within the state’s basic education sector.
Economy
PFA: Leadway Pensure Leverages Innovations For Quality Service Delivery
PFA: Leadway Pensure Leverages Innovations For Quality Service Delivery
PFA: Leadway pensure leverages innovations for quality service delivery. A Pension Fund Administrator (PFA), Leadway Pensure said, it is leveraging innovation to escalate quality
service delivery to its retirement savings account (RSA) holders. This milestone marks 20 years of trust, exceptional service delivery, and value creation as it celebrates its anniversary. It highlights two decades of dedication to protecting the financial wellness of Nigerian workers.
Over the last 20 years, the PFA has served thousands of customers across Nigeria and beyond, standing as a clear testament to its commitment to providing financial stability at various stages of workers’ career journeys.
Speaking on this remarkable achievement, MD/CEO, Leadway Pensure PFA, Olusakin Labeodan, stated that: “As we celebrate 20 years of Leadway Pensure PFA, this milestone is more than a celebration of longevity, it is a tribute to trust, service and innovation.
From the very beginning, our mission has been very clear, to deliver a pension system without barriersOver two decades, we have transformed this vision into reality by simplifying pension access, embracing cutting-edge technology, and ensuring our services are always within reach. With a nationwide presence, a robust mobile platform, and the AI-powered assistant LISA, we have made pension services accessible to eligible Nigerians.
“We have supported countless customers in achieving life goals, from retirement to home ownership, by ensuring access, clarity and care at every step. This is a testament to the strong relationships and legacy we have built with every customer. Trust is at the heart of our service, propelling us to uphold world-class standards and earning us global certifications such as ISO/IEC 27001:2022 for information security, a mark of our unwavering commitment to safeguarding our customers’ funds. ”

Leadway Pensure
Looking ahead, the company said, it is committed to promoting youth-focused financial literacy, growing personal pension plans and strengthening customer engagement across every stage of the pension journey.
“The next years and beyond will be shaped by the same dedication that brought us this far, a future-forward mindset, a culture of excellence, and an unyielding promise to stand by our customers every step of the way,” Olusakin concluded.
As it commemorates 20 years of service, Leadway Pensure reaffirms its commitment to simplifying retirement planning, delivering consistent value, and driving financial inclusion across Nigeria.
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