Buhari, other African presidents set to unveil Dangote petroleum refinery
President Muhammadu Buhari, along with the Presidents of Ghana, Togo, Senegal, Niger, and Chad, will inaugurate the Dangote Petroleum Refinery & Petrochemicals today(Monday). This refinery, established by Aliko Dangote, Africa’s richest man, stands as the world’s largest single-train refinery.
The refinery which spans a vast area of 2,635 hectares of land within the Dangote Industries Free Zone and located in Ibeju-Lekki, Lagos, is said to generate employment opportunities for over 100,000 individuals.
The commencement of this colossal project aims to steer Nigeria away from its dependence on oil exports, joining the ranks of oil-rich nations that heavily rely on petroleum imports.
Distinguished guests, including international dignitaries and esteemed figures such as the Presidents of Togo, Ghana, Senegal, Niger, and Chad, are expected to attend this historic event. Notably, President Paul Kagame of Rwanda will be present virtually, delivering his goodwill message to commemorate the occasion.
Also expected in attendance are the 36 states governor and president-elect, Ahmed Bola Tinubu.
Read also: NNPCL to supply 300,000 barrels daily to Dangote Refinery
Resident Doctors suspend nation-wide strike
The Nigerian Association of Resident Doctors (NARD) has suspended its one-week warning strike, which it embarked on Wednesday, May 17.
Dr. Emeka Orji, president of the association, said in a telephone conversation with Channels that the association has suspended the warning strike for two weeks after reaching some agreement with the federal government on Friday.
He, however, said that the association will meet on June 2 to deliberate further on the progress made with the agreement signed, after which they will decide on the next line of action.
The five-day warning strike, which began on May 17, has the doctors pressing home their demand for better work conditions, which includes payment of all salary arrears for their members as well as the immediate upgrade of infrastructure in public hospitals.
Home delivery of passports to start soon says Aregbesola
Rauf Aregbesola, the Interior Minister, said that the Federal Government, in collaboration with the Nigeria Postal Service, will soon start a home delivery of passports, but noted that it is for those who opt in.
Aregbesola gave this revelation at the opening of the Nigeria Immigration Service Passport Front Desk Office in Auchi, Edo State, on Saturday.
“We are also in the final stage of concluding negotiations with NIPOST to begin the usage of its speed mail service to deliver passports to Nigerians wherever they are in the world after production,” the minister tweeted.
He said that the launch of the passport office is the sixth of its kind in 2023 and is part of the federal government’s effort to “bring passport application processing closer to the people”.
“It is our projection that by the time we open more front offices like this, the waiting period will not be more than three days. Indeed, the more front offices we have, the less the waiting period,” he added.
Over N12bn gross claims paid—NEM Insurance
Fidelis Ayebae, Chairman, NEM Insurance Plc, said at the 53rd annual general meeting of the company in Lagos that the company paid N12.3 billion to its claimants in the 2022 financial year.
Ayebae said, “The gross claims incurred during the year was N12.3 billion, an increase of 7.9 percent over that of the preceding period, which was N11.6billion. The gross claims ratio for 2021 stood at 42.0 percent, whereas that of 2022 was 37.4 percent, a decrease of five percent.”
The Chairman stated that the net claims paid for the year was N7.6 billion, while that of the preceding year was N5.5 billion, resulting in an increase of 38 percent. An increase of 2.1 percent occurred as the net claims ratio moved from 19.9 percent in 2021 to 22 percent in 2022.
Oil edges up on supply worries, G7 pledge to enforce Russian price caps
Oil prices edged up on Monday on a softer dollar and supply cuts from Canada and OPEC+ producers, while investors waited to see if a pledge by the Group of Seven (G7) nations to strictly enforce price caps on Russian energy would impact exports.
According to Reuters, Brent crude futures climbed 14 cents, or 0.2 percent, to $75.72 a barrel by 0018 GMT, while U.S. West Texas Intermediate crude for July delivery, the more actively traded contract, was at $71.84 a barrel, up 15 cents, or 0.2 percent.
The U.S. president, Joe Biden, and House Speaker Kevin McCarthy are set to continue talks on Monday, as Treasury Secretary Janet Yellen has warned that the U.S. could default on its debt as early as June 1 if a deal to raise the debt ceiling is not agreed upon.
