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Presidential Committee, Dangote Refinery Agree On Sept Petrol Deadline

The meeting reviewed progress on key initiatives, including the upcoming commencement of naira payments for crude oil sales to the Dangote Refinery starting October 1, 2024.

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At last, the Federal Government’s committee set up to ensure the implementation of crude oil sales to local refineries in naira has reached an agreement with the Dangote Refinery for the supply deadline of Premium Motor Spirit PMS, next month, September.

FG also disclosed that the sale of crude oil to Dangote Refinery and other local refineries will commence on October 1, 2024.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced this during a meeting with the Implementation Committee on Monday in Abuja.

It was revealed in a post on the official X handle of the finance ministry, that the meeting was to review progress on key initiatives and key roles outlined for stakeholders, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Central Bank of Nigeria, Nigerian Upstream Petroleum Regulatory Commission, and the African Export-Import Bank to ensure smooth implementation.

In the post, “The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, today led the Implementation Committee meeting on the transition to crude oil sales in naira.

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“The meeting reviewed progress on key initiatives, including the upcoming commencement of naira payments for crude oil sales to the Dangote Refinery starting October 1, 2024.”

“The first PMS delivery from Dangote is expected next month under existing agreements.”

“The ACF delegation, which visited the facility on July 30, 2024, was impressed by its sophisticated quality testing and control laboratories, which meet and surpass global industry standards.”

Recall that the Dangote Refinery had alleged sabotage and refusal to supply crude to it as reasons for its inability to meet the July 2024 petrol and diesel supply takeoff.

The allegation was made following the fire incident on a section of its ebullient plants.

Jide Pratt, Nigeria’s manager of Trade Grid, which supports a wide network of independent dealers across Africa, had said in June that the Dangote refinery is unlikely to meet the July deadline.

“The issue of crude supply is still a major issue, and postulations on how the premium motor spirit (PMS) will be sold in USD are unattended to,” Pratt said.

“A safe assumption may be August or September at best and December at worst.”

The Arewa Think Tank Chief Convener, Muhammad Yakubu, had said in June, following the fire outbreak in the Dangote Refinery, “Enemies of Nigeria are at work, those who don’t want Dangote and Tinubu to succeed, Nigeria and Nigerians will eventually triumph. The fire is happening a few days after the owner of the refinery, Aliko Dangote explained how International Oil Companies (IOC) are trying to frustrate him.”

Christian Wealth Principles

6 Biblical Money Foundations That Unlock Financial Freedom – What the Bible Really Says About Wealth

You will learn about Godly wealth principles and Christian money tips. It covers managing money, financial freedom and you will also explore Biblical investing, and blessings.

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Introduction

Is money evil? Should Christians be rich? What does the Bible really say about wealth?
Many believers struggle with finances due to mixed messages. But Scripture provides clear wisdom about money management. In this post, discover 6 Biblical money foundations that help you enjoy wealth without guilt and handle finances God’s way. This will help you in Faith and finances. You will learn about Godly wealth principles and Christian money tips. It covers managing money God’s way as well as spiritual and financial freedom. You will also explore Biblical investing, tithing, and blessings.

Watch the full video breakdown on our Faith & Fortune Finance YouTube channel [embedded below].

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1. God Owns Everything—We Are Just Stewards

Psalm 24:1 – “The earth is the Lord’s, and everything in it.”

God owns it all—your money, house, gifts, even your ideas.
You’re not the owner. You’re the steward.

Action Steps:

  • Shift from ownership to stewardship
  • Ask God how to manage what He’s entrusted to you
  • Use wealth to glorify God, not just yourself

Quote:

“When we see money as God’s, we handle it differently—with purpose, peace, and power.”


2. Diligence and Hard Work Bring Prosperity

Proverbs 10:4 – “Lazy hands make for poverty, but diligent hands bring wealth.”

Financial laziness is mental, physical, and spiritual.
Avoid laziness in planning, learning, and building wealth.

Example: Oprah Winfrey built a global empire through diligence—not luck.
Biblical Application: Psalms 1:3 – “Whatever he does prospers.”

Faith + Action = Prosperity

Action Steps:

  • Show up early. Learn. Network. Execute.
  • Serve God in your work, not just in church.
  • Work is worship when done with purpose.

3. Avoid Debt and Live Within Your Means

Proverbs 22:7 – “The borrower is slave to the lender.”

Debt leads to anxiety, stress, and missed opportunities.
God’s people are called to financial freedom.

Real-World Example:
Chris Hogan teaches the power of debt-free living in Everyday Millionaires. These everyday millionaires became wealthy by saving. They also budget carefully and avoid debt.

Action Steps:

  • Budget with a plan, not emotion
  • Buy only what you can afford
  • Practice the “banana principle”: Don’t chase what’s ripe today but rotten tomorrow.

4. Tithing and Generosity Invite God’s Blessing

Malachi 3:10 – “Bring the whole tithe… see if I will not throw open the floodgates of heaven.”

Generosity invites God into your finances.

Real-World Example:
Bill Gates’ philanthropy helped eradicate diseases and feed nations. He gave to bless, and the blessing multiplied.

Action Steps:

  • Tithe as an act of faith
  • Give beyond money—give time, wisdom, love
  • Be a blessing to others

5. Invest and Multiply What God Gives You

Matthew 25:14–30 – Parable of the Talents

God expects you to grow what He gives you. Don’t bury your potential.

Real-World Examples:

  • Warren Buffet invests long-term with wisdom and restraint
  • Ray Dalio succeeds through planning, research, and principles

Action Steps:

  • Start small—just start
  • Learn to invest: stocks, skills, businesses
  • Multiply resources for Kingdom impact

6. Practice Contentment—Avoid the Love of Money

1 Timothy 6:10 – “The love of money is the root of all evil.”

Wealth is a tool, not a goal.

Real-World Example:
Dave Ramsey lives and teaches contentment after rebounding from financial failure. He preaches peace over pressure.

Action Steps:

  • Be content with what you have
  • Avoid comparison and consumerism
  • Focus on eternal rewards over earthly riches

🎯 How to Apply These Biblical Money Foundations Today

✅ Recognize that God owns everything
✅ Be diligent and hardworking
✅ Avoid debt and impulse purchases
✅ Tithe and give generously
✅ Invest wisely
✅ Practice contentment daily


Watch Full Teaching on YouTube

👇Watch this full video breakdown with real-life case studies and extra teaching only on Faith & Fortune Finance:


Conclusion

God’s financial principles aren’t just spiritual—they’re practical. Apply them and you’ll see peace, purpose, and prosperity flow into every area of your life.

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Finance & Business

As Nigerians Battle Pains Of Soaring Petrol Price

This is more than just about fuel; it’s about the larger picture of governance failure. The fact that a country as oil-rich as Nigeria can’t provide affordable fuel for its people is a tragedy.

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BY IFEANYI MOGBOLU

The Daily Times-The latest fuel price hike in Nigeria is beyond frustrating. Every time we think it can’t get worse, it does, and yet again, ordinary Nigerians bear the brunt of it.

It’s like a never-ending cycle, where the government’s promises of reforms or stabilisation always end up as empty rhetoric. The cost of living is already sky-high, and now, with fuel prices rising again, transport fares, food prices, and basic commodities are bound to follow suit.

It’s enraging because it doesn’t feel like anyone is truly considering the everyday citizen who is struggling just to survive.

This is more than just about fuel; it’s about the larger picture of governance failure. The fact that a country as oil-rich as Nigeria can’t provide affordable fuel for its people is a tragedy. The subsidies are gone, and now we’re left in a situation where the prices of everything keep climbing, while salaries remain stagnant or non-existent for many.

The disparity between the elites and the masses is growing, and it feels like nobody in power truly cares about the suffering of the people.

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The anger isn’t just about fuel; it’s about the entire state of living. Nigerians are exhausted. There’s no sense of security; power supply is erratic, basic infrastructure is crumbling, and inflation is at an all-time high. How do we live like this? Every day is a battle to make ends meet, and the government seems utterly disconnected from the struggles on the ground.

It’s infuriating that while politicians and elites live in luxury, the rest of us are left scrambling for the bare minimum. The state of living is unbearable, and the lack of empathy or real action from those in power only adds salt to the wound.

There’s a deep sense of anger and betrayal that comes with seeing your country’s wealth mismanaged, while the people continue to suffer. It’s hard not to feel like we are constantly being taken for granted, pushed further into hardship without any hope of relief. Something has to give, because this state of affairs is unsustainable.

QUOTE:

The anger isn’t just about fuel; it’s about the entire state of living. Nigerians are exhausted. There’s no sense of security; power supply is erratic, basic infrastructure is crumbling, and inflation is at an all-time high. How do we live like this? Every day is a battle to make ends meet, and the government seems utterly disconnected from the struggles on the ground. It’s infuriating that while politicians and elites live in luxury, the rest of us are left scrambling for the bare minimum.

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Finance & Business

Nigeria To Receive $5.600,000 From Bill Gates, For Health And Agricultural Reforms, GMOs

Alongside the activities surrounding the 79th United Nations General Assembly in New York, Vice President Kashim Shettima held a meeting with the Bill and Melinda Gates Foundation leading to the announcement of the donation by the Foundation’s head of Global Development.

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Bill Gates, GMOs, KASHIM Shettima

Bill and Melinda Gates Foundation is giving Nigeria through Vice President Kashim Shettima, a $5.600,000 funds to speedy up health and agricultural reforms in favour of the GMOs in Nigeria, and flood relief.

Through the Foundation’s head of Global Development Programme, Dr Christopher Elias, Bill Gates pledged $5 million grant approved for Lagos Business School and partners to develop the agricultural economics they called “industrial cassava” and $600,000 for flood relief in Borno State and other health sector initiatives.

Alongside the activities surrounding the 79th United Nations General Assembly in New York, Vice President Kashim Shettima held a meeting with the Bill and Melinda Gates Foundation leading to the announcement of the donation by the Foundation’s head of Global Development.

Recall that on 4 September, Bill Gates had described the Nigeria’s economy as “stagnated” and proposed agricultural reforms for faster and increased growths in crops, fruits, vegetables amongst others to enhance nutritional values of the Nigerian citizens through the agricultural sector.

In that meeting Chaired by Vice President Kashim Shettima, Bill gates urged Nigeria to adopt “innovative crop varieties with shorter growing periods, higher yields, and better pest resistance” pointing to the GMOs to address the food crisis.

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Moreover, at the 79th UN General Assembly in New York, VP Shettima reaffirmed to the Bill and Melinda Gates Foundation, the commitment of the administration of President Bola Ahmed Tinubu prioritizing health, nutrition, and agricultural development in Nigeria’s national agenda.

In a statement by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, Shettima said: “we are deeply committed to addressing the pressing developmental challenges facing our nation, particularly the significant malnutrition crisis”.

He emphasised the Federal Government’s dedication and urgently working to secure locations for maize production under the Telemaze programme.

VP Shettima, promising swift action to the Gate’s Foundation on import permits for certified seeds, the VP said, “We recognize the critical importance of food security and industrial agricultural development. The Cassava Accelerator programme, in particular, holds immense potential for our economy.

“We are pursuing a whole-of-government approach to digitisation and data exchange systems, which we believe will revolutionise our public services,” he added while reiterating the government’s focus and commitment to digital transformation.

“With the expertise” of Nigeria’s ministers, “and the continued support of partners like the Gates Foundation,” the nation remains confident in its “ability to drive meaningful change and improve the lives of all Nigerians.”

In his response, President of the Global Development Programme at the Gates Foundation, Dr. Christopher Elias, said the Foundation is burdened with worries of the severe flooding in Borno, and is “committed to supporting Nigeria in times of crisis.”

Speaking of Polio, the Foundation said, “We’re impressed by the national task force’s efforts to eliminate variant polioviruses by year-end,” Dr. Elias noted.

Also, President of Global Growth & Opportunity Division at the Bill & Melinda Gates Foundation, Rodger Voorhies, detailed plans for scaling up drought-tolerant maize production and advancing the Nigeria Cassava Investment Accelerator programme emphasizing that a $5 million grant has been approved for Lagos Business School and partners to develop the agricultural economics of industrial cassava.

In his words, “Industrial cassava presents a multi-billion-dollar opportunity for Nigeria,” Voorhees stressed.

He requested import permits for 5,000 metric tons of certified GMO maize seed to build a foundation seed system in Nigeria.

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