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September 4, 2024 Tinubu Meets President Xi Jinping in China, Pursues Strategic Partnership

Tinubu Meets President Xi Jinping in China, Pursues Strategic Partnership

On Tuesday, President Bola Tinubu held talks with Chinese President Xi Jinping in Beijing, China. Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, revealed in a statement that the meeting resulted in the elevation of Nigeria-China relations to a comprehensive strategic partnership. The two leaders committed to establishing a high-level Nigeria-China community with a shared future.

"This visit is significant for Nigeria and the rest of Africa, especially as I come in my capacity as the Chairman of ECOWAS. I appreciate the high level of honor extended to us," Tinubu remarked. He highlighted that the relationship between China and Nigeria has endured for over 50 years and should be further strengthened to enhance trade and economic development.

Tinubu emphasized Nigeria's potential as Africa's most populous nation and largest economy, driven by a youthful population capable of propelling economic growth and cross-sectoral initiatives. He stated, "We have upgraded the relationship to a comprehensive developmental partnership, which should lead to significant development, stability, and security in the West African sub-region."

The Nigerian President also discussed his administration’s economic reforms, assuring President Xi of Nigeria’s commitment to sustainable growth through the diligent implementation of these reforms. "We recognize the need to reform our economy, and we are actively doing so across various sectors, including tax and tariff reviews," Tinubu noted. He assured that trading and investment partners would have seamless access to bring in their investments and repatriate their resources.

President Xi, in response, acknowledged the strong mutual understanding between Nigeria and China over the past five decades of diplomatic relations. He emphasized the importance of unity and win-win cooperation, stating that as major developing countries, China and Nigeria's strengthened strategic coordination will infuse new energy into China-Africa relations and foster collective progress among Global South countries.

Xi also highlighted the upcoming 2024 FOCAC Summit as an opportunity to reflect on and enhance China-Africa relations. He assured that China and Nigeria would continue to collaborate closely within the FOCAC framework, setting an example of cooperation between nations.

 

September 4, 2024 NLC Demands Immediate Reversal of Fuel Price Hike

NLC Demands Immediate Reversal of Fuel Price Hike

The Nigeria Labour Congress (NLC) on Tuesday issued a strong demand for the immediate reversal of the recent fuel price hike announced by the Nigerian National Petroleum Company Limited (NNPCL). The NLC emphasized that the increase has exacerbated the already dire conditions faced by Nigerians.

In the midst of ongoing fuel scarcity, the NNPCL raised the pump price of petrol from ₦568 to between ₦855 and ₦897 per litre, depending on the location. The NLC, through its president, Joe Ajaero, expressed deep disapproval of this move, accusing the Federal Government of betraying the trust of the labor movement.

“We demand the immediate reversal of the latest increase in the pump price of PMS across the country,” Ajaero stated. He also called for the release of all individuals currently detained or facing prosecution for allegedly participating in recent protests.

Ajaero further demanded an end to the indiscriminate arrest and detention of citizens on what he described as "trumped-up charges," the reversal of the 250% electricity tariff hike, and a halt to the government's overreach into the duties of the Ministry of Labour and Employment.

The NLC President concluded by urging the government to cease policies that contribute to hunger and insecurity, to stop the culture of fear, terror, and dishonesty, and to focus on safeguarding the nation's sovereignty, integrity, and the welfare of its people.

READ ALSO: NNPC Increases Fuel Pump Price To N897 Per Litre

September 3, 2024 NNPCL Finalizes Agreement to Sell Crude to Dangote Refinery in Naira

NNPCL Finalizes Agreement to Sell Crude to Dangote Refinery in Naira

The Nigerian National Petroleum Company Limited (NNPCL) has finalized an agreement to sell crude oil to Dangote Petroleum Refinery in Naira, according to a statement by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on its X handle, @NMDPRA_Official.

The agreement allows the NNPCL to begin supplying crude oil to Dangote Refinery in local currency. The refinery is set to deliver an initial 25 million liters of Premium Motor Spirit (PMS) daily to the domestic market starting in September 2024, with plans to increase this to 30 million liters per day by October.

September 3, 2024 NNPC Increases Fuel Pump Price To N897 Per Litre

NNPC Increases Fuel Pump Price To N897 Per Litre

Just two days after announcing that soaring petrol prices had pushed it into over $6 billion in debt, the Nigerian National Petroleum Corporation (NNPC) Limited has raised its pump price from N617 to N897 per litre—an increase of more than 45 percent.

The new prices were observed at NNPC retail stations in Abuja. When contacted, the company’s Chief Communications Officer, Olufemi Soneye, claimed he was unaware of the price hike and had no comment on the matter. He assured that any updates would be communicated in due course.

Earlier, an unverified social media message hinted at the price increase, stating: “Good morning. NNPC Retail Management has approved a new PMS pump price of N897 per litre, effective today, 3rd September 2024. Please update all pumps and price boards accordingly. Thank you.”

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