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Local Refineries Still Await Crude Oil in Naira Following Tinubu’s Directive

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Dangote Refinery and other local refineries have yet to acquire crude oil in Naira, despite a recent directive from President Bola Ahmed Tinubu.

Eche Idoko, the Publicity Secretary of the Crude Oil Refiners Association of Nigeria, revealed this information in a statement issued on Tuesday.

Idoko explained that, following the President’s directive last week, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) was expected to initiate the process.

However, the refineries have not yet begun purchasing crude from the Nigerian National Petroleum Company (NNPC). While individual refinery members have submitted requests to NNPC, no progress has been made in this regard.

Idoko also pointed out that the usual protocol would involve the NMDPRA organizing a meeting with all relevant stakeholders to establish a framework for crude oil supply.

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Alternatively, NNPC would need to address the numerous requests from the refineries for crude.

Last month, President Tinubu instructed NNPCL to provide crude oil to the Dangote Refinery, which has a capacity of 650,000 barrels per day, along with other local refineries.

This directive was aimed at ensuring the country meets its domestic production target of 450,000 barrels per day, as stipulated by the Petroleum Industry Act.

The President’s intervention was intended to resolve the ongoing crude supply issues faced by the Dangote Refinery.


 

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Hamster Kombat Unveils Anti-Cheating Plan

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Hamster Kombat has introduced a new anti-cheating strategy to ensure fair play and protect dedicated players. The initiative targets those attempting to manipulate the game for extra benefits, issuing a “cheating is bad” warning that could affect their positions for the airdrop distribution on September 26. The team emphasized the importance of rewarding honest players and creating a secure environment.

As Season 1 of the Telegram-based Web3 game ends on September 20, Hamster Kombat will take a snapshot of the game’s activities to determine airdrop eligibility. The game, which has over 300 million users, is focused on maintaining fairness ahead of its upcoming Season 2 launch.


 

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Binance Launches ‘Moonbix’ on Telegram

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Binance announced the upcoming launch of “Moonbix,” a play-to-earn (P2E) game on Telegram’s Mini App. In this game, players explore galaxies, collect items, and earn crypto rewards. Although the game leaked early, Binance is fine-tuning it for an official release and warned users to stay cautious of impersonation scams.

Telegram Mini Apps, introduced in 2023, have seen massive engagement, with popular apps like Hamster Kombat driving crypto adoption. Telegram’s integration with The Open Network (TON) has further contributed to this growth.


 

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Nigeria Earned $1.2bn from Telecom Licenses, Says Obasanjo

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The Federal Government generated around $1.2 billion from telecom license fees during the early stages of mobile technology in Nigeria, with major operators like MTN, Globacom, Econet (now Airtel), and Etisalat (now 9mobile) contributing to the sum.

These fees were instrumental in laying the foundation for the country’s telecom industry, which officially began in 2000.

The sector has since become a key driver of Nigeria’s economic growth.

Former President Olusegun Obasanjo highlighted this achievement during a book launch held in Lagos on Tuesday.

He reflected on how the licensing of these operators marked a pivotal moment in Nigeria’s technological and economic development, allowing the country to leap into the era of mobile communication.

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Obasanjo acknowledged the critical role these funds played in shaping the telecom industry, which has become one of the most significant sectors in the nation’s economy today.

The successful auction of these telecom licenses provided the capital necessary to build the infrastructure and networks that have connected millions of Nigerians, driving economic activity and fostering innovation across various industries.


 

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