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FG To Integrate Over 20% Unbanked Nigerians Into Banking System — Shettima

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The Federal Government has announced plans to integrate over 20 per cent of unbanked Nigerians into the banking system, aiming to reduce financial exclusion to a minimum of five per cent.

Vice President Kashim Shettima disclosed this in Abuja on Thursday at the beginning of a two-day National Stakeholders’ Workshop on Economic and Financial Inclusion. Shettima highlighted that currently, over 20 per cent of Nigerians are financially excluded, and the government aims to significantly reduce this number.

The 14th Emir of Kano and former Governor of the Central Bank, Sanusi Lamido, pointed out at the event that financial exclusion contributes to security challenges such as banditry, as many rural dwellers lack access to efficient payment systems.

The workshop focuses on integrating the unbanked Nigerian population into the formal financial system. Participants include experts from various sectors, including the Central Bank Governor, Olayemi Cardoso, traditional rulers, and private sector players.

Ahead of the workshop, the Deputy Chief of Staff to the President, Senator Ibrahim Hadejia, emphasized the Federal Government’s commitment to tackling poverty and insecurity through financial inclusion. Hadejia stated that economic and financial inclusion are vital components of President Tinubu’s agenda to integrate the underserved and unbanked into the formal financial system.

Hadejia further explained, “Economic and financial inclusion are essential components of President Tinubu’s agenda to assist in integrating the underserved and unbanked into the formal financial system. This will enable Nigerians to access a range of financial services at a reasonable cost.”

President Bola Tinubu has approved the launch of the first phase of the Consumer Credit Scheme (CCS) to empower Nigerians to improve their quality of life by accessing goods and services. His Special Adviser on Media and Publicity, Ajuri Ngelale, described the CCS as crucial for facilitating important purchases such as homes, vehicles, education, and healthcare, which are essential for Nigerians to pursue their aspirations.

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UPDATE: Dangote Refinery Cuts Fuel Prices, Updates Petrol Supply

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Dangote Refinery has announced a nationwide petrol price cut, ahead of the launch of its direct fuel distribution initiative now set for Monday, September 15, 2025.

Originally scheduled for August 15, the initiative will see the $20 billion, 650,000 bpd refinery deliver petrol and diesel directly to consumers using 4,000 CNG trucks, with zero logistics cost.

Despite an ongoing dispute with NUPENG, Dangote Group released a fresh price template on its X account, confirming its gantry price remains N820 per litre.

Retail prices have dropped to N841 per litre in Lagos and the South-West (from N860), and N851 per litre in Abuja, South-South, and North Central states (from N885)—a reduction of N19 to N34 per litre, depending on the location.

The new prices apply only to MRS and Dangote’s official distribution partners, as independent marketers are not bound by the template.

Meanwhile, NUPENG has threatened a fresh strike, accusing Dangote of reneging on earlier agreements—a claim the company denies, affirming workers’ right to union membership.

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Dangote Refinery Mgt Says Workers Union Membership is Personal Choices

It urged NUPENG to focus on resolving its internal dispute with the Petrol Tanker Drivers unit rather than “embroiling the refinery in its conflicts.

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Dangote Petroleum Refinery has said membership of trade unions by its employees remains voluntary and not compulsory, in line with the Nigerian Constitution and International Labour Organisation conventions.

In a statement made available to Ohibaba.com, the company accused what it described as “distortions of facts” by the Nigeria Union of Petroleum and Natural Gas Workers concerning its trade relations with workers.

The refinery stressed that it does not interfere with or restrict employees’ right to freely join legally recognised unions.

“It is therefore misplaced to attribute responsibility to Dangote Petroleum Refinery for the personal choices made by drivers regarding union affiliation,” the company stated.

Dangote dismissed allegations that it forced drivers to sign contracts barring union membership, describing the claim as unfounded.

It urged NUPENG to focus on resolving its internal dispute with the Petrol Tanker Drivers unit rather than “embroiling the refinery in its conflicts.

”The company added that accusations of union suppression formed part of a broader attempt to undermine private sector progress.

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NUPENG Dangote Union Memberships Agreement Collapses: What Happened Again?

Akporeha alleged that within 48 hours, Dantata ordered drivers to strip NUPENG stickers from their vehicles and forcefully enter the refinery in violation of union loading procedures.

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The agreement between the Nigerian Union of Petroleum and Natural Gas Workers and the Dangote Petroleum Refinery has collapsed, and here’s why.

The confrontation follows allegations by NUPENG that the Dangote Group reneged on a Memorandum of Understanding signed earlier this week, under which the refinery agreed to allow tanker drivers and other workers to freely unionise.

On Thursday, NUPENG’s National President, Williams Akporeha, accused Sayyu Aliu Dantata, a cousin of Aliko Dangote and key player in the refinery’s trucking operations, of defying the resolution reached on September 9 at the Department of State Services headquarters in Abuja.

The meeting, mediated by the Minister of Labour and Employment, Muhammadu Dingyadi, affirmed the rights of Petroleum Tanker Drivers under NUPENG to unionise. Representatives of the Nigeria Labour Congress, Trade Union Congress, DSS, and other agencies witnessed the signing of the MoU.

But Akporeha alleged that within 48 hours, Dantata ordered drivers to strip NUPENG stickers from their vehicles and forcefully enter the refinery in violation of union loading procedures.

“Alhaji Sayyu Aliu Dantata flew over them several times with his helicopter and then called the navy of the Federal Republic to come over ostensibly to crush the union officials. Our members are waiting for him and his agents to run them over,” Akporeha said in a statement.

The union condemned what it described as Dantata’s “impunity” and warned the Federal Government not to allow security agencies funded by taxpayers to be used against workers.

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