• NNPCL reveals it has $6 billion debt to petrol suppliers
• Power generation was reduced by 1,400MW after Discos refused allocations
• Bill Gates reveals that Nigeria has the second-highest rate of food insecurity
• Dangote Refinery’s petrol set for roll-out
• Resident Doctors suspend the strike on September 2

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.

NNPCL reveals it has $6 billion debt to petrol suppliers

The NNPCL confessed to being in significant debt to petrol suppliers, which could no longer be overlooked. 

According to reports, the NNPCL’s debt to suppliers is over $6 billion, stating that the amount doubled from April 2024 due to the chaotic foreign exchange rate and NNPCL’s need to close the gap between the official fixed pump price.

The NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, revealed in a statement that the financial strain which NNPCL had found itself in could be a potential threat to the pump price for all Nigerians who have been buying fuel at the rate of ₦617/litre.

He stated that the fuel price could be hiked up to ₦950 or ₦1,000 per litre while they develop other solutions to solve the financial strain.

Power generation was reduced by 1,400MW after Discos refused allocations

Electricity distribution companies have declined to off-take the power allocated to them, which has led to a decrease in power generation.

The Minister of Power, Adebayo Adelabu, lamented the refusal of power by electricity distribution companies, as he claimed that power generation peaked at 5,170MW on August 30. However, it ramped down by 1,400 because of the inability of the Discos to pick the supply.

The Minister stated that the incident was regrettable as the government had intended to increase power generation to 6,000 megawatts by the end of 2024.

Bill Gates reveals that Nigeria has the second-highest rate of food insecurity

Founder of Microsoft and Co-Chair of the Bill & Melinda Gates Foundation, Bill Gates opened up in an interview on the state of nutrition in Africa, including Nigeria.

The philanthropist stated he co-founded his foundation to combat the worsening economic, health, and education opportunities for less-privileged children and families in Africa. He commended the African leaders, particularly the Nigerian leader, for tackling these issues.

When asked about how he planned to address the nutrition deficit in Nigeria today, Bill Gates revealed that the country had the second highest rate of food insecurity in the world as prices for staple food have been hiked, creating more hungry victims in Nigeria.

“We are working closely with the government and private sector to formalise and expand on bouillon fortification with iron, folic acid, B12, and zinc so it can do even more good. There are so many promising solutions to improve nutrition. And by embracing them, Nigeria can save many lives,” he said.

Dangote Refinery’s petrol set for roll-out

The Dangote Petroleum Refinery is officially ready to roll out its petrol sale after going through a test run of the petrol product.

Sources within the 650,000-capacity refinery have announced that the petrol from the Dangote Refinery would hit the market very soon as the price and distribution of petrol were being discussed between Dangote Petroleum Refinery and the government.

Resident Doctors suspend the strike on September 2

The National Association of Resident Doctors (NARD) has officially called off their strike today, September 2, after its seven-day nationwide warning strike.

The resident doctors in Nigeria announced that they would go on a week-long warning strike to get the government’s attention on rescuing their fellow kidnapped colleague, Dr Popoola Ganiyat, who has been held hostage for eight months.

The NARD claimed that despite its decision to call off its strike today, it would review the government’s actions and efforts in finding and rescuing their colleague within the next three weeks.