₦airaland Forum

Goodcitizen99:
Lagos is a great State no doubt 💯 but this recent tribalism it's about to about to dabble into cos of selfish politicians will ruin it 💯

iwaeda:
How much is Bread in your area?

senatordave1:
True but I suspect he has gone to a civil court to institute a fresh case

senatordave1:
He won't till the apex court rules

uba1991:
why am I reply this slowpoke?
Gerrout!!!!

uba1991:
mumu! Who told you that it is underfunded? google and see military universities in the whole world. Is Nigeria army the first military to have a university?

ubimagos:
And then wait for his impeachment process.

uba1991:
wao! Now I know I am talking to compound fool. Do you know that there are education personnels in the military?

bjdon:
This has NOTHING to do with Tinubu. NLNG is a private company that govt has a stake in. It's operations are not directed by govt, and govt does not get to appoint it's management team. That is why it's a successful company that actually delivers to the Nigerian economy, unlike the corruption driven NNPC

senatordave1:
Daily Trust reports that the Speaker of the state assembly, Gabriel Daweng, refused to swear in the 16 All Progressives Congress (APC) and Labour Party members as lawmakers on January 23, arguing that he had received court process and asked them to wait until the court made a determination.

https://dailytrust.com/plateau-a-court-fines-sacked-pdp-lawmakers-n128m-for-seeking-judgment-review/?utm_term=Autofeed&utm_medium=Social&utm_source=Facebook&fbclid=IwAR2nRdW6lToDF0DcwqX4H6EqrQX4qIgDA45wGBZOUvgcYXnp93NMrvNBWOU#Echobox=1709083789

uba1991:
the way some of you think I don't know if you have anything in that skull.
So the university is now a waste of money.
I am not surprised to see how dumb is Tinubu.
Imagine if Tinubu wake up tomorrow and appoint this fool as an adviser just because he is a Yoruba man, is this the kind of advice he give the drug Barron?

bilms:
Dumb post

Paraman:
The Nigeria Liquefied Natural Gas Limited, on Wednesday, announced that its annual production of Liquefied Petroleum Gas, popularly called cooking gas, has increased to over 1.5 million metric tonnes.

It also announced that the whole 1.5million tonnes production was being sold in Nigeria, adding that the company had started supplying LPG in naira, as against the usual sale of gas in the United States dollars.

https://punchng.com/nlng-grows-lpg-production-to-1-5million-tonnes-begins-naira-sale/?amp

The Nigeria Liquefied Natural Gas Limited, on Wednesday, announced that its annual production of Liquefied Petroleum Gas, popularly called cooking gas, has increased to over 1.5 million metric tonnes.

It also announced that the whole 1.5million tonnes production was being sold in Nigeria, adding that the company had started supplying LPG in naira, as against the usual sale of gas in the United States dollars.

Operators in the oil and power sectors have repeatedly advocated the sale of LPG or Liquefied Natural Gas in naira, especially since the crash of the local currency against the dollar.

The call for naira transactions has also been extended to the sale of crude oil. LNG and crude oil are currently sold in dollars to both international and domestic buyers.


Speaking at a panel session during the ongoing 7th Nigeria International Energy Summit in Abuja, the General Manager, Finance, NLNG Limited, Fatima Adanan, said the multi-billion dollar firm had ramped up its LPG production to 1.5 million metric tonnes and was supplying all of it to the Nigerian market.

She said the “NLNG is selling LPG in naira,” to deepen cooking gas penetration across the country.

She said, “When we started we were producing 70,000MT, today we are producing upwards of 1.5million MT of LPG and for this LPG, our sole designated distribution point is Nigeria. So part of our vision as a company is to make sure that we make Nigeria a better place.


“As a people, we are the ones to make our country better and for us, we are starting with LPG and we are campaigning to move it into the market. The 1.5million MT is our own production as at 2023.”

She, however, noted that Nigeria required a lot more and so cooking gas importation had been ongoing.

“But as NLNG we will work harder to provide more LPG in such a way that the people who are using charcoal and biomass to cook, we have a trajectory that in the next two, three years we should have at least 40 per cent penetration by changing the energy mix in Nigeria from coal, biomass to using gas, which is cleaner.

“In the long run, that will address some of the climate goals. Our intention may not be to alleviate the climate goals, rather to make Nigeria better. But in doing that we are going to also impact the climate goals which is important,” Adanan stated.

Reacting to the remarks by Adanan, the immediate past Chief Executive of the NLNG, who anchored the panel session, Tony Attah, described the 1.5million metric tonnes LPG production by the firm as a worthy milestone.

He, however, revealed that studies showed that Nigeria required about five million metric tonnes annually, adding that the balance was being completed through LPG imports.

NLNG shareholders include the Nigerian National Petroleum Company Limited, which represents the Federal Government and holds the largest shareholding at 49 per cent; while Shell Gas B.V., a subsidiary of Shell Plc, holds 25.6 per cent.

TotalEnergies Gaz & Electricité Holdings owns 15 per cent of the shares, while Eni International holds the remaining 10.4 per cent.


This ownership structure is unique in the Nigerian oil and gas industry, as NLNG is an independent incorporated joint venture. This means that it has its own board of directors and management team, separate from the individual shareholders.

Speaking further on what the multi-billion dollar company was doing to ensure cooking gas penetration, Adanan said, “What NLNG has committed to do is to make LPG available in-country.

“So even though our requirement in Nigeria is much larger than what we are producing at the moment, the NLNG is growing and as we grow, we will be able to produce more and make it available for utilisation by Nigerians.”

She called for the education of women on the use of gas and urged the Federal Government to champion this, adding that such campaign would enable more rural women to move away from charcoal and biomass.

On concerns about the high cost of cooking gas, the NLNG official explained that though the cost of the commodity produced by the plant was cheaper, a larger percentage of the product was being imported by marketers at higher rates.

This, according to her, might be reason for the high cost of cooking gas, because marketers would price the product based on the cost of the imported one, particularly since NLNG supplies its 1.5million metric tonnes to marketers and not directly to end users.

Fatimah, however, stated that the company was working out ways to get its product to users on the street, though this could take some time to manifest.

Last week, The PUNCH reported that the Federal Government was working to ban the exportation of cooking gas, in a bid to increase its volume domestically to warrant a crash in price.

The government stated that LPG producers in Nigeria and key stakeholders in the industry had been told to stop exporting the commodity out of Nigeria, following the recent jump in the cost of cooking gas.

Findings showed that the cost of refilling a 12.5kg cylinder of cooking gas in Abuja, Lagos, Kano and some other states had climbed to about N18,000. It was specifically N17,500 in Abuja last week, a product that sold for less than N9,000 in November last year.

LPG dealers under the aegis of the Nigerian Association of Liquefied Petroleum Gas Marketers had predicted mid-last year that a 12.5kg cylinder would cost N18,000 going by the incessant hikes in its cost.

To tackle this, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, constituted a committee in November 2023, headed by the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed.

But up till today, the cost of the commodity has maintained a northward movement, as many LPG users are gradually shifting to the use of charcoal.

But while speaking on the sidelines of the internal stakeholders’ workshop in last week, Ekpo stated that the Federal Government had asked LPG producers to stop exporting the commodity.

LegendHero:
Fake news.

Naira is 1500 and below.

ivolt:
I am seeing dollars up there.
Have we started spending dollars in Nigeria?

DevilsEqual:
So how much is the FX exchange in open market?


for those who bought at a high price and and would prolly sell now, would that result in a gain for them or a loss??


No be say u dey wail but that guy is talking about the moment but your comment is totally off

Ykc2:
when ibeto cement was asked to stop producing because of than what happend? Nothing

It announced this at the ongoing 7th Nigeria International Energy Summit in Abuja, where President Bola Tinubu also provided some explanations on why his government had to remove petrol subsidy despite how difficult it was.

Providing a couple of status reports on Nigeria’s gas sector, during his remarks at the summit, the Minister of State for Petroleum Resources, Gas, Ekperikpe Ekpo, described the OB3 gas pipeline as one of the biggest gas transmission systems in both Nigeria and Africa.

“Another milestone in our journey towards a gas-focused economy is the Ajaokuta-Kaduna-Kano pipeline. I am pleased to report that significant progress has been made in the construction of this critical infrastructure project, and we are on track to ensure its completion and commissioning as scheduled.

“The Obiafu/Obrikom/Oben (OB3) is a vital piece of gas infrastructure for the supply of feedstock to the AKK pipeline. This pipeline is among the biggest gas transmission systems in both Nigeria and Africa.

“I am highly elated to announce that going by the contractor estimates, the OB3 pipeline will be completed by March 2024 and the 42” 127km pipeline will supply 2BCF (two billion standard cubic feet) per day,” the minister stated.

Ekpo noted that upon completion, the pipeline would supply the AKK pipeline with gas from the three fields of Obiafu, Obrikom and Oben, as he commended NNPCL for its steadfastness in ensuring a timely completion of the OB3 pipeline project.

The estimated cost for constructing the OB3 gas pipeline is $700m. The project started sometime in 2016, and is also known as the East-West Pipeline.

It connects the Obiafu-Obrikom gas plant near Omuku, Rivers State, to Oben, Edo State and is to transport two billion standard cubic feet of gas per day.


Representing Tinubu, before declaring the summit open, the Minister of Information and National Orientation, Mohammed Idris, stated that the petroleum subsidy had over the years strained Nigeria’s economic resources.

This, he said, led to inefficiencies and, most importantly, “hindering our ability to invest in critical areas of energy security.”

Tinubu, whose speech was read by the minister, said, “By removing the subsidy, we are creating a more transparent and accountable energy sector. The funds that were previously allocated to subsidising petroleum products are now redirected towards developing and upgrading our energy and other social infrastructure.

“Furthermore, the removal of the subsidy has encouraged further private sector participation in the energy industry with potential of attracting more local and international investors, fostering innovation and competition that will drive down costs and improve the overall efficiency of our energy sector.

“I am acutely aware of the immediate impact this decision may have had on our citizens, especially those with lower incomes. Therefore, in parallel with the subsidy removal, my administration is committed to implementing social intervention programmes to mitigate the short-term effects on vulnerable populations.”

He said the programmes would ensure that the burden of the subsidy removal was shared equitably and that the most vulnerable persons were protected.

“The decision to remove the petroleum subsidy is not an easy one, but it is a necessary one for the long-term energy security and economic prosperity of our beloved nation.

“I call upon all stakeholders, including industry experts, policymakers, and the general public, to engage in constructive dialogue and collaboration as we navigate these challenging but transformative times,” the President stated.

Tinubu had declared on May 29, 2023, that fuel subsidy was gone, during his inaugural speech. This was implemented the next day by NNPCL, the sole importer of petrol into Nigeria.

nesphil:
Story for the gods.
Believe them at your own peril.

Ykc2:
keep fooling your self the apapa port in lagos is like mini northern nigeria go there and see what northern customs are doing there

Ykc2:
let's imagine edo state capital of Nigeria from time immemorial then warri nigerian port city I swear lagos will be just like another ondo or osun state also south westerners should also give thanks and praises to God's of their land that northerners are not connected to the Atlantic ocean had been that northern nigeria is connected to Atlantic ocean is game over for lagos,do you know why northerners don't want other ports in SS to work ? Is their joker against South west if south west don't want to dance to their tune they will make other ports working,let them build one international airport in the south east where all European airline can land and take off you will feel it at muritala Mohammed lagos,we know what is going on in nigeria,if they can move capital to Abuja what is ordinary port if they are connected to Atlantic ?

free234free:
I remember good old day when vice president or presidents where respected. U only see them on nta news or on news papers. To see gov sef na way.

Now look at this trash having easy access to a whole vice presido.
Fucking fraudster disguising with barman. FBI hand go touch am soon

lazkizz:
Wahala... tinubu is really challenging the northern elite

Ykc2:
other state needs to upgrade bla bla ask other state to take their oil and gas build infrastructures by them selves you will other understand that lagos is not better than ondo you guys should stop pretending like you don't know what moving lagos