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FG Reduces Gas To Power Price From $2.50 To $2.18 - Politics - Nairaland

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FG Reduces Gas To Power Price From $2.50 To $2.18 by neztar: 3:05am On Jul 30, 2021
The Federal Government has on Thursday reduced gas to power prices from $2.50 to $2.18 with immediate effect.

President Muhammadu Buhari disclosed this while declaring open the 2021 Gas Sector Stakeholders (Ajaokuta-Kaduna-Kano, AKK Gas Pipeline Project) Forum held in Kano.

Buhari represented by Minister of State for Petroleum Resources, Timipre Sylva, said the reduction have been communicated to the relevant stakeholders for compliance.

According to him, “Following the successful negotiation between the Federal Government and the organized labour unions and the detailed review of the Gas pricing framework in Nigeria, the price of Gas to power has been reduced from $2.50 to $2.18 with immediate effect.

“The outcome of the negotiation and reviews have been communicated to relevant stakeholders,” he stated.

The President said the completion of the project would help in revitalizing the industries and create more jobs opportunities in the benefitting states which include kano, Kaduna and Nasarawa states.

“The project is the focus on facilitating increase Gas Penetration in the Northern part of the country, especially the AKK pipeline corridor of FCT, Kano, Kaduna, Kogi, Niger, Nassarawa and other
Neighboring states.

“Therefore the forum is geared towards sensitizing the entire northern parts of Nigeria of the upcoming opportunities to bring both new and hitherto moribund companies back to life.

“Kano State alone is dotted with several industrial parks. These and others in other states justify the need to optimize value creation from these industries.

“Experts estimate that it will take at least two to three years to rehabilitate and position these industries for optimal performance. Thus, today’s collaboration with all stakeholders is geared towards kick-starting the required activities that will guarantee full usage of the delivered gas through the AKK pipeline when completed.

“Today’s event reinforces our commitment to realizing the inherent potentials of Gas usage as the National Catalyst for Achieving Economic Diversification from Crude oil and transition fuel from fossil fuels of today to the renewable energy of tomorrow.

“It is this commitment that informed our support and commission of two gas-powered plants, vessel pipeline operated in Kano State in December 2020 in achieving the uninterrupted delivery of over 30 megawatts of power supply to the industrial hubs.

“Our successful collaboration and the completion of the AKK in 2023 will significantly enhance Mr President’s vision and current drive for increase domestic gas utilization as the mainstay for nationalnindustrialization, increase foreign investment, government revenue growth and ultimately provide more job opportunities for Nigerians,” Buhari stated.

On his part, the Group Managing Director, GMD of Nigeria National Petroleum Corporation, NNPC, Mr Mele Kolo Kyari, said they were working assiduously in ensuring timely completion of the project.

Kyari said that some of the equipment has already been delivered to Nigeria from abroad.

He said the AKK project when completed will provide about 1 million jobs.

In his speech, Governor Abdullahi Umar Ganduje of Kano State said the AKK project will help immensely in reviving over 200 industries in Kano which have been in slumber for a long time.

He said his administration had taken bold steps that would enable the project to be completed successfully, saying the people of Kano State would benefit from the project especially in the aspect of boosting their businesses.

Meanwhile, the stakeholder’s forum was themed “Optimizing the Economic Development Capacity of the Ajaokuta-Kaduna-Kano”AKK” Gas pipeline Project”.


https://www.vanguardngr.com/2021/07/fg-reduces-gas-to-power-price-from-2-50-to-2-18/

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Nobody: 3:52am On Jul 30, 2021
The gas here is the gas sold to GENCOS to power the turbines.

The problem here? Pricing is in dollars, not in Naira...which is one of the reasons why GENCOS have issues paying for gas. All the gas companies want money in dollars.

4 Likes 3 Shares

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Bola146(f): 5:21am On Jul 30, 2021
I bought 12kg for #4600 last week cry cry cry

12 Likes 1 Share

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Hangmnk: 5:46am On Jul 30, 2021
Bola146:
I bought 6kg for #4600 last week cry cry cry
shocked
Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Omihanifa: 5:47am On Jul 30, 2021
Same gas that we were told we have in abundant quantity and we are even flaring it away is what has suddenly become very expensive again undecided

What a country

33 Likes 1 Share

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Monogamy: 5:48am On Jul 30, 2021
Is this news about Nigeria gas price or abroad?

Why are they using dollar?

12 Likes 1 Share

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by captainjerry: 5:50am On Jul 30, 2021
Ok
Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Ceenachi: 5:50am On Jul 30, 2021
Absolute nonsense!
Each time I remember why we “occupy Nigeria” with the current leadership in the country, I will just wonder why the country is being taken for fools

1 Like 1 Share

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Hoii(m): 5:51am On Jul 30, 2021
They should reduce the price of cooking gas too o

1 Like 1 Share

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Kraspo(m): 5:51am On Jul 30, 2021
Let it have an impact on the lives of the average Nigerian

3 Likes 1 Share

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by MufasaLion: 5:52am On Jul 30, 2021
angry
Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by omoadeleye(m): 5:57am On Jul 30, 2021
So they basically reduce the price because of the people in the north

14 Likes 1 Share

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Authoreety: 5:59am On Jul 30, 2021
Kai... Useless FG


Buhari should go back to his village

2 Likes 1 Share

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Valachix: 6:00am On Jul 30, 2021
Bola146:
I bought 6kg for #4600 last week cry cry cry

I bought 8kg ₦4,400 yesterday.
It shall never be well with Buhari and his zombies.

28 Likes 4 Shares

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Andyvilly: 6:01am On Jul 30, 2021
The law to generate power privately has trauncated the development of our power sector, we cannot generate power and send to the national grid for it to redistribute again, very wrong.

5 Likes 1 Share

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by wasi9ice: 6:02am On Jul 30, 2021
Someone should please put me through,, which of the gas, is it cooking gas or?

1 Like 1 Share

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by sonofthunder: 6:03am On Jul 30, 2021
Why are they not selling in Naira Are we not deceiving our selves

1 Like 1 Share

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by tayebest(m): 6:04am On Jul 30, 2021
1kg of gas now cost N600. We've learn enough from Buhari's government. Can he just step down already? cry

8 Likes 1 Share

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Unsad(m): 6:05am On Jul 30, 2021
Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Maxymilliano(m): 6:08am On Jul 30, 2021
And how will this better the lot of the common man in the face of high cost of living

1 Like 1 Share

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Ngasky(m): 6:08am On Jul 30, 2021
Incomplete report. What is wrong with todays frontpage? All the reports are not clearly stated.
GAS. Which of the gas? LPG for cooking or Diesel for power plants and generators?
Pls be specific in reporting

2 Likes 1 Share

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by olatade(m): 6:09am On Jul 30, 2021
The real life crises happening in Nigeria right now is the silence of the people. Fuel price hikes all the time cooking gas hike and everybody throwey face

5 Likes 1 Share

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by kolakolex: 6:09am On Jul 30, 2021
Even the gas that we have in abundance, is expensive.

All these our politicians don't have our interest at heart ,they are only concerned about themselves alone.

1 Like 1 Share

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by kolakolex: 6:11am On Jul 30, 2021
sonofthunder:
Why are they not selling in Naira Are we not deceiving our selves

because we trust our own currency.

How do they want the naira to appreciate,when even local products are priced in dollars.

1 Like 1 Share

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by nnekaike(f): 6:13am On Jul 30, 2021
Bola146:
I bought 6kg for #4600 last week cry cry cry
calculative cooking,pressure pot and electric cooker if you are not on prepaid is one way to manage this period.

9 Likes 1 Share

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Bola146(f): 6:24am On Jul 30, 2021
nnekaike:
calculative cooking,pressure pot and electric cooker if you are not on prepaid is one way to manage this period.

I'm on prepaid sad
Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Sirdiq21: 6:24am On Jul 30, 2021
Bola146:
I bought 12kg for #4600 last week cry cry cry
They Are Talking Abou Gas, Not Gas Uncle.

1 Like

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Jeetech01(m): 6:25am On Jul 30, 2021
Guys lets take a chill, i guess the new price is expected to take effect from yesterday lol
Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Gate050: 6:25am On Jul 30, 2021
Bola146:
I bought 12kg for #4600 last week cry cry cry
Cheap! Here I'm kwara state, Ilorin, is 440 per kg
Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Sunkyapogee(m): 6:28am On Jul 30, 2021
Bola146:
I bought 12kg for #4600 last week cry cry cry
It's 6k here in port Harcourt..maybe the price is down already.

1 Like 1 Share

Re: FG Reduces Gas To Power Price From $2.50 To $2.18 by Nobody: 6:31am On Jul 30, 2021
Bola146:
I bought 12kg for #4600 last week cry cry cry
if you reside in ibadan, it is 5500 now.
12.5

6 Likes 2 Shares

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