The Nation Newspaper

Tag: Gas

  • Nigeria to double current gas production by 20%

    Nigeria to double current gas production by 20%

    Director, Decade of Gas Secretariat, Ed Ubong has expressed the confidence that Nigeria will add 20 percent to her current production this year. This is based on all that have been seen and working with all the critical stakeholders in the sector. 

    Speaking at the ongoing Nigeria International Energy Summit (NIES), in Abuja with the theme ‘Navigating the New Energy World Order: Security, Transition and Finance,” Ubong said that lot of it will come from gas flaring, a lot of it will also come from payments of 0.5 levy on the top of every wholesale price but that money must be invested back in the gas sector to allow Nigeria to develop its large-scale infrastructure.

    “Last year when the snapshot was started, it was thought that there were only about 10 projects that would deliver about 3 BCF a day which was what was seen as a short-term goal but following the inauguration of the secretariat and the work being done by all the sponsors group today we have 20 plus projects that can deliver about 4.6 BCF a day.

    If we all follow through with that estimate, Nigeria stands a chance of doubling its current gas production by 20 per cent.  4.6 BCF a day that is long term up to 2030”, he stated.

    Ubong commended firms working on the Asa North project, adding that Chevron has committed to ensure that we have continued to produce over 300 million of SCOF of gas a day into the ELPS. “So apart from sustenance, we’re going to see a 20 percent jump in gas production in country. Additionally it is worth noting that based on all the work being done by the Honorable Minister of State for Gas in January alone the LNG supply has moved to the levels that we’re seeing last two years ago”, he stated.

    The final investment decision is an indication that we have agreed that we are going to invest money as an industry. Giving special commendations to Shell for declaring their first FID in January, Ubon added that the CELI when it comes on sale will produce 100 million SCOF of gas a day to the Dangote fertilizer plants.

    “That’s a huge, that’s about 400 megawatt worth of energy that will be consumed in the domestic sector. It is not all done, there are various unlocks enablers that are being requested by the sector to continue to progress this work and that discussion has been supported by the Nigerian Content Development Monitoring Board (NCDMB) and the SA for Energy who is working on looking at how the fiscals can be tuned to make projects more profitable adding that efforts are being made to ensure that the issue of gas pricing begins to work and also there’s an improvement along the Elps which is the main transportation line adding that all the stakeholders have joined hands to ensure that we are safe and walking that track.

    Ubong said that sitting at the back of the Elps is about 300 to 600 million SCOF of gas a day which can become available once the OB3 OB line is completed.

    He said the most important is that today at the highest level right from the presidency there is a monthly report on that piece of work on how its progressing adding that the minister has assured that work will be completed by the end of March.

    Read Also: Cement price hike: NIQS throws support for importation

    I know there have been a couple of side visits by the EVP Gas and Power, a key champion for delivering that project together with the GCO, NNPCL. Once OB3 is complete, the link and the support lines, over 600 million SCOF of gas a day will become available on the network feeding into the AKK, feeding into the West where there is significant demand.

    This is the single most critical infrastructure that we need to complete in the short term to improve the overall gas reliability that we see in the system adding that between October 2023 and the end of January this year the government has paid over 120 million dollars to offset some of debts owed to the GenCos.

    He said that more importantly that the government is also now working a framework that can liquidate most of that areas. “That’s a piece of work that is ongoing and we hope that it will be approved and then the industry can move away from that legacy issues”, we must build capacity for gas, he added.

    He said: “The engineers, the technicians that will work in this new gas sector that we are looking at over the next decade and at the Secretariat we are committed to that. We’re looking for interns, we’re looking for young people who are willing to join us and then provide their time and energy in supporting the wider and bigger goal of the sector.

    For the first time we now have an inter-ministerial committee, one that involves both the Minister of State for Gas and the Ministry of Power because power and gas they go together.

    We are confident that when that has become fully operational that critical link between gas and power will lead to more sustainable solutions going forward”.

  • Gas, vandals and TCN

    Gas, vandals and TCN

    There are sundry woes besetting the Transmission Company of Nigeria (TCN) in its operations by which it feeds the national power grid. Consequently, power supply in most parts of the country has been severely epileptic.

    Prolonged blackout occasioned by grid failure hobbled the nation early last week following many days of fitful energy supply that the transmission company blamed on constraints in gas supply available to the thermal generating companies. Coincidentally, Nigeria is in dry climactic season when water levels available to hydro stations are at lowest ebb. TCN spokesperson, Mrs. Ndidi Mbah, said in a recent statement that shortfall in gas supply to the thermal stations had depleted output from those stations and impacted bulk power available on the transmission grid for onward transmission to the distribution load centres nationwide. According to her, the transmission firm is collaborating with sectoral stakeholders to ensure the grid keeps running despite the low level of power currently being generated into the system. “Consequent upon the current load on the grid, load distributed to the distribution load centres have also reduced as TCN can only transmit what is generated,” she stated inter alia.

    Read Also: How Herbert Wigwe helped in building RCCG City of David, by Iluyomade

    TCN also said it was contending with hoodlums vandalising its transmission assets in parts of the country. Mbah, in another statement, said TCN’s tower number 388 along the Jos-Bauchi 132 Kilo Volt (kV) single circuit transmission line was vandalised, resulting in its collapse and power outages in Yobe and Borno states. The incident was suspected to have occurred on February 1st. A line trip in Jos, according to her, prompted an investigation by enlisted security operatives who found remnants of explosives detonated by vandals by tower legs, which had caused the tower to collapse. The spokesperson further said the February 1st incident replicated another on December 21st, 2023, that brought down towers T372 and T373 along the Gombe-Damaturu 330kV single circuit transmission line. The towers were only fully restored on February 2nd after TCN engaged one of its contractors to quickly mobilise to site to commence reconstruction and restringing of the affected line and tower. “It is pertinent to note that the continuous vandalism and theft of power equipment is a constant setback to ongoing implementation of the transmission system expansion plan. This is because funds earmarked for grid expansion are usually diverted as a matter of emergency to repair vandalised power infrastructure, and sometimes to avert grid collapse,” Mbah said.

    While the challenges faced by TCN are understandable, they do not assuage expectations among Nigerians of improved power supply. The transmission company cannot throw up its hands and whine about challenges. It is its duty to overcome those challenges, however it will, and deliver power to consumers. No amount of excuses will relieve it of that responsibility, so it has to shape up.

  • Gas explosion destroys 1,200 shops in Asaba Market

    Gas explosion destroys 1,200 shops in Asaba Market

    • Popular Ebonyi nightclub razed

    One person sustained injuries and 1,200 makeshift shops were razed yesterday after a gas explosion rocked the popular ‘Hausa Market’ by Custom Junction, Okpanam, suburban Asaba, Delta State.

    Goods, food items and cash worth several millions were said to have been destroyed. Many of the traders were rendered homeless as they lived in the shanties inside the market.

    A source said the fire was caused by an explosion from a gas cylinder used to prepare noodles by a seller.

    He said: “It is a massive land  occupying little stores built with wooden structures. They have different activities taking place there.

    “Somebody that sells noodles was cooking and the gas cylinder exploded.

    “The entire market went up in flames and the harmattan breeze helped it to spread.

    “According to the community leader, there are about 1,200 stores but only 20 were spared.”

    Similarly, an early morning inferno gutted a popular nightclub, Roky Fella, on Udoji Street, Kpirikpiri Abakaliki, Ebonyi State.

    Read Also: JUST IN: Tinubu congratulates Eagles for picking AFCON final ticket

    The incident happened about 5:30am yesterday.

    Eyewitnesses said the fire raged for over one hour before firemen intervened.

    An eyewitness, Uche Ogbodo, attributed the fire to power surge. He said workers who were still sleeping escaped unhurt.

    “To the best of my knowledge, the incident could be as a result of power surge because the club closed about 4:30am and the outbreak started around 5:30am.

    “About 5:45am, we observed thick fire and smoke coming out from the nightclub and alerted other neighbours who called the fire service who helped to control it from extending to other buildings.

    “The incident caused serious panic and tension within the area following the late arrival of the Fire Service men. Residents resorted to self help by fetching water from a nearby borehole and mixing it with detergent to quench the fire but it was uncontrollable.”

    The manager of the Nightclub, Chidi Chukwuemeka, said that the workers called him at about 6am that fire gutted the club house and he had to rush to the place to see that the entire building was razed.

    The Chief Fire Officer, Ebonyi State, Raphael Ibiam, explained that they got a distress call at about 6:30am and on arriving at the scene, a lot of damage had been caused by the fire.

    “We weren’t called on time and I immediately mobilised and we went to the scene, unfortunately, the fire has burnt down the entire club house. We did our best to prevent the fire from extending to nearby houses,” he said.

  • ‘Gas leakage detector factory to generate 400 jobs’

    ‘Gas leakage detector factory to generate 400 jobs’

    The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, yesterday commissioned the Amal Technologies Limited factory for gas leakage and smoke detection device in Abuja.

    The facility which can generate employment for 400 people can also yield $22 million revenue annually.

     Director, Upstream, Engr. Kamaru Busari, who represented him said  the facility was formally established to produce gas leak detection devices and Printed Circuit Boards (PCB).

    According to him, the ceremony represents a significant landmark in the administration’s quest to promote a Research culture in the oil and gas industry, through the nurturing of innovation-driven startup companies.

    He added that it also represents a breakthrough in local manufacturing of electronic circuitry and devices.

    The minister said the establishment is in line with Nigerian Content Development and Monitoring Board (NCDMB’s) mandate to drive indigenous technology development in the Nigerian oil and gas industry, the Governing Council of the Board approved the Research and Development roadmap, with a particular focus on providing institutional and funding support for market-driven Research and commercialization of breakthrough innovations with high market prospects.

    He called on the private sector, especially the Nigerian oil and gas service providers to follow the lead of NCDMB by funding research and development programs with the capability to develop homegrown technology and reduce capital flight associated with the importation of foreign hardware and software solutions.

    Lokpobiri noted that one of the proposals that have benefited from the NCDMB Research and Innovation intervention is the Amal Technology gas leak device, “which adopted the Internet of Things (IOT) to introduce into the market a device that generates a short message system (SMS) and calls on phones of homeowners in the event of a gas leak.”

    He added that the facility also has the capability for Printed Circuit Board (PCB) manufacturing.

    According to him, a major plank under the renewed hope Agenda of Mr. President is the commitment to deepen Gas penetration and gas-based industrialization anchored on the penetration of Liquified Petroleum Gas (LPG), adoption of Compressed Natural Gas (CNG) vehicles, and gas conversion for power generation, fertilizer production, among so many other uses of gas.

    The minister noted that the deployment of the flagship Amal technology gas leak detection device provides a significant safety tool that will accelerate the adoption of gas as a preferred source of energy for homes, transportation, and industry.

    Lokpobiri revealed that the NCDMB Innovation process has led to the establishment of PCB production capability in Nigeria.

    The Federal government at COP26 in August 2022, he recalled committed to a net-zero target by 2060 and Nigeria has chosen Natural gas as its transition fuel.

    He stressed that to support this initiative, projects are underway to establish fuel-to-gas conversion centers and CNG refuel stations nationally.

    The minister said the Federal Government expects that the deployment of the Amal Technology safety device will also complement our efforts to accelerate the net-zero pathway.

    He further noted that  the Job creation potential of start-up companies such as Amal Technologies is critical to the creation of a circular economy and aligns with Mr. President’s 8-point agenda for economic recovery.

    He said the signing into law of the Start-up Act of 2022 aims to provide the institutional and legal framework for the establishment and sustainable growth of innovation-driven start-up companies.

    Lokpobiri noted that the Act also seeks to position Nigeria’s startup ecosystem, as the leading digital technology Centre in Africa, with global outreach.

    He said the ministry has intention of  extending the benefits contained in the Start-up Act and any other Research-related policies to the oil and gas industry.

    He encouraged the ministry and its agencies to adopt a collaborative approach to supporting Research in line with our commitment to develop homegrown technology for the oil and gas industry and its linkage sectors.

    In his goodwill message, the Nigerian National Petroleum Company Limited (NNPCL), Group Chief Executive Officer, Malam Mele Kyari, noted that the $22million annual revenue Amal Technologies Limited has projected from the facility can be increased to $100million.

    Represented by the Head, Strategic Development & Partnership, Research and Technology,  Engr. Mudil Abubakar, he said “When the Director mentioned the finance being projected at $22million annually as revenue, we look forward to coming here, where we look forward to applaud increase and not just $22 million, $50millon or $100million.”

    Speaking, the NCDMB Executive Secretary, Engr. Felix Omatsola Ogbe, recalled that the smart gas leak detector research was just a proposal submitted to the Board in 2018.

    He added that the idea was nurtured through the NCDMB incubation process hosted in TIIC.

    He added that the “recurring menace of gas leaks and explosions leading to heavy losses in human lives,  property damage, and pollution of the environment is the problem statement that the device seeks to address.

    Read Also: How we created our niche in energy sector – Neconde chairman

    “We may recall that in 2020, a gas explosion in Lagos took over 20 lives including students, injuring over 200, and displaced over 500 Nigerians. 2021 also saw  record six deadly gas explosions claiming scores of human lives and more recently in 2022 and 2023 preventable gas explosions in Kano, and various parts of Lagos claimed many lives and property.”

    Meanwhile, the Amal Technologies Limited Chief Executive Officer, Shehu Tijiani Abdullahi, disclosed that exactly five years ago, he approached the NCDMB with an idea for a product, the IoT smart gas leak detector.

    Continuing, he said “I made my presentation first to the Mr Malik Halilu and him team, the R&D department, at that time he was the GM.

    “He was so impressed with the presentation that he quickly took it up with the then director of R&D Mr Patrick Oba.

    “Subsequently they scheduled a formal presentation to the R&D council which was headed at the time by the former ES, Engr. Simbi Kesiye Wabote, including the then director of finance and planning Mr Isaac Yalah and well as other members of the council.

    “These are all individuals that I had never had a prior relationship or encounter with.

    “They simply believed in the Amal technologies vision and by December of 2021, Amal Tech signed an official partnership with the board.

    “ That, that is indeed proof that the NCDMB is not about having connections or knowing someone at the top.

    “It is about a team of people that are dedicated to the success and progress of local content in Nigeria…

    “Today, we witness the realization of that vision as we unveil this first of its kind ultramodern facility, equipped with cutting-edge technology and staffed by a team of talented professionals.”

  • Manufacturers cut 25% off energy costs by switching from diesel to gas

    Manufacturers cut 25% off energy costs by switching from diesel to gas

    Polyfilm Packaging Nigeria Limited, a manufacturer of flexible packaging focused on the food and consumer sectors, has recorded over 25% savings in energy costs after switching from diesel to gas, at a time when rising diesel prices are forcing businesses to adopt gas as an alternative fuel.

    Vikram Gursahaney, co-founder and executive director at the Ibadan-based firm, said the company was spending nearly half its operating costs on buying diesel and maintaining equipment, which proved unsustainable as diesel prices hit the roof.

    Manufacturing includes addressing daily operational challenges encompassing various facets of the business, particularly energy costs that have become burdensome for industries.

    “Energy costs have risen significantly in the manufacturing industry and can contribute up to 50% of your operational expense, followed by labour and other overheads.”

    The company started operations in 2008 as a privately held business established by the family, who first settled in Nigeria in the I970’s. The business searched for alternative energy solutions for two years before eventually turning to Clarke Energy’s range of gas plants.

    But there was another challenge: there was no pipeline that brought gas to Ibadan. So when Polyfilm settled on the first engine it bought from Clarke Energy — a 1 MW containerised gas engine — it entered a deal with a gas supplier to supply compressed natural gas (CNG) to the plant.

    “Although CNG is expensive it is inevitably more economical than running on diesel,” said Gursahaney. He added, “Since we made the first purchase years ago, we have expanded the plant’s capacity in line with the company’s expansion plans and now run primarily on gas.”

    Speaking on the services provided by Clarke Energy, Gursahaney said, ” They have a very responsive after-sales team available to attend to us when we call. We have realised a substantial increase in value, specifically in terms of the energy yield measured in kilowatt-hours per standard cubic meter of gas. Furthermore, since we do not have access to piped gas yet, which is cheaper than compressed natural gas, it is imperative to consider a very efficient engine to compensate for the difference in cost.”

    Clarke Energy designed the entire power solution from front-end engineering design, engine delivery, installation, commissioning, and equipment maintenance over the life of the asset.

    Yiannis Tsantilas, the Managing Director of Clarke Energy in Nigeria, expressed, “The partnership with Polyfilm Packaging Nigeria Limited aligns with Clarke Energy’s drive to extend value to manufacturers in regions further away from the piped gas network but can access bottled gas, in this case, the ancient city of Ibadan, in the south-western region of Nigeria”.

    Packaging remains a critical process in finishing food and consumer products that are part of our daily lives, directly impacting the global supply chain, food sustainability and human health, requiring a focus on quality, durability, and safety. Polyfilm has continued to meet this demand as it expands its investments and adopts backward integration in Nigeria through its extraordinary leadership and commitment to delivering value to Nigerians.

    The power plant solution supplied to Polyfilm Packaging Nigeria Limited has helped the business remain competitive and reduce their carbon footprint on its journey towards environmental sustainability.”

    “Apart from the cost savings, the gas engine exhaust emissions are significantly lower when compared with diesel generators. In addition, the diesel generators require maintenance every 250 run hours, while the INNIO Jenbacher engine purchased from Clarke Energy requires maintenance every 3,000 run hours, helping to improve the plant’s availability to power our operations,” said Gursahaney.

    These cost savings and other associated benefits have helped the company expand its operations, including the size of its workforce. It now employs over 200 people and has a production capacity of about 10,000 tonnes annually.

    The backward integration strategy is also helping the organisation tackle the challenges of scarce foreign exchange, as it now relies on local sourcing for about seventy per cent of its raw materials, rather than the 30% it did in the past.

  • 1,000 Ojuwoye LCDA residents get gas cylinders, burners

    1,000 Ojuwoye LCDA residents get gas cylinders, burners

    No fewer than 1,000 residents of Odiolowo-Ojuwoye Local Council Development Area (LCDA) have benefitted from the Trash-for-Gas initiative of the council chairman, Rasak Ajala in collaboration with Smart Gas, a non-governmental organisation.

    Ajala said the programme underscored his dedication to creating a society “we can all take pride in. It aligns with Governor Babajide Sanwoolu’s sustainable development goals and our electoral commitments.”

    The gesture, he said, would go a long way in reducing poverty in the council and ensure safety at homes.

    According to him, there is a need to safeguard the planet, and ensure the well-being of our people.

    He urged the community to adopt fossil fuels for cooking over traditional wood and charcoal.

    “Fossil energy is an environmentally-friendly alternative. The government provides these items at no cost, allowing residents to allocate their funds elsewhere, thereby contributing to poverty reduction,” he said.

    Ajala encouraged the populace to embrace these items for a healthier and safer environment.

    “Health is wealth, and utilizing fossil fuels promotes a friendly living space. Through initiatives like Trash-for-Gas, we empower the community while fostering a clean and healthy environment,” he added.

    He enjoined the beneficiaries not to sell the items.

    Chairmen’s spouses empower residents

    By Halimah Balogun

    The Lagos State Council Chairmen Wives Association (LASCCWA) has empowered residents of the Epe Federal Constituency, comprising Epe Local Government, Ikosi-Ejinrin Local Council Development Area (LCDA), and Eredo LCDA, with working tools such as grinding machines, popcorn making machines, sewing machines, 6kg gas cylinders, and food items.

    The event was held at the Epe LGA Secretariat, Itamarun.

    Read Also: Sanwo-Olu donates 300 vehicles to security agencies

    Chairperson of Ikosi-Ejinrin LCDA Mrs. Sijuade Anomo, in her welcome address, highlighted the commitment of LASCCWA towards socio-economic development of the communities.

    She emphasised the association’s dedication to poverty alleviation and expressed optimism about the far-reaching impact on beneficiaries and their families.

    Mrs Anomo urged the beneficiaries to leverage the tools they received, emphasizing the rare opportunity presented to them.

    The Chairman of Epe Local Government, Princess Surah Animashaun, commended the chairpersons for their dedication and expressed appreciation for their support in bringing joy to the people.

    The Chairman of Ikosi-Ejinrin LCDA, Wale Anomo, hailed the chairpersons for enhancing their administrations’ efforts at reducing poverty in the councils.

    He expressed appreciation for choosing Epe as the program’s venue, highlighting the significance of supporting women, especially during the festive season

    Anomo’ counterpart at Eredo LCDA, Ismail Akinloye, said he was proud of the chairpersons, urging them to sustain the gesture.

    He emphasized the importance of husbands appreciating their supportive wives, as exemplified by LASCCWA.

    LASCCWA President, Mrs. Kehinde Ajala, acknowledged and appreciated the three chairpersons for their unwavering support, emphasizing the association’s determination to alleviate peoples’ burden.

    Ajala underscored the numerous association activities and stressed that their best efforts were yet to be revealed.

    Beneficiaries expressed deep appreciation for the support and materials provided valued at millions of naira.        

  • Nigeria loses $10b yearly to foreign welders in oil, gas sector

    Nigeria loses $10b yearly to foreign welders in oil, gas sector

    The Federal Government yesterday said it loses about $10billion yearly to the influx of foreign welders in the oil and gas sector.

    The government which vowed to pay special attention to the sector said the emphasis on international certification has marginalized local welding professionals, depriving them of opportunities to contribute their expertise.

    Minister of Science and Technology, Chief Uche Nnaji said despite having over one million welders, Nigeria still loses an estimated $10 billion annually in revenue by importing welders with international certification, displacing local service suppliers due to the lack of acceptable accreditation.

    He spoke in Abuja at the launch of the National Policy on Welding and Welding-Related Fields and presentation of its Strategy Implementation Action plan.

    He said: “It is concerning that the lack of internationally recognized certification of industry practitioners has prevented our indigenous welding sector, which should be making a substantial contribution to Nigeria’s economy, from exploiting myriads of opportunities, particularly in the oil and gas industry and exporting them to an influx of foreign welding personnel.

    “The global welding market emphasizes international certification of its service suppliers, there is little room for our local welding professionals to showcase their talents and potential unless we consciously and progressively certify existing capacities and regulate the practice. Consequently, we have introduced the National Policy on Welding and Welding Related Fields to address this issue and promote the use of local welding personnel in critical economic sectors.

    “Despite having over one million welders, Nigeria still loses an estimated $10 billion annually in revenue by importing welders with international certification, displacing our local service suppliers due to the lack of acceptable accreditation. Research has shown that welders’ contribution to all fabricated products exceeds 70per cent, with most welder-wage components unwittingly exported.

    Read Also: Nigeria, Saudi Arabia sign MoU on oil, gas investment

    “The influx of foreign welding personnel, particularly in the oil and gas industry, demands special attention. The emphasis on international certification has marginalized local welding professionals, depriving them of opportunities to contribute their expertise. The recent approval of the National Policy on Welding and Welding-Related Fields is a crucial step towards addressing this issue by promoting the utilization of local welding personnel in critical sectors of the economy.”

    Board Secretary, Nigerian Institute of Welding, Dr. Solomon Edebiri said the policy when implemented, will provide the right platform for the development of technology, small and medium enterprises (SMEs), informal sector, human capacity, infrastructure across all sectors, equipment manufacturing and quality control improvements.

    He said there is no doubt that proper implementation of this policy will save the country over $10billion lost annually due to capital flight arising from the importation of various cadres of Welding personnel into the country for some unjustifiable reasons.

    Dr. Edebiri also said the reason given are either for reason of equity funding on projects or in the name of technical partners’ interest. Most times, they adduce this to lack of competencies in specific welding processes.

  • Stakeholders seek stiffer penalties for gas flaring

    Stakeholders seek stiffer penalties for gas flaring

    Niger Delta stakeholders have advocated stiffer sanctions against oil companies engaging in gas flaring and an enforcement of existing policies on gas flaring in the region.

    They urged host communities and individuals affected by oil exploration to become conversant with the Petroleum Industry Act (PIA), to press for their rights.

    The stakeholders spoke at a one-day roundtable discussion organised by ActionAid, a civil rights group, on the negative impact of oil exploration in the Niger Delta.

    The event, held in Asaba, Delta State capital, was attended by representatives from the National Assembly, host communities, civil society organisations, traditional institutions and the media.

    Participants called on oil companies to foster good operational relationship open to stakeholders, while appealing for proper clean-up of the areas affected by the effect of the oil spillages in the Niger Delta.

    Besides mapping out ways for the transition from fossil fuel to renewable energy, the stakeholders urged multi-national oil companies on the necessity to have a carbon gas desk.

    They enjoined relevant authorities, including the House Committee on Climate Change and Committee of Niger Delta Affairs to establish a desk office with the host communities for ease of complaints.

    Participants advised that the Nigerian government should be given conditions on accessing the global funds for environmental issues, while rejigging existing policies on climate and environmental change.

    Read Also: Lagos Assembly confirms three Sanwo-Olu’s nominees

    According to the communiqué, the importance of strong synergy in the fight for climate and environmental justice in the Niger Delta area cannot be overemphasised.

    It called for regular conversation among key stakeholders affected by oil exploration in Niger Delta communities.

    It accused western banks of funding the activities of multi-national oil companies, thus intensifying the environmental degradation in the region.

    The communique pointed out that community leaders have been compromised due to poverty, resulting from the divide and rule strategy used by international oil companies.

    It blamed the Federal Government for a lack of political will in implementing relevant laws in the oil industry, adding that this has been an impediment in the fight against abnormalities associated with oil explorations in the Niger Delta.

  • UPDATED: Cost of food, gas jack inflation to 27.33% in October – NBS

    UPDATED: Cost of food, gas jack inflation to 27.33% in October – NBS

    The National Bureau of Statistics (NBS) on Wednesday, November 15, said that owing to increases in the cost of food, gas, electricity, transportation, and others, the inflation rate rose to 27.33% in October 2023.

    The Statistician-General of the Federation, Prince Adeyemi Adeniran, made this known in a press statement issued at Abuja.

    He noted that the headline inflation rate indicated a 0.61% points increase from the 26.72% recorded in September 2023.

    He said: “The headline Inflation rate for October 2023, on a year-on-year basis, increased to 27.33% relative to the September 2023 headline inflation rate which was 26.72%. Looking at the headline trend, the October 2023 headline inflation rate showed an increase of 0.61% points when compared to the September 2023 headline inflation rate.”

    Adeniran also noted that on a year-on-year basis, the headline inflation rate was 6.24% points higher compared to the rate recorded in October 2022, which was (21.09%).

    The NBS boss said the increase in the headline index for October 2023 was attributed to the increase in some items in the basket of goods and services at the divisional level.

    According to him, “These increases were observed in Food and non-alcoholic Beverages (14.16%), Housing, Water, Electricity, Gas & other Fuel (4.57%), Clothing and footwear (2.09%), Transport (1.78%), Furnishings & Household Equipment and maintenance (1.37%), Education (1.08%) and Health (0.82%). Others are Miscellaneous Goods & Services (0.45%), Restaurants & Hotels (0.33%), Alcoholic Beverages, Tobacco & Kola (0.30%), Recreation & Culture (0.19%) and Communication (0.19%).”

    He, however, said that on a month-over-month basis, the headline inflation rate in October 2023 stood at 1.73%, which shows that the rate of increase in the average price level was less than that of the preceding month by 0.37% when compared to the rate recorded in September 2023 (2.10%).

    He said the percentage change in the average CPI for the twelve months ending October 2023 over the average of the CPI for the previous corresponding twelve-month period was 23.44%, showing a 5.57% increase compared to 17.86% recorded in October 2022.

    Adeniran noted that the Food sub-index for October 2023 increased to 31.52% on a year-on-year basis, which was 7.80% points higher compared to the rate recorded in October 2022 (23.72%).

    The rise in Food inflation on a year-on-year basis, he said, was attributed to increases in prices of Bread & cereals, Oil & fat, Potatoes, Yam & other Tubers, Fish, Fruit, Meat, Vegetables and Milk, Cheese, and Eggs.

    The NBS boss said, on a month-on-month basis, “the Food inflation rate in October 2023 was 1.91%. This was 0.54% lower compared to the rate recorded in September 2023 (2.45%).

    “The decline in Food inflation was caused by a decrease in the average prices of Fruits, Oil and fat, Coffee, Tea and Cocoa, Bread and Cereals.

    Read Also: I wouldn’t have been happy in the corporate world – DJ Cuppy

    “The average annual rate of Food inflation for the twelve months ending October 2023 over the previous twelve-month average was 26.33%, which was a 6.50% points increase from the average annual rate of change recorded in October 2022 (19.83%).”

    Adeniran said the analyses of the states show that the all-item index for October 2023, on a year-on-year basis was highest in Kogi (34.20%), Rivers (31.44%), Lagos (31.23%), while Borno (20.06%), Jigawa (23.52%) and Sokoto (24.47%) recorded the slowest rise in headline inflation.

    He noted that on a month-on-month basis, October 2023 recorded the highest increases in Yobe (3.72%), Jigawa (2.85%), Sokoto (2.84%), while Kogi (1.01%), Edo (1.05%) and Kwara (1.18%) recorded the slowest rise on month-on-month inflation.

    State-level analyses of the food index in October 2023, on a year-on-year basis, according to him, showed the highest increases in Kogi (41.74%), Kwara (38.48%) and Lagos (37.37%), while Borno (24.41%), Kebbi (24.90%) and Jigawa (25.10%) recorded the slowest rise.

    The NBS boss said on a month-on-month basis, however, in October 2023 Food inflation was highest in Yobe (5.35%), Sokoto (3.68%), and Jigawa (3.45%), while Edo (0.95%), Katsina (1.03%) and Rivers (1.10%) recorded the slowest rise.

    According to Adeniran, core inflation, which is all items less volatile farm produces and Petroleum Motor Spirit (PMS) as communicated in the previous month, the exclusion of the PMS is due to the deregulation of the commodity by the removal of subsidy.

    He said the core inflation rate stood at 22.58% in October 2023 on a year-on-year basis.

    This, said the Statistician General of the Federation, shows a rise of 5.12% when compared to the 17.46% recorded in October 2022.

    He noted that the highest increases were recorded in prices of Passenger Transport by Road, Medical Services, Passenger Transport by Air, Actual and Imputed Rentals for Housing, Pharmaceutical products etc.

    Adeniran said conversely, on a month-on-month basis, the Core Inflation rate was 1.39% in October 2023. Which was slowed down by 0.83% compared to 2.22% recorded in September 2023.

    Continuing, the NBS boss said: “The average twelve-month annual inflation rate was 19.98% for the twelve months ending October 2023; this was 4.60% points higher than the 15.38% recorded in October 2022.

    “The Urban consumer’s inflation rate on a year-on-year basis stood at 29.29% for October 2023, this shows a 7.66% point higher compared to the 21.63% recorded in the corresponding month in the year 2022.

    “On a month-on-month basis, the urban inflation rate grew by 1.81% in October 2023, which shows a decrease of 0.43% points compared to 2.24% in September 2023.

    “The twelve-month average annual inflation rate ending October 2023 over the previous corresponding twelve-month average, urban inflation rate was 24.76%. This was 6.38% points higher compared to the 18.38% reported in October 2022.

    “The Rural consumer’s sub-index in October 2023 was 25.58% on a year-on-year basis; this was 5.01% higher compared to the 20.57% recorded in October 2022.

    On a month-on-month basis, the Rural sub-index in October 2023 was 1.67%, which decreased by 0.29% points compared to September 2023 (1.96%).

    “The twelve-month average annual inflation rate ending October 2023 over the previous corresponding twelve-month average, Rural inflation rate was 22.23%. This was 4.85% higher compared to the 17.38% recorded in October 2022.”

  • Nigeria’s gas deposit can power transport, industries for 97 years, says Fed Govt

    Nigeria’s gas deposit can power transport, industries for 97 years, says Fed Govt

    • CNG centre opened in Kaduna

    The Federal Government has said Nigeria’s huge gas deposit can power the nation’s transportation and industrial sectors for 97 years at a cheaper cost than petroleum products can.

    The government spoke at the weekend through the Director of Presidential Initiative on Compressed Natural Gas (CNG), Michael Oluwagbemi, during the ground-breaking for the construction of a CNG conversion centre in Kaduna.

    It said this informed President Bola Ahmed Tinubu’s resolve to invest in the use of CNG as an alternative to fuel in the two sectors.

    Oluwagbemi said when completed, the CNG conversion centre would change petrol vehicles to dual fuel engine, enabling them to run of Compressed Natural Gas (CNG) and Premium Motor Spirit (PMS, or petrol).

    The agency boss said the Federal Government was piloting the conversion of the PMS vehicles to gas engines through its palliative project, which has been captured in this year’s supplementary budget.

    According to him, under the project, 55,000 vehicles will be converted at subsidized rate.

    “Nigeria is long overdue for this gas revolution. We are a gas country that happens to have crude oil. We have gas in large quantity that can last for 97 years, if fully utilised.

    “So, we should take gas seriously for industrialisation and transportation. This is why President Bola Ahmed Tinubu has taken the bold step. He had, after the sound economic policy of fuel subsidy removal, said that importing foreign fuel into Nigeria, which is smuggled to neighboring countries, is like exporting jobs and importing poverty.

    Read Also: Surge in gas price affecting stable power supply

    “He has decided to replace it with the use of Nigeria’s own resources, which is gas, for the benefit of Nigerians and the development of Nigeria.

    “We are going to be converting 55,000 vehicles at discounted rate under the palliative programne that is captured in the supplementary budget. Over 11,500 platforms, including buses and tricycles, which will be using CNG, will be procured,” Oluwagbemi said.

    The agency boss said President Tinubu was targeting a million out of about 17 million vehicles on Nigeria roads converted to CNG before the end of 2027.

    He said this means thousands of jobs would be created in the CNG value chain.

    Commenting on the safely and affordability of the CNG as an alternative to fuel, Oluwagbemi said CNG is over 40 per cent cheaper than PMS and safer than petrol for vehicular and industrial use.

    Also, the Chief Executive Officer of Rolling Energy Limited and Proprietor of the Conversion Centre, Mubarak Umar, said his company was committed to assisting the Federal Government to deliver the CNG programme.

    He said his company would build six additional centres across the country within a year.