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FG Mulls Measures To Reduce Gas Price, Availability
Published
3 months agoon
By
EditorThe Federal Government says it will implement measures to significantly reduce the price of Liquefied Petroleum Gas (LPG), otherwise known as cooking gas.
It will also ensure the domestication and penetration of the LPG towards ensuring accessibility and availability for consumers across the country.
Mr Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), made this known at a Stakeholders’ Consultative Meeting on Tuesday in Abuja.
Ekpo said that prioritising the domestication and penetration of the LPG was one of the three priority areas of President Bola Tinubu-led administration.
He identified another area as intensifying efforts to increase upstream gas production to bridge supply and improve strategic economic sectors like Gas to Power, Gas-Based Industries (GBIs), and Gas for Export.
He said it would focus on the completion of major gas midstream infrastructure and projects, including the AKK Gas Pipeline Project, the OB3 Gas Pipeline Project and the ANOH Project.
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According to the minister, this will enable flagship projects like the Brass Methanol Project to enhance the efficiency and capacity of the gas sector.
“It is imperative that we work together to unlock more resources to provide gas for power, GBIs, LNG export, and domestic use.
“(This will) foster economic growth, ensure energy security and eradicate poverty, a cardinal objective of President Bola Tinubu’s Renewed Hope Agenda.
“Nigeria is positioned as one of the leading gas-rich countries in the world. We have, however, not unlocked the full potential of this valuable resource.
“This underperformance can be attributed to gas flaring, inadequate infrastructure, pricing concerns, policy and regulatory gaps, and limited funding.
“(It also include) environmental concerns, the growing urgency for a smooth energy transition as well as a lack of comprehensive gas development blueprint,’’ he said.
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The minister said that the government was committed to developing an adaptable roadmap that reflects collective intelligence.
He said that government would also learn collaboratively and act decisively to create an environment that fosters growth, innovation, and sustainable development.
Amb. Nicholas Ella, Permanent Secretary of the ministry, stated that the challenges and opportunities within the gas sector are vast, ranging from technological advancements to environmental considerations and economic implications.
“It is through open and transparent discussions like this that we can uncover synergies, address concerns, and collectively arrive at solutions that not only meet the needs of the present but also ensure a sustainable and prosperous future.”
Alhaji Abubakar Shettima, National President, Independent Petroleum Marketers Association of Nigeria (IPMAN), expressed readiness to collaborate with the government towards the actualisation of the Compressed Natural Gas (CNG) and LPG use.
“IPMAN has the highest number of retail outlets nationwide for LPG and that of CNG will increase through our full partnership in the gas programmes of the government.
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“Though the cost of LPG is a bit higher but when you compare with other sources of energy, LPG is still cheaper than kerosene. There is need to reduce the cost of petroleum products through the use of CNG,’’ he said.
Mr Osagie Okunbo, Chairman, Oil Producers Trade Section (OPTS), said it was looking forward to translate the gas framework on ground into reality in view of the abundant gas resources.
He added that it was being owed 1.3 billion dollars for gas that has been produced and sold in the past.
Okunbo said that this was a key issue in the gas discussion the meeting was having, urging that producers be encouraged through appropriate mechanism.
“The government should ensure that the price set for gas is such that will enable gas production.
“Gas price is due for review in April; we will be making our inputs known to the authority to make sure the price is cost reflective,’’ he said.
The News Agency of Nigeria (NAN) reports that the stakeholders’ engagement aimed at harnessing collective wisdom, experiences, and insights of key players in the private sector.
It is expected to produce constructive recommendations to resolve issues and chart the way forward for the industry.
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Aid Reveals What Peter Obi Discussed With Atiku, Saraki, Lamido During Visits
Published
1 hour agoon
May 13, 2024By
EditorThe reason behind the visit of 2023 presidential flagbearer of the Labour Party, LP, Peter Obi to top political figures such Atiku Abubakar, Bukola Saraki and Sule Lamido has been revealed.
Obi’s spokesperson, Dr Yunusa Tanko, said the visit was in line with the former Anambra governor’s commitment to the peace and progress of the nation.
DAILY POST reported that Obi in Abuja on Monday visited some top political figures, including former Vice President, and PDP presidential candidate in the 2023 election, Atiku Abubakar, former Senate President Bukola Saraki and the former Governor of Jigawa State, Alhaji Sule Lamido.
“At the center of discussion during each of these visits was the state of the nation and how to reduce the suffering of all Nigerians irrespective of class and location,” Tanko said in the statement.
“In particular, the desperate condition of the downtrodden in our midst was highlighted.
“Of particular interest and emphasis in these discussions was the worrisome situation in the Northern parts of the country.”
Rivers State Governor Siminalayi Fubara on Monday announced a plan by his administration to set up a panel to probe previous governments including the immediate past administration of Nyesom Wike.
Governor Fubara who has been in a face-off with Wike, the Minister of the Federal Capital Territory, FCT, disclosed the plan after swearing in Dagogo Iboroma as the Attorney General of the state.
The governor expressed pessimism that the lingering political crisis currently rocking the state cannot be resolved anytime soon.
Apparently referring to Wike, the governor accused his opponents of deliberately sabotaging his administration while he was hopeful that the issue in the state would be resolved amicably.
Governor Fubara vowed to make tough decisions moving forward no matter how they would be perceived by the public.
Fubara also responded to recent comments by former Attorney General Zacchaeus Adangor, SAN, and his counterpart in the Ministry of Works Alabo George-Kelly.
According to the governor, the former attorney general alongside other critics of his administration have been sabotaging the progress of his government by filing nolle prosequi against the interest of the state.
News
JUST IN: Confusion As Nigerian Customs Service Official Found Dead
Published
2 hours agoon
May 13, 2024By
EditorA Chief Superintendent of the Nigeria Customs Service, NCS, Abdullahi Abdulwahab Magaji, has been found dead at his residence in Kano State.
The spokesperson of the NCS, Abdullahi Maiwada, confirmed the development to DAILY POST exclusively in a telephone interview on Monday.
According to him, the Service has yet to ascertain the exact cause of Magaji’s death.
He noted that the Nigeria Police Command in Kano is investigating the matter.
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“There is an officier confirmed death in his premises. Whether he killed himself or was assassinated, we do not know yet.
“Let us wait for the Police investigation,” he told DAILY POST.
Meanwhile, reports are suggesting that the officer allegedly shot himself dead.
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Aid Reveals What Peter Obi Discussed With Atiku, Saraki, Lamido During Visits
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