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FG Stops Cooking Gas Exports To Tackle Soaring Prices

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The Federal Government has stopped the export of locally produced Liquefied Petroleum Gas, also known as cooking gas, to prioritise domestic supply.

The measure, announced by the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, on Tuesday, is intended to mitigate the soaring price of gas and will take effect from November 1, 2024.

This information was contained in a statement by the spokesman for the Minister, Louis Ibah, in Abuja.

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Ibah stated that the decision was reached after the minister convened a high-level meeting in Abuja with stakeholders to address the skyrocketing prices and their attendant hardship on Nigerians.

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The PUNCH reports that the price of Liquefied Petroleum Gas (cooking gas) has skyrocketed from N700/kg in June 2023, around the time President Bola Tinubu assumed office, to N1,500/kg in October 2024.
This represents about a 114 per cent increase within 16 months.

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In a move to tackle the soaring price of cooking gas, the Minister established a high-level committee in November 2023, led by the Chief Executive of the NMDPRA, Mr Farouk Ahmed, along with key stakeholders in the LPG value chain.

However, despite this effort to address the issue, prices have continued to fluctuate, recently soaring to N1,500 from an average of N1,100–N1,250 per kg.

But the minister, in a new directive to reduce prices, outlined short-term and long-term targets.

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READ ALSO: JUST IN: PDP Faction Seeks Court Order To Hold NEC Meeting

He said, “With effect from November 1, 2024, NNPCL and LPG producers are to stop exporting LPG produced in the country or import equivalent volumes of LPG exported at cost-reflective prices.”

In terms of the pricing framework, he directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority to meet with stakeholders to derive the pricing framework within 90 days.

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The statement added, “Pricing Framework: NMDPRA will engage stakeholders to create a domestic LPG pricing framework within 90 days, indexing price to the cost of in-country production, rather than the current practice of indexing against external markets, such as those in the Americas and Far East Asia, whereas the commodity is produced in-country and the Nigerian people are required to pay a much higher price for an essential commodity with which the country is naturally endowed.”

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Proffering a long-term solution, the statement noted that within 12 months, facilities will be developed to blend, store, and deliver LPG, ending exports until the market achieves sufficiency and price stability.

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The statement highlighted that the Minister expressed deep concern over the continuous increase in the price of Liquefied Petroleum Gas, popularly known as cooking gas, in the country.

Ekpo’s directives are a step towards addressing the inherent challenges and ensuring that Nigerians have access to affordable cooking gas.

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Otuaro Pledges To Expand PAP Scholarship As Beneficiaries Bag Master’s Degrees From UK Varsities

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Administrator of the Presidential Amnesty Programme (PAP), Dr. Dennis Otuaro, has expressed his unwavering commitment to expanding the PAP scholarship scheme.

The PAP boss made the pledge at a graduation reception for nine students who were awarded foreign post-graduate scholarships by PAP in universities in the United Kingdom.

A statement by his Special Assistant on Media, Mr Igoniko Oduma, said the successful scholars are the first graduates in the offshore post-graduate scholarship deployment to UK institutions by the PAP Administrator, Dr Dennis Otuaro, for the 2024-2025 academic session.

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According to the statement, they graduated from the Anglia Ruskin University, University of Dundee and The University of Law with master’s degrees in cyber security, data science and engineering, law, construction and civil engineering management, project management, and ICT.

READ ALSO:PAP Seeks NCC Partnership On Beneficiaries’ Empowerment

Otuaro disclosed in the statement that 711 undergraduate and post-graduate scholarship beneficiaries are expected to graduate from universities within Nigeria this year.

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According to Otuaro, the expansion of the scholarship scheme is aimed at creating more opportunities for indigent students of Niger Delta extraction to access higher education with a view to closing the human capital development gap in the region.

Otuaro said it was for this reason he deployed 3800 beneficiaries in-country in the 2024-2025 academic year, and increased the figure to 3900 in the 2025-2026 academic session with 200 for foreign scholarships.

He said under his administration, 7700 students have been so far deployed for the PAP scholarship scheme within Nigeria in less than two years.

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According to him, aince he took over, he has deployed 162 students from the region for post-graduate programmes in targeted disciplines in the UK universities.

According to him, this is in conformity with the Renewed Hope Agenda of President Bola Tinubu for the Niger Delta, who has given unprecedented support to the PAP because of his sincere love for the area.

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The PAP boss said, “Our decision aligns with the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu GCFR for the Niger Delta. We will continue to create more higher educational opportunities for students from indigent backgrounds in our region.

“We are also deepening the implementation of the programme’s mandate in informal education and other areas for the sustainable peace and socio-economic advancement of the region.”

READ ALSO:PAP Conducts Verification For 3,171 Scholarship Beneficiaries, Presents 663 Laptops To Final Year Students

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Otuaro, who congratulated the master’s graduates on their successful graduation, stressed that they completed their programmes in record time which shows the seriousness they had put into their studies.

He said they have justified the Federal Government’s investment in their education with their successful graduation, and urged other beneficiaries not to be distracted in their academic pursuits.

We congratulate these scholars on their successful graduation. It shows that they took their studies seriously. That is what we demand of every scholarship beneficiary, whether at the undergraduate or post-graduate level”, Otuaro said.

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Okpebholo Declares Edo Business-friendly

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Governor Monday Okpebholo of Edo State on Friday declared the state as Edo business-friendly environment and ready to welcome any investor to the state.

The governor spoke when he played host to members of the South – South Coalition of the Chambers of Commerce, Industry, Mines and Agriculture (COSSCIMA).

The governor, who received his guests through the Office of the Deputy Governor, Hon. Dennis Idahosa, said his administration has provided the enabling environment for investors to promote their businesses.

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READ ALSO:Oshiomhole Criticises Obaseki’s Govt, Scores Okpehbolo High

The governor commended the COSSCIMA for deeming it fit to choose the stata as host to the annual general meeting of the body.

“It is not surprising that you pick the state as a choice because we have provided the enabling environment by investing in infrastructure and reducing insecurity to the barest minimum.

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“So, we assured potential investors that the state is safe, secured for all to come and invest,” he stated.

Also speaking, Hon. Omoh Anabor, Commissioner for Business, Trade, and Investment, said that the state was ready to partner any firm.

READ ALSO:JUST IN: Okpehbolo Appoints New VC For AAU

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Earlier in his address, President of COSSCIMA, Hon. Indutimi komonibo said, “The Edo State Governor is doing a great job.

He, however, pointed out that nonetheless reiterated, “No government can succeed without partnering with the organized private sector.”

“We seek collaboration wherever we go. We carry the emblem of national development. Investors are looking for where their business will thrive. We understand the language of the business.”

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He stated that COSSCIMA membership cut across the six Chambers of Commerce that make up the South-South states of the federation.

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Oba Of Benin Suspends Priest, Reaffirms Appointment Of Okao

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The Oba of Benin, Oba Ewuare the second, has suspended the traditional priest of Uniamen Village, Chief Sunday Sidney Enoma as the Ohen-Ovia of Unuamen for violating the custom and traditional of Benin.

The Monarch reaffirmed Chief Kingsley Igbinosa as the Okao (traditional head) of Unuamen Village, in Ovia North East local Government Area of Edo State.

READ ALSO:Oke-Oroma Elders Accuse Edo-GIS Officials of Reviving Obaseki’s Controversial Coral City Project

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In a statement by his Chief Press Secretary, Osaigbovo Iguobaro, the Oba described the claim by the suspended Ohen of Unuamen that he is the one who usually installs the Okao of the village as baseless, unfounded and abominable.

The Benin Monarch noted that all Chieftaincy titles in Benin kingdom are conferred by the Oba.

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