Business
Nigeria Requires $20bn Annually For Gas Expansion Projects – NEITI
Published
2 years agoon
By
Editor
The Nigeria Extractive Industries Transparency Initiative (NEITI) says Nigeria requires $20 billion annually to achieve the desired gas expansion plan to bridge the country’s gas infrastructure.
Dr Orji Ogbonnaya Orji, NEITI Executive Secretary, at the policy dialogue on Nigeria’s Decade of Gas Action plan on Monday in Abuja said given the shrinking fossil fuel investment landscape, clarity was required of infrastructure to be prioritised.
The dialogue was organised by the African Initiative for Transparency, Accountability and Responsible Leadership (AFRITAL) in collaboration with the Natural Resource Governance Institute (NRGI).
The Federal Government in December 2020 rolled out the National Gas Expansion Programme (NGEP) to deepen the use of natural gas and make it a preferred form of cleaner, cheaper energy for both personal and industrial use.
In a remark, Orji said Nigeria had the largest gas reserves in Africa and the ninth-largest globally with gas reserves of over 200 trillion cubic feet (tcf).
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“The Petroleum Industry Act (PIA) provides the most significant progress for the gas sector in strengthening governance and providing fiscal frameworks for the sector’s growth.
“The gas utilisation plan should show the market-driven opportunities that would successfully translate the gas plans into sustainable economic development.
“For the gas utilisation policy to work, there is a compelling need for deliberate ambitious investment in its infrastructure. This includes specific connectivity across upstream facilities to processing, power plants and other end uses.
“The network code provides a framework through third-party access to resolve some of the connectivity issues but to a large extent, achieving the desired gas expansion will require an estimated $20 billion annually,” he said.
Orji said that a new concept analysis would be required to demonstrate the new approaches the government intends to embrace to deliver on the gas infrastructure.
He recommended that the Federal Government should develop and publish a detailed, realistic, coated and comprehensive gas policy with clear roles for the state, and non-state actors and timelines to track periodic progress.
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Orji urged government to develop an industry-specific linkage between the integrated gas policy with Nigeria’s energy transition policies with a supporting action plan built on a robust monitoring and evaluation framework to track implementation.
He also called for a detailed plan to end gas flaring through a private sector-led commercialisation programme and pursue an open, competitive and transparent gas flare commercialisation programme,” he said.
Earlier, Dr Louis Ogbeifun, the Executive Director AFRITAL, had decried the fact that Nigeria is so rich in gas, but most of its citizens use firewood or coal for cooking with all its attendant health hazards.
“Over the years, Nigeria has behaved like the prodigal son by exporting mineral resources to earn dollars for consumption without savings, reinvestment in revenue, and employment generation ventures.
“These analogies reflect the contradiction of being a rich but poor nation. Rich because Nigeria is vastly rich and blessed with abundant minerals and energy resources but so poor that most citizens lack access to affordable electricity and other essential social and welfare benefits,” Ogbeifun said.
He said in a bid to reverse the highlighted negative narrations, achieve energy accessibility, afordability, and sustainability as a country that the 2021-2030 government legislation tagged the “Decade of Gas Action Plan (DofG)” was enunciated.
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According to him, If the government’s intentions are effectively implemented, Nigeria is expected to witness a vast gas Infrastructural development during the period.
He said part of the stepping stones toward achieving the goals of DofG was the construction of the 614km Ajaokuta-Kaduna-Kano gas pipeline to transport about two billion of natural gas per day.
“This and other initiatives are also aimed at deepening the usage of LPG and CNG in the country and ultimately expanding the Autogas policy, which would reduce dependency on petrol as our mainstay for transportation in the long run.
“Before the AKKP project, Nigeria conceptualised the Nigeria-Morroco Gas Pipeline, as an extension of the West Africn Gas Pipeline, which would run through some African countries with a possible linkage to European market.
“This project was conceptualised in 2016. Outside the NLNG project, the Nigeria-Morrocco Gas Pipeline project would meet the international focus even as the local expansion of the LPG and CNG are also being pursued.
“Let us hope that our leaders would cautiously navigate the rough edges of the coup in the Niger Republic to forestall the risks of sabotage of this project by international state and non-state actors,” he said.
Also speaking, Mr Aaron Sayne of NGRI, called for tackling of foreign exchange and policy issues, investment and access to finance on gas project while indigenous players should take place of the International Oil Companies.
Mrs Oluremi Komolafe, Director, Gas, Ministry of Petroleum Resource, said the ministry would remain was committed to energy transition.
Komolafe added that the NGEP was making way toward its realisation, while Compressed Natural Gas engines conversion was ongoing, noting that production would be spured to meet demand.
(NAN)
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Business
NNPCL Reduces Fuel Price After Dangote Refinery’s Adjustment
Published
2 weeks agoon
August 14, 2025By
Editor
The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price on Thursday, according to DAILY POST.
It was confirmed that NNPCL retail outlets in the Federal Capital Territory, Abuja, have reduced their pump price to N890 per litre from N945.
This new fuel price has been reflected in NNPCL retail outlets such as mega station Danziyal Plaza, Central Area, Wuse Zone 4, Wuse Zone 6, and other of its filling stations in the nation’s capital.
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The latest downward review of fuel price in NNPCL outlets represents an N55 reduction in fuel pump price.
“It was reduced to N890 per litre this afternoon, down from N945,” an NNPCL fuel attendant told DAILY POST anonymously on Thursday.
This comes a Nigerian filling station, MRS Empire Energy, on Thursday adjusted their fuel pump price to N885 and N946 per litre, down from N910 and N955 per litre.
The latest fuel price reduction trend is unconnected to Dangote Refinery’s ex-depot petrol price adjustment by N30 to N820 per litre from N850 and the price of crude oil in the international market.

Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit, PMS, commonly known as petrol, by N30, from N850 to N820 per litre, effective from August 12, 2025.
This was disclosed in a statement by the company’s spokesman, Anthony Chijiena, on Tuesday.
The 650,000-barrel-per-day plant said the move is part of its unwavering commitment to national development, assuring the public of a consistent and uninterrupted supply of petroleum products.
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“In line with our dedication to operational excellence and sustainable energy solutions, Dangote Petroleum Refinery will commence the phased deployment of 4,000 CNG-powered trucks for fuel distribution across Nigeria, effective August 15, 2025,” said Chijiena.
The announcement comes as the refinery prepares to commence direct fuel distribution nationwide. The development is expected to lead petroleum product marketers to reduce their pump prices in the coming days.
In Abuja, the retail fuel price stood between N885 and N970 per litre as of Tuesday evening.
Business
Indian Refiners Abandon Russia For Nigerian Crude, As Dangote Refinery Relies On US
Published
3 weeks agoon
August 11, 2025By
Editor
India Refineries have abandoned Russian crude for Nigerian crude, while domestic refiner Dangote Refinery relies heavily on West Texas Intermediate crude from the United States of America.
This followed a recent sanction threat by US president Donald Trump on India over continued patronage of Russian crude.
According to Reuters, industry sources said that Indian Oil Corporation recently bought one million barrels of Nigeria’s Agbami crude for September 2025 delivery in a tender awarded to global trader Trafigura.
Also included are one million barrels of Angola Girassol, one million barrels of US Mars, three million barrels of Abu Dhabi Murban, and two million barrels of Nigerian oil, according to Reuters.
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The report noted that the purchase is part of a broader sourcing spree that has seen Indian refiners secure millions of barrels from non-Russian sources post July 2025.
Meanwhile, Indian refiners secured purchases of Nigerian crude grades; the $20bn Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, is relying on around 60 percent on US and other imoorts to feed its processing units.
Data showed that the refinery imported an average of 10 million barrels in July 2025, saying it was increasingly relying on the US for its feedstock despite the naira-for-crude deal with the Federal Government, which kicked off in October last year.
According to Reuters, the Indian Oil Corp and Bharat Petroleum have bought a million barrels of non-Russian crude billed for delivery in September and October after the US pressured India to halt purchases from Russia.
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Indian state refiners had been largely absent from the Nigerian crude market spotlight since 2022; they have in the past concentrated on Russian crude amid the Russian-Ukrainian war. However, the Indian refiners paused Russian purchases in late July 2025 after pressure from US President Donald Trump.
On the part of Dangote Refinery, data from commodities analytics firm Kpler showed that in July, US barrels accounted for about 60 percent of Dangote’s 590,000 barrels per day of crude intake, with Nigerian grades making up the remaining 40 percent.
In July, the Dangote refinery’s crude imports surged to a record 590 kbd—driven largely by US barrels overtaking Nigerian supply for the first time—amid ongoing domestic sourcing challenges, Kpler reports.
“While WTI has held a significant share in Dangote’s import slate since March, this is the first time US crude has overtaken Nigerian supply—a shift driven by several factors,” Kpler stated.
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