Category: Business
Coronation of Alawe,Oladokun III :Amo Farm Sieberer Hatchery rolls Out the Drums
PHOTO CAPTION: From Left to Right: Chief Dotun Odekeye (Aare of Awe), Chief Ogunbode (Aro of Awe), Dr.Ayoola Oduntan (Group Managing Director, Amo Farm Sieberer...
Nigeria’s inflation hits 34.19 in June -NBS
The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate increased to 34.19 per cent in June 2024. The NBS said this in its Consumer...
Fidelity Bank eyes oversubscription to N127.1 billion combined offers
Against the background of groundswell of supports and enthusiasm for the bank’s ongoing offers, Fidelity Bank Plc has started preparations to allow the bank...
FG’s 90,000km Fibre Project:Stakeholders identify Obstacles
Photo Caption:Chief Executive Officer, Skymax Integrated Networks Limited, Engr. Chidi Charles Agukwe; Deputy Director, Policy, Competition and Economic Analyses,...
Miyetti Allah hails Tinubu for establishing Ministry of Livestock Dev’t
The Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), has commended President Bola Tinubu for the creation of the Ministry of Livestock Development....
Understanding the Tinubu tax reforms*
By Dapo Okubanjo It is slightly more than one year into the President Bola Tinubu administration and like many other countries across the world, Nigeria is going...
CIBN appoints UBAs CEO,Alawuba, Body of Banks chair
Photo Caption:UBA CEO,Alawuba The Group Managing Director/Chief Executive Officer, United Bank for Africa Plc, Oliver Alawuba, has been appointed as the Chairman...
Logistics Challenges, Flooding Cause of Fuel Queues says NNPC
…, Stakeholders Vow To Restore Normalcy …calls on motorists to avoid panic buying The Nigerian National PetroleumLtd has attributed logistics challenges and...
Unlock potentials in Nigeria’s non-oil sector,Shettima tells Investors
Nigeria’s Vice President, Kashim Shettima, has urged investors to shift focus from the oil sector to other high-potential areas, highlighting agriculture,...
Nigeria’s journey to CNG Irreversible Says Kyari … ….NNPC Plans to Build Three LNG Stations, 100 CNG Sites The Group Chief Executive Officer of NNPC Limited Mallam Mele Kyari has declared that the drive to bring Compressed Natural Gas (CNG) closer to Nigerians has since commenced and is irreversible. Kyari, who disclosed this on Thursday during the simultaneous commissioning of 12 CNG stations in Abuja and Lagos, said in addition to the massive deployment of CNG stations nationwide, the NNPC Ltd and its partners would also build three Liquefied Natural Gas (LNG) stations in Ajaokuta. “There is simply no way to turn back on delivering CNG for all Nigerians. It is the right thing to do. Is it late? Yes, but we will make progress, we will cover the gap in order to ensure that the volatility we see with Premium Motor Spirit (petrol) does not apply to gas,” Kyari stated. The GCEO commended President Bola Ahmed Tinubu for providing the needed support to drive domestic gas utilisation aimed at delivering cleaner and cheaper source of energy to Nigerians. While assuring that the NNPC Ltd will continue to deliver more strategic gas projects for the benefit of Nigerians in line with the Presidential CNG Initiative of bringing prosperity to all Nigerians, Kyari reaffirmed the determination of the NNPC to guarantee the nation’s energy security. Also speaking at the occasion, the Managing Director, NNPC Retail Limited, Mr. Huub Stokman revealed that in the next one year, NNPC Retail would have launched over 100 CNG sites, including 16 NNPC Gas Marketing and NIPCO Gas JV sites. “CNG provides Nigeria with affordable alternatives to existing available fuel products. It will be about 40% cheaper than petrol in Nigeria and with continued investments, it will become a significant part of our energy mix,” Stokman added. In his remarks, Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo said the commissioning of the stations will not only provide economic benefits by creating jobs and stimulating local economies, it will also contribute significantly to Nigeria’s national goals of reducing emissions and combating climate change. On his part, the Chairman of the NNPC Board of Directors, Chief Pius Akinyelure said increased CNG adoption will foster economic benefits by reducing fuel costs for consumers and businesses alike. Following the removal of fuel subsidy and the declaration of the Presidential Compressed Natural Gas (CNG) initiatives, NNPC Limited has taken the lead in the deployment of Auto-CNG Stations across Nigeria. Already, NNPC Gas Marketing Limited, a subsidiary of NNPC Limited, in partnership with NIPCO Gas Limited has developed an Auto-CNG rollout plan for construction of thirty-five (35) CNG stations across the various geographical zones of Nigeria.
… ….plans to build Three LNG Stations, 100 CNG Sites Photo Caption: GCEO NNPC Ltd, Mallam mele Kyari and Minister of State for Petroleum Resources (Gas),...
