Category: Business
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),...
Recertification: NCAA suspends 10 private jet operations
The Nigeria Civil Aviation Authority (NCAA) has suspended ten private jet operations over failure to begin recertification process. This is contained in a...
£2.6bn Fraud: Petro Union Directors Lose Bid to Stop Trial
A Federal High Court in Lagos on Wednesday dismissed a No-Case-Submission application filed by three Directors of an oil firm, Petro Union Oil and Gas Limited,...
Finance Minister, Edun confirms $700 mln in debt service payments
Photo Caption:Minister of Finance,Wale Edun Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun has confirmed that the federal...
Tinubu appoints,Abdul, Chair,board of Nigerian Consumer Credit Corporation
President Bola Tinubu has constituted the Board of newly created Consumer Credit Corporation( Credit Corp)in order to further expedite the process of...
Human Capital Development:Origin Tech Group partners LBS
…To collaborate on LBS Agribusiness Management and Greener HOPE Agricultural Productivity Programme PHOTO CAPTION: L – R: Afolabi Oyewunmi,...
Union Bank promotes 337
…It’s celebration of Excellence-Oni Union Bank of Nigeria has announced the promotion of 337 employees across various departments. Managing Director of the...
Africa Social Impact Summit 2024:Development Bank partners Sterling One Foundation
Photo Caption: Dr. Tony Okpanachi, Managing Director and CEO of the Development Bank of Nigeria (DBN), and Mrs. Olapeju Ibekwe, CEO of Sterling One Foundation Sterling...
It’s Now Total War against obstacles to crude oil production says Kyari
…Calls for Collaboration to Reduce Production Cost In a move towards increasing Nigeria’s crude oil production and growing its reserves, NNPC Ltd has declared...
