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NNPC Moves To Crash Price Of Cooking Gas

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The Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari, on Monday announced that NNPC was currently increasing the supply of Liquefied Petroleum Gas, popularly called cooking gas, in a bid to force down its price.

Kyari, who announced this at the inauguration of a 120-metric tonnes LPG storage and bottling plant by Emadeb Energy Services Limited in Abuja, however, explained that the hike in cooking gas price was an international issue.

The cost of LPG has been rising since this year, jumping by more than 240 per cent between January and October 2021, a development that has forced many LPG users to shift to charcoal or firewood.

Commenting on the hike in LPG price, while speaking to journalists on the sidelines of the event in Abuja, Kyari said, “Two things are in play.

“One is the supply in the international market of gas. It moves with the price of every other petroleum product including crude oil and its derivatives.

“So definitely, it is a reflection of what is happening in the international market. However, what we are doing is to increase supply, and once supply increases, the price will come down.”

The Managing Director/Chief Executive Officer, Emadeb Energy Services, Mr. Adebowale Olujini, urged the government to support LPG investors considering the cost required to invest in the sector.

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1 Comment

1 Comment

  1. Temitope Onigbinde

    December 14, 2021 at 8:52 am

    Make this people sha no try nonsense

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BIG STORY

Customs Adjust FX Rate For Import Duties To N1,147/$

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The foreign exchange (FX) rate for duties has once again been modified by the Nigeria Customs Service (NCS) to N1,147.02 per dollar.

When compared to the N1,238.1/$ reported on April 18, this indicates a decline of 7.3 percent. On Friday, the customs rate was observed.

It dropped below the official foreign exchange rate, which ended trading at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on April 18 at N1,154/$.

The drop in the FX rate for customs tariffs and duties is coming amid the Central Bank of Nigeria‘s (CBN) effort to stabilise the naira.

On April 17, the naira appreciated to N1,050 at the parallel section of the FX market, from the N1,100/$ traded on April 15.

Meanwhile, on April 16, President Bola Tinubu inaugurated the national single window (NSW) project to boost trade in Nigeria.

NSW is an electronic portal linking all agencies and players in import and export processes to an integrated platform.

Speaking on the development, Adewale Adeniyi, the comptroller-general (CG) of Nigeria Customs Service (NCS), said the country is making progress with consultations on the reopening of the borders with Niger Republic and Benin Republic.

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BIG STORY

8 Nigerians In South Africa Police Net For “Attacking Officers During Drug Raid”

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Eight Nigerians have been taken into custody by the South African police for reportedly fighting police during a drug operation.

The suspects were taken into custody in the province of the Northern Cape, the police said in a statement released on Friday.

According to the police, the suspects also caused damage to other properties and cars.

“At the time of the arrest, police were tracing information of one of the Nigerian nationals being in possession of drugs,” the statement reads.

“While conducting this search, a large group of Nigerians attacked police. Police fired rubber bullets to disperse the crowd.

“One suspect was arrested for illegal possession of drugs, and three suspects were arrested for public violence and detained at Kimberley Police Station.

“During processing, the suspects broke windows at the station. Additional charges of malicious damage to property were added.

“Another group of Nigerians later approached the Police Station and threatened to retaliate.

“The Operational Commander warned the group to disperse.

“However, upon dispersing, the group damaged police vehicles. Another four suspects were arrested for malicious damage to property.”

Koliswa Otola, police commissioner for the province, commended officers for the arrest of the suspects.

Otola condemned acts of violence against law enforcement agents, saying those who prevent police from exercising their duties “will be dealt with harshly”.

“We will not allow such lawless behaviour,” the commissioner said.

“We are processing the suspects and working with Home Affairs to determine if they are legally or illegally in the country.

“Police will continue to stamp the authority of the state in the Northern Cape Province.”

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BIG STORY

BREAKING: Minister Test Runs e-Gates At Airports

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The Nnamdi Azikiwe International Airport’s electronic gates (e-gates) were tested on Friday by Interior Minister Dr. Olubunmi Tunji-Ojo, who claimed that 99 percent of the work was completed.

He stated that by the next week, the e-gates would be operational.

Among the other high-ranking government officials that joined Tunji-Ojo were Dr. Aishetu Ndayako, Permanent Secretary in the Ministry, and Kemi Nanna Nandap, Comptroller-General of Immigration.

He said the e-gates were being deployed to eliminate human interfaces, reduce bureaucracy and make movements of passengers in and out the country seamless.

The Minister said 29 of the e-gates would be deployed in Lagos, four in Enugu and Kano while Port-Harcourt would have five.

He disclosed that the Airport infrastructure and Command and Control Centres have been subjected to different tests with fake and expired passports rejected while genuine ones were cleared.

Tunji-Ojo said:” With this massive infrastructure, we believe that no unwanted persons or persons of interests can find their ways into Nigeria. Our security through the Airports and in the Airport domains are guaranteed.

“It is a testimony to what Mr President told us from day one on his Renewed Hope Agenda. He asked us to change the narratives and make passengers movements in and out of the country seamless.

 

“You can see that we have all our team here working in synergy with the authorities of the Federal Airport Authority of Nigeria, (FAAN) the Nigeria Customs Service and other stakeholders.

“I must at this point commend the Minister of Aviation, Hon Festus Keyamo (SAN) and other critical stakeholders who have made this transformation possible.”

 

 

More to come…

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