Connect with us

NEWS

FG To Launch 100 New CNG Stations Nationwide Within Six Months

Published

on

As part of its ongoing efforts to promote the use of cleaner, more affordable fuel alternatives to petrol, the Federal Government will be launching 100 new Compressed Natural Gas (CNG) stations across Nigeria in the next six months.

This initiative aims to reduce the cost of fuel for Nigerians while also supporting the country’s energy transition goals.

Read Also: Davido To Drop 1st Single Of The Year “AWUKE

Speaking at an event in Ogun State, Oluwagbemi Michael, the Programme Director and Chief Executive Officer of the Presidential Compressed Natural Gas Initiative (PCNGI), revealed that the Nigerian National Petroleum Company Limited (NNPC) had already acquired equipment to establish 40 of these new CNG stations.

This comes in addition to 12 stations the NNPC has set up in the past year, with six in Abuja and six in Lagos.

Oluwagbemi noted that the government’s goal is to improve the accessibility of CNG as a cleaner, cheaper alternative fuel, addressing public concerns over the limited availability of CNG refuelling stations.

He explained that the expansion is backed by an active infrastructure development programme, in collaboration with the Midstream and Downstream Gas Infrastructure Fund.

“Two weeks ago, about N122 billion was released to six private organisations investing in the CNG distribution value chain,” Oluwagbemi said. “This will ensure that we have sufficient CNG distribution infrastructure across the country.”

In addition to the NNPC’s efforts, several private companies are also contributing to the expansion of CNG infrastructure.

Companies such as Bovas, NIPCO, Matrix, and MRS are investing heavily in the sector, with Bovas working on eight stations and NIPCO adding 12 more to their existing network of 10 stations.

The PCNGI CEO noted that Nigeria had only 13 to 20 CNG refuelling stations a year ago, but that number has grown to 50 today.

He expects this figure to double within six months, driven by ongoing investment and government support.

The federal government is also pushing the distribution of one million CNG conversion kits to commercial drivers and providing credit schemes for private individuals to convert their petrol-powered vehicles to CNG.

Oluwagbemi assured Nigerians that as more vehicles convert to CNG, the demand for refuelling stations will continue to rise, encouraging more private investment in the sector.

He also confirmed that existing petrol stations could be upgraded to offer CNG services, with the NNPC already working on 40 such upgrades.

He emphasized that the government is committed to creating a robust CNG infrastructure to support the country’s energy transition, reduce fuel costs for Nigerians, and provide a cleaner, safer alternative to petrol.

 

NEWS

We Load 2,900 Trucks Daily, Evacuate Products By Sea – Dangote Refinery

Published

on

 

The Dangote Petroleum Refinery and Petrochemicals has explained that talks were still ongoing on the sale of refined products to the Independent Petroleum Marketers Association of Nigeria (IPMAN).

This was detailed in a statement on Thursday evening by Dangote’s Group Chief Branding and Communications Officer, Anthony Chiejina.

Under the subject, ‘IPMAN: Setting the Record Straight’, the statement made to clarify stories being bandied in the media space on the difficulties being experienced by IPMAN member on purchasing products from Dangote.

ALSO READ: Dangote Backs Tinubu’s CNG Initiative With Over $280m Investment

Chiejina wrote, “The Dangote Petroleum Refinery wishes to clarify that it has not received any payments from the Independent Petroleum Marketers Association of Nigeria (IPMAN) to purchase refined petroleum products.

“Although discussions are ongoing with IPMAN, it is misleading to suggest that they (IPMAN Members) are experiencing difficulties loading refined products from our Petroleum Refinery, as we currently have no direct business dealings with them. “Consequently, we cannot be held responsible for any payments made to other entities.

“The payment in mention has been made through the Nigerian National Petroleum Company Limited (NNPCL), and not us. In the same vein, NNPCL has neither approved, nor authorised us to release our Premium Motor Spirit (PMS) to IPMAN.

“We would like to emphasise that we can meet the nation’s demand for all petroleum products, including petrol, diesel, and aviation fuel. At present, we can load 2,900 trucks per day and we have also been evacuating petroleum products by sea. We advise IPMAN to register with us and make direct payment as we have more than enough petroleum products to satisfy the needs of their members.

“Furthermore, we believe it is instructive for all stakeholders to refrain from making unfounded statements in the media, as that could undermine the economic re-engineering efforts of His Excellency, President Bola Ahmed Tinubu. Conducting business through public speculation is counterproductive and unpatriotic.

“In the interest of our country, we encourage all stakeholders to collaborate and heed the advice of President Tinubu, while promoting a unified approach, rather than engaging in media conflicts and needless propaganda.”

Continue Reading

NEWS

REBUTTAL: Rivers Denies Shutting Nigeria’s Oil Production Facilities

Published

on

 

The Rivers State government has denied a story about her reaction to an obnoxious court ruling baring the Federal Government from releasing her monthly allocations by shutting Nigeria’s Oil production facilities within her territory.

This was disclosed in a statement issued on Thursday in Port Harcourt under the signature of Hon. Commissioner for Information and Communications, Rivers State, Warisenibo Joe Johnson.

Recall that a Federal High Court sitting in Abuja had ordered the Central Bank of Nigeria (CBN) to stop disbursing Federal Allocations to Rivers State until the issue of proper passage of the 2024 budget is resolved.

ALSO READ: Internet Fraud: EFCC Arrests Seven Suspects In Abuja

However, Johnson vehemently denied what he described as “spurious news item circulating on social media”.

Under the subject ‘Re: Rivers State Governor Sim Fubara Shuts Down NNPCL’, he maintained that “The report was not only false, but a concocted propaganda from the imagination of the author and enemies of the State.”

The statement reads, “The attention of Rivers State Government has been drawn to a spurious news item circulating on social media on “Gov. Siminalayi Fubara shutting down NNPCL and all oil companies in Rivers State”.

“The report was not only false, but a concocted propaganda from the imagination of the author and enemies of the State. The story was also circulated by an inconsequential and unverified medium.

“Governor Siminalayi Fubara is committed to the rule of law and does not rely on unconventional and crude approaches to respond to matters of governance.

“We therefore enjoin Rivers people and well-meaning Nigerians to discountenance the spurious and fake report as Governor Fubara at no time contemplated and/or directed such needless order of shutting down the economy for any reason.”

 

Continue Reading

NEWS

Budget 2025: Adeleke Presides Over Treasury Board Sittings, Tasks MDAs On Performance

Published

on

Osun State Governor, Senator Ademola Adeleke chaired the Treasury Board meeting for the 2025 budget, on Thursday and issued a strong admonition to Ministries and Agencies to sustain budget performance on all fronts.

Members of the Treasury Board include the Deputy Governor, Prince Kola Adewusi; Secretary to the State Government, Hon Teslim Igbalaye; the Chief of Staff to the Governor, Hon Kazeem Akinleye; Head of Service, Elder Ayanleye Aina; Attoney General/HCJustice and HC Finance; the Accountant General; Chairman of State Internal Revenue Service among others.

ALSO READ: BREAKING: New Tax Reforms, Not Tweaked Against North – FG

The Governor scrutinised proposals of various Agencies submitted through the Ministry of Budget and Economic Planning.

The State Governor noted that presentations by the agencies are encouraging but called for a more innovative approach to Revenue and Expenditure process and practice in line with the fiscal procedures and extent laws.

According to the State Governor, the real value of federation allocations to the state has dwindled despite the slight increase in the nominal value but to have a sustainable budget performance for the good of the citizens, political heads and accounting officers should think out of the box by emphasizing high priority projects and programmes.

“I task heads of ministries and agencies to focus on high priority projects. The resources are limited, and our needs are much. So we have to balance both ends by avoiding frivolous programmes and emphasizing areas promoting the five point agenda of this administration.

“You are to conduct full due diligence on your various sectors and programmes. Revenue generation must be driven with vigour but with a human face. Value for money is also key in state expenditure”, the State Governor charged the various ministries and agencies led by the Commissioners and Special Advisers.

Earlier in his presentation, the Commissioner for Budget and Economic Planning, Prof. Moruf Ademola Adeleke assured that the report of the Treasury Board will be submitted to the State Executive Council for approval as a draft budget for presentation to the State Assembly.

He informed the Governor and other state officials that the budgetary process is on schedule to meet the timeline for final processing and approval by both the State Executive Council and the House of Assembly.

Sectors already covered by the Treasury Board meetings include Education, Solid minerals and infrastructure sectors. The board sitting continues today with the Permanent Secretary, Ministry of Budget and Economic Planning, Mrs Yetunde Esan, coordinating the process

Continue Reading

Copyright © 2022. Biztellers, powered by Alphaxristi.