News
Cooking gas price jumps to N1,500/kg
As Nigerians struggle with the high cost of petrol, the price of Liquefied Petroleum Gas, also known as cooking gas, has also increased to N1,500/kg.
But the Managing Director/Chief Executive Officer of NIPCO Plc, Suresh Kumar, said the Dangote refinery and other domestic refineries would bring down the price of cooking gas, expressing concerns that over 60 per cent of cooking gas consumed in Nigeria is being imported.
Checks by our correspondent confirmed that the prices of cooking gas peaked at N1,500/kg in some retail outlets in Ogun and Lagos States as of Sunday.
In Abuja, the average price for refilling a 12.5kg cylinder of cooking gas has increased by 41.6 per cent to N17,000 in different areas.
The PUNCH reports that the same commodity sold for N12,000 in July and N11,735 in January 2024.
This sharp price rise reflects ongoing trends in the market and may have implications for consumers, many of whom rely on LPG for their daily cooking needs.
In August, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, promised to ensure a reduction in the rising cost of a kilogram of cooking gas.
Ekpo noted that he would invite the regulators and the gas producers to find ways to bring down the cost.
However, a new market survey conducted by our correspondent on Sunday revealed that the price has not decreased; instead, it has risen even further.
An analysis showed that the product currently sells for N17,000 in Lokogoma area of the FCT, an increase of 41.6 per cent from N12,000 vendors sold to customers three months ago. This means one kilogram of gas was sold for N1,400.
In Kubwa, the product was sold between N16,200 and N16,500 from N12,000 previously charged. But in the outskirt area of Bwari, Kurudu and Jikwoyi, the product sold for N1,300.
Some major distributors still sell the product between N1,300 and N1,400 depending on the location.
The Commissioner for Environment in Ogun State, Ola Oresanya, once told one of our correspondents that many might resort to charcoal for cooking if the price of LPG continues to rise.
However, speaking at the just-concluded National Conference of the Nigerian Association of Liquefied Petroleum Gas Marketers 2024, held in Lagos, Kumar, revealed that local production of LPG remains inadequate, urging the Federal Government to encourage Chevron to convert more of its propane output into propane.
“Currently, less than 40 per cent of the 1.5 million metric tonnes consumed domestically is produced locally. This is why the government must encourage companies like Chevron to convert more of their propane output into butane, which is more suitable for domestic use,” he explained.
Responding to questions about the rising cost of LPG amid a blend of local and imported supply, the managing director expressed optimism that prices would decline as domestic production improves, especially as the local refineries source crude oil locally.
“With the Dangote refinery and other refineries now sourcing crude oil in local currency, the volume of LPG produced locally is expected to increase, which will, in turn, drive down the price of the commodity,” the MD explained.
He added, “There is hope that the reliance on imported LPG will decrease, which will positively influence the prices at which the product is sold domestically. Greater local production will make LPG more affordable since it reduces exposure to foreign exchange fluctuations and international pricing dynamics.”
According to him, boosting local production would attract further investments in pipelines, storage, and bottling facilities, as well as expand retail outlets and LPG depots across Nigeria.
“Our latest assessments show that the existing downstream infrastructure is capable of handling up to 5 million MT annually. This means we are ready to accommodate increased production from both associated and non-associated gas fields within the country,” the MD said.
He urged the government to introduce incentives to encourage investments in gas processing.
According to him, NIPCO, which has been operational since 2004, initially entered the industry as a marketer of white products (petroleum fuels).
He, however, emphasised that the company’s long-term vision has always been to become a leader in the marketing and distribution of LPG.
Kumar said, “Our strategy was driven by the fact that Nigeria has over 200 trillion cubic feet of gas reserves. We believe that the country’s gas consumption must be optimised through the promotion of both LPG for domestic use and CNG for the industrial and transportation sector.”
He further emphasised the company’s investments in infrastructure, noting that NIPCO has expanded its LPG operations significantly over the years.
“In 2008, we invested in an LPG facility in Apapa with a capacity of 5,000 metric tonnes. Today, that same facility has grown to over 20,000 metric tonnes, thanks to strategic partnerships with our subsidiaries.
“We have also deployed LPG tankers and established multiple stations across Nigeria to ensure easy access to cooking gas for households nationwide,” Kumar revealed.
He further explained that while LPG is essential for homes, CNG will play a key role in powering industries and transforming the transportation sector.
The managing director added, “At the time NIPCO entered the market, Nigeria’s domestic LPG consumption was around 50,000 metric tonnes annually,” he stated.
“However, the past 16 to 17 years have been a remarkable journey. Today, the market has grown from 50,000 MT to approximately 1.5 million MT per year.”
Despite the growth, Kumar pointed out that significant potential remains untapped, saying less than 60 per cent of Nigeria’s 200 million population has embraced the use of LPG.
“Our vision is to harness these opportunities and grow the country’s LPG consumption from 1.5 million MT to levels more appropriate for a population of over 200 million people.
“We must work with the Nigerian Midstream and Downstream Petroleum Regulatory Authority and other stakeholders to end gas flaring in the country. Substantial investments are needed to capture and process flared gas to increase domestic supply beyond the current 1.5 million MT to at least 5 million MT annually,” he stressed.
The NIPCO boss acknowledged that demand for LPG in Nigeria has been relatively stagnant due to the high cost of the product.
“The current high prices have limited consumption growth, but this situation is only temporary. With more players entering the gas processing sector, we anticipate a market correction soon,” he stated, believing that the market would stabilise in the long run.
He urged the Federal Government to support local refineries, including the Dangote Refinery, to boost domestic gas production.
“It is crucial for the government to back these refineries in their efforts to significantly increase LPG output. This will drive down retail prices and make the product more accessible to Nigerians,” he posited.
Credit: PUNCH
News
Nigerian Varsity LAUTECH Hikes Tuition Fees, Fresh Students To Pay About N400k Per Session
By Kayode Sanni-Arewa
The management of the Ladoke Akintola University of Technology (LAUTECH) Ogbomoso, Oyo State, has reportedly increased fees for undergraduate students in the institution.
This was contained in a document posted ny the school authorities on Saturday, noting that LAUTECH had increased tuition fees for 2024/2025 fresh students.
The management of the Ladoke Akintola University of Technology (LAUTECH) Ogbomoso, Oyo State, has reportedly increased fees for undergraduate students in the institution.
This was contained in a document posted ny the school authorities on Saturday, noting that LAUTECH had increased tuition fees for 2024/2025 fresh students.
It added that it ranged from N372,000 to N782,000, depending on faculties and state of origin.
“LAUTECH increases tuition fees for 2024/2025 fresh students, ranges from 372k to 782k, depending on faculties and state of origin,” a Facebook user, who shared the document, wrote.
A student of the University who confirmed the development to SaharaReporters recalled that the students of the institution previously paid fees which ranged from N261,000 to N283, 000.
The student explained that the management has now fixed new fees at N372, 000 to N782,000, stating that students studying medicine are now paying N782,000.
“Our fees in 2023/2024 session ranged from N261,000 to N283, 000, but the management has now fixed new fees at N372, 000 to N782, 000 for 2024/25 session.
“The students studying medicine are now to pay N782, 000,” the student added.
Before the recent alarming increment, the Oyo State government had announced 25 per cent reduction in the tuition of students of LAUTECH.
Governor Seyi Makinde made this known in 2021 while paying a visit to the students of the institution.
Makinde had said the reduction was done despite the fact that the LAUTECH tuition was the lowest in the entire South-West.
He added that the reduction would cut across the board.
He said he had fulfilled the promises he had made to the students during electioneering having fixed the Under G Road and actualised the sole ownership of LAUTECH for Oyo state.
“Let me tell you, the LAUTECH fee is still the lowest in the entire South-West. Having said that, I will reduce your fee across the board; whether indigenes or non-indigenes, even new students. There will be a reduction of 25 per cent across board,” the governor had said.
News
Kano Police arrest 82 persons for alleged kidnapping, theft and assault
By Kayode Sanni-Arewa
The Kano State Command of the Nigeria Police Force has arrested a total of 82 suspects on suspicion of various crimes committed in the state between November 1 and 14 this year.
Crimes allegedly committed by the suspects include kidnappingarmed robberies, violence, telephone theft and drug trafficking.
Revealing details of the arrest during a press conference at the command headquarters, Bompai, Kano, the Police Public Relations Officer, Abdullahi Kiyawa, said the arrests were the result of a crime-fighting strategy adopted by the command.
“The implementation of these strategies has yielded positive results as they have led to the crackdown on criminal networks such as curtailing Remnants of Violent Activities (Daba) within Kano Metropolis.
Others include dismantling armed robbery syndicates along Jigawa-Kano and Bauchi-Kano borders and foiling kidnapping incidents along Kaduna-Kano and Katsina-Kano borders.
“These operations conducted resulted in the arrest of a total of 82 suspects and the recovery of firearms, dangerous weapons, illegal drugs and stolen property.
“Items recovered from the criminals included an AK-47 rifle and three locally made weapons, 13 machetes and 16 knives.
“Others include: three motorcycles, a tricycle, 50 bags of diazepam tablets, 42 bags of tramadol tablets, 24 packets, 175 wrappers of dried leaves suspected to be hemp and 10 mobile phones,” he said.
Kiyawa, representing the state Commissioner of Police, Salman Dogo, expressed that the achievements are a reflection of the command’s commitment to maintaining law and order.
He emphasized that the command would persevere in strengthening its various strategies, including community policing and strategic communications aimed at raising public awareness on security issues.
In addition, he emphasized the importance of intelligence-led policing and targeted clearance operations that have successfully disrupted criminal networks, especially in local government border areas.
He expressed gratitude to Governor Abba Yusuf for donating 78 patrol vehicles to the command, which will significantly strengthen its operational capabilities and response times, thereby improving service delivery to the citizens of the state.
News
Ribadu hands over 58 abductees including children to Kaduna govt
By Kayode Sanni-Arewa
No fewer than 58 people rescued by the Nigerian security agencies in joint operations have been handed over to the Kaduna State government.
It was gathered that the victims comprised 35 males, 23 females, children and toodlers were kidnapped by suspected armed bandits under the command of a notorious bandit called Janbros.
The victims were said to have made to trek for hundreds of Kilometers through the thick forest of Birnin Gwari during the kidnap.
The National Security Adviser (NSA), Mallam Nuhu Ribadu, on Saturday, handed over the victims to the Chief of Defence Staff (CDS), Gen. Christopher Musa, who would hand them over to the government.
Musa who affirmed that no money was paid for their rescue, presented the victims to the representative of the state government and Chief of Staff to the Governor, Sani Kila.
He stated that all Nigerians must take ownership of the operation for the security agencies to succeed.
”The rescue is as a result of combined efforts of the military and other security services. The operation was both kinetic and non-kinetic which requires efforts by all and not just the military kinetic efforts.
“What we are seeing out of this, is the success of the collaboration right from the top. From the presidency, to the Office of the National Security Adviser, Ministry of Defence to all agencies working together, including the Kaduna State government.
“The governor has been very supportive and very helpful and it is this collaborative effort that has made it possible for us to be able to rescue these individuals.
“It is a joint effort and we were able to do that through non-kinetic means of getting across. No penny was paid for these individuals.”
“Now, I want Nigerians to understand that if we do not work together, it will be extremely difficult for us to succeed.
“The success depends on all of us working together because it is a whole-of-society approach,” he said.
Musa said that certain individuals had been trying to make it impossible for the government to succeed by sabotaging the efforts of the government.
He added that the security agencies were working round the lock tirelessly to make sure Nigerians feel safe and protected.
“Today is Saturday, many people would have wanted to be home, relaxing, but we are working. Saturday, Sunday, day and night and all Nigerians have keyed up, and everybody is contributing to the success we are seeing.
“I want to also inform Nigerians that we will continue to work hard together and will not leave any stone unturned until every Nigerian that is in captivity is freed and Nigerians are free to move about within the country, both day and night, as it used to be before.
“We assure Nigerians that we are getting all the support to ensure that we work, and we assure Mr. President that we will do everything possible, and including Nigerians, until we succeed, we’ll continue to push,” he added.
The defence chief clarified that contrary to the believes of many, not all persons involved in banditry were willing tools, adding that some were conscripted.
He said the military would continue to go after the perpetrators, adding that “they will not be let free for the innocent blood they have shed.”
Meanwhile, the National Coordinator National Counter Terrorism Centre (NCTC), Maj Gen Adamu Laka, said the victims were kidnapped from their homes and farmlands in Gayam, Sabon layi and Kwaga villages of Dan Musa Local Government Area of Katsina State.
Laka said that troops of 1 Division, on November 14, at about 1500hrs successfully led a joint operations leading to their rescue.
He noted that the victims comprised 35 males and 23 females.
According to the him, preliminary investigation revealed that the victims were kidnapped by suspected armed bandits under the command of a notorious bandit called Janbros.
“During the kidnap, the victims were made to trek for hundreds of Kilometers through the thick forest of Birnin Gwari.
“Upon their rescue, the government provided them with all the necessary assistance required to stabilise them for subsequent handing over to ONSA for rehabilitation and immediate medical checkups, where they have been examined and six were admitted.
“The six admitted victims have recovered and joined us for subsequent handing over to their respective families,” he said.
The Chief of Staff to Kaduna Governor, Sani Limankila thanked the security agencies and called on all Nigerians to team up with security agencies to end kidnapping.
-
News23 hours ago
Another Popular Actor Passes Away + Photo
-
News22 hours ago
CBN Directs Banks to Prioritize ATM Cash Distribution Amid Rising Demand
-
News23 hours ago
Police reject N174m bribe, arrest suspected internet fraudster
-
News22 hours ago
Food, fuel price hikes push Nigeria’s inflation to 33.88% in October
-
News19 hours ago
Gov Okpebholo Makes Six Fresh Appointments In Edo
-
News23 hours ago
$1/N10,000 Claim: Drama As Pastor Adeboye Makes U-turn, Blames Petrol Importers
-
News17 hours ago
Bread and butter activists: Wike not available for such adult delinquents-Olayinka slams Adeyanju
-
News22 hours ago
Ondo Guber: All polling units to open at 6am – INEC