Tag: GAS

Gas generators, CNG/LPG dual fuel vehicle, 61 items exempted from VAT – FG

Aminu Imam
FG on VAT

The Federal Government has exempted 63 items from value-added tax (VAT). According to a post on X yesterday by the Chairman, Presidential Committee on fiscal policy and tax reforms, Taiwo Oyedele, the exempted items are contained in an official Gazette for the ‘Value-Added Tax (Modification) Order, 2024,’ dated September 3, 2024. Recall that on Wednesday, Minister of Finance and Coordinating Minister of the economy, Wale Edun, announced the introduction of concessions aimed at revitalising the oil and gas industry to ensure a boost in Nigeria’s upstream and downstream sectors. Edun…

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Nigeria-Germany Partnership: Tinubu witnesses signing of $500m renewable energy pact, gas export agreement

Aminu Imam

The burgeoning economic partnership between Nigeria and the Federal Republic of Germany witnessed further expansion and strengthening, as two important agreements were signed between Nigerian and German businesses yesterday. Speaking in Berlin, Germany, at the 10th German-Nigerian Business Forum, President Bola Tinubu said that with a resilient democracy, Nigeria is well primed to attract foreign direct investments. The President witnessed the signing of two Memoranda of Understanding (MoU): One on the supply of gas from Nigeria to Germany, and another for $500 million worth of renewable energy projects in Nigeria.…

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‘Why Nigeria must turn to gas as alternative energy source’ – Gov. Sule

Aminu Imam

Nasarawa State Governor, Abdullahi Sule has said the new global energy order propelled by gas resources would end high fuel costs and douse concerns by environmentalists over pollution. He spoke when he laid the foundation for the $2 million first Liquefied Natural Gas (LNG) and Liquefied Compressed Natural Gas (LCNG) facility in the North Central region in Lafia, the state capital. The project, with 23 metric tonnes of LNG, 1,500 (SCM LCNG) capacity, is to be established by Greenville LNG Limited. He said Greenville had taken the lead in fast-tracking…

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Cooking gas: Nigerians resorting to firewood for cooking, as prices soar

Aminu Imam

Prices of Liquefied Petroleum Gas, (LPG), otherwise known as cooking gas, across Nigeria continued on the upward trend despite a significant increase in the local production of the product.   Many Nigerians have said they would resort to firewood and charcoal if prices of cooking gas continue to soar. According to some who spoke to newsmen in separate interviews, said that they could no longer cope with the increase in the prices of cooking gas and called on the federal government to address the current hike in the price of cooking…

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Nigerians dump gas, as price skyrockets

Aminu Imam

…Turn to charcoal, firewood  The plan of the federal government to deepen domestic consumption of gas through the National Gas Expansion Programme, (NGEP), with a target of creating about three million jobs seems to be about to be shattered, even before take-off as many Nigerians are abandoning its use. Findings show that Liquefied Petroleum Gas, (LPG), otherwise known as cooking gas, is now beyond the reach of average Nigerians as many have turned to charcoal or firewood, with the attendant environmental and health implications.  A kilogramme of cooking gas is…

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“How Nigeria ‘accidentally’ discovered 206tr cubic feet gas reserve” – Sylva

Aminu Imam

…Says gas is Nigeria’s hope for economic development The Minister of State for Petroleum, Chief Timipre Sylva, has said the country accidentally discovered 206 trillion cubic feet of gas, (tcf), reserves while searching for crude oil. Sylva, who revealed this in Abuja at a Nigeria News Agency, (NAN) forum to highlight the achievements in the oil and gas sector since taking office, said the country could uncover an additional 600 tcf of reserve to enable it to achieve development. desired from a gas nation. “We were actually going to look for crude oil and…

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Market forces should determine gas prices – DPR

Abdul-Azeez Ahmed Kadir

The Department of Petroleum Resources (DPR) has advocated that market forces should be allowed to determine gas prices to guarantee the security of supply and demand of the commodity. Mr Sarki Auwalu, the Chief Executive Officer, DPR, disclosed this while presenting keynote address at the pre-summit conference on “Decade of gas’, in Abuja, on Monday. Auwalu said that the right and market-based pricing of gas was critical, as it would assure producers of returns on their investments. He also outlined five critical levers for gas development, especially as Nigeria moves…

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