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Nigeria Records $434m Oil, Gas Sales In Jan – NNPC

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The Nigerian National Petroleum Corporation (NNPC) says the country recorded crude oil and gas export sales of 434.85million dollars in January.
The corporation disclosed this in it’s Monthly Financial and Operations Report released in Abuja, yesterday.
The sales, the NNPC said, represents an increase of 94.30 per cent pitched against the December 2019 figures.
It said that the month’s crude oil export sales contributed 336.65million dollars (77.42 per cent) of the dollar transactions for the period, compared to the 136.36million dollars sales in the previous month.
It added that export gas sales in January amounted to 98.20 million dollars even as it noted that 2019 to January 2020 crude oil and gas transactions valued at 5.18billion dollars were exported. The report added that the vandalism of NNPC pipelines across the country recorded a phenomenal spike of 50 per cent increase in January.
“60 pipeline points were vandalized, compared to the 40 incidents recorded in December 2019.
“Atlas Cove-Mosimi and Mosimi-Ibadan axis pipelines accounted for 50 per cent and 17 per cent of the breaks respectively, while all other routes accounted for the remaining 33 per cent,” it said.
The report stated that to ensure steady supply and effective distribution of Premium Motor Spirit, otherwise called petrol, across the Country, 1.20billion litres of the white product, translating to 38.68mn liters/day, were supplied for the month.
It noted that the corporation had continued to diligently monitor the daily stock of fuel to achieve a smooth distribution of petroleum products and zero fuel queue across the nation.
In the gas sector, NNPC revealed that out of the 253.09billion cubic feet (BCF) of gas supplied in January, a total of 151.16BCF of gas was commercialised, consisting of 36.20BCF and 114.96BCF for the domestic and export market, respectively.
This, it said, translated to 1,167.80million standard cubic Feet (mmscfd) of gas supply to the domestic market, with 3,708.23mmscfd of gas supplied to the export market during the month.
The report further stated that 59.89 per cent of the average daily gas produced was commercialised, while the balance of 40.11 per cent was re-injected, used as Upstream fuel gas or flared. Gas flare rate was 7.90 per cent for the month under review.
According to the report, it is 643.59mmscfd, compared with an average gas-flare rate of 8.46 per cent i.e. 671.40mmscfd, for the period January 2019 to January 2020.
“Out of the 1,167.80mmscfd of gas supplied to the domestic market in January 2020, about 639.70mmscfd of gas, representing 54.78 per cent, was supplied to gas-fired power plants.
“The balance of 528.10mmscfd or 45.22 per cent was supplied to other industries,” it said.

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Association Woos Govt, Coys On  Boat Operators  Employments

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2 days ago

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June 12, 2026

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The leadership of Bonny Maritime Boat Association has called on Rivers state Government and oil companies operating in the state to provide sustainable employment to unemployed boat Operators.
The Association also want the government, companies and other relevant employers of labour to provide trainings for boat Operators to enhance their skills
Safety Officer of the Association, Comrade Kingdom Kingsley made this known in  a  telephone interview with  The Tide.
He noted that most of the boat Operators and owners plying Bonny route lacks jobs due to the fleets of boats introduced by Bonny Road Transport that had taken over the passengers to the Island
He noted that passengers are no longer patronizing boats owned by the Association, thereby rendering the operators redundant
“Most of our operators can not afford to feed their families due to no jobs, we don’t want to indulge in crime, government should fix our members with  sustainable jobs to take care of their immediate needs”
He called on oil companies operating in the state to engage their skilled boat Operators in their companies to reduce the sufferings faced by the Association.
The Safety Officer called on the state government  to made funds available to unemployed youths in the state to start up business than roam the streets.
He noted that provision of funds to youths would reduce crime rates and reposition their mindsets for a better life
“The  youths of Rivers state are suffering, have no job to feed their families, thereby indulging in criminality daily”
“The youths need empowerment,  jobs,  recreational facilities and better things of life as citizens of this Nation”, Kingsley said.
CHINEDU WOSU
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FG Approves $1 Bn AFCFTA Credit Facility For Nigerian Exporters

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June 12, 2026

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The Federal Government has approved a whooping $1bn credit facility to support Nigerian exporters and small scale businesses to take advantage of the African Continental Free Trade Area (AfCFTA) in order to boost production, competitiveness and intra-African trade.
The $1bn AfCFTA Adjustment Fund Credit Facility is also expected to address some of the financing gap being faced by Nigerian exporters and enhance the competitiveness of African businesses within the continental market.
The Minister of Industry, Trade and Investment, Jumoke Oduwole, disclosed this  during the second quarter 2026 meeting of the AfCFTA Central Coordination Committee held in Abuja.
According to a statement issued by the ministry’s Head of Press and Public Relations, Obilor-Duru Okechi, Oduwole said the financing facility represented a major opportunity for Nigerian businesses seeking to expand operations, modernise production processes and increase exports to African markets.
The statement partly read, “?The Federal Government has reaffirmed its commitment to accelerating Nigeria’s export-led growth agenda under the African Continental Free Trade Area, unveiling opportunities for businesses to access a US$1 billion AfCFTA Adjustment Fund Credit Facility aimed at boosting production, competitiveness, and intra-African trade.”
She noted that despite the progress Nigeria had made in implementing the continental trade agreement, many local businesses continued to face obstacles that limited their ability to take advantage of the single African market.
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“Many businesses still face challenges relating to export documentation, certification, standards compliance and market access,” the minister said.
She explained that the Federal Government was addressing these bottlenecks through enhanced trade facilitation measures, simplified AfCFTA guidance tools, stakeholder engagement programmes and stronger collaboration with institutions such as the Nigeria Customs Service and the Nigerian Export Promotion Council.
Oduwole stressed the need to strengthen Nigeria’s legal and regulatory framework by domesticating key AfCFTA protocols, particularly the Digital Trade Protocol, to position the country as a major player in Africa’s growing digital economy.
The minister also highlighted some of the gains recorded in Nigeria’s AfCFTA implementation efforts.
According to her, the expansion of Nigeria’s Air Cargo Corridor Initiative to Rwanda, increased collaboration with development partners and private sector players, as well as sustained engagement with state governments, were helping to deepen awareness and participation in the continental market.
In her welcome address and first-quarter update, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Mrs Patience Okala, provided details of the financing initiative.
Okala said the $1bn AfCFTA Adjustment Fund Credit Facility was targeted at large African businesses with a minimum financing capacity of $10m.
She revealed that the National AfCFTA Coordination Office was working closely with fund managers to facilitate access for eligible Nigerian companies and had begun assembling a pilot group of businesses to ensure that Nigeria maximised the opportunities provided by the facility.
Nkpemenyie Mcdominic, Lagos
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NIWA Harps On  Avoidance Of Leaking Boats

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2 days ago

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June 12, 2026

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The National Inland Waterways Authority (NIWA) has advised Nigerians against boarding boats that require constant bailing of water in the interest of their safety.
 NIWA Area Manager for Cross River and Ebonyi, Mr Stanley Onuoha gave this warning in an interview with Newsmen in Calabar.
Onuoha who spoke on waterway
safety, said that passengers should take responsibility for their safety by inspecting boats before embarking on any journey.
According to him, repeated scooping of water from a boat is a clear indication that the vessel may be leaking.
“If you are entering a boat and see people using a bailer to remove water, it is the first signal that the boat is leaking,” he said.
He urged passengers to check the integrity of boats, including seating arrangements and other visible safety features.
The Manager restated the importance of using safety jackets, saying that damaged jackets may fail during emergencies.
He further said that passengers should ensure that safety jackets were appropriate for their body sizes in order to guarantee effective flotation.
 Onuoha reiterated the need for passengers to fill manifests before departure to aid accountability during emergencies.
The NIWA official further advised travellers to monitor weather conditions and avoid boarding boats when the weather is unfavourable.
According to him, poor weather conditions can trigger strong tidal waves capable of affecting small boats commonly used on inland waterways.
He said that waterway journeys should be embarked upon between 6.00a.m and 6.00p.m for clearer visibility.
Onuoha said  the Authority had continued to sensitise riverine communities to the need for safety precautions during waterway journeys.
He stated that sustained awareness campaigns and enforcement measures had contributed to safety waterway safety in Cross River.
CHINEDU WOSU
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