News

Nigeria Imports 71% Of LPG Consumed In One Month, PPPRA Reveals

Published

5 years ago

October 5, 2020

Despite abundance of gas in Nigeria, 71.35 per cent of the Liquefied Petroleum Gas (LPG) also known as cooking gas, consumed in the country in the month of August, 2020, were imported, data obtained from the Petroleum Products Pricing Regulatory Agency (PPPRA) has revealed.
This was in sharp contrast to claims by the Federal Government that it was striving to promote increased utilization of Nigeria’s huge gas resources, put at about 203.16 trillion cubic feet, in a bid to cushion the effect of rising PMS prices, preserve the environment, improve power supply and also conserve Nigeria’s foreign exchange reserves.
According to the PPPRA report of LPG supplied in August, 2020, a total of 123,554.329 metric tonnes (MT) of LPG in vacuum (VAC) was supplied in Nigeria in the month under review, by six companies, out of which 88,157.108 MT (VAC) of LPG were imported, while 35,397.221 MT(VAC) were sourced locally.
The volume of cooking gas imported into the country in August, 2020, by four companies, represented a rise of 44.44 per cent, compared to 61,035.814 MT (VAC) imported in July, 2020, and also represented an increase of 7.71 per cent compared to 81,848.585 MT (VAC) imported in August, 2019.
On the other hand, the volume of LPG sourced locally for consumption was 52.84 per cent lower than the 75,062.834 MT (VAC) of LPG sourced locally in July, 2020.
However, the total number of cooking gas supplied in August, 2020, was 9.22 per cent lower than the 136,098.648 MT(VAC) of LPG imported in July, 2020 and 50.96 per cent higher than the 81,848.585 MT (VAC) supplied in August, 2019.
Specifically, in July, 2020, a total of 136,098.648 MT (VAC) of LPG was supplied, with 61,035.814 MT (VAC) of LPG imported, while 75,062.834 MT (VAC) was sourced locally; while in August, 2020, 100 per cent of the 81,848.585 MT(VAC) of LPG supplied were imported into the country.
Algasco LPG Services Limited, a subsidiary of Vitol, was the highest importer of the commodity into the country in August, 2020, with 43,888 MT (VAC) of LPG, representing 48.78 per cent of the total import and 35.52 per cent of total LPG supplied in the period under review.
Other importers of the commodity into the country are: Matrix Energy, 19,770 MT (VAC); Prudent Energy and Services Limited, 9,568 MT (VAC) of LPG; and NIPCO, 10,893 MT (VAC) of LPG.
On the other hand, of the 35,397.221 MT (VAC) of LPG sources locally in August, the Nigerian Liquefied Natural Gas (NLNG) supplied 3,634.401 MT (VAC); NIPCO supplied 9,383.680 MT (VAC); Algasco, 4,107.667 MT (VAC) and Stockgap Fuels Limited, 9,058.139 MT (VAC).
The products were discharged at Lister Jetty, Apapa; Matrix Jetty, Warri; Prudent Energy Jetty, Oghara; Bulk Oil Plant, Apapa; North Oil Jetty and Stockgap Jetty, Port Harcourt.
The fact that Nigeria continues to import cooking gas leaves much to be desired, especially when viewed against the huge gas resources in the country and the launch of the National Gas Expansion Programme (NGEP) which seeks to increase gas utilization in Nigeria, through the auto-gas scheme and LPG programme.
The import of cooking gas is reminiscent of development with PMS, where despite having abundance of crude oil, the country continues to import PMS, spending a huge portion of its foreign exchange on the importation and also spending huge amount of money to subsidise the product, among others.
Specifically, Minister of State for Petroleum Resources, Chief Timipre Sylva, had stated that the implementation of the NGEP would deepen gas usage in the country and would be executed alongside the Nigeria Gas Flare Commercialisation Programme (NGFCP), and the National Gas Transportation Network Code (NGTNC).
Also, Technical Adviser, Downstream to the Petroleum Minister, Dr Abner Ishaku, had stated that the promotion of gas as replacement fuel will also save the nation the much-needed foreign exchange expended on imported fuels.
He had noted that using gas as auto-gas would provide alternatives to Premium Motor Spirit, Automotive Gas Oil and Dual Purpose Kerosene for Nigerians.

News

EFCC Indicts Banks, Fintechs In N162bn Scams

Published

2 hours ago

January 23, 2026

The Tide

The Economic and Financial Crimes Commission (EFCC) has indicted a new generation bank, six Fintechs and some microfinance banks in major financial scams by allowing fraudsters to launder huge sums of money.

Director of public Affairs of the Commission, Mr Wilson Uwujaren, made this known at a press briefing at the commission’s headquarters in Abuja, yesterday.

According to him, the compromised institutions allegedly allowed cryptocurrency transactions worth N162 billion to pass through without proper due diligence within the 2024/2025 financial year.

He said that the financial institutions clearly compromised banking procedures and allowed the fraudsters to safely change their ill-gotten gains into digital assets and move them to safe destinations.

“A total sum of N18.1 billion was moved through the financial system without due diligence of customers by the banks.

“It is worrisome that investigations by the commission showed that cryptocurrency transactions to the tune of N162 billion passed through a new generation bank without any due diligence.

“Investigations showed that a single customer maintained 960 accounts in another new bank and all the accounts were used for fraudulent purposes.

“That is bad news but the good news is that following our intervention the commission has been able to recover N33.62 million, which has been returned to some of the victims.”

He explained that the scams were in two categories, adding that the first was a syndicate of fraudsters that employed an airline discount scheme to lure their victims.

He said that they advertised a discount system for the purchase of flight tickets of a particular foreign carrier.

“The payment module is designed in such a way that the victims’ payment is actually made into the account of the airline.

“After payment is made the passenger’s entire funds in his bank account are emptied.

“Investigations showed that more than 700 victims have been scammed so far, with a loss of N651 million,” he said.

According to him, investigations show that the scheme is being masterminded by a foreign national; the commission has so far recovered and released N33 million to victims of the fraud.

He said that another scheme involved a company named Fred and Farid Investment Limited, simply called FF investment, which lured Nigerians into a bogus investment arrangement.

“More than 200, 000 victims have been defrauded in this regard. A total sum of N18 billion was raked in through nine companies offering diverse investment packages.

“The companies are: Credio Banco Limited; Deliberty Rock Limited; Liam Chumeks Global Service; Ngwuoke Daniels Technology; and Icons Autos and Import Merchant.

“Others are : Newpace Technology Services Limited, Primepath Ways Ventures Limited, Kaka Synergy Network Limited and Sunlight Tech Hub Services Limited.”

He said that foreign nationals were behind the schemes, while there are three Nigerian accomplices who have been arrested and charged to court.

He said that the masterminds were on the run and efforts are being made to bring them to book.

“The Commission is calling on regulatory bodies to bring financial institutions to compulsory compliance with regulations in the areas of Know Your Customers (KYC), Customer Due Diligence (CDD), Suspicious Transaction Reports (STRs) and others.

“Deposit Money Banks, Fintechs, Micro Finance Banks found to be aiding and abetting fraudsters should be suspended and referred to the EFCC for thorough investigation and possible prosecution.

“Negligence and failure to monitor suspicious and structured transactions by banks should no longer be allowed,” he said.

While cautioning members of the public to be wary of these actors, he said that the EFCC would continue its works against money laundering by fraudulent actors.

Uwujaren urged financial institutions to firm up their operational dynamics and save the nation leakages and compromises bleeding the economy.

News

Group Advocates Indigenous Language Sustainability, Calls for Policy Action

Published

4 days ago

January 19, 2026

The Tide

A pan-Nigeria organisation committed to the promotion and preservation of indigenous languages, Indigenous Language and Culture Promoters (ILCP), has called for the deliberate development and compulsory teaching of indigenous languages in both primary and secondary schools across the country.

The group made the call during its maiden Congress held in Bori, Rivers State, which was convened to examine challenges hindering the official adoption and effective teaching of Ogoni languages in schools.

Speaking at the Congress, the Executive Director of the organisation, HRC Mene Magnus Edooh, Amb.P, emphasised the critical role of indigenous languages in preserving a people’s culture, values and history. He warned against the gradual extinction of native languages, noting that language loss equates to identity loss.

“Years ago, Latin was a language of global relevance, but today it is largely extinct. We do not want Ogoni languages to suffer a similar fate. As a people, we cannot afford to lose our identity through the death of our languages,” Edooh said.

He explained that the Indigenous Language and Culture Promoters was established to collaborate with language stakeholders to ensure that children and younger generations remain connected to their mother tongues. The organisation also appealed to governments at all levels, as well as relevant institutions and individuals, to take strategic actions aimed at promoting and sustaining Nigeria’s indigenous languages.

Also speaking, the newly appointed Director of Media and Information, Prince David N. Gbarato, questioned the rationale behind government reluctance to accord indigenous languages their rightful place in national development policies.

According to him, “People with well-developed languages are people with well-developed indigenous systems and affairs,” stressing that language development is fundamental to cultural and societal advancement.

The Congress further served as a platform for the ratification of key officers of the organisation and featured the participation of representatives from various indigenous language groups and other language stakeholders, all of whom echoed the call for renewed commitment towards safeguarding Nigeria’s linguistic heritage.

News

Rivers Boundary Commission Steps In to Resolve Okoloma–Ban-Ogoi Land Dispute

Published

4 days ago

January 19, 2026

The Tide

As part of deliberate efforts to promote peaceful coexistence and prevent communal conflict, the Rivers State Boundary Commission has intervened in the long-standing boundary dispute between Okoloma (Afam) Community in Oyigbo Local Government Area and Ban-Ogoi Community in Tai Local Government Area of the state.

The intervention followed a stakeholders’ meeting convened by the Commission at the Government House, Port Harcourt, on Friday, January 16, 2026. The meeting was aimed at setting up a technical committee that will work towards an amicable and lasting resolution of the land dispute between the two neighbouring communities.

Speaking at the meeting, the Deputy Governor of Rivers State and Chairman of the Rivers State Boundary Commission, Prof. Ngozi Nma Odu, stressed the importance of peace, dialogue and mutual understanding in resolving boundary-related disagreements. She urged all parties to approach the process with sincerity and restraint, noting that sustainable peace can only be achieved through constructive engagement.

Prof. Odu advised the communities to emulate the peaceful disposition and leadership style of Governor Siminalayi Fubara by presenting their grievances and petitions without bitterness or rancour, assuring them of the Commission’s commitment to fairness and justice.

She also expressed satisfaction with the presence of the Chairmen of Tai and Oyigbo Local Government Areas at the meeting, describing it as a clear demonstration of their resolve to maintain peace and harmony between the affected communities.

In their separate remarks, the Chairman of Oyigbo Local Government Area, Dr. Okechukwu Akara Nwaogu, and his Tai Local Government Area counterpart, Hon. Mbakpone Okpe, reaffirmed their commitment to ensuring peaceful coexistence among their people. They emphasized that peace is critical to attracting development and investment to the area.

Both council chairmen commended the Rivers State Boundary Commission for its proactive intervention, expressing optimism that the establishment of a technical committee would pave the way for a fair and enduring resolution of the dispute.