Business
NNPC’s Forcados Pipeline Resumes Operations
Nigerians will experi
ence relief in power supply as the Trans-Forcados oil pipeline which transports crude oil to an export terminal and gas to power stations resumed operations after one week of closure.
The closure of the pipeline a week ago, due to sabotage, had led to a drop in power generation by 1,500 megawatts as almost half of the country’s gas production was affected.
Though the pipeline is a crude oil facility, gas fields that supply gas to power stations had to be shut down because the liquid condensate they produce together with gas is normally evacuated through the pipeline.
The pipeline which belongs to the Nigerian Petroleum Development Company, (NPDC), transports for cados grade of crude oil to the forca dos export terminal which is scheduled to export about 260,000 barrels per day this month and 21,000 barrels per day in February.
A statement from the NNPC in Port Harcourt which was obtained by our correspondent quotes the Group’s Executive Director in charge of Gas and Power, Dr David Ige as saying that the pipeline has resumed operations.
“Forcados is a major artery, when this pipeline is out we lose gas production, it accounts for 40-50 per cent of gas production in the country”, he said.
Ige further explained in the statement that each time the pipeline goes down, two power plants also lose input and electricity supplies for the east of the country are affected.
According to him, the country produces around eight billion cubic feet of gas per day of which 1.9 per cent per day is allocated for domestic consumption.
SEPLA Petroleum Development Company which is listed in both London and Nigeria, Pan Ocean Corporation and the NPDC transport their crude oil through the pipeline.
Apart from the over 30,000 barrels per day lost by Seplat and NPDC in OMLs 4,38 and 41, NPDC also lost production at OMLs 26 and 42 which it operates.
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FG Fixes Uniform Prices for Housing Units Nationwide, Approves N12.5m For 3-bedroom Bungalow ……..Says Move To Enhance Affordability, Ensures Fairness
“The approved selling prices are as follows: One-bedroom semi-detached bungalow, N8.5 million; two-bedroom semi-detached bungalow: N11.5 million and three-bedroom semi-detached bungalow, N12.5 million,” the statement added.
Minister of Housing and Urban Development, Ahmed Dangiwa, stated that priority in the allocation of the housing units would be given to low and middle-income earners, civil servants at all levels of government, employees in the organised private sector with verifiable sources of income, and Nigerians in the Diaspora who wish to own homes in the country.
The Permanent Secretary in the ministry, Dr. Shuaib Belgore, explained that several payment options have been provided to make the houses affordable and flexible. These include outright (full) payment, mortgage, rent-to-own scheme, and installment payment plans.
The ministry further announced that the sale of the completed housing units across the northern and southern regions will soon commence.
“Applications can be made through the Renewed Hope Housing online portal at www.renewedhopehomes.fmhud.
The ministry, however, clarified that the approved prices apply strictly to the Renewed Hope Housing Estates which are funded through the ministry’s budgetary allocation, as against the Renewed Hope Cities in Karsana Abuja, Janguza Kano, Ibeju Lekki, Lagos which are being funded through a Public Private Partnership (PPP).
