Business

Domestic Gas Supply To GenCos Rises By 20.2% In Q1’21

Published

5 years ago

September 8, 2021

Domestic gas supply to gas fired generating plants (GenCos) across the country rose significantly by 0.51million standard cubic feet per day (mmscfd) to 2,505mmscfd in the first quarter (Q1) of 2021.
This is 20.2 per cent increase when compared to 2,000mmscfd recorded in the corresponding period of 2020, data contained in the Nigerian National Petroleum Corporation (NNPC), Financial and Operations Report for the month of April, 2021 has shown.
According to the report, a total of 795mmscfd was delivered to gas fired power plants to generate an average power of about 3,416MW of electricity in April, 2021.
It was gathered that this is a decline of 6.0 per cent when compared 844mmscfd supplied in March, 2021 to generate 3,530MW.
The generation sub-sector includes 23 grid-connected generating plants in operation with a total installed capacity of 10,396MW (available capacity of 6,056MW) with thermal-based generation having an installed capacity of 8,457.6MW (available capacity of 4,996MW), and hydropower having 1,938.4MW of total installed capacity with an available capacity of 1,060MW.
However, the report also indicated that a total of 2,355mmscfd of gas was sent to the generating plants in the fourth quarter of 2020, an increase of six per cent when compared to Q1’2021.
A breakdown of gas distribution figures showed that a total of 209.27Billion Cubic Feet (BCF) of natural gas was produced in the month April, 2021, translating to an average daily production of 6,975.72mmscfd.
For the period April, 2020 to April, 2021, a total of 2,902.52 BCF of gas was produced representing an average daily production of 7,369.76mmscfd during the period.
Period-to-date Production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 62.07 per cent, 19.95 per cent and 17.98 per cent, respectively, to the total national gas production.
According to the NNPC report, out of the 206.40BCF of gas supplied in April, 2021, a total of 126.83BCF of gas was commercialized; consisting of 42.92BCF and 83.91BCF for the domestic and export market, respectively.
This translates to a total supply of 1,430.90mmscfd of gas to the domestic market and 2,976.94mmscfd of gas supplied to the export market for the month.
This implies that 61.45 per cent of the average daily gas produced was commercialized while the balance of 38.55 per cent was re-injected, used as upstream fuel gas or flared.
Gas flare rate was 9.74 per cent for the month under review.
Total gas supply for the period April, 2020 to April, 2021 stood at 3,081.77 BCF out of which 548.34 BCF and 1,398.78 BCF were commercialized for the domestic and export market respectively.
Gas re–injected, fuel gas and gas flared stood at 1,134.64 BCF.
“Out of the 1,430.90mmscfd of gas supplied to the domestic market in April, 2021, about 794.79mmscfd of gas representing 54.54 per cent was supplied to gas-fired power plants while the balance of 636.11mmscfd or 44.46 per cent was supplied to other industries”.
Similarly, for the period of April, 2020 to April, 2021 an average of 1,313.32mmscfd of gas was supplied to the domestic market comprising an average of 778.76mmscfd or (59.30%) as gas supply to the power plants and 534.55mmscfd or (40.70%) as gas supply to industries.
The Federal Government has stated that plans are underway to reduce the price of gas for power generation companies in the country.
This, according to the Minister for Industry, Trade and Investments, Otunba Adeniyi Adebayo, was geared towards boosting the manufacturing sector competitiveness which has been hampered by power electricity supply.
Speaking at a roundtable discussion on the industrialisation of Africa organised by the Manufacturers’ Association of Nigeria (MAN), Adebayo, noted that Africa contributes less than two per cent to international trade, pushing it to the bottom of the global value chain.
He said this led to lower export trade volumes, lost job opportunities and reduced foreign exchange for players in the continent’s real sector.
According to him, all stakeholders need to work together towards developing measures to improve the cost competitiveness of the manufacturing sector in order for Nigerian industries to lead the transformation of the country and Africa’s economy.
Adebayo said, “For example, we are collaborating with the Ministry of Petroleum Resources to lower the cost of gas which is critical to the production of the energy sector. This is one factor that can improve the cost competitiveness of the sector.
“Another way that Nigerian industries can position themselves for the African economic transformation is by aligning themselves with the country’s industrialisation programme.”
Despite the rise in domestic gas supply, Nigerians have continued to lament over the epileptic power supply across the country.
The former President, Manufacturers Association of Nigeria (MAN), Mr Frank Jacobs, stated, “It is possible to gauge the loss suffered by manufacturers arising from paucity of electricity supply and high cost of alternative energy source. Capacity utilization in the sector has barely been above 50 per cent.
“This implies that the production has been sub-optimal; production value in the sector was estimated at N8.38trillion in 2016. Another way of measuring the loss to manufacturers as a result of the challenges of electricity supply is by looking at the huge cost of alternative energy which was estimated at N129.95billion as at 2016.
“Even though the sector, especially the distribution aspect has been privatised, it is important that government should find ways and means of supporting the DisCos until a stable, quality and reasonably priced electricity is available to the manufacturing sector.
“There is need for government to continue to offer integrated support to all stakeholders on the NESI value-chain i.e. manufacturers, GenCos, TCN, and DisCos in terms of finance and expertise.”
A trader in Olodi-Apapa, Kazeem Onoja, said power supply was good when he moved to the area about eight years ago.
According to him, “Then, public power supply from PHCN was quite okay, we were having between 14 and 20 hours of power supply on most days. We knew their schedule – the days we are meant to have supply and the days we would not have except a major fault occurred.
“Power supply has steadily deteriorated as the area developed and more people come into the neighbourhood”.
On her part, Executive Secretary, the Association of Power Generation Companies (APGC), Joy Ogayi, said, “To bridge the gap between demand and supply of power, there is need for all parts of the power chain to be fully effective to bring about the installed capacity of 13,200MW to hungry consumers.
“However, this is not the case in the power sector in Nigeria.”

Business

Nigeria’s Inflation Drops to 15.06%

Published

2 days ago

March 23, 2026

The Tide

Three States Record Lowest rates Published 16 Mar 2026 By Dave Ibemere 3 min read The NBS has revealed that inflation rates dropped again in February 2026 The bureau noted that both headline and food inflation eased on a year-on-year basis Inflation was lowest in Katsina, Imo, and Ebonyi, while the highest was recorded in Kogi.

Nigerian economy, the stock market, and broader market trends. The National Bureau of Statistics (NBS) has revealed that Nigeria’s inflation rate slowed further in February 2026. According to the bureau in its latest CPI report, the headline inflation dropped slightly to 15.06% from 15.10% in January 2026. Nigeria’s inflation eases to 15%, offering relief to households. It was 11.21 percentage points lower than the 26.27% recorded in February 2025. From breaking news to viral moments. On a month-on-month basis, inflation stood at 2.01% in February, up from -2.88% in January, showing that prices rose at a faster pace than the previous month. Nigerian stock market records weekly gain as turnover hits N164.8billion Urban vs Rural Inflation NBS noted that urban inflation stood at 15.53% year-on-year, down from 28.49% in February 2025, while rural inflation was 13.93%, compared with 22.73% in the same period last year. Every month, urban inflation rose to 2.55% in February from 2.72% in January, while rural inflation eased to 0.71% from -3.29%. Food Inflation Food inflation dropped to 12.12% year-on-year in February, down sharply from 26.98% in February 2025. Monthly, food prices rose by 4.69%, higher than the -6.02% recorded in January. The NBS attributed the moderation to slower price increases in staples such as beans, cassava tuber, yam flour, crayfish, millet flour, cowpeas, and okazi leaf. The twelve-month average for food inflation was 19.08%, compared with 37.40% in February 2025. States breakdown for All Items The states with the highest all-items inflation rates were: Kogi (23.57%) Benue (22.85%) Anambra (22.09%) The lowest rates were recorded in: READ ALSO Naira appreciates by N27 against US dollar as external reserves cross $50bn Katsina (7.78%) Imo (11.66%) Ebonyi (11.71%) On a month-on-month basis, the highest increases were in Enugu (5.92%), Ogun (4.39%), and Anambra (4.11%), while declines were seen in Zamfara (-2.14%), Bauchi (-1.23%), and Katsina (-1.06%). Food staples contribute less to inflation as prices moderate in February. Photo: Bloomberg Source: Getty Images State Breakdown for Food Inflation Food inflation was highest in: Kogi (26.91%) Adamawa (23.12%) Benue (21.89%) The lowest food inflation rates were seen in: Katsina (5.09%) Bauchi (7.09%) Imo (7.65%) Month-on-Month Food Inflation The states with the highest month-on-month increases in food inflation were: Bayelsa (8.81%) Ebonyi (8.51%) Edo (7.72%) The states that recorded declines were: Katsina (-0.70%) Nasarawa (0.17%) Kano (1.39%) Food price changes across markets in Nigeria Earlier, The Tide source reported that due to Ramadan, staple food prices across the country are recording sharp increases as Muslims begin the Ramadan fasting season Ramadan is not only a period of abstinence from food and drink, but also a time for ‘reflection, discipline and heightened devotion’ Several traders in Abuja, Taraba, and Kaduna states are taking advantage and have hiked price. The NBS has revealed that inflation rates dropped again in February 2026 The bureau noted that both headline and food inflation eased on a year-on-year basis Inflation was lowest in Katsina, Imo, and Ebonyi, while the highest was recorded in Kogi.

Business

NDCCTMA, NDDC MDS Challenge Niger Delta Indigenes On Investment In The Region

Published

2 days ago

March 23, 2026

The Tide

The Nigeria Delta Chamber of Commerce, Trade, Mines and Agriculture (NDCCTMA), and the Niger Delta Development Commission ( NDDC ) have challenged Niger Delta entrepreneurs to close the gap in Gross Domestic Products (GDP) differences between the region and that of the South Western part of the country by coming home to invest.

The bodies made the call at a Business Round Table organized by NDDCTMA, in Port Harcourt.

Chairman of NDDCTMA, Ambassador Idaere Gogo Ogan, said to close the gap between the south west region which he said has a GDP seize of about #59 trillion and that of the Niger Delta which is about #34 trillion was to massively invest in the region.

He said no other persons can do this except sons and daughters from the region.

“For me I believe in statistics,I believe in data and everyday I looked at the data concerning development in Nigeria and from the GDP point of view, the South West has #59 trillion, that is the seize of the south west region economy, the second region following them is the Niger Delta region with GDP seize of #34 trillion,so there is a yearning gap of #25 trillion that separates the south west and the Niger Delta region, that is why we are here.”

Ogan said the region has the capacity to close the gap and even surpassed it but regretted that indigenes of the region have chosen to ignore it in terms of investment.

“We need to close that gap .If we close that gap and even surpassed it,all the negative problems of militancy and unemployment will automatically erase”, he stated.

Ogan noted that the event was organized to remind the people that past efforts of militancy and agitations have not led the region to any where saying “that is why we are gathered here in this room”.

Also speaking, the Managing Director/Chief Executive Officer, NDDC, Dr Samuel Ogbuku urged indigenes of the region not to use the problem of insecurity as an excuse to continue to deny the region of investment as every part of the country have in one time or the other experienced crisis.

Ogbuku said most indigenes have displayed high level of unpatriotism towards the region by taking investments that would have benefited the people to either Lagos or Abuja.

“With little threat we have left the city, we have gone to Lagos,we have moved our families to Abuja and Lagos. If you go round GRA all the property, you will see,”to let to let”most of them are now empty “he said.

The NDDC MD said despite the fact that people from the region are doing well in the oil and gas, banking and other sectors, its impact are not being felt at home because they are stationed outside the region.

By; John Bibor

Business

Cash Handouts Unproductive For Sustainable Agricultural Development – Engineer Kii

Published

3 days ago

March 23, 2026

The Tide

Rivers State by its natural disposition is gifted with strategic economic advantage, particularly in agricultural potentials and fortunes. This informs successive governments’ interest in developing the agricultural sector, such as the School to Land Program, the Shongai Project, among several others.

The objective is to engender and leverage the sector beyond mere subsistence practices into a full thriving economy, with the engagement and involvement of the youthful and productive population.

The Farm to Future Agro Based Training for Rivers youths by the present administration is notably one of the most pragmatic efforts of the Rivers State Government to engage the prospective creative capital of both the natural and human resources in the agricultural sector for sustainable development.

The concept, premised on the imperative of maximizing the huge agrarian prowess of the state, targets creation of sustainable livelihood for the teeming youth of the state. The project is also intended to achieve the chore needs of food sufficiency and job creation in the state.

This implies a significant deviation from the acculturised norm of expectations of financial benefits as the outcome of government programs and policies.

The tenets of the program are expressly difined in concept and practice as shown in the phases of its execution.

However, some beneficiaries of the project recently staged a protest, allegdging unpaid largesse, diversion of funds and perceived slighting by the Rivers State Ministry of agriculture. The said protest has stirred up concerns among stakeholders about how people view government policies.

Many see the protest as an attempt to create tension around the program and sabotage its original objectives.

Stakeholders and commentators are of the view that the Rivers State is in dire need of development in every critical sector, as such the Ministry of Agriculture and its partners should be given the benefit of the doubt to implement the project to its logical conclusion without being hauled with accusations.

The former Commissioner for Agriculture, Engineer Victor Kii who was at the fore of driving the program has in a press statement debunked the allegations and sued for calm, restraint and understanding. Engineer Kii assured the participants that the empowerment phase will be implemented as soon as administrative normalcy is restored.

He commended the participants for their commitment and discipline during the training and urged them to uphold the norms of the program rather than misrepresenting its intentions.

Some pundits who commented on the recent development decried the fact that many people still hold on to the notion that incentives billed to create sustainable impact through skills based programs, should be given out as largess, without adroit supervision of its utility function. This practice has however created a culture of economic doldrum, dependency and servitude in the past.

Thus the idea of seen the Rivers Farm to Future project as a mere quixotic experiment for cash benefits without achieving set goals is counter productive. Such opportunistic thinking have stunted government efforts over the years in achieving long term objectives of development.

As disclosed by the former commissioner for Agriculture in his detailed explanation, the Farm to Future project was strategically designed to address this culpable deficit in institutional planning and consolidation of results.

The former commissioner gave an explicit description of the nexus of operation of the program.

As revealed by him; ” The program is a strategic intervention to equip young people in Rivers with practical skills and to nurture a new generation of agricultural entrepreneurs. 500 beneficiaries received intensive agri business training in the first phase.”

He pointed out that the program was conceived and designed in line with global best practices which de emphasizes indiscriminate cash handouts for beneficiaries. Rather it promotes practical engagements in agricultural activities and business initiatives.

At the end of the training in February, beneficiaries were encouraged either individually or in cooperative clusters to identify value chain for establishment of viable businesses.

They were also asked to produce structured business proposals for perusal and review by the ministry of agriculture and appointed consultants, after which successful proposals would be forwarded to the Bank of Agriculture with Rivers State Government providing guarantees.

The strategies for implementation include field inspections and evaluation for beneficiaries who had already commenced practical activities in identified locations.

The approach was to discourage the commonplace ideology of diverting funds meant for specific projects for unrelated purposes, thereby undermining the conscious exploration of creative potentials into long term benefits.

The process was however temporary interrupted by the dissolution of the Rivers State Executive Council and the ongoing renovation of the Rivers State Secretariat complex but the profound optimism and positive expectations that are the hallmark of the project remains sacrosanct.

Engineer Kii assures.

By: Beemene Taneh