Business
Operators Warn On Substandard Cooking Gas, Cylinders In Circulation
Operators under the aegis of the Liquefied Petroleum Gas Retailers (LPGAR ) Branch of the National Union of Petroleum and Natural Gas workers (NUPENG), have raised alarm over the influx of substandard cylinders and Liquefied Petroleum Gas, popularly called cooking gas, with high propane content, in circulation.
A statement issued on Monday, said the immediate past Chairman, LPGAR NUPENG Branch, Chika Umudu, gave the warning while speaking at the 3rd Quadrennial Delegates Conference, with the theme, “Priortising Safety In LPG Retailing”.
He, however, called on the Nigerian Midstream, Downstream Petroleum Regulatory Authority (NMDPRA) and the Standards Organisation of Nigeria (SON) to arrest the increasing circulation of high propane LPG in the market, stressing that the commodity was very dangerous to operators and consumers.
He was quoted as saying, “Let us assume that the substandard cylinders being imported mainly from China is a temporary measure to fill the existing vacuum; what is the long-term plan to ensure that only standard cylinders are imported and these substandard cylinders withdrawn in no distant future?’’
“Again, why can’t we have these cylinders and accessories produced locally as was the case in the 1980s and 1990s? Why can’t these multinationals who are scrambling for retail spaces with retailers on the street be told that it is their duty to produce cylinders and other necessary LPG materials?
“It is important to note that the ‘China cylinders’ hardly withstand exposure to Nigerian weather conditions for one year. It is a time bomb as millions of low-income earners in particular are oblivious of the monsters they are living with”.
He said the hope of operators was raised when Techno Oil started producing cylinders in Nigeria, “but shortly it disappeared from circulation. Perhaps what happened to its predecessors in the 1990s has happened to it”.
Business
Agency Gives Insight Into Its Inspection, Monitoring Operations
Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
Business
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