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Nigeria’s $5bn Annual Gas Earnings Unimpressive, FG Declares

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The Federal Government, yesterday, declared that it was not impressed by the $5 billion earned by Nigeria annually from Natural Gas, given the huge potential in the sector.
Nigeria’s Vice President, Senator Kassim Shettima, who disclosed this at the 6th Valuechain Energy Magazine Annual Lecture & Awards in Abuja, pointed out that Nigeria’s was a mere 40 percent of what Egypt earns from gas despite the fact that Egypt gas reserves is about 30 percent of Nigeria’s.
Shettima, who was represented by the Special Adviser to the President on Energy and Power Infrastructure, Office of the Vice President, Mr. Sodiq Wanka, said a lot of investments are needed to grow the gas sector to its full potential.
He warned that if these investments were not made, the gas supply gap in the country could grow to as much as 10 billion scuff feet per day by 2030.
The Vice President noted that “the story of Nigeria’s gas riches and potential cannot be complete without understanding that we are far off from that potential and have a lot of work to do, as public sector leaders and as captains of industry.
“Today, Nigeria earns around $5bn from gas production, a figure that is 40% less than in Egypt, which has around 30% of Nigeria’s reserves. Our production to reserve ratio is less than a 3rd of Egypt’s, less than a quarter of Algeria’s and around 10% of Malaysia’s.
“In the aftermath of the Russia-Ukraine war, the EU and many other nations were shopping for LNG at the same time that Nigeria’s largest LNG assets were operating significantly below capacity because the gas supply was inadequate”.
While expressing government’s determination to ensure that the necessary gas infrastructures were put in place, he added that “one only needs to look at the number of power plants and factories that have built up around the Escravos-Lagos-Pipeline System and its various spurs”, to appreciate the urgency required.
Earlier, the Publisher/CEO Valuechain Media Group, Mr. Musa Bashir Usman called for collaboration amongst industry players and the government to move the sector forward.
He explained that the 6th lecture with the theme: Midstream Gas Development: A Pathway to Energy Transition, seeks to highlight “the critical importance of developing the midstream gas sector as an integral part of our energy transition journey.
“To achieve our energy goals as a nation, we must consciously invest in infrastructure that facilitates the smooth transition of gas production from the upstream value chain to the downstream end.”
In his remarks, the Emir of of Kano, Alhaji Aminu Ado Bayero commended the Federal Government, the NNPC Limited and others involved in the Ajaokuta-Kaduna-Kano gas pipeline project, pointing out that the project which runs through communities, states and cultures would harness economic linkages along the corridor.

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Victory Over Insurgency Certain, Tinubu Assures

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President Bola Tinubu has expressed confidence that the country would win the fight against insecurity.

The President gave the assurance at the Argungu International Fishing Festival in Argungu town, Kebbi State, on Saturday.

He noted that the relative peace currently being enjoyed in Kebbi and neighbouring states was the result of sustained investments in security intelligence, coordination among security agencies, and community engagement.

Tinubu assured farmers and fishermen of sustained federal support to guarantee food security and safety across the country.

“The peace we are witnessing today is not accidental. It is the outcome of deliberate and sustained efforts. I assure you that the fight against banditry, insurgency, and insecurity will be won.

“Our farmers, fishermen, traders, and families will go about their lawful activities without fear,” he assured.

The President commended the organisers of the festival for sustaining the cultural event for decades, noting that it had endured for 83 years despite social and security challenges.

Describing the Argungu festival as a powerful symbol of unity, resilience, and peaceful coexistence, Tinubu stated that it reflects the richness of the country’s culture and the opportunities to harness its natural and human resources for national growth.

He said, “Today, this festival stands as a powerful symbol of unity, resilience, and peaceful coexistence among our people.

“It reflects the richness of our culture, the strength of our traditions, and the opportunities inherent in harnessing our natural and human resources for national development.”

The President was received by a large crowd of residents, traditional rulers, fishermen, tourists, and government officials from across the country.

The President reaffirmed his administration’s commitment to youth and women empowerment, irrigation development, rural electrification, and agricultural productivity.

Earlier, the Kebbi State Governor, Nasir Idris, said his administration was determined to elevate the Argungu Fishing Festival to full international standards while pursuing aggressive development across critical sectors of the state.

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US Embassy, Lagos Consulate Close Today For President’s Day

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The United States Embassy in Abuja and the Consulate General in Lagos will be closed today, in observance of Presidents’ Day.

The mission made this known in a notice shared on its official X page, yesterday.

“The U.S. Embassy in Abuja and the Consulate General in Lagos will be closed on Monday, February 16, 2026, in observance of Presidents’ Day,” the post read.

According to the embassy, Presidents’ Day was originally established to honour the birthday of the former US President, George Washington, but has evolved into a day to celebrate all U.S. presidents and their leadership in shaping the country’s history.

The embassy noted that the holiday also recognises the influence of U.S. presidents on global affairs.

In a related message, the mission highlighted that Washington created the first “Badge of Military Merit,” which later became the Purple Heart. The medal still bears Washington’s image today.

Presidents’ Day is observed on the third Monday of February annually in the United States as a federal holiday.

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Guterres Backs Nigeria’s Bid For UN Security Council Seat …Hails Tinubu’s Reforms, Regional Security Role

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United Nations Secretary-General, António Guterres, has charged Nigeria with spearheading Africa’s quest for a restructured global order, describing the country as uniquely positioned to lead the continent toward superpower status.

Guterres, who backed Nigeria’s bid for the world body’s security council seat, also praised the economic reforms of the President Bola Tinubu-led administration as well as Nigeria’s leadership in stabilising the Sahel and ECOWAS regions, despite facing its own security challenges.

The UN scribe made the remarks last Friday night during a high-level bilateral meeting with Vice President Kashim Shettima on the sidelines of the 39th African Union (AU) Summit in Addis Ababa, Ethiopia.

Speaking during the meeting, Guterres said Nigeria’s large population, sustained democratic governance, vast natural and human resources, and longstanding commitment to multilateralism placed it in a unique position to lead Africa in the evolving global order.

“Given Nigeria’s demographic strength, democratic continuity and deep resource base, the country stands a real chance of leading Africa to becoming the next superpower in the evolving global architecture,” he said.

The UN Secretary-General and the vice president discussed key developments in Nigeria and the country’s expanding leadership role in promoting regional stability across West Africa and the Sahel.

Guterres commended the remarkable and outstanding reforms of the administration of President Tinubu, noting that Nigeria’s bold economic restructuring and security commitments have strengthened its continental standing.

The meeting focused on strengthening Nigeria–UN collaboration to advance global economic growth, peace and security, sustainable development, and a coordinated humanitarian response across Africa.

In his remarks, Shettima thanked the UN Secretary-General for his leadership in advancing global peace, noting that Africa has benefited immensely from his tenure, even as the United Nations undergoes internal restructuring.

“We remain committed to multilateralism and to deepening our partnerships with the United Nations and other global institutions,” the vice president said.

Shettima also reiterated Nigeria’s longstanding call for comprehensive reform of the United Nations system to reflect evolving global realities.

He emphasised that Africa must have stronger representation in global decision-making structures and declared that Nigeria deserves a permanent seat on the United Nations Security Council.

Both leaders pledged to deepen cooperation, with Guterres reaffirming the UN’s support for Nigeria’s reform agenda and its growing leadership role in advancing peace, security, and development across Africa.

 

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