Friday, April 19, 2024
More

    Latest Posts

    FG opposes Kanu’s request for house arrest

    The Federal High Court in Abuja, on Wednesday, fixed May 20 to decide on separate applications praying for the restoration of the bail granted...

    Seyi Vibez was the most streamed artist in Nigeria from Jan – March 2024

    In the Q1 2024 report recently released by TurnTable Charts, Seyi Vibez accumulated more streaming numbers than any other artist in Nigeria. In the opening...

    I didn’t delete anything – Ruger defends tweet after accusations of promoting rape culture

    Musician Ruger is not having the backlash following controversial post he made on X (formerly Twitter). Celebrities Money na water - Cubana Chief Priest on...

    Cardoso links depleting external reserves to debt repayments

    The Central Bank of Nigeria has clarified reasons for the significant decline in the nation’s foreign exchange reserves, asserting that it wasn’t primarily aimed...

    Cooking gas: Marketers lack facilities, says NLNG, price hits N7,000

    The management of the Nigeria LNG Limited has said that marketers do not have enough infrastructure to take up its Liquefied Petroleum Gas supply.

    In an earlier PUNCH report, the Independent Petroleum Marketers Association had said that the major cause of the rising cost of cooking gas was lack of adequate supply.

    The marketers claimed that foreign investors underestimated demand in the Nigerian market resulting in marketers venturing into importation of the product.

    They advocated that the government should let NLNG supply more gas to the market to reduce the costs.

    Reports from consumers revealed that the cost of refilling a 12.5-kilogramme cylinder of LPG had risen to as high as N7000 in some states.

    The marketers had also urged the government to remove cooking gas from the list of commodities subject to the payment of value added tax.

    The marketing manager of NLNG, Austin Ogbogbo, in a response to the claim made by the IPMAN said that the marketers did not have enough infrastructure to take up the gas the company supplied.

    He said, “NLNG has grown its capacity from 50,000 metric tonnes per annum to 450,000 metric tonnes per annum of LPG in the past 14 years.

    “Nigeria needs 1.2 million metric tonnes per annum, but even the 450,000 we produce cannot be absorbed by the market’s current infrastructure.

    “We only operate in the midstream sub sector of the industry so we are only responsible for supplying to the market.

    “The downstream players are responsible for the distribution to the end users, and also building the infrastructure to ensure it is done efficiently. It is out of our scope.”

    He assured the public that the company would grow its LPG capacity if it confirmed that distributors could take up additional supply.

    Copyright PUNCH

    Latest Posts

    FG opposes Kanu’s request for house arrest

    The Federal High Court in Abuja, on Wednesday, fixed May 20 to decide on separate applications praying for the restoration of the bail granted...

    Seyi Vibez was the most streamed artist in Nigeria from Jan – March 2024

    In the Q1 2024 report recently released by TurnTable Charts, Seyi Vibez accumulated more streaming numbers than any other artist in Nigeria. In the opening...

    I didn’t delete anything – Ruger defends tweet after accusations of promoting rape culture

    Musician Ruger is not having the backlash following controversial post he made on X (formerly Twitter). Celebrities Money na water - Cubana Chief Priest on...

    Cardoso links depleting external reserves to debt repayments

    The Central Bank of Nigeria has clarified reasons for the significant decline in the nation’s foreign exchange reserves, asserting that it wasn’t primarily aimed...

    Don't Miss

    Shaibu’s impeachment panel begins sitting

    The seven-man panel set up by the Chief Judge of Edo State, Justice Daniel Okungbowa, to investigate the allegation of misconduct levelled against the...

    FG, INTERPOL in talks over Binance chief’s extradition

    The Federal Government and the International Criminal Police Organisation have commenced the process of extraditing a Binance chief, Nadeem Anjarwalla, who escaped from detention...

    Father of 3 boys Deyemi Okanlawon says he wants to have a daughter

    Nollywood actor Deyemi Okanlawon has revealed that when his wife was pregnant with their third child, he initially wished that it was a girl. In...

    Naira sells below 1,280/$ at official, parallel markets

    The naira began the new month on a bullish note, appreciating to N1,278.58 against the United States dollar from N1,309.39 per dollar recorded last...

    Diesel price drops as Dangote sells N1,225/litre, supplies petrol May

    The pump price of Automotive Gas Oil, popularly called diesel, has dropped from about N1,700/litre which it sold for a few weeks ago, to...

    Stay in touch

    To be updated with all the latest news, offers and special announcements.