Business
NNPC and NIPCO partner to construct 35 CNG stations nationwide
The Nigerian National Petroleum Company (NNPC) Limited says it has partnered with NIPCO Gas Limited to construct 35 compressed natural gas (CNG) stations across the country.
CNG is a fuel that can be used in place of petrol, diesel, and liquefied petroleum gas (LPG). It is used in traditional petrol/internal combustion engine automobiles or specifically manufactured vehicles.
Garba Deen Muhammad, NNPC’s spokesperson, in a statement on Thursday, said the partnership aims to provide cheaper alternative fuel to motorists in Nigeria in compliance with President Bola Tinubu’s directive.
“As part of the Nigerian National Petroleum Company (NNPC) Limited’s commitment to providing cheaper alternative fuel to motorists, the company is happy to announce a strategic partnership with NIPCO Gas Limited to deploy compressed natural gas (CNG) stations across the country,” the statement reads.
“This landmark collaboration aims to expand our CNG infrastructure, improve access to CNG, and accelerate the adoption of cheaper and cleaner alternative fuel for buses, cars, and Keke NAPEP, which will significantly reduce the cost of transportation and engender sustainable national economic growth.”
Muhammad said under the NNPC-NIPCO strategic partnership, 35 state-of-the-art CNG stations will be constructed nationwide, including three mother stations.
The NNPC spokesperson said the project would be rolled out in phases.
“Once fully operational, the stations can service over 200,000 vehicles daily, thereby significantly reducing the cost of automobile fuel for Nigerians and the cost of transportation,” he said.
“The first phase, comprising 21 CNG stations, will support intra-city transportation and be ready by the first quarter of 2024; while the second phase, comprising 35 CNG stations, will support inter-city transformation and will be ready by late 2024. This will be further complemented by an additional 56 stations to be deployed by NNPC Retail across the country.
“This initiative will leverage Nigeria’s abundant natural gas resources to bring multiple benefits to Nigerians, including access to cheaper fuel, reduced cost of transportation, reduced carbon emissions, create new business value chains and streams of job opportunities.”
According to the statement, NIPCO Gas Limited is currently operating 14 CNG stations across Nigeria and has converted over 7,000 vehicles to run on CNG.
The national oil firm added that NIPCO’s technical competency and field experience will bolster the initiative’s success and amplify its positive impact on the nation’s economy.
On Tuesday, in a nationwide broadcast, President Tinubu said his administration has made provision to invest N100 billion between now and March 2024 to acquire 3,000 units of 20-seater buses powered by compressed natural gas (CNG).
The Federal Airport Authority of Nigeria (FAAN) has begun the sale of electronic tags (e-tags) at airports.
In a statement on Friday, FAAN said this initiative is in line with the presidential directive that mandates the use of e-tags for accessing the nation’s federal airports.
“Following the presidential directive that all citizens are mandated to pay for e-tags at all the 24 federal airports across the country, we wish to inform the general public that the e-tags are available for sale from Friday, 17th May, 2024 at the following locations,” FAAN said.
“Lagos: Murtala Muhammed International Airport Lagos, Terminal 1, 5th Floor) Office of HOD Commercial. Contact: 08033713796 or 08023546030.
“Abuja: Nnamdi Azikiwe International Airport, HOD Commercial Office (General Aviation Terminal) Contact: 08034633527 or 08137561615.”
FAAN said there will be an option to pay in cash at the access gates for motorists without e-tags.
On May 14, Festus Keyamo, minister of aviation, announced everyone, including the president and vice-president, would pay tolls at the nation’s airports.
Keyamo said the government was losing over 82 percent of the revenue it should have earned from the access fee.
Emirates Airlines has confirmed its return to operations in Nigeria starting October 1, 2024.
The airline disclosed this via its official X handle Thursday.
“We’re back, Nigeria! We’ll be resuming services to Lagos from 1 October 2024, and we can’t wait to offer unrivalled connectivity to Dubai and beyond to over 140 cities,” the tweet read.
The airline will be operating a daily service between Lagos State and Dubai, and will offer customers more choice and connectivity from Nigeria’s largest city to, and through, Dubai.
The naira depreciated to N1,550 against the dollar at the parallel section of the foreign exchange (FX) market on Wednesday.
The current FX rate signifies a decline of 1.95 percent from the N1,520/$ reported on May 13.
Currency traders, also known as street traders, in Lagos, quoted the buying rate of the local currency at N1,510/$ and the selling rate at N1,550/$ — leaving a profit margin of N40.
At the official window, the local currency appreciated by 4.21 percent against the dollar from N1,520.4/$ on May 14 to close at N1,459.02 on Wednesday.
According to FMDQ Exchange, a platform that oversees the official window, a dollar was sold as high as N1,593 and at a low rate of N1,401 during trading hours.
The daily foreign exchange market turnover was $289.14 million.
On May 14, the Economic and Financial Crimes Commission (EFCC) said foreign missions based in Nigeria use third parties to transact in foreign currencies.
Speaking during an interview, Wilson Uwujaren, EFCC’s acting director of public affairs, said the commission has a task force whose duty is to fight the abuse of the naira and discourage transactions in dollars within Nigeria — which is against the law.
Court denies Binance executive Gambaryan’s bail, demands speedy trial
FAAN begins sale of e-tags at airports
Junior Pope’s wife and family in tears as he is laid to rest in his hometown in Enugu (Video)
ICIR kicks as police invite journalist over alleged cyberstalking, defamation
Mahamat Déby declared as winner of Chad presidential poll
African Television and Foundation for Justice vows to pay N50 million to anyone with credible information on Mohbad’s death
Tinubu’s student loan application portal opens May 24
Burna Boy, Asake, Ayra Starr, Seyi Vibez, Tems nominated for 2024 BET Awards
Abike Dabiri returns to Twitter after nearly a year offline – with numerous awards
Sabinus reacts to accusations of domestic abuse against wife
Harry and Meghan: Outrage on social media as UK journalist says Nigerians are Nazis
Some youth trading crypto are unaware they’re being used to fund terrorism, says Olukoyede
Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.
She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others
-
Entertainment7 days agoTems announces release date for her debut album ‘Born In The Wild’
-
Business1 week agoFive levies Nigerians pay for electronic transactions
-
Entertainment1 week agoPortable acquires luxury house in Lekki (Video)
-
Religion2 days agoAllow RCCG members attend your schools for free, Lege Miami tells pastor Adeboye
-
Entertainment6 days agoEsther Ogbu narrates how she once slept on the floor for seven days to avoid being sexually molested
-
News1 week agoLagos state government introduces electronic system for 10-minute approval of building permits
-
Business2 days agoSMEDAN begins disbursement of N5bn loans to SMEs
-
Entertainment2 days ago“My dating era has come to an end” – Actress Susan Peters shed tears of joy as she hints at remarriage