Economy
Nigeria’s Gas Flaring Worsens Further as NOSDRA Stops Monitoring, Tracking
By Adedapo Adesanya
Nigeria’s gas flaring continued to worsen as energy companies operating in the country flared 11.315 billion standard cubic feet (SCF) of gas in September 2025, according to latest data released by the Nigerian National Petroleum Corporation (NNPC) Limited, rising by 11.37 per cent compared with 10.431 billion SCF (BSCF) of gas flared in August 2025.
The NNPC in its gas utilisation and flare data for September 2025, also disclosed that the country recorded total gas output of 150.316 billion SCF in the month under review, dropping by 11.48 per cent from 169.819 billion SCF of gas recorded in August 2025, from which 7.53 per cent of the total output was flared.
The continued increase in the percentage volume of gas flared in the country can largely be attributed to the oil spill and gas flare watchdog, National Oil Spill Detection and Response Agency’s (NOSDRA) discontinuation of gas flare monitoring and tracking across the country.
Prior to June 2025, when NOSDRA last published the May 2025 gas flare data, its Gas Flare Tracker was usually published on a monthly basis.
The tracker showed data on the volume and value of gas flared, the volume of carbon dioxide emitted into the environment, the electricity generation potential of the gas flared and the penalties the offending firms were supposed to pay to the government.
Specifically, since NOSDRA stopped tracking and publishing gas flare data collected from oil and gas production sites across the petroleum industry since May 2025, the country had recorded a steady rise in the percentage volume of gas flared.
For instance, the NNPC, in its gas production and gas flare reports, noted that the percentage volume of gas flared by oil and gas firms in May and June 2025 stood at 5.33 per cent and 5.61 per cent of total gas output in their respective months.
In July 2025, the NNPCL reported that 11.636 billion SCF of gas, representing 5.99 per cent of total gas production in the month, was flared; in August 2025, oil firms flared 6.14 per cent of their total gas output, which was 10.431 billion SCF of their total gas output; while in September 2025, the oil firms flared 7.53 per cent of the 150.316 billion SCF of gas produced in the country in the same month.
When contacted on the issue, NOSDRA refused to provide any reason for its decision to discontinue gas flare tracking.
It will be recalled that NOSDRA, had in 2019, announced that it had commenced the real-time tracking and monitoring of gas flaring and oil spillage across the country, with the launch and handover of the environmental monitoring tools, the Oil Spill Monitor and Gas Flare Tracker.
According to NOSDRA, the advantages of the tracker included that the country would have its own gas flare data, would be able to get whatever amount of gas anybody flares into the system, and the companies compelled to pay the correct penalty.
The Gas Flare Tracker was developed for NOSDRA by the Stakeholder Democratic Network, SDN, with funding from the Facility for Oil Sector Transparency and Reform, FOSTER.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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