General
NIPCO Cuts Auto CNG to N200/Standard Cubic Feet to Boost Usage
By Adedapo Adesanya
NIPCO has cut the cost of Auto Compressed Natural Gas (Auto CNG) to as low as N200 per standard cubic feet (scm) as part of efforts to promote the use of the fuel as an alternative to Premium Motor Spirit (PMS) also called petrol.
This happened as the company announced the completion of four CNG stations in the commercial city of Lagos.
The facilities would be opened for commercial operations by the end of April or May to become the first of its kind in the state.
The Managing Director of NIPCO Gas Limited, Mr Nagendra Verma said the firm has been involved in AutoCNG development and expansion since 2009.
Mr Verma, who assured sustainability of supply after commissioning said presently, for Cars, Taxis and Keke’s; AutoCNG is being sold at N200/scm against the petrol price of N610 per litre, in Lagos and N230/scm against the PMS price of N670 per litre in Abuja.
He further informed that similarly for heavy commercial vehicles, AutoCNG is being sold at N260/scm against the AGO price of N1,250 litre in Lagos and N290/scm against the AGO price of N1300 litre in Abuja.
“NIPCO Gas is sure that with the continuous focus and push by current government, AutoCNG will become the choice fuel for Nigeria which has the potential to reduce the pressure on importation as well as on Forex,” he added.
According to him, AutoCNG is a project for the masses and of National cause and importance.
“We are sure that once expanded across Nigeria, it will surely and relieve the masses and motorists from high fuel costs. We continuously seek blessings and support of the Government and media to make AutoCNG a reliever, cleaner and greener fuel for Nigeria,” he said.
Speaking on the the company’s strategy, Mr Verma said, initially the company started with Benin City and expanded the AutoCNG network to Ibafo in Ogun State and later on in Kogi State.
He stressed further that with the initiatives and clear mandate by the current government, the AutoCNG network also expanded to Abuja FCT, Ibadan in Oyo State and Oron in Akwa Ibom State.
NIPCO Gas presently operates 15 AutoCNG stations across Nigeria and CNG vehicles from Lagos can travel up to Abuja and Kaduna by taking CNG from in-between NIPCO Gas AutoCNG stations and soon motorists can travel across every nook and cranny of Nigeria.
Under current government directives, NIPCO Gas has partnered with the Nigerian National Petroleum Company (NNPC) Limited for the expansion of AutoCNG stations across various states of Nigeria.
“Partnering with NNPCL under directives from the Presidency brings along a huge sense of responsibility and commitment towards masses of Nigeria and Government.
“NIPCO Gas is honoured with this trust and belief by the Government and NNPCL and has assured that we will not leave any stone unturned to make this AutoCNG expansion plan a reality which will relieve thousands and millions of citizens from the pain they are going through presently,” Mr Verma added.
He also disclosed that under the current partnership, 35 AutoCNG are planned to be constructed in a phased manner.
He also revealed that locations for 19 CNG stations have been identified and the firm has received stage-wise approval from NMDPRA and other statutory authorities.
He said the four CNG stations in Lagos are scheduled to be completed by the latest May 2024, adding, “For making this AutoCNG expansion project a reality, we are getting due support and guidance from all including but not limited to PCNGI, NMDPRA, SON, NNPC, other Ministries and Departments and Media too who are also keen to see this as reality in near future.”
Mr Verma said gas distribution and AutoCNG projects are highly capital-intensive projects that require huge investment and the highest level of commitment and perseverance and expressed hope that with support from all and with a continuous push from the Presidency, the firm will surely make it happen.
He went further to state that NIPCO Gas in addition to AutoCNG is also expanding the gas transportation pipeline towards Ibadan and the gas distribution network in the Lekki Free Zone.
“All these projects require huge investment and high gestation period. Once the above projects are commissioned, it will help in a greater way in deepening the utilisation of indigenous gas which remains under-utilised and reduce dependency on importation of other fossil fuels thereby reducing the pressure on forex,” he added.
General
Tinubu Seeks Senate Confirmation of Tegbe as Power Minister
By Adedapo Adesanya
President Bola Tinubu has written to the Senate seeking confirmation of the nomination of Mr Joseph Tegbe as the Minister of Power in the Federal Republic of Nigeria.
The request, read by the President of the Senate, Mr Godswill Akpabio, during plenary on Tuesday, was conveyed in a letter addressed to the Senate.
President Tinubu, citing Section 147(2) of the 1999 Constitution (as amended), which empowers the President to nominate ministers subject to Senate confirmation, urged lawmakers to give the request prompt consideration.
Last week, Mr Tinubu nominated Mr Tegbe as the Minister of Power, following the resignation of Mr Adebayo Adelabu to pursue a governorship ambition in Oyo State under the All Progressives Congress (APC) in the 2027 polls.
In the same vein, President Tinubu sought confirmation of two other nominees: Ambassador Sola Enikanolaiye as Minister of State, as well as Mr Rabiu Abdullahi Umar as the chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
“The nomination has been transmitted to the Senate for screening and confirmation in accordance with the Constitution,” a statement by presidential spokesperson Mr Bayo Onanuga read in part.
Like his predecessor, Mr Tegbe is from Oyo State. He is a fiscal and economic reform expert with over 35 years of experience spanning the public and private sectors.
A former Senior Partner and Head of Advisory Services at KPMG Africa, he led wide-ranging initiatives in fiscal policy reform, institutional transformation, and governance in that firm.
Mr Tegbe has also advised key government institutions and private sector organisations on strategic reforms, regulatory frameworks, and investment structuring.
Until his nomination, he served as the Director General and Global Liaison for the Nigeria-China Strategic Partnership (NCSP), and was responsible for strengthening bilateral development cooperation between Nigeria and the People’s Republic of China.
Key priority for Mr Tegbe, if confirmed, will be to institute and execute policies that can help fix one of Nigeria’s most crucial sectors.
General
Court Orders SERAP to Pay DSS Operatives N100m For Defamation
By Adedapo Adesanya
Justice Halilu Yusuf of the Federal Capital Territory High Court, Abuja, has awarded N100 million in damages against the Incorporated Trustees of the Socio-Economic Rights and Accountability Project (SERAP).
In his judgment, Justice Yusuf held that two operatives of the Department of State Services (DSS) were right to institute a defamation suit against SERAP.
In the suit, filed in the names of the two DSS officials, Ms Sarah John and Mr Gabriel Ogundele, the claimants accused SERAP of making a false allegation that they invaded its office in Abuja on September 9, 2024.
The court also ordered the organisation to tender a public apology to the two operatives, to be published in two national newspapers and broadcast on two television stations.
In addition, the court awarded N1 million against SERAP as the cost of litigation.
The judgment further stipulated a 10 per cent interest on the damages until the sum is fully paid.
The case follows a dispute that began in September 2024 when SERAP alleged that DSS officers “unlawfully invaded” its Abuja office.
In a post on its X account, the group said, “Officers from Nigeria’s State Security Service are presently unlawfully occupying SERAP’s office in Abuja, asking to see our directors.”
It added, “President Bola Tinubu must immediately direct the SSS to end the harassment, intimidation, and attack on the rights of Nigerians.”
The DSS, however, denied the claims.
It said the visit by its officers was routine and meant to engage the organisation’s new leadership.
The officers later sued, insisting that “no invasion occurred” and that the claims damaged their reputation and led to disciplinary action.
However, SERAP maintained its position.
In a later statement, it said, “We stand by our statements of defence and statements on oath,” insisting that DSS officers “unlawfully invaded our Abuja office.”
During court proceedings, witnesses reportedly said no physical assault took place.
SERAP’s Deputy Director, Mr Kolawole Oluwadare, told the court the claims were based on information from a staff member.
Counsel to the DSS officers, Mr Oluwagbemileke Kehinde, urged the court to grant all reliefs, arguing that the claimants had “substantially proved their case.”
General
UK Court Freezes Nigerian Oil Trader’s Global Assets Over $40m Debt
By Adedapo Adesanya
A court in the United Kingdom has taken sweeping action against a Nigerian oil trader, Mr Abdulrahman Musa Bashar, freezing his assets worldwide in a bid to secure repayment of a long-running debt dispute tied to failed fuel transactions.
The order, issued by the High Court in London, prevents Mr Bashar and his firm, Ultimate Oil and Gas FZCO, from selling, transferring, or otherwise dealing with assets across multiple jurisdictions, including Nigeria, the United Arab Emirates, the United Kingdom, and France. The restriction applies up to the value of the outstanding liability, with disclosed holdings estimated at nearly $170 million.
According to Business Day, the dispute traces back to oil trading agreements between 2022 and 2023, when Dubai-based Petrichor Energy supplied gasoil and Jet-A1 aviation fuel to Ultimate.
Court filings indicate that while deliveries were completed, payments were inconsistent and ultimately fell short, leaving the supplier to pursue legal and arbitration routes to recover its funds.
In an attempt to resolve the matter, Mr Bashar entered a personal repayment agreement in early 2024, backing the company’s obligations with his own guarantee.
He also issued a series of signed cheques as security. However, these measures failed to yield results, as the debt remained unsettled and the cheques were rejected upon presentation.
The court’s decision to impose a global freeze was influenced by what it described as troubling conduct during the dispute. Evidence suggested that assets were being sold without proceeds going toward the debt, alongside concerns that not all holdings had been fully disclosed.
The newspaper reported that testimony also pointed to an alleged warning from Mr Bashar that he might move assets out of reach if negotiations broke down, an assertion the court treated as a credible risk of asset dissipation.
The ruling adds to a growing list of legal challenges facing the businessman. He has previously been sanctioned by English courts for failing to comply with orders in a separate commercial dispute, and was also convicted in Dubai, the UAE, in a different cheque-related case.
With the freezing order now active, Petrichor has expanded its recovery efforts beyond the UK, initiating enforcement actions in both the UAE and Nigeria.
The move aims to block any pathways through which assets could be shielded, while also enabling seizure or control where legally permitted.
In a further escalation, the English court has directed two Nigerian-linked companies associated with Mr Bashar to grant access to a Delta State storage facility, allowing the creditor to recover fuel cargoes tied to the unpaid transactions. Failure to comply could trigger additional legal consequences, including contempt proceedings.
Despite ongoing attempts by Mr Bashar and his company to overturn the freezing order, the court has so far declined to lift the restrictions, leaving the enforcement process firmly in motion.
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