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
FG Pledges to Revive Atlantic Refinery Project

By Adedapo Adesanya
The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, has expressed dismay over the abandonment of the Atlantic Refinery project in Brass Local Government Area of Bayelsa State, promising to rejuvenate it.
Mr Lokpobiri made this commitment during an inspection visit to Ewa-ama Road, which leads to the Brass Petroleum Products Terminal (BPPT), where he engaged with key community stakeholders.
He assured stakeholders that the federal government would review the project to ensure its eventual completion.
“The federal government remains committed to completing critical infrastructure projects that drive economic growth and improve livelihoods. This project will be thoroughly reviewed to ensure its eventual completion,” he pledged.
The Minister commended the people of Brass for their peaceful disposition despite the challenges posed by the refinery’s abandonment, urging them to sustain the peace.
“Stability is crucial for attracting further investments and development to the region,” he emphasised.
Reaffirming President Bola Tinubu’s commitment to delivering on key development projects, Mr Lokpobiri reiterated that the government remains dedicated to advancing initiatives that will benefit the Niger Delta.
The Minister was accompanied on the visit by Mr Farouk Ahmed, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), as part of efforts to assess and fast-track key projects in the region.
General
Obi Urges Transparency, Accountability as 2025 Budget Swells 9%

By Adedapo Adesanya
The presidential candidate of the Labour Party in the 2023 general elections, Mr Peter Obi, has called for transparency and accountability as a result of the recent increase in the 2025 budget by 9.1 per cent to N54.2 trillion.
Mr Obi, in a message on X, the social media platform formerly known as Twitter, said while the sources of revenue were detailed, there was no corresponding breakdown of expenditures to justify the budget increase.
President Bola Tinubu on Wednesday raised the proposed budget by 9 per cent from N49.7 trillion to N54.2 trillion, citing additional revenues generated by key government agencies such as the Federal Inland Revenue Service (FIRS), the Nigeria Customs Service (NCS), and other government-owned agencies.
Mr Obi, in his message, stressed the need for Nigerians to be informed on how public funds are allocated and spent.
“For transparency and accountability sake, Nigerians need to know how the resources generated from them are being allocated to ensure that they are judiciously spent on the country’s development and the well-being of the people,” Mr Obi said.
He added that budgetary expenditures should be directed toward critical areas of development, including education, healthcare, security, and poverty alleviation, to ensure meaningful impact on citizens’ lives.
“Yesterday, I read about the increase in the Budget of Restoration to ₦54 trillion due to increased revenue.
“While the sources of this revenue were detailed, there is no corresponding breakdown of expenditures to justify the increase. For transparency and accountability sake,” part of the statement read.
He said Nigerians are still waiting for a detailed account of the execution and expenditures of the Renewed Hope budget, which was passed in December 2023, calling on the National Assembly to seize this opportunity to obtain and make public the full details of the 2024 budget of Renewed Hope budget.
He also called on lawmakers and government officials to prioritise openness and accountability to safeguard public trust as preparations begin for the 2025 Budget of Restoration.
“Transparency in this regard is crucial for ensuring accountability, learning from past budgets, and making informed decisions for the nation’s progress.
“As we work towards passing the Budget of Restoration for 2025, let us uphold openness, accountability, and the welfare of the Nigerian people. We owe it to ourselves, our children, and the future of our great nation,” he stated.
General
Fidelity Bank MD Lauds Soludo’s Prudent Spending of Anambra Funds

By Modupe Gbadeyanka
Governor Charles Soludo of Anambra State has been applauded by the chief executive of Fidelity Bank Plc, Mrs Nneka Onyali-Ikpe, for the infrastructural development in the state.
The banker said she was marvelled at the avalanche of projects in the state and how the Governor has managed the scarce funds of the state without borrowing.
“I am very impressed with the quality, size, and finishing of the projects being executed in this state without borrowing from financial institutions,” Mrs Onyali-Ikpe said during a tour of projects in Anambra State on Wednesday.
“I’m blown away by the size of infrastructure that I’m seeing today; the contemporary architecture, the finishing, and the size of it. It is intimidating. I’m excited that we finally have something that befits our state, Anambra.
“I’m interested in knowing how Soludo is building the infrastructure without borrowing money,” the Fidelity Bank chief said.
During the tour, the banking executive, accompanied by the Deputy Chief of Staff and Chief of Protocol to Governor Soludo, also visited the ongoing Anambra State government house and lodge with Amphitheatre, the Solution Fun City, a centre for funfair and celebrations, amongst others.
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