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Tag: gas

  • FG to pay N130bn as part of gas supply debt

    FG to pay N130bn as part of gas supply debt

    The Federal Government says it will soon begin the payment of N130 billion as part of gas supply debts in the Nigerian Electricity Supply Industry (NESI).

    The Minister of Power, Mr Adebayo Adelabu, said this on Thursday at the 2024 Eight Africa Energy Marketplace in Abuja.

    The forum was organised by African Development Bank (AfDB), Ministry of Power and the United Kingdom Nigeria Infrastructure Advisory Facility (UKNIAF).

    The theme of the forum titled “Towards Nigeria’s Sustainable Energy Future: Policy, Regulation, and Investment – A Policy Dialogue for the National Integrated Electricity Policy and Strategic Implementation Plan (NIEP-SIP)”.

    Adelabu said that President Bola Tinubu has approved submission of the Minister of State for Petroleum Resources, (Gas) to defray  outstanding debt owed to the gas supply companies to the power sector operators.

    The minister said the payments would be in two parts as there is the legacy debt and the current debt.

    “For the current debt, approval has been given for a cash payment of about N130 billion from the gas stabilisation fund which the Federal Ministry of Finance will pay.

    “The payment for the legacy debt is actually going to be made but from future royalties and exchange of incomes in the gas sub-sector which is quite satisfactory to the gas supply companies.

    “The last figure was about 1.3 billion dollars  and this payment, we believe, will go a long way to encourage these gas companies to enter into firm supply contracts with the power generating companies,” he said.

    Adelabu said the Federal Government planned to adopt a model that would ensure firm contracts between gas companies and majority of the power generating companies.

    “The day they cannot supply gas, there is no penalty but once there is a firm contract, they will be under contractual obligation to supply gas to these power generating companies so that we have a consistent power generation.

    Adelabu said that for the power generating companies, the debt is put at N1.3 trillion.
    The minister said the ministry of power has the consent of the President to pay on a condition of settling the reconciliation of the debts between the government and the power generating companies.

    “And this, we have successfully done, and are being signed off by both parties. Majority has signed off and we are actually engaging others, so we have 100 per cent sign off from the power generating companies.

    “The modalities for paying this will be two ways; there will be immediate cash injection as government is not buoyant enough to pay the N1.3 trillion at once.

    “A fraction will be paid in cash, while the remaining fraction will be settled through a guarantee debt instrument, preferably a promissory note, ‘’ he said.

    On his part,  Mr Sanusi Garba, Chairman, Nigerian Electricity Regulatory Commission, (NERC), said the poor financial state of the  Electricity Distribution Company (DisCos ) made  it difficult for them to raise the needed capital to invest.

    Garba said  the challenges facing the sector were a culmination of all past inactions and missteps by those saddled with the responsibilities of managing the sector both at policy and operational levels.

    He said, “today when you look at distribution companies, they are clearly and technically insolvent, and you also want them to raise capital in terms of debt or equity.

    “It’s a herculean task. I also want to mention that implementing the power sector reform requires very strong political will to implement decisions that impact on the wider public, ‘’ he said.

  • Real reasons there is no enough gas to generate electricity in Nigeria

    Real reasons there is no enough gas to generate electricity in Nigeria

    Three reasons have been identified for the low supply of gas to thermal power plants nationwide with which to generate electricity in Nigeria.

    TheNewsGuru.com (TNG) reports the reasons were identified at a meeting between the Ministry of Petroleum Resources (Gas) and the Ministry of Power.

    In a statement on Thursday by Mr Chris Ugwuegbulam, Assistant Director, Press and Public Relations of the Ministry of Petroleum Resources (Gas), the three reasons were identified as decade of gas legacy debts, vandalisation of gas resources infrastructure in the Niger Delta Region and domestic pricing of gas in dollars.

    At the end of the meeting, an inter-ministerial committee to suggest ways of achieving a sustainable gas supply to gas generating plants in the country was constituted.

    The inter-ministerial committee was in Abuja by the Minister of State Petroleum Resources (Gas), Mr Ekperikpe Ekpo and the Minister of Power, Chief Adebayo Adelabu.

    “The committee will suggest means of achieving a steady gas supply  to meet domestic and industrial needs of Nigerians in line with the Renewed Hope Agenda of President Bola Tinubu’s administration,” Ekpo said.

    He  expressed willingness to work harmoniously with any individual, organisation and agency to solve these challenges.

    Meanwhile, on his part, Adelabu stated the need for the two ministries to work collaboratively to solve the problem of low gas supply to Thermal Power Plants across the country.

    This, Adelabu said, would achieve an uninterrupted power supply in the country, adding that nothing could be done in Nigeria without stable power.

    Members of the  committee were drawn from the Ministries of Petroleum Resources and Power, Regulatory Agencies, Operators and Critical Stakeholders in the Gas and Power Sectors.

    The meeting was witnessed by some directors in the Ministries of Petroleum Resources and Power.

  • How NNPC will use gas to revolutionise Nigeria’s power, industries – Kyari

    How NNPC will use gas to revolutionise Nigeria’s power, industries – Kyari

    The Group Chief Executive Officer (GCEO), Nigerian National Petroleum Company (NNPC) Ltd., Mr Mele Kyari, says the company will utilise Nigeria’s abundant gas resources to revolutionise the nation’s power and industrial sector.

    Kyari said this in Abuja at a Shareholders Agreement (SHA) signing between the NNPC Ltd., UTM Offshore (an indigenous company) and Delta State Government, on the development of the first Floating Liquefied Natural Gas (FLNG) facility in Nigeria.

    He said in a statement that gas would be used to bring revolution in Nigeria in the next two to three years as they were already progressing on the initiatives to bring gas to the domestic market.

    “Our backbone infrastructures are almost ready to ensure we achieve that. Once that happens, we will see the immediate impact on the power sector, gas-based industries and several collateral values this will create,” the GCEO said.

    Describing the FLNG project as a task that must be done, Kyari said Nigeria’s abundant gas resources have been under-utilised, adding that the new focus would monetise such gas resources for national and global benefit.

    According to him, the FLNG Project clearly fits into the Federal Government’s gas aspirations under the Decade of Gas Initiative and in line with Mr President’s agenda to create a gas hub to maximise value for prosperity.

    Reiterating NNPC Ltd.’s commitment towards the project, Kyari said the FLNG was the first of its kind that the company was taking keen interest in.

    Kyari also said NNPC Ltd. had equity in the project.

    “There are several Floating LNGs that we are promoting, including fixed LNG projects. We are happy to collaborate with the Delta State Government. We will take practical steps to deliver this project on schedule and at the best possible cost,” the GCEO added.

    Earlier in his remarks, the Group Managing Director of UTM Offshore Limited, Mr Julius Rone, described the SHA execution as another significant milestone in actualising Nigeria’s first indigenous FLNG.

    He commended President Bola Tinubu for his dedication towards developing the Nation’s gas resources, as exemplified in the recently held COP28 Conference in Dubai, UAE.

    He also lauded the GCEO of NNPC Ltd for his leadership and commitment in ensuring that Nigeria’s gas resources were developed within the provisions of the Petroleum Industry act (PIA) 2021.

    Also speaking, the Governor of Delta State, Sheriff Oborevwori, said that the Delta State Government, which had 40 per cent of Nigeria’s proven gas reserves, decided to take eight per cent equity on the project.

    This, he said, was because of the company’s conviction of the strategic importance of the project to the national economy.

    The governor said that apart from producing over 300,000 metric tonnes of LPG (cooking gas) which would be dedicated to the domestic market, the FLNG project would also help to mitigate environmental hazards in the Niger Delta.

    Oborevwori said the FLNG would reduce gas flaring, create ample employment opportunities and ensure the switch from kerosene and firewood to cleaner energy, thus improving the health and general wellbeing of the people.

    In attendance to witness the execution of the SHA was the Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo, who said FLNG would ensure monetisation of Nigeria’s gas resources to drive the economy and attain energy security.

    Mr Olalekan Ogunleye, the Executive Vice President, Gas, Power and New Energy, spoke briefly on the project and lauded the Federal Government for its belief in the ability of gas to drive and accelerate economic growth.

    The FLNG facility is expected to produce 1.81 to 2.72 metric tonnes of gas per annum (mtpa).

    Its project equity has NNPC Ltd., UTM Offshore and the Delta State Government holding 20 per cent, 72 per cent and eight per cent stakes respectively.

  • Construction of Nigeria-Morocco gas project begins in 2024 – Minister

    Construction of Nigeria-Morocco gas project begins in 2024 – Minister

    The Minister of State, Petroleum Resources (Gas), Ekperikpe Ekpo, says the construction of the Nigeria-Morocco Gas Pipeline Project which aims to link European market is expected to begin in 2024.

    Under this project, Gas is expected to be transported through the participating countries, including Nigeria, Benin, Togo, Ghana, Côte d’Ivoire, Liberia, Sierra Leone, Guinea, Guinea-Bissau, The Gambia, Senegal, Mauritania, and Morocco.

    Ekpo, while receiving a delegation of envoys from the Kingdom of Morocco led by its Ambassador to Nigeria, Moha Ou Ali Tagma on Monday in Abuja, said Nigeria was ready and interested in the project.

    The delegation visited the minister for a bilateral discussion on cooperation and commitment towards finalising the Trans-Atlantic pipeline project and also on the development of its fertiliser plant in Nigeria.

    Recall that the Nigeria-Morocco Gas Pipeline Project has advanced with the signing of four Memoranda of Understanding (MoU) in June 2023 to ensure progress and strategic direction of the 25 billion dollars Trans-Atlantic project.

    MoUs were signed between the Nigerian National Petroleum Company Limited (NNPC Ltd), Office National des Hydrocarbures et des Mines (ONHYM) of Morocco and the Société Nationale des Opérations Pétrolières of Cote d’Ivoire (PETROCI) among others.

    Once completed, the project will enhance the monetisation of the natural gas resources of the affected African countries and also offer a new alternative export route to Europe.

    Ekpo, while expressing Nigeria’s interest and readiness said with its position of 209 trillion cubic feet of proven gas reserves, there was need to supply gas to the continent before exporting to other continents.

    “I believe by 2024 we will conclude on it. Your company has been relating with the NNPC Ltd and I have been receiving briefs. We also talked about it during the meeting of West African Gas Pipeline Committee Parties.

    “For the fact that the pipeline existing within that corridor currently is 20 inches; there is a proposal to increase the size after Togo to 46 inches so that the flow will be large enough.

    “Currently the world is talking about climate change and the natural gas is the sure way to go with low carbon emission so we have to be serious about utilisation of gas for prosperity.

    On the fertiliser project of the country, he said with the era of natural gas and components used to boost fertiliser industries, all the value chain should be exploited.

    Earlier, the Moroccan Ambassador described the project which started in 2016 as the most important in Africa aimed at exporting gas to Europe, adding that between 2016 and 2023 many meetings and MoUs signing had been held.

    Tagma said the economic and technical studies being conducted on the project would be concluded early 2024, adding that the participating governments could decide to start its construction in 2024.

    “The objective of this project is not to transport gas only but also to offer some opportunities for development of the countries between Nigeria and Morocco for supplying of energy,’’ he said.

    The ambassador disclosed that its OCP Group,  (formerly Office Chérifien des Phosphates), the most exporter of fertiliser in the world had inaugurated plants in Kaduna, Sokoto and Ogun states, then currently opening in Akwa Ibom.

    He said the construction of the 1.5 billion dollars fertiliser plant project in Akwa Ibom would commence in December, adding that it would spur investments.

  • Major disaster averted as gas flare results from water borehole in Enugu

    Major disaster averted as gas flare results from water borehole in Enugu

    A major gas fire disaster was averted in Enugu State at the weekend but the State Fire Service successfully put out the gas flare that erupted during a borehole drilling at the Federal Housing Estate in Ugwogo Nike, Enugu.

    This was even as the State government warned against drilling of boreholes without the authorisation of the State’s Ministry of Environment and Climate Change and other relevant government agencies.

    Prof. Sam Ugwu, the Commissioner for Environment and Climate Change, stated this during an inspection tour of the incident at Nike on Sunday.

    The gas flare occurred at about 10:30 p.m. on Saturday and lasted till the early hours of Sunday, resulting in the rig operators and some residents scampering for safety.

    During the site inspection, Ugwu, who was also accompanied by the Special Adviser to the Governor on Energy and Mineral Resources, Mr. Kingsley Nnaji, thanked the firemen, led by the Chief Fire Officer, Okwudiri Ohaa, for their prompt intervention.

    According to Ugwu, the state had last year, experienced same gas flaring around the Caritas University, making it the second incident.

    “The government is going to investigate the incident further because already, we have environmental laws. They were supposed to have applied to the Ministry of Environment and Climate Change.

    “The ministry would come here to do an Environment Impact Assessment (EIA) and then there would be a letter of commencement, which would be issued by the ministry.

    “So, I advise anybody going into the ground to do the proper thing to avoid this kind of experience we now have here. But for the prompt intervention of the State Fire Service, this could have caused loss of lives and houses around this place.

    “But these gas eruptions have also further confirmed Gov. Peter Mbah’s statement that we have both solid and liquid mineral resources in abundance in Enugu State.”

    The governor had said his administration was very much interested in harnessing them for the good of the people of Enugu and the nation in general.

    Ugwu added that Enugu coul not be known as Coal City alone because it had gas, limestone, kaolin, gypsum, and other mineral resources in abundance.

    “That is why the present government is very much interested in bringing local and foreign investors to come and invest in these mineral deposits,” Ugwu stated.

    Narrating the incident, Ohaa said the experience garnered by the Fire Service during such accidental gas eruption around Caritas University, Nike, helped them in applying the right measure to stop the flare.

    “What readily came to mind was the incident at Caritas University last year, around 24th May to be precise. That Caritas University incident took us roughly three weeks to quench because we never had such an experience before that.

    “But with the support of the government that has continued to finance us for emergencies like this, we were able to put off this one in less than eight hours.

    “It shows that the Enugu State Government is not joking about making the state the first choice for investment, ” he said.

    He warned residents of the area to respect the cordon by the servicemen and also avoid coming close to the site with fire of any kind.

    He, however, assured that his men would be on ground until the flow totally stopped.

    A resident of the estate, Mr Boniface Ogbueje, told newsmen that the incident caused pandemonium, but commended the State Fire Service for saving the situation.

    “We thought the rig or the vehicle had gas leakage and caught fire. Eventually it was not the case. The fire continued to increase and increase.

    “People were running helter-skelter, but the firemen came quickly and were able to bring the fire under control after several hours. God really helped us, ” he said.

    Meanwhile, a staff member of the drilling firm, Orange Drilling Company, Kamarudeen Ado, said they were taken unawares as they least expected the presence of natural gas in the water pumping up.

    He, however, confirmed that there were no loss of lives and property, while those injured were receiving treatment in an undisclosed hospital.

  • How tanker accident almost marred 6th Lagos International Badminton Classics finals

    How tanker accident almost marred 6th Lagos International Badminton Classics finals

    An unusual event almost marred the final of 6th Lagos International Badminton Classics at the Molade Okoya Thomas Hall of Teslim Balogun Stadium, Surulere, Lagos, on Saturday.

    TheNewsGuru.com (TNG) reports a tanker laden with gas was involved in an accident at the foot of the Stadium Bridge.

    The tanker driver ran into the barrier placed at the foot of the bridge, which led to leakage of gas from the tanker. Emergency workers had to cordon off the area to offload the tanker.

    Two USA players who were scheduled to play against their Indian counterparts in the Women’s Singles final were caught in the gridlock caused by the incident.

    In the ensuing drama, the finals of the Women’s Double and Single between Lauren Lam and Paula Lynn Cao against the Indians; Sirran Singhi and Ritika Thaker, was declared a walkover after 10 minutes.

    The President of Badminton Federation of Nigeria (BFN), Francis Orbih, had pleaded with the officials to suspend the match to allow the USA duo arrive the venue.

    The Indians, however, rejected the overtures insisting on following the rules of the game which stipulates a walkover after 10 minutes lateness.

    Meanwhile, in the men’s single, Jonathan Matias defeated Pablo Abian of Spain in a tightly contested match, while Fabio Caponio of Italy and Dmtny Panarin of Kazakhstan were joint third.

    For the Women’s Single, Ines Lucia Castilo-Salazar of Peru defeated Lauren Lam of USA for the title, while Rachel Darragh of Ireland and Juliana Vaiana Viera of Brazil were joint third.

    Speaking on the unfortunate incident, Orbih said the federation would take the matter up with the world body.

    “The Women’s Double is supposed to be the second match, but everyone knows what happened today on the bridge where there was an accident as a gas tank was leaking and the road had to be cordoned off.

    “Most of our guests were also caught up in the traffic that lasted about three hours and the pair of the USA team due to play in the Women’s Double was also caught up in the gridlock.

    “By the time they got here, they had missed the time as the rule says after 10 minutes, there should be a walkover. We approached the referee and told him that the situation was a force majeure, which is no one’s fault.

    “We asked for the match to be rescheduled to allow the girls play, but the Indian team insisted that there must be a walkover,” he said.

    Orbih added: “There were lots of politics in the game to the extent that we had to call the World Body for clarification, but there were two different responses.

    “At the end of the day, the Indian team refused to play, which also affected the Women’s Single as one of the ladies (Lam), caught up in the traffic, who was supposed to play in the finals was automatically disqualified for not playing the Doubles.

    “Anyways, we need to put that behind us as the Men’s Single final was a spectable to behold; the match got guests their cheering the finalists.

    “This tournament will go down in history for its great records and achievements, while we take up the other issues with the African and World Body,” he said.

  • Disaster averted as gas truck collides with barricade in Lagos

    Disaster averted as gas truck collides with barricade in Lagos

    Disaster was averted in Lagos State on Saturday after a truck ladened with 27 tonnes of Liquefied Petroleum Gas (LPG) collided with an overhead truck barricade at Alaka.

    The collision left the top inlet compartment of the gas truck faulty and leaking its contents, leading to a situation of emergency and traffic diversion.

    However, according to a statement by Adeseye Margaret, Director of the Lagos State Fire and Rescue Service, the emergency situation has been averted completely.

    TheNewsGuru.com (TNG) learnt that emergency responders teamed up with the State Fire and Rescue Service to avert the disaster and there is no record of casualty.

    “The reported Gas Tanker with registration number KRD-281XR enroute Ibadan, Oyo State, belonging to Gasland has been successfully evacuated back to the company’s gas plant, Apapa.

    “The incident which resulted after the truck laden with 27 tonnes capacity of Liquefied Petroleum Gas hit the newly installed overhead truck barricade at Alaka, left its top inlet compartment faulty and leaking its contents  leading to the emergency situation that has now been completely averted.

    “The road, Western Avenue has now been opened for traffic flow and succinctly reiterates that no injury nor death recorded in the successful salvage operations which is now concluded,” the statement reads.

  • Nigeria requires $20bn annually for gas expansion projects – NEITI

    Nigeria requires $20bn annually for gas expansion projects – NEITI

    The Nigeria Extractive Industries Transparency Initiative (NEITI) says Nigeria requires $20 billion annually to achieve the desired gas expansion plan to bridge the country’s gas infrastructure.

    Dr Orji Ogbonnaya Orji, NEITI Executive Secretary, at the policy dialogue on Nigeria’s Decade of Gas Action plan on Monday in Abuja said given the shrinking fossil fuel investment landscape, clarity was required of infrastructure to be prioritised.

    The dialogue was organised by the African Initiative for Transparency, Accountability and Responsible Leadership (AFRITAL) in collaboration with the Natural Resource Governance Institute (NRGI).

    The Federal Government in December 2020 rolled out the National Gas Expansion Programme (NGEP) to deepen the use of natural gas and make it a preferred form of cleaner, cheaper energy for both personal and industrial use.

    In a remark, Orji said Nigeria had the largest gas reserves in Africa and the ninth-largest globally with gas reserves of over 200 trillion cubic feet (tcf).

    “The Petroleum Industry Act (PIA) provides the most significant progress for the gas sector in strengthening governance and providing fiscal frameworks for the sector’s growth.

    “The gas utilisation plan should show the market-driven opportunities that would successfully translate the gas plans into sustainable economic development.

    “For the gas utilisation policy to work, there is a compelling need for deliberate ambitious investment in its infrastructure. This includes specific connectivity across upstream facilities to processing, power plants and other end uses.

    “The network code provides a framework through third-party access to resolve some of the connectivity issues but to a large extent, achieving the desired gas expansion will require an estimated $20 billion annually,” he said.

    Orji said that a new concept analysis would be required to demonstrate the new approaches the government intends to embrace to deliver on the gas infrastructure.

    He recommended that the Federal Government should develop and publish a detailed, realistic, coated and comprehensive gas policy with clear roles for the state, and non-state actors and timelines to track periodic progress.

    Orji urged government to develop an industry-specific linkage between the integrated gas policy with Nigeria’s energy transition policies with a supporting action plan built on a robust monitoring and evaluation framework to track implementation.

    He also called for a detailed plan to end gas flaring through a private sector-led commercialisation programme and pursue an open, competitive and transparent gas flare commercialisation programme,” he said.

    Earlier, Dr Louis Ogbeifun, the Executive Director AFRITAL, had decried the fact that Nigeria is so rich in gas, but most of its citizens use firewood or coal for cooking with all its attendant health hazards.

    “Over the years, Nigeria has behaved like the prodigal son by exporting mineral resources to earn dollars for consumption without savings, reinvestment in revenue, and employment generation ventures.

    “These analogies reflect the contradiction of being a rich but poor nation. Rich because Nigeria is vastly rich and blessed with abundant minerals and energy resources but so poor that most citizens lack access to affordable electricity and other essential social and welfare benefits,” Ogbeifun said.

    He said in a bid to reverse the highlighted negative narrations, achieve energy accessibility, afordability, and sustainability as a country that the 2021-2030 government legislation tagged the “Decade of Gas Action Plan (DofG)” was enunciated.

    According to him, If the government’s intentions are effectively implemented, Nigeria is expected to witness a vast gas Infrastructural development during the period.

    He said part of the stepping stones toward achieving the goals of DofG was the construction of the 614km Ajaokuta-Kaduna-Kano gas pipeline to transport about two billion cf of natural gas per day.

    “This and other initiatives are also aimed at deepening the usage of LPG and CNG in the country and ultimately expanding the Autogas policy, which would reduce dependency on petrol as our mainstay for transportation in the long run.

    “Before the AKKP project, Nigeria conceptualised the Nigeria-Morroco Gas Pipeline, as an extension of the West Africn Gas Pipeline, which would run through some African countries with a possible linkage to European market.

    “This project was conceptualised in 2016. Outside the NLNG project, the Nigeria-Morrocco Gas Pipeline project would meet the international focus even as the local expansion of the LPG and CNG are also being pursued.

    “Let us hope that our leaders would cautiously navigate the rough edges of the coup in the Niger Republic to forestall the risks of sabotage of this project by international state and non-state actors,” he said.

    Also speaking, Mr Aaron Sayne of NGRI, called for tackling of foreign exchange and policy issues, investment and access to finance on gas project while indigenous players should take place of the International Oil Companies.

    Mrs Oluremi Komolafe, Director, Gas, Ministry of Petroleum Resource, said the ministry would remain was committed to energy transition.

    Komolafe added that the NGEP was making way toward its realisation, while Compressed Natural Gas engines conversion was ongoing, noting that production would be spured to meet demand.

  • Food prices continue to rise in March- NBS

    Food prices continue to rise in March- NBS

    The National Bureau of Statistics (NBS), said that prices of food items such as yam, beans and beef witnessed increases in March.

    This is contained in NBS Selected Food Prices Watch Report for March 2023 released in Abuja on Wednesday.

    The report said the average price of 1kg beef boneless on a year-on-year basis, increased by 25.05 per cent from N1, 982.92 in March 2022 to N2, 479.61 in March 2023.

    “On a month-on-month basis, 1kg beef boneless increased by 1.38 per cent from N2, 445.96 recorded in February 2023.”

    The report also said the average price of 1kg of tomato on a year-on-year basis, rose by 13.81 per cent from N409.96 in March 2022 to N466.60 in March 2023.

    “However, on a month-on-month basis, 1kg of tomato declined by 0.32 per cent from N468.09 recorded in February 2023.

    The report also showed that the average price of 1kg of brown beans (sold loose) increased by 13.13 per cent on a year-on-year basis, from N527.66 in March 2022 to N596.96 in March 2023.

    “On a month-on -month basis, it increased by 0.47 per cent from N594.15 recorded in February 2023.”

    Similarly, it said the average price of 1kg of onion bulb rose by 17.37 per cent on a year-on-year basis, from N378.59 in March 2022 to N444.37 in March 2023.

    “While on a month-on-month basis, it dropped by 1.27 per cent from N450.07 recorded in February 2023.”

    The report said the average price of 1kg of Yam tuber rose by 25.30 per cent on a year-on-year basis from N353.56 in March 2022 to N443.02 in March 2023.

    “On a month-on -month basis,1kg tuber of yam increased by 1.51 per cent from N436.41 recorded in February 2023.”

    In addition, the average price of one bottle of vegetable oil stood at N1, 220.62 in March 2023, showing an increase of 25.80 per cent from N970.29 recorded in March 2022.

    “On a month-on-month basis, it rose by 2.00 per cent from N1, 196.68 recorded in February 2023.”

    The report said at the state level, the highest average price of 1kg of beef (boneless) was recorded in Anambra at N3,107.44, while the lowest was recorded in Kogi at N1,778.00.

    It said Edo recorded the highest price of tomato at N901.23, while Kogi recorded the least at N196.41.

    The report said Ebonyi recorded the highest price of beans brown (sold loose) at N906.00, while Kebbi recorded the lowest at N352.70.

    It said Cross River state recorded the highest average price of 1kg of onion bulb at N981.86, while Taraba recorded the lowest at N205.50

    The NBS said the price of 1kg of yam was highest in Akwa Ibom at N900.80, while Taraba recorded the lowest at N188.60.

    The report said Abia recorded the highest price of Vegetable oil (1 bottle at N1,618.21, while Benue recorded the lowest at N720.00.

    Analysis by zone showed that the average price of 1kg of beef (boneless) was highest in the South-East at N3,044.46, while the North-Central recorded the lowest at N2,077.44.

    It said the average price of 1kg of tomato was highest in the South-South at N811.13, while the lowest was recorded in the North-East at N237.52.

    The report said the South-East recorded the highest average price of 1kg of brown beans (sold loose) at N793.71, while the lowest was recorded in the North-East at N479.30

  • Why you should not convey gas cylinders in passenger vehicles

    Why you should not convey gas cylinders in passenger vehicles

    The Corps Marshal, Federal Road Safety Corps (FRSC), Dauda Biu has cautioned against conveyance of explosive materials like gas cylinders in passenger vehicles.

    The warning is contained in a statement by the Corps Public Education Officer, Bisi Kazeem on Saturday in Abuja.

    Biu also warned drivers against excessive speed to avoid crashes while on the road. The corps marshal said that the measures were necessary to save lives.

    The warning was in reaction to the fatal crash opposite Mat Oil, Ode-Omu in Osun on Friday.

    The crash involved a white commercial Mazda Bus with registration number APP 834 XT and a white Lexus Jeep registered LSR 304 HW.

    Sixteen people, including five children were burnt to death while four others survived with severe burns.

    Biu said that investigation conducted into the crash revealed that it was caused by speeding which led to loss of control.

    He added that the impact of the crash triggered the gas cylinder being conveyed in the bus to explode and consume 16 lives.

    The FRSC boss said that the burnt bodies have been evacuated and deposited at the morgue of Ladoke Akintola University of Technology Teaching Hospital, Osogbo.

    He added that the evacuation was  carried out by FRSC rescue team in collaboration with police personnel from Odeomu Division.

    Recall that 16 persons lost their lives in Friday’s accident that occurred on the Ode-Omu highway as confirmed by the Sector Commander of FRSC,  Mr Henry Benamesia, on Saturday in Osogbo.

    Benamesia said the accident occured  at about 6 p.m., around Mat-Oil area, at Ode-Omu Community in the metropolis.

    According to him, the accident was caused by excessive speed and lack of adherence to traffic  regulations by the two drivers.

    He said that the accident involved a commercial vehicle, Mazda, with Reg. No. APP 834 XT, and a Lexus Jeep, with Reg. No. LSR 304 HW.

    He further said that the deceased comprised 11 adults and five children, who were burnt beyond recognition.

    Benamesia further said that their remains had been deposited at the Ladoke Akintola University of Technology Teaching Hospital’s morgue in Osogbo.

    He said that the FRSC rescue team, in collaboration with other sister-agencies, including the Police from Odeomu Division, carried out the evacuation.

    He said that the wreckage had since been evacuated to prevent traffic gridlock on the road.