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Gas Scarcity Looms As Operators Await NLNG’s Supply

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cooking Gas
  • Gas Scarcity Looms As Operators Await NLNG’s Supply

There is rising fear of an imminent scarcity of Liquefied Petroleum Gas, popularly known, as cooking gas as most depots are out of stock, especially in Lagos State after the Nigeria LNG Limited failed to supply the commodity.

Usually, the Nigeria LNG Limited, which is based in Port Harcourt, makes use of the vessel to deliver cooking gas to Lagos at least twice in a month, and then buyers take the commodity to different parts of the country by trucks.

Why it matters: The supply shortfall has already led to an increase in the retail price of the commodity in Lagos and some part of the country.

If the vessel does not arrive anytime soon, then those who still have some in stock will have to withhold it, until they are sure they will get a supply. This however basically means two things, scarcity and higher price.

What authorities are saying: Mr Bassey Essien, the Executive Secretary of the Nigerian Association of Liquefied Petroleum Gas Marketers, confirmed to Punch on Monday that the vessel has not delivered the commodity this month in Lagos State.

Meanwhile, there are speculations that the vessel would likely arrive in Lagos on Tuesday or Wednesday.

Earlier on Friday, NLNG spokesperson, Sophia Horsfall disclosed that the company delivered 12,000 metric tonnes to the Navgas terminal in Apapa, Lagos State on 15th of October, adding, “Our next delivery for about the 10th of November will be to NOJ terminal in Lagos.”

According to her, the company began delivery to Stockgap Terminal in Port Harcourt last month due to the conclusion of technical approval processes required to deliver the product to it.

The liquefied natural gas producing company had in a letter last week assured off-takers that the inclusion of the terminal would not adversely impact on its Lagos buyers.

“We also recommenced deliveries to the Navgas terminal in September following resolution of some operational challenges, which creates more avenues for NLNG to deliver volumes into Lagos.

“So as it stands now, we will be delivering volumes to Lagos and Port Harcourt; so our deliveries will be shared across NOJ, Navgas and Stockgap terminals,” it said.

Economy

COVID-19: Nigeria Record Highest New Cases on Thursday as Continent Death Nears 83,000

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COVID-19: Nigeria Record Highest New Cases on Thursday as Continent Death Nears 83,000

The largest African economy, Nigeria recorded her highest ever COVID-19 new cases on Thursday, 21st of January.

Nigeria recorded her highest daily count of 1,964 new COVID-19 cases on Thursday, this was 300 higher than the previous high record of 1,664 new COVID cases it recorded on the 7th of January, 2021.

The country has recorded a total of 116,655 cases, 93,646 recoveries and, 1,485 deaths across the states since the outbreak of the Corona Virus.

According to health experts, the daily increase of new cases in the new year could be ascribed to the massive gatherings during the festive season, the relaxation of COVID-19 protocols in the various parts of the country, and in the two major airports, Lagos and Abuja airport.

The adverse effect of the global health pandemic has seen Africa recorded 82,781 COVID-19 death cases across the continents.

Confirmed Cases of COVID-19 from 55 African countries reached 3,364,031, reported deaths were 82,781 and, 2,809,825 were reported to have recovered as of January 22, 2021

The Africa country with the most reported COVID-19 cases in South Africa with a total of 1,380,807 cases of which 39,501 are death cases. Other most-affected countries are Morocco (463,706), Tunisia (190,884), Egypt (159,715), Ethiopia (132,326), and Nigeria (116,655).

The numbers are compiled by the Center for Systems Science and Engineering (CSSE) at Johns Hopkins University (world map) using statistics from the World Health Organization and other international institutions as well as national and regional public health departments.

 

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Economy

The 46th President of the USA, Joe Biden Reversed EX-President Donald Trump Immigrant Visa Ban on Nigeria

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Joe Biden Economic Impliccations on Nigeria

The 46th President of the USA, Joe Biden Reversed EX-President Donald Trump Immigrant Visa Ban on Nigeria

On his first day in office, the 46th President of the United States of America reversed the immigrant visa ban placed on Nigeria and other countries by the former president, Donald Trump.

The executive order, 9983, issued by the former president Donald Trump on January 31st, 2020, unveiled the ban on immigrant visas to six countries; Myanmar, Eritrea, Nigeria, Sudan, Tanzania, and Kyrgyzstan.

Amongst numerous executive orders signed by the new president of the United State, Joe Biden, on January 20th, was the reversal of some of the orders issued by his predecessor, Donald Trump, which bans citizens of certain countries from accessing the immigrant visa.

According to the Trump administration, a system was established to access three important criteria-

“whether a foreign government engages in reliable identity-management practices and shares relevant information; whether a foreign government shares national security and public safety information; and whether a country otherwise poses a national security or public-safety risk.”

The failure of Nigeria and other countries to measure up to this criteria landed them on the ban list.

Biden’s Press secretary, Pen Psaki said additional action which will ensure that the president-elect delivers his promise to the American people will be announced.

“In the coming days and weeks, we will be announcing additional executive actions that confront these challenges and deliver on the president-elect’s promises to the American people,” Pen said.

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Economy

Buhari to Spend N729 Billion on 24.3 Million Poor Nigerians

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Buhari to Spend N729 Billion on 24.3 Million Poor Nigerians

President Buhari is working on spending N729 billion on 24.3 million poor Nigerians despite the present economic recession, weak industries and zero new job creation.

Sadiya Farouq, the Minister of Humanitarian Affairs, Disaster Management and Social Development, disclosed this during the inauguration of the Federal Government’s emergency intervention database for the urban poor.

In a statement released by Nneka Anibeze, the Minister’s Aide, the financial intervention would help cushion the impact of the COVID-19 pandemic on identified people.

According to the Minister, the Federal Government would disburse N5,000 each to 24.3 million poor and vulnerable Nigerians for a period of six months. A total of N729 billion.

In part, the statement reads, “According to records, about 24.3 million poor and vulnerable individuals were identified at the end of 2020 and registered into the National Social Register.

“Each beneficiary will receive N5,000 for a period of six months.

The government is embarking on handouts despite the nation’s fiscal challenges and economic recession. The N5,000 or N729 billion can help build or support available industries, fast track economic recovery and improve job creation against sharing it with people it will has little to zero impact on their lives.

This is one of the numerous leakages being addressed by the same administration. The database can not be verified neither are the people to be paid.

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