Business

NLNG suspends cooking gas export, channels 100% to domestic market

Published

4 years ago

January 14, 2022

The Nigeria LNG Limited announced on Thursday that its board of directors had approved the supply of 100 per cent of the Liquefied Petroleum Gas (butane and propane) produced by the company to the Nigerian market.

The NLNG said in a statement that it would prioritise the domestic market for 100 per cent of its butane (cooking gas) production.

It noted that it supplied its first propane cargo into the domestic market three months ago.

The company said it had developed a scheme to sustainably supply propane for usage in cooking gas blending as well as in agro-allied, autogas, power and petrochemical sectors of the Nigerian economy to further deepen gas utilisation in the country.

It said the initiatives were designed to increase LPG availability in Nigeria, diversify its uses and support the Federal Government’s Decade of Gas initiative.

According to the statement, the NLNG is currently the highest single supplier of LPG into the domestic market, with an estimated 400,000 metric tonnes supplied in 2021.

The Managing Director and Chief Executive Officer, NLNG, Dr Philip Mshelbila, said the announcement marked the company’s strong commitment to the continued growth of the domestic LPG market and its passion to increase utilisation of one of the most versatile energy sources in the world.

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He said, “Committing 100 per cent of our LPG supply is a major milestone in our journey of domestic gas supply. We supplied our first butane cargo into the domestic market in 2007, which helped to develop over the years the LPG industry in Nigeria from less than 50,000 tonnes to over 1 million tonnes market size annually by the end of 2020.

“In 2021, we increased our LPG supply commitment from 350,000 metric tonnes (or 28 million 12.5kg cylinders) to actual delivery of 400,000 metric tonnes (or 32 million 12.5kg cylinders) thereby directing most of our production into the domestic market.

“But this was not enough for NLNG, hence this commitment to do all that we possibly can and supply 100 per cent of our LPG production to the domestic market.”

According to Mshelbila, gas, as the cleanest of the fossil fuels, has become an essential energy source to be reckoned with during this energy transition period.

He said, “Other countries are revolutionising their energy industry to cut down on carbon emissions drastically. Nigeria should not be left out in this drive, considering its abundant gas resources.

“Gas is essential for life and living at the moment, because it can support everything we will need to develop our economy and create better living standards for Nigerians. We need to change the narrative, and NLNG is being pragmatic about it.”

Asked if the company exported cooking gas in the past, the NLNG, in an emailed response to The PUNCH enquiry, said, “Nigeria LNG Limited supplied LPG both to the Nigerian and international markets before now. With the decision of the Board of Directors, all of the company’s LPG production will be delivered to the domestic market.”

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Business

Naira Strengthens to ₦1,359.31/$ as CBN Data Shows Further Gain in Official Market

Published

2 hours ago

April 10, 2026

Trends Admin

Naira Strengthens to ₦1,359.31/$ as CBN Data Shows Further Gain in Official Market

The Naira continued its positive performance on Thursday, appreciating further in the official foreign exchange market to close at ₦1,359.31 per US dollar, according to data published by the Central Bank of Nigeria (CBN).

The latest figure represents an improvement of ₦12.50 compared to the previous trading day, reflecting a 0.9 percent gain from Wednesday’s closing rate of ₦1,371.82/$.

The appreciation highlights continued stability in the official foreign exchange window, where recent policy measures have helped improve liquidity and reduce pressure on the local currency.

Market analysts attribute the naira’s relative strength to ongoing foreign exchange reforms by the CBN, increased dollar supply in official channels, and tighter regulation aimed at narrowing the gap between official and parallel market rates.

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The CBN has in recent months intensified efforts to stabilise the currency through measures such as improved FX market transparency, better coordination with market participants, and steps to attract foreign portfolio inflows.

Despite the gains in the official market, traders note that the parallel market remains more volatile, with rates still influenced by strong demand for foreign currency from importers, travellers, and businesses outside official allocation channels.

Economists say the recent appreciation could help ease short-term inflationary pressure, particularly on imported goods, fuel pricing, and manufacturing inputs, although they caution that sustained stability will depend on broader macroeconomic fundamentals.

These include stronger foreign reserves, improved export earnings—especially from crude oil—and continued investor confidence in Nigeria’s economic policy direction.

The naira’s performance also comes amid renewed attention on Nigeria’s broader economic outlook, with stakeholders closely monitoring the impact of monetary tightening and ongoing fiscal reforms.

As of the latest trading sessions, market participants expect the CBN to maintain its current policy stance in the near term as it works to consolidate recent gains in the foreign exchange market in Nigeria.

Naira Strengthens to ₦1,359.31/$ as CBN Data Shows Further Gain in Official Market

Business

Nigeria May Face ₦2,000 Petrol Price Without Intervention, TUC Warns FG

Published

2 hours ago

April 10, 2026

Trends Admin

President of the Trade Union Congress of Nigeria (TUC) Festus Osifo

TUC Warns Petrol May Hit ₦2,000/Litre, Proposes Crude Revenue Subsidy Plan to FG

DETAILS:

The Trade Union Congress of Nigeria (TUC) has warned that petrol prices in Nigeria could rise to as high as ₦2,000 per litre if urgent economic measures are not introduced to stabilise the country’s energy and currency markets.

TUC President, Festus Osifo, issued the warning during a press briefing in Abuja, citing the combined impact of rising global crude oil prices and continued depreciation of the naira as major drivers of worsening fuel costs.

Osifo said Nigerian workers are already under severe economic pressure, noting that in some parts of the country, fuel pump prices are already approaching the ₦2,000 threshold due to market volatility and transportation differentials.

He explained that the 2026 national budget benchmarked crude oil at about $64.85 per barrel, while current international prices hover around $100 per barrel, creating what he described as significant “excess revenue” for the government.

The TUC is proposing that the Federal Government allocate about 60% of this excess crude revenue to support local production by subsidising crude supply to domestic refineries, including the Dangote Refinery and other modular refineries.

According to Osifo, this approach would be more transparent and harder to manipulate than the previous fuel subsidy regime, while also helping to reduce the cost of petrol, diesel, and aviation fuel within a short period.

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He argued that targeted support at the refinery level could reduce pump prices within two weeks if implemented, stressing that the current cost structure is unsustainable for households and businesses.

The TUC president also criticised the slow expansion of Compressed Natural Gas (CNG) infrastructure, noting that although CNG adoption is being promoted as an alternative to petrol, the absence of refuelling stations along major highways limits its practicality for long-distance transport.

Beyond economic issues, Osifo also raised concerns over worsening insecurity in parts of the country, particularly recent killings in Plateau State, urging the government to strengthen military response capabilities with modern technology and intelligence tools.

He warned that failure to address rising fuel costs could reverse recent gains in inflation control, arguing that high petrol prices directly impact inflation, transport fares, and food costs across Nigeria.

Osifo further suggested that the naira’s fair value should ideally be within the ₦800–₦900 per dollar range to ease pressure on fuel pricing and broader economic stability.

The TUC stated that it will formally present its proposal to the Federal Government ahead of upcoming federation revenue distributions, insisting that urgent intervention is necessary to prevent further economic hardship.

As of the time of filing this report, the Federal Government has not issued an official response to the proposal or the ₦2,000-per-litre warning.

Nigeria May Face ₦2,000 Petrol Price Without Intervention, TUC Warns FG

Business

Dangote Sugar Warns Staff Over Chewing Sugarcane, Threatens Arrest

Published

2 hours ago

April 10, 2026

Trends Admin

Dangote Sugar Warns Staff Over Chewing Sugarcane, Threatens Arrest

Dangote Sugar Refinery Plc has issued a stern and final warning to employees at its Numan operations in Numan, banning the chewing of company sugarcane within its premises and threatening severe disciplinary actions, including arrest and prosecution, for defaulters.

The directive, contained in an internal memo dated April 7, 2026, and signed by the Head of Human Resources, Ikechukwu Okorie, categorised the act as “gross misconduct”. The company stressed that any staff caught engaging in the practice risks summary disciplinary measures, which may extend to legal consequences.

According to the memo, the sugarcane cultivated and processed at the facility is a valuable company asset, and unauthorised consumption amounts to misuse of resources. Management noted that beyond the economic implications, the habit of chewing cane and discarding chaff indiscriminately undermines hygiene and sanitation standards required in a food processing environment.

The circular further emphasised that maintaining strict housekeeping is critical to operations at the Numan plant, warning that littering the premises with cane residue violates established workplace standards. As part of enforcement, security personnel have been placed on high alert and directed to apprehend any employee found violating the directive, with offenders facing both internal disciplinary action and possible prosecution aimed at recovering losses.

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The strongly worded memo ended with a clear warning — “BE WARNED FOR THE LAST TIME!!!” — underscoring the company’s zero-tolerance stance on the issue.

The development comes amid ongoing expansion efforts by Dangote Sugar, particularly under its backward integration programme designed to boost local sugar production. The company is scaling up operations through large-scale cultivation and processing projects across multiple states.

As part of its broader financial strategy, Dangote Sugar recently announced a proposed ₦500 billion rights issue to reduce debt, strengthen its balance sheet, and fund expansion projects. These include upgrades at its Numan facility and new developments in Nasarawa State and Taraba State.

Since the memo surfaced online, it has sparked mixed reactions on social media, with some supporting the company’s strict stance on discipline and hygiene, while others consider the threat of arrest excessive for what appears to be a minor infraction. As of the time of filing this report, the company has not released an official public statement addressing the leaked circular.