RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Economy

FG Commits to Supplying 5 Billion Cubic Feet of Gas to Domestic Markets

Akpan Edidong by Akpan Edidong
November 28, 2023
in Economy
Reading Time: 2 mins read
A A
0
FG Commits to Supplying 5 Billion Cubic Feet of Gas to Domestic Markets

Pipeline supply gas to factory

Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

In a significant development, the Federal Government of Nigeria has pledged to provide 5 billion cubic feet of gas per day to both domestic and export markets. This commitment was announced by the Minister of Petroleum Resources (Gas), Ekperikpe Ekpo, during the West African Gas Pipeline (WAGP) Authority Committee of Ministers (COM) meeting in Cotonou, Benin Republic.

During his address at the meeting, Ekpo assured member countries, including Benin, Togo, and Ghana, of a consistent and reliable gas supply from Nigeria to meet their domestic energy needs. The pledge is in line with the Decade of Gas Initiative, which aims to develop and commercialize over 5 billion cubic feet per day (bcf/d) of gas for both domestic usage and export markets.

AlsoRead

CBN Keeps Benchmark Rate at 26.5% as MPC Maintains Tight Monetary Policy

Foreign Reserves Cross $52 Billion, Highest Level in 17 Years

Nigeria’s $40 Billion Blockchain Ambition Lags as Focus Shifts to Crypto Regulation

Ekpo highlighted key initiatives driving Nigeria’s transition from an oil-based to a gas-based economy, including the Nigerian Gas Expansion Program (NGEP) and the Compressed Natural Gas (CNG) initiative. He emphasized that these efforts would ensure a continuous and reliable supply of gas to the West African Gas Pipeline through N-Gas Limited, the commercialization vehicle for Eastern gas.

To bolster the commitment to N-Gas Limited and other stakeholders in the value chain, Ekpo expressed support for the Nigerian Gas Infrastructure Company (NGIC). The focus is on addressing challenges within the Escravos Lagos Pipeline System (ELPS), with ongoing projects aimed at resolving pressure issues.

Projects initiated by NGIC include linking gas resources from the eastern region with demand regions in the west and north of Nigeria. Additionally, the installation of midline compressors is underway to comprehensively tackle pressure challenges in the ELPS system.

Ekpo emphasized the Nigerian government’s dedication to fostering unity in the West African sub-region and ensuring energy stability through the West African gas pipeline system. He underscored the nation’s current emphasis on gas as a primary fuel source, highlighting initiatives like the Presidential Compressed Natural Gas (CNG) program and the Nigerian Gas Expansion Programme (NGEP) designed to promote the transition from liquid fuels to gas in various sectors.

Notably, Ekpo recently convened a meeting involving NNPCL, NMDPRA, and Chevron to address the rising prices of cooking gas. Ahead of the Christmas holidays, he stressed the urgency of finding solutions to alleviate cost pressures, demonstrating the government’s commitment to ensuring energy affordability and preventing hardships for Nigerians.

Previous Post

U.S. Dollar Nears Three-Month Low Amid Inflation Concerns

Next Post

Navigating Inflation Crossroads: Nigeria’s Economic Odyssey Amidst Global Trends

Related News

$26 Billion for unidentified source passed through Binance-Cardoso

CBN Keeps Benchmark Rate at 26.5% as MPC Maintains Tight Monetary Policy

by Stephen Akudike
July 22, 2026
0

The Central Bank of Nigeria (CBN) has decided to retain the Monetary Policy Rate (MPR) at 26.5%, maintaining its tight...

Nigeria’s Foreign Reserve Records a Slight Increase of $12 Million

Foreign Reserves Cross $52 Billion, Highest Level in 17 Years

by Jide Omodele
July 22, 2026
0

Nigeria’s external reserves have reached $52.02 billion, marking the highest level recorded in more than 17 years and surpassing the...

CBN Scrambles over Nigeria’s Cryptocurrency Problem

Nigeria’s $40 Billion Blockchain Ambition Lags as Focus Shifts to Crypto Regulation

by Bolarinwa Mathew
July 22, 2026
0

Nigeria’s national blockchain policy, launched three years ago with the potential to generate up to $40 billion in economic value,...

Nigeria Expends More Than $1 Billion Subsidizing Fuel in August as Petrol Supply Increases

Depots Increase Petrol Prices to N1,230 per Litre Following Dangote Refinery’s Pricing Shift

by Akpan Edidong
July 21, 2026
0

Private fuel depot owners across Nigeria have raised the price of petrol to between N1,200 and N1,230 per litre after...

Next Post
Navigating Inflation Crossroads: Nigeria’s Economic Odyssey Amidst Global Trends

Navigating Inflation Crossroads: Nigeria's Economic Odyssey Amidst Global Trends

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

$26 Billion for unidentified source passed through Binance-Cardoso

CBN Keeps Benchmark Rate at 26.5% as MPC Maintains Tight Monetary Policy

July 22, 2026
Nigeria’s Foreign Reserve Records a Slight Increase of $12 Million

Foreign Reserves Cross $52 Billion, Highest Level in 17 Years

July 22, 2026

Popular Story

  • Dollar Index Loses Steam as Treasury Yields Drift Back to 4.8%

    Naira Strengthens to N1,375/$ in Official Market Amid Improved Trading Conditions

    0 shares
    Share 0 Tweet 0
  • Nigeria’s $40 Billion Blockchain Ambition Lags as Focus Shifts to Crypto Regulation

    0 shares
    Share 0 Tweet 0
  • FG Releases Revised Import Prohibition List, Bans Paracetamol, Tomato Paste and others.

    0 shares
    Share 0 Tweet 0
  • 31 Nigerian States Grapple with N2.57 Trillion Domestic Debt Amid No Foreign Inflows

    0 shares
    Share 0 Tweet 0
  • Foreign Reserves Cross $52 Billion, Highest Level in 17 Years

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>