Business

FG PURSUE GAS ALTERNATIVE

Wednesday, 30 August 2023 12:22
In 6 months, 9000 autogas filling stations will open, reports FG The National... has finalized preparations for the Federal Government to roll out 9000 autogas filling stations from the existing 10,000 retail outlets around the nation.   Under the National Gas Expansion Programme (NGEP), the Federal Government has decided to roll out 9000 autogas filling stations from the current 10,000 retail outlets across the nation during the next six months. Dr. Mohammed Ibrahim, the NGEP's chairman, said the organization has made significant progress in reviving the economy by utilizing the nation's gas resources, despite the frustration of the subsidy cabals and some stakeholders who claimed the gas expansion program would never succeed.   He spoke as the N250 billion NGEP money, which was subject to strict restrictions, had been sitting idle at the Central Bank of Nigeria (CBN) for the previous four years. Ibrahim gave a speech in Lagos at…
Mark Zuckerberg, the CEO of Facebook, informed Elon Musk that he was out of town after the tech billionaire's adversary threatened to drive a Tesla to the Facebook CEO's house. After Mr. Zuckerberg canceled the battle, claiming that his opponent was not serious about the match, Mr. Musk posted on Twitter to explain his most recent intentions to try to fight the Facebook founder. And he said, "I will ask the car to go to @finkd's house for the Tesla FSD test drive in Palo Alto tonight. I'll also test the most recent X livestream footage so you can follow our journey in real time! The combat will begin if we are fortunate and Zuck really answers the door. He continued to criticize his tech opponent for pulling out of the competition in a subsequent article. Coming soon is a Zuck thread about how, of course, he would fight whenever,…
Dr. Deji Adeleke, a well-known Nigerian businessman and pro-chancellor of Adeleke University in Ede, Osun State, started work on a 1,250-megawatt power plant in Ajebandele village, Ondo State, to address Nigeria's electricity shortage and enhance the country's power supply. But because of site theft, this $2 billion ambitious project is already experiencing substantial delays. With a theoretical energy-generating capacity of 12,522 MW, Nigeria struggles to deliver more than 4,000 MW, leaving more than 200 million people with insufficient power. Adeleke was motivated to act as a result of this circumstance and build the power plant to contribute to the current electricity generation.                                                                                        Dr. Deji Adeleke Speaking during…
According to Bismarck Rewane, CEO of Financial Derivatives, Nigeria's GDP is predicted to increase in the first quarter of 2024. Rewane, who spoke on Arise News on Saturday, said that Nigerians will face "more pain" before the end of the year. "The bad news is that there is pain and that there will be more pain in the short run," he continued, "but the good news is that there will be gains in the first quarter of 2024." "I used to think you'd get it sooner, but you'll need a supplemental budget and to recycle money into the system."   Tinubu declared the termination of the petrol subsidy in his first speech as president on May 29, resulting in an increase in the price of petrol at the pump. According to TheCable, the price has risen to N617 per liter in the federal capital territory (FCT) and surroundings, while it…
A Nigerian business has become the country's first independent marketer to successfully import fuel. The Nigerian National Petroleum Company Limited (NNPC) has been the sole importer of petroleum products for many years. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has begun giving licenses to oil marketing businesses after the end of the subsidy system. Emadeb Energy Services Limited has broken the Nigerian National Petroleum Company Limited's (NNPC) long-standing monopoly as the exclusive importer of petroleum products into Nigeria.
Now, how did Tinubu persuade governors from four different political parties to save up more than fifty percent of the federal revenue generated last month, instead of sharing it? It is unprecedented. Moreover, that's the highest that has ever been generated.   This is nearly quadruple the amount shared in June (N786.161 billion) and more than triple the amount shared in May (N655.93 billion). Allocations are typically made from the previous month's income, thus June will be distributed in July. The Federation Account Allocation Committee (FAAC) will meet in Abuja on Wednesday to allocate funds to the three levels of government based on the sharing criteria.    Statutory collections account for N1.7 trillion of federally collected revenues, with VAT accounting for N293 billion and electronic money transfer levies accounting for N12 billion. There have been rumors that there has never been a month with a larger monthly revenue in Nigeria's history.…

GAS THE ALTERNATIVE

Wednesday, 19 July 2023 12:06
A Nigerian man displays cars that have been converted to run on compressed natural gas, with a cylinder visible inside the boot. A Nigerian man claims that using compressed natural gas, CNG, instead of premium motor spirit, PMS, saves him 70% on fuel prices. Imran Wakili, the guy, presented a car belonging to his brother that runs on CNG in a tale he shared on Twitter. However, if the automobile runs on CNG, it will only cost N15 per kilometer traveled, representing a considerable saving in fuel costs. On Twitter, he stated   It is advisable to switch your car from PMS to CNG. PMS consumption is 51Naira/km. CNG consumption is 15 Naira per kilometer. A substantial 70% discount. "This is my brother's vehicle." The CNG gas cylinder was placed in the trunk of the automobile, according to this photo, while one is in the back of the Hilux van.…
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