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  •   Techno Oil receives ISO certification for quality management Mr Felix Nyado Director Management Systems Certification SON presentingthe ISO 9001 2015 certificate of quality management system to Mrs Nkechi Obi Chief Executive Officer Techno Oil Ltd on Tuesday in Lagos Techno Oil receives ISO certification for quality managementTechno Oil Ltd a wholly owned Nigerian integrated energy company has received the ISO 9001 2015 certification for its quality management system The certificate was formally presented to Mrs Nkechi Obi Chief Executive Officer Techno Oil Ltd by the Director General of the Standards Organisation of Nigeria SON Malam Farouk Salim on Tuesday in Lagos Obi said the award was issued as a result of the conformity of the company s Quality Management System to the requirements of the standard ISO 9001 2015 She said the award followed about two years of rigorous certification assessment by auditors after which the system was adjudged to have conformed to the requirements of the International standards The ISO award is a sign of our commitment on how we will go about our business with the best practices We will continue to implement every step that has been outlined to us It is a way of life for us and we will continue to improve and abide by the principles of ISO in our operations Obi added On his part Salim represented by Mr Felix Nyado Director Management Systems Certification SON said by the achievement the company had joined a privileged class of Quality Management System certified organisations in Nigeria He said This milestone achievement in the pursuit of service excellence is highly commendable and worthy of emulation by all oil and gas energy infrastructure and manufacturing companies in Nigeria As I join other Nigerians to congratulate you on this milestone achievement permit me to remind you that the petroleum industry is the hub of the development for Nigeria s economy and needs to be sustained if the country is to achieve real economic growth and create new jobs Adoption of the ISO 9001 2015 quality management system framework reflects your vision to deliver quality products to your customers at all times I am confident that this focus on production of quality products will also strengthen your relationship with stakeholders Salim noted that the certificate was for a duration of three years which would be subjected to review annually He said that the company must therefore strive to confirm with all the outlined processes in order not to have it withdrawn I am aware that your products such as Liquefied Petroleum Gas cylinders and lubricants are under our Mandatory Conformity Assessment Programme MANCAP and today you are being presented a certificate of conformity to ISO 9001 2015 You will agree with me that your biggest challenge in this endless journey to excellence will be to consistently direct your efforts towards meeting customer requirements to enhance their satisfaction I am sure that this certification to ISO 9001 2015 will be a launching pad for your organisation Salim said The News Agency of Nigeria reports that the ISO 9001 2015 is defined as the international standard that specifies requirements for a quality management system QMS Most organisations use the standard to demonstrate the ability to consistently provide products and services that meet customer and regulatory requirements Also the ISO 9001 2015 in addition to the above specifies requirements for a quality system when the organisation aims to enhance customer satisfaction through the effective application of the system These include processes for improvement of the system and the assurance of conformity to customer and applicable statutory and regulatory requirements www nannews ng NewsSourceCredit NAN
    Techno Oil receives ISO certification for quality management
      Techno Oil receives ISO certification for quality management Mr Felix Nyado Director Management Systems Certification SON presentingthe ISO 9001 2015 certificate of quality management system to Mrs Nkechi Obi Chief Executive Officer Techno Oil Ltd on Tuesday in Lagos Techno Oil receives ISO certification for quality managementTechno Oil Ltd a wholly owned Nigerian integrated energy company has received the ISO 9001 2015 certification for its quality management system The certificate was formally presented to Mrs Nkechi Obi Chief Executive Officer Techno Oil Ltd by the Director General of the Standards Organisation of Nigeria SON Malam Farouk Salim on Tuesday in Lagos Obi said the award was issued as a result of the conformity of the company s Quality Management System to the requirements of the standard ISO 9001 2015 She said the award followed about two years of rigorous certification assessment by auditors after which the system was adjudged to have conformed to the requirements of the International standards The ISO award is a sign of our commitment on how we will go about our business with the best practices We will continue to implement every step that has been outlined to us It is a way of life for us and we will continue to improve and abide by the principles of ISO in our operations Obi added On his part Salim represented by Mr Felix Nyado Director Management Systems Certification SON said by the achievement the company had joined a privileged class of Quality Management System certified organisations in Nigeria He said This milestone achievement in the pursuit of service excellence is highly commendable and worthy of emulation by all oil and gas energy infrastructure and manufacturing companies in Nigeria As I join other Nigerians to congratulate you on this milestone achievement permit me to remind you that the petroleum industry is the hub of the development for Nigeria s economy and needs to be sustained if the country is to achieve real economic growth and create new jobs Adoption of the ISO 9001 2015 quality management system framework reflects your vision to deliver quality products to your customers at all times I am confident that this focus on production of quality products will also strengthen your relationship with stakeholders Salim noted that the certificate was for a duration of three years which would be subjected to review annually He said that the company must therefore strive to confirm with all the outlined processes in order not to have it withdrawn I am aware that your products such as Liquefied Petroleum Gas cylinders and lubricants are under our Mandatory Conformity Assessment Programme MANCAP and today you are being presented a certificate of conformity to ISO 9001 2015 You will agree with me that your biggest challenge in this endless journey to excellence will be to consistently direct your efforts towards meeting customer requirements to enhance their satisfaction I am sure that this certification to ISO 9001 2015 will be a launching pad for your organisation Salim said The News Agency of Nigeria reports that the ISO 9001 2015 is defined as the international standard that specifies requirements for a quality management system QMS Most organisations use the standard to demonstrate the ability to consistently provide products and services that meet customer and regulatory requirements Also the ISO 9001 2015 in addition to the above specifies requirements for a quality system when the organisation aims to enhance customer satisfaction through the effective application of the system These include processes for improvement of the system and the assurance of conformity to customer and applicable statutory and regulatory requirements www nannews ng NewsSourceCredit NAN
    Techno Oil receives ISO certification for quality management
    General news1 month ago

    Techno Oil receives ISO certification for quality management

    Techno Oil receives ISO certification for quality management Mr Felix Nyado, Director, Management Systems Certification, SON presentingthe ISO 9001:2015 certificate of quality management system to Mrs Nkechi Obi, Chief Executive Officer, Techno Oil Ltd. on Tuesday in Lagos. 

    Techno Oil receives ISO certification for quality managementTechno Oil Ltd, a wholly-owned Nigerian integrated energy company,  has received the ISO 9001:2015 certification for its quality management system.

    The certificate was formally presented to Mrs Nkechi Obi, Chief Executive Officer, Techno Oil Ltd. by the Director-General of the Standards Organisation of Nigeria(SON), Malam Farouk Salim, on Tuesday in Lagos.

    Obi said the award was issued as a result of the conformity of the company’s Quality Management System to the requirements of the standard ISO 9001:2015.She said the award followed about two years of rigorous certification assessment by auditors, after which the system was adjudged to have conformed to the requirements of the International standards.

    “The ISO award is a sign of our commitment on how we will go about our business with the best practices.

    “We will continue to implement every step that has been outlined to us. 

    It is a way of life for us and we will continue to improve and abide by the principles of ISO in our operations, “Obi added.

    On his part, Salim, represented by Mr Felix Nyado, Director, Management Systems Certification, SON, said by the achievement, the company had joined a privileged class of Quality Management System certified organisations in Nigeria.

    He said: “This milestone achievement in the pursuit of service excellence is highly commendable and worthy of emulation by all oil and gas, energy, infrastructure and manufacturing companies in Nigeria. 

    “As I join other Nigerians to congratulate you on this milestone achievement, permit me to remind you that the petroleum industry is the hub of the development for Nigeria’s economy and needs to be sustained if the country is to achieve real economic growth and create new jobs.

    “Adoption of the ISO 9001:2015 quality management system framework reflects your vision to deliver quality products to your customers at all times.  

    ” I am confident that this focus on production of quality products will also strengthen your relationship with stakeholders.

    ”Salim noted that the certificate was for a duration of three years which would be subjected to review annually.

    He said that the company must therefore strive to confirm with all the outlined processes in order not to have it withdrawn.

    “I am aware that your products such as Liquefied Petroleum Gas cylinders and lubricants are under our Mandatory Conformity Assessment Programme (MANCAP) and today you are being presented a certificate of conformity to ISO 9001:2015.“You will agree with me that your biggest challenge in this endless journey to excellence will be to consistently direct your efforts towards meeting customer requirements to enhance their satisfaction.

    ” I am sure that this certification to ISO 9001: 2015 will be a launching pad for your organisation,” Salim said.

    The News Agency of Nigeria reports that the  ISO 9001: 2015 is defined as the international standard that specifies requirements for a quality management system (QMS).

    Most organisations use the standard to demonstrate the ability to consistently provide products and services that meet customer and regulatory requirements.

    Also, the ISO 9001:2015 in addition to the above, specifies requirements for a quality system when the organisation aims to enhance customer satisfaction through the effective application of the system.

    These include processes for improvement of the system and the assurance of conformity to customer and applicable statutory and regulatory requirements.

    (www.

    nannews.

    ng)
    NewsSourceCredit: NAN

  •  The Group Managing Director of Access Bank Plc Mr Roosevelt Ogbonna has enjoined corporate entities to embrace technology to stay afloat in the increasingly competitive market place Delivering a keynote address at the unveiling of an app known as Cydene Express in Lagos on Wednesday Ogbonna said that corporate entities failing to keep pace with technology and innovations would go into extinction sooner than later Ogbonna said that technology had caused disruptions in markets across the globe a development he said had resulted to untimely deaths for many corporate entities Globally disruptions have become the order of the day and technology is at the heart of that disruption therefore any entity that fails to shape up will naturally ship out He lauded Mr Skalid Obi the software developer who built the Cydene Express app for inventing a software that would help thousands of Nigerian homes to ensure efficient use of household utilities Mr Obi and his team at Cydene Energy Services have thrown up a challenge to other Nigerian youths to bring change through the creation of innovative technologies and ideas The Access Bank chief described the new app as a value added platform that would give easy access to utilities and services in Nigeria Also speaking the Executive Vice Chairman of Techno Oil Ltd Mrs Nkechi Obi praised the software developer for his tenacity and commitment to bridging the gap in delivering utility services to households She however told the Federal Government and corporate entities to find ways to encourage young Nigerians to embrace innovations and technologies that would contribute to nation growth Earlier Skalid who is also the Chief Executive Officer of Cydene Energy Services said that the company developed Cydene Express to boost the adoption of Liquefied Petroleum Gas LPG among Nigerian households He said that the company was prompted to develop the app to bridge the gap in accessing and paying for household utilities from the comfort of homes At Cydene Energy we have built a socially inclusive app that can accommodate Nigerians With this app Nigerians can now securely purchase utilities while maintaining comfort and maximizing productivity We realised the need to own the management system in other to understand the logistics of delivering services from merchants to consumers He said that with the introduction of the app the Federal Government s effort to boost LPG adoption as cooking fuel via the National LPG Expansion Plan would receive a boost A Director of Cydene Energy Services Mr Sam Ochonma said that the app was also handy in making payments for other utilities such as airtime cable television and electricity bills He explained that users could send money to friends and families to pay for utilities using the app The News Agency of Nigeria reports that up to 10 000 Nigerian households have embraced the app for efficient use of household utilities NewsSourceCredit NAN
    Access Bank chief enjoins companies to embrace technology to stay afloat
     The Group Managing Director of Access Bank Plc Mr Roosevelt Ogbonna has enjoined corporate entities to embrace technology to stay afloat in the increasingly competitive market place Delivering a keynote address at the unveiling of an app known as Cydene Express in Lagos on Wednesday Ogbonna said that corporate entities failing to keep pace with technology and innovations would go into extinction sooner than later Ogbonna said that technology had caused disruptions in markets across the globe a development he said had resulted to untimely deaths for many corporate entities Globally disruptions have become the order of the day and technology is at the heart of that disruption therefore any entity that fails to shape up will naturally ship out He lauded Mr Skalid Obi the software developer who built the Cydene Express app for inventing a software that would help thousands of Nigerian homes to ensure efficient use of household utilities Mr Obi and his team at Cydene Energy Services have thrown up a challenge to other Nigerian youths to bring change through the creation of innovative technologies and ideas The Access Bank chief described the new app as a value added platform that would give easy access to utilities and services in Nigeria Also speaking the Executive Vice Chairman of Techno Oil Ltd Mrs Nkechi Obi praised the software developer for his tenacity and commitment to bridging the gap in delivering utility services to households She however told the Federal Government and corporate entities to find ways to encourage young Nigerians to embrace innovations and technologies that would contribute to nation growth Earlier Skalid who is also the Chief Executive Officer of Cydene Energy Services said that the company developed Cydene Express to boost the adoption of Liquefied Petroleum Gas LPG among Nigerian households He said that the company was prompted to develop the app to bridge the gap in accessing and paying for household utilities from the comfort of homes At Cydene Energy we have built a socially inclusive app that can accommodate Nigerians With this app Nigerians can now securely purchase utilities while maintaining comfort and maximizing productivity We realised the need to own the management system in other to understand the logistics of delivering services from merchants to consumers He said that with the introduction of the app the Federal Government s effort to boost LPG adoption as cooking fuel via the National LPG Expansion Plan would receive a boost A Director of Cydene Energy Services Mr Sam Ochonma said that the app was also handy in making payments for other utilities such as airtime cable television and electricity bills He explained that users could send money to friends and families to pay for utilities using the app The News Agency of Nigeria reports that up to 10 000 Nigerian households have embraced the app for efficient use of household utilities NewsSourceCredit NAN
    Access Bank chief enjoins companies to embrace technology to stay afloat
    General news2 months ago

    Access Bank chief enjoins companies to embrace technology to stay afloat

    The Group Managing Director of Access Bank Plc., Mr Roosevelt Ogbonna, has enjoined corporate entities to embrace technology, to stay afloat in the increasingly competitive market place.

    Delivering a keynote address at the unveiling of an app, known as “Cydene Express’’ in Lagos on Wednesday, Ogbonna said that corporate entities failing to keep pace with technology and innovations would go into extinction sooner than later.

    Ogbonna said that technology had caused disruptions in markets across the globe, a development he said, had resulted to untimely deaths for many corporate entities.

    “Globally, disruptions have become the order of the day and technology is at the heart of that disruption, therefore, any entity that fails to shape up will naturally ship out.

    ’’ He lauded Mr Skalid Obi, the software developer, who built the “Cydene Express’’ app for inventing a software that would help thousands of Nigerian homes to ensure efficient use of household utilities.

    “Mr Obi and his team at Cydene Energy Services have thrown up a challenge to other Nigerian youths to bring change through the creation of innovative technologies and ideas.

    The Access Bank chief described the new app as a value-added platform that would give easy access to utilities and services in Nigeria.

    Also speaking, the Executive Vice-Chairman of Techno Oil Ltd., Mrs Nkechi Obi, praised the software developer for his tenacity and commitment to bridging the gap in delivering utility services to households.

    She, however, told the Federal Government and corporate entities to find ways to encourage young Nigerians to embrace innovations and technologies that would contribute to nation growth.

    Earlier, Skalid, who is also the Chief Executive Officer of Cydene Energy Services, said that the company developed “Cydene Express’’, to boost the adoption of Liquefied Petroleum Gas (LPG) among Nigerian households.

    He said that the company was prompted to develop the app, to bridge the gap in accessing and paying for household utilities from the comfort of homes.

    “At Cydene Energy, we have built a socially inclusive app that can accommodate Nigerians.

    With this app, Nigerians can now securely purchase utilities while maintaining comfort and maximizing productivity.

    “We realised the need to own the management system in other to understand the logistics of delivering services from merchants to consumers.

    ” He said that with the introduction of the app, the Federal Government’s effort to boost LPG adoption as cooking fuel via the National LPG Expansion Plan would receive a boost.

    A Director of Cydene Energy Services, Mr Sam Ochonma, said that the app was also handy in making payments for other utilities such as airtime, cable television and electricity bills.

    He explained that users could send money to friends and families to pay for utilities, using the app.

    The News Agency of Nigeria reports that up to 10,000 Nigerian households have embraced the app for efficient use of household utilities.

    (
    NewsSourceCredit: NAN

  •   NEWS ANALYSIS The Socio Economic Implications of The Downfall of The Naira The Socio Economic Implications of The Downfall of The Naira A News Analysis by Solomon Asowata Lydia Ngwakwe and Rukayat Moisemhe Financial experts say the continuous downfall of the Naira has worsened the living standards of Nigerians and made inflation to rise The experts told the News Agency of Nigeria in separate interviews that if the local currency continued to fall against the dollar it could pose great consequences for the economy A professor of Finance and Capital Market Uche Uwaleke said that the free fall of the Naira was not in the interest of the economy The consequences are grave for the economy The rising inflationary pressure is not unconnected with imported inflation The official exchange rate which is now higher than the 2022 budgeted figure will end up widening the government s budget deficit It will equally increase oil subsidy which may push the economy into deeper debt Again in terms of the naira equivalent of servicing government foreign loans the burden will also increase he said According to Uwaleke the only benefit of naira depreciation is to the Federal Government and the Sub Nationals which naira equivalent of the Federal Accounts Allocation Committee FAAC distribution might increase But of what use is an increase in quantity of money which value is eroded by inflation Naira depreciation ordinarily should help the country s Balance of Payments position through discouraging imports and making exports cheaper Unfortunately this does not happen given Nigeria s weak export base and Nigerians penchant for foreign goods He said that Nigeria needed a strong currency to be able to provide the required leadership in Africa especially in the context of African Continental Free Trade Agreement Sheriffdeen Tella a Professor of Economics Olabisi Onabanjo University Ago Iwoye Ogun said the downfall of the naira was what caused the rising inflation Its what is causing inflation and difficulty in production presently Prolonged situation can affect employment and general welfare of citizens just as it can cause expected global recession arising from the Russian war with Ukraine which will affect Nigeria in no small measure he said Ndubisi Nwokoma the Director of the Centre for Economic Policy Analysis and Research of the University of Lagos Akoka urged the Central Bank of Nigeria CBN to increase the supply of foreign exchange and manage demand The fall of the Naira has had serious socio economic implications for the average Nigerian Inflation has been skyrocketing and living standards getting worse Challenges of insecurity also add to all these he said The downfall of the naira has had a huge impact on the oil and gas industry as well which is critical to the socio economic development of Nigeria The situation is further worsened by the ongoing conflict between Russia and Ukraine with the price of crude oil averaging about 120 dollars per barrel in recent weeks This has led to a rise in the prices of petroleum products such as Jet A1 aviation fuel diesel kerosene Premium Motor Spirit petrol as well as Liquefied Petroleum Gas cooking gas Presently the cost of diesel ranges from N650 to N800 per litre across the country while aviation fuel according to domestic airline operators is selling for between N600 and N700 per litre depending on the location Similarly kerosene is retailing at N650 per litre in some filling stations while a 12 5kg cooking gas cylinder is being sold at between N9 000 to N10 000 to end users According to the Major Oil Marketers Association of Nigeria MOMAN the landing cost of PMS is currently above N400 per litre compelling the Federal Government to spend huge amounts in subsidising the product to retail for N165 per litre Mr Clement Isong the Executive Secretary MOMAN empathised with Nigerians and the government over the challenges being faced as a result of the rising cost of crude and its derivatives at the international market He said lack of access to foreign exchange was one of the reasons for the increment in the retail prices of aviation fuel and diesel Isong also decried the subsidising of petrol by the government with huge funds that could be deployed to other critical areas of the economy such as education health care and infrastructure development A return to cost recovery and free market and competitive economics including access to foreign exchange at competitive rates is inevitable for the sustainability of the production and distribution framework in the petroleum downstream industry he said Mrs Nkechi Obi the Managing Director Techno Gas Ltd also called on the Federal Government to intervene in halting the rising price of cooking gas in the country Obi who made the appeal while speaking during a panel session at the recently concluded Nigerian Content Midstream and Downstream Oil and Gas Conference in Lagos said the product was becoming unaffordable to Nigerians Obi said since marketers were importing over 60 per cent of the LPG consumed in Nigeria it was imperative that the government should make forex available to them at competitive rates Obi said this would reduce the cost of the product and make it affordable for Nigerians who were already returning to using kerosene stoves and firewood for cooking Mr Michael Umudu the National Chairman the Liquefied Petroleum Gas Retailers LPGAR branch of National Union of Petroleum and Natural Gas Workers NUPENG described the situation as worrisome for both retailers and consumers The worrisome aspect of this development is that it has continued to rise on daily basis for weeks now but began to escalate in the last few weeks leading to significant increases in both depots and retail outlets For us as retailers it is a big problem because we can t even afford to stock up our shops and even when we do it will take time before we can make enough sales to get back our investments What we find now is that people even bring in 12 5kg cylinders but opt to fill them with less than 6kg of gas just to manage at home Umudu therefore appealed to the government to create a dedicated forex window for LPG importers to help bring down the cost of cooking gas Dr Muda Yusuf an economist attributed the downfall of the naira to consequences of the CBN fixed exchange rate regime and administrative allocation of foreign exchange Yusuf also founder Centre for the Promotion of Private Enterprises CPPEs said the policies had created a huge enterprise around foreign exchange round tripping speculation over invoicing capital flight among others He said that the action of the apex bank amounted to tackling the symptoms rather than dealing with the causative factors which was not a sustainable solution It is regrettable that the CBN does not believe in the market mechanism yet market systems are time tested as instruments of efficient resource allocation in leading economies around the world Of course market failures are recognised in economics and these cases are exceptions that can be identified and dealt with A market based management framework will restore calmness and stability to the foreign exchange market Although there may be a momentary spike in exchange rate but stability and gradual appreciation of the rate would follow soon after Suppressing the market is like swimming against the tide it is a difficult battle to win he said Yusuf likened moving retail forex transactions from Bureau De Change BDC to the banks to kicking the can down the road stating that the same issues would manifest even with the banks He noted that the BDCs were generally more accessible required minimum documentation had short response time and better interface with the Small and Medium Enterprises and the informal sector the dominant players in the Nigerian economy He said that the way out of this free fall of the Naira was for the CBN to allow the market to function Yusuf said it was also imperative for the apex bank to de emphasise demand management and focus on strategies to stimulate foreign exchange inflows According to him a fixed exchange rate regime is a major disincentive to inflows as it creates enormous pressure of demand for foreign exchange Dr Chinyere Almona the Director General Lagos Chamber of Commerce and Industry LCCI noted that the Naira had recorded unprecedented volatility already in the first quarter of 2022 This she said was due to the widening premium between the official NAFEX rate at N415 per dollar and the market rate of N580 She said that the position of industrialists was for the monetary authorities to liberalise the foreign exchange market by unifying the multiple rates and ensuring that the rates were market driven This Almona posited was critical to the process of enhancing stability liquidity and transparency in the foreign exchange market She said the unification would improve the country s currency management framework given that the multiple exchange rate systems had been creating uncertainty issues and sources of arbitrage The CBN needs to initiate a gradual transition to a unified exchange rate system and allow for a market reflective exchange rate The currency market is still beset with persisting liquidity challenges evidenced in the wide premium between the NAFEX and parallel market rates To consolidate on the interventions earlier initiated the CBN needs to roll out more friendly supply side policies to boost liquidity in the market This would help bolster investor confidence and attract foreign investment inflows into the economy Almona also stressed the need for more deliberate efforts toward making the business environment more conducive for Micro Small and Medium Enterprises MSMEs and large corporates at the national subnational and local government levels are imperative NANFeatures NewsSourceCredit NAN
    NEWS ANALYSIS: The Socio-Economic Implications of The Downfall of The Naira
      NEWS ANALYSIS The Socio Economic Implications of The Downfall of The Naira The Socio Economic Implications of The Downfall of The Naira A News Analysis by Solomon Asowata Lydia Ngwakwe and Rukayat Moisemhe Financial experts say the continuous downfall of the Naira has worsened the living standards of Nigerians and made inflation to rise The experts told the News Agency of Nigeria in separate interviews that if the local currency continued to fall against the dollar it could pose great consequences for the economy A professor of Finance and Capital Market Uche Uwaleke said that the free fall of the Naira was not in the interest of the economy The consequences are grave for the economy The rising inflationary pressure is not unconnected with imported inflation The official exchange rate which is now higher than the 2022 budgeted figure will end up widening the government s budget deficit It will equally increase oil subsidy which may push the economy into deeper debt Again in terms of the naira equivalent of servicing government foreign loans the burden will also increase he said According to Uwaleke the only benefit of naira depreciation is to the Federal Government and the Sub Nationals which naira equivalent of the Federal Accounts Allocation Committee FAAC distribution might increase But of what use is an increase in quantity of money which value is eroded by inflation Naira depreciation ordinarily should help the country s Balance of Payments position through discouraging imports and making exports cheaper Unfortunately this does not happen given Nigeria s weak export base and Nigerians penchant for foreign goods He said that Nigeria needed a strong currency to be able to provide the required leadership in Africa especially in the context of African Continental Free Trade Agreement Sheriffdeen Tella a Professor of Economics Olabisi Onabanjo University Ago Iwoye Ogun said the downfall of the naira was what caused the rising inflation Its what is causing inflation and difficulty in production presently Prolonged situation can affect employment and general welfare of citizens just as it can cause expected global recession arising from the Russian war with Ukraine which will affect Nigeria in no small measure he said Ndubisi Nwokoma the Director of the Centre for Economic Policy Analysis and Research of the University of Lagos Akoka urged the Central Bank of Nigeria CBN to increase the supply of foreign exchange and manage demand The fall of the Naira has had serious socio economic implications for the average Nigerian Inflation has been skyrocketing and living standards getting worse Challenges of insecurity also add to all these he said The downfall of the naira has had a huge impact on the oil and gas industry as well which is critical to the socio economic development of Nigeria The situation is further worsened by the ongoing conflict between Russia and Ukraine with the price of crude oil averaging about 120 dollars per barrel in recent weeks This has led to a rise in the prices of petroleum products such as Jet A1 aviation fuel diesel kerosene Premium Motor Spirit petrol as well as Liquefied Petroleum Gas cooking gas Presently the cost of diesel ranges from N650 to N800 per litre across the country while aviation fuel according to domestic airline operators is selling for between N600 and N700 per litre depending on the location Similarly kerosene is retailing at N650 per litre in some filling stations while a 12 5kg cooking gas cylinder is being sold at between N9 000 to N10 000 to end users According to the Major Oil Marketers Association of Nigeria MOMAN the landing cost of PMS is currently above N400 per litre compelling the Federal Government to spend huge amounts in subsidising the product to retail for N165 per litre Mr Clement Isong the Executive Secretary MOMAN empathised with Nigerians and the government over the challenges being faced as a result of the rising cost of crude and its derivatives at the international market He said lack of access to foreign exchange was one of the reasons for the increment in the retail prices of aviation fuel and diesel Isong also decried the subsidising of petrol by the government with huge funds that could be deployed to other critical areas of the economy such as education health care and infrastructure development A return to cost recovery and free market and competitive economics including access to foreign exchange at competitive rates is inevitable for the sustainability of the production and distribution framework in the petroleum downstream industry he said Mrs Nkechi Obi the Managing Director Techno Gas Ltd also called on the Federal Government to intervene in halting the rising price of cooking gas in the country Obi who made the appeal while speaking during a panel session at the recently concluded Nigerian Content Midstream and Downstream Oil and Gas Conference in Lagos said the product was becoming unaffordable to Nigerians Obi said since marketers were importing over 60 per cent of the LPG consumed in Nigeria it was imperative that the government should make forex available to them at competitive rates Obi said this would reduce the cost of the product and make it affordable for Nigerians who were already returning to using kerosene stoves and firewood for cooking Mr Michael Umudu the National Chairman the Liquefied Petroleum Gas Retailers LPGAR branch of National Union of Petroleum and Natural Gas Workers NUPENG described the situation as worrisome for both retailers and consumers The worrisome aspect of this development is that it has continued to rise on daily basis for weeks now but began to escalate in the last few weeks leading to significant increases in both depots and retail outlets For us as retailers it is a big problem because we can t even afford to stock up our shops and even when we do it will take time before we can make enough sales to get back our investments What we find now is that people even bring in 12 5kg cylinders but opt to fill them with less than 6kg of gas just to manage at home Umudu therefore appealed to the government to create a dedicated forex window for LPG importers to help bring down the cost of cooking gas Dr Muda Yusuf an economist attributed the downfall of the naira to consequences of the CBN fixed exchange rate regime and administrative allocation of foreign exchange Yusuf also founder Centre for the Promotion of Private Enterprises CPPEs said the policies had created a huge enterprise around foreign exchange round tripping speculation over invoicing capital flight among others He said that the action of the apex bank amounted to tackling the symptoms rather than dealing with the causative factors which was not a sustainable solution It is regrettable that the CBN does not believe in the market mechanism yet market systems are time tested as instruments of efficient resource allocation in leading economies around the world Of course market failures are recognised in economics and these cases are exceptions that can be identified and dealt with A market based management framework will restore calmness and stability to the foreign exchange market Although there may be a momentary spike in exchange rate but stability and gradual appreciation of the rate would follow soon after Suppressing the market is like swimming against the tide it is a difficult battle to win he said Yusuf likened moving retail forex transactions from Bureau De Change BDC to the banks to kicking the can down the road stating that the same issues would manifest even with the banks He noted that the BDCs were generally more accessible required minimum documentation had short response time and better interface with the Small and Medium Enterprises and the informal sector the dominant players in the Nigerian economy He said that the way out of this free fall of the Naira was for the CBN to allow the market to function Yusuf said it was also imperative for the apex bank to de emphasise demand management and focus on strategies to stimulate foreign exchange inflows According to him a fixed exchange rate regime is a major disincentive to inflows as it creates enormous pressure of demand for foreign exchange Dr Chinyere Almona the Director General Lagos Chamber of Commerce and Industry LCCI noted that the Naira had recorded unprecedented volatility already in the first quarter of 2022 This she said was due to the widening premium between the official NAFEX rate at N415 per dollar and the market rate of N580 She said that the position of industrialists was for the monetary authorities to liberalise the foreign exchange market by unifying the multiple rates and ensuring that the rates were market driven This Almona posited was critical to the process of enhancing stability liquidity and transparency in the foreign exchange market She said the unification would improve the country s currency management framework given that the multiple exchange rate systems had been creating uncertainty issues and sources of arbitrage The CBN needs to initiate a gradual transition to a unified exchange rate system and allow for a market reflective exchange rate The currency market is still beset with persisting liquidity challenges evidenced in the wide premium between the NAFEX and parallel market rates To consolidate on the interventions earlier initiated the CBN needs to roll out more friendly supply side policies to boost liquidity in the market This would help bolster investor confidence and attract foreign investment inflows into the economy Almona also stressed the need for more deliberate efforts toward making the business environment more conducive for Micro Small and Medium Enterprises MSMEs and large corporates at the national subnational and local government levels are imperative NANFeatures NewsSourceCredit NAN
    NEWS ANALYSIS: The Socio-Economic Implications of The Downfall of The Naira
    Features3 months ago

    NEWS ANALYSIS: The Socio-Economic Implications of The Downfall of The Naira

    NEWS ANALYSIS: The Socio-Economic Implications of The Downfall of The Naira

     

    The Socio-Economic Implications of The Downfall of The Naira: A News Analysis by Solomon Asowata, Lydia Ngwakwe and Rukayat Moisemhe

    Financial experts say the continuous downfall of the Naira has worsened the living standards of Nigerians and made inflation to rise.

    The experts told the News Agency of Nigeria in separate interviews that if the local currency continued to fall against the dollar, it could pose great consequences for the economy.

    A professor of Finance and Capital Market, Uche Uwaleke, said that the free fall of the Naira was not in the interest of the economy.

    “The consequences are grave for the economy. The rising inflationary pressure is not unconnected with imported inflation.

    “The official exchange rate which is now higher than the 2022 budgeted figure will end up widening the government’s budget deficit.

    “It will equally increase oil subsidy, which may push the economy into deeper debt.

    “Again, in terms of the naira equivalent of servicing government foreign loans, the burden will also increase,’’ he said.

    According to Uwaleke, the only benefit of naira depreciation is to the Federal Government and the Sub Nationals which naira equivalent of the Federal Accounts Allocation Committee (FAAC) distribution might increase.

    “But of what use is an increase in quantity of money which value is eroded by inflation?

    “Naira depreciation ordinarily should help the country’s Balance of Payments position through discouraging imports and making exports cheaper.

    “Unfortunately, this does not happen given Nigeria’s weak export base and Nigerians penchant for foreign goods.’’

    He said that Nigeria needed a strong currency to be able to provide the required leadership in Africa, especially in the context of African Continental Free Trade Agreement.

     

    Sheriffdeen Tella, a Professor of Economics, Olabisi Onabanjo University, Ago-Iwoye, Ogun, said the downfall of the naira was what caused the rising inflation.

    “Its what is causing inflation and difficulty in production presently.

    “Prolonged situation can affect employment and general welfare of citizens, just as it can cause expected global recession arising from the Russian war with Ukraine which will affect Nigeria in no small measure,’’ he said.

    Ndubisi Nwokoma, the Director of the Centre for Economic Policy Analysis and Research of the University of Lagos, Akoka, urged the Central Bank of Nigeria (CBN) to increase the supply of foreign exchange and manage demand.

    “The fall of the Naira has had serious socio-economic implications for the average Nigerian. Inflation has been skyrocketing and living standards getting worse. Challenges of insecurity also add to all these,’’ he said.

    The downfall of the naira has had a huge impact on the oil and gas industry as well, which is critical to the socio-economic development of Nigeria.

    The situation is further worsened by the ongoing conflict between Russia and Ukraine with the price of crude oil averaging about 120 dollars per barrel in recent weeks.

    This has led to a rise in the prices of petroleum products such as Jet A1 (aviation fuel) diesel, kerosene, Premium Motor Spirit (petrol) as well as Liquefied Petroleum Gas (cooking gas).

    Presently, the cost of diesel ranges from N650 to N800 per litre across the country, while aviation fuel according to domestic airline operators is selling for between N600 and N700 per litre depending on the location.

     

    Similarly, kerosene is retailing at N650 per litre in some filling stations while a 12.5kg cooking gas cylinder is being sold at between N9,000 to N10,000 to end users.

    According to the Major Oil Marketers Association of Nigeria (MOMAN), the landing cost of PMS is currently above N400 per litre, compelling the Federal Government to spend huge amounts in subsidising the product to retail for N165 per litre.

    Mr Clement Isong, the Executive Secretary, MOMAN, empathised with Nigerians and the government over the challenges being faced as a result of the rising cost of crude and its derivatives at the international market.

    He said lack of access to foreign exchange was one of the reasons for the increment in the retail prices of aviation fuel and diesel.

    Isong also decried the subsidising of petrol by the government with huge funds that could be deployed to other critical areas of the economy such as education, health care and infrastructure development.

    “A return to cost recovery and free market and competitive economics (including access to foreign exchange at competitive rates) is inevitable for the sustainability of the production and distribution framework in the petroleum downstream industry,’’ he said.

    Mrs Nkechi Obi, the Managing Director, Techno Gas Ltd. also called on the Federal Government to intervene in halting the rising price of cooking gas in the country.

    Obi, who made the appeal while speaking during a panel session at the recently concluded Nigerian Content Midstream and Downstream Oil and Gas Conference in Lagos, said the product was becoming unaffordable to Nigerians.

    Obi said since marketers were importing over 60 per cent of the LPG consumed in Nigeria, it was imperative that the government should make forex available to them at competitive rates.

    Obi said this would reduce the cost of the product and make it affordable for Nigerians who were already returning to using kerosene stoves and firewood for cooking.

    Mr Michael Umudu, the National Chairman, the Liquefied Petroleum Gas Retailers (LPGAR) branch of National Union of Petroleum and Natural Gas Workers (NUPENG), described the situation as worrisome for both retailers and consumers.

    “The worrisome aspect of this development is that it has continued to rise on daily basis for weeks now but began to escalate in the last few weeks leading to significant increases in both depots and retail outlets.

    “For us as retailers, it is a big problem because we can’t even afford to stock up our shops and even when we do, it will take time before we can make enough sales to get back our investments.

    “What we find now is that people even bring in 12.5kg cylinders but opt to fill them with less than 6kg of gas just to manage at home.’’

    Umudu, therefore, appealed to the government to create a dedicated forex window for LPG importers to help bring down the cost of cooking gas.

    Dr Muda Yusuf, an economist attributed the downfall of the naira to consequences of the CBN fixed exchange rate regime and administrative allocation of foreign exchange.

    Yusuf, also founder, Centre for the Promotion of Private Enterprises (CPPEs), said the policies had created a huge enterprise around foreign exchange, round tripping, speculation, over invoicing, capital flight among others.

    He said that the action of the apex bank amounted to tackling the symptoms rather than dealing with the causative factors, which was not a sustainable solution.

    “It is regrettable that the CBN does not believe in the market mechanism, yet market systems are time tested as instruments of efficient resource allocation in leading economies around the world.

    “Of course, market failures are recognised in economics, and these cases are exceptions that can be identified and dealt with.

    “A market based management framework will restore calmness and stability to the foreign exchange market.

    “Although, there may be a momentary spike in exchange rate, but stability and gradual appreciation of the rate would follow soon after.

    “Suppressing the market is like swimming against the tide, it is a difficult battle to win,” he said.

    Yusuf likened moving retail forex transactions from Bureau De Change (BDC) to the banks to “kicking the can down the road’’, stating that the same issues would manifest even with the banks.

    He noted that the BDCs were generally more accessible, required minimum documentation, had short response time and better interface with the Small and Medium Enterprises and the informal sector, the dominant players in the Nigerian economy.

    He said that the way out of this free fall of the Naira was for the CBN to allow the market to function.

    Yusuf said it was also imperative for the apex bank to de-emphasise demand management and focus on strategies to stimulate foreign exchange inflows.

    According to him, a fixed exchange rate regime is a major disincentive to inflows as it creates enormous pressure of demand for foreign exchange.

    Dr Chinyere Almona, the Director-General, Lagos Chamber of Commerce and Industry (LCCI), noted that the Naira had recorded unprecedented volatility already in the first quarter of 2022.

    This, she said was due to the widening premium between the official (NAFEX) rate at N415 per dollar and the market rate of N580.

    She said that the position of industrialists was for the monetary authorities to liberalise the foreign exchange market by unifying the multiple rates and ensuring that the rates were market-driven.

    This, Almona posited was critical to the process of enhancing stability, liquidity, and transparency in the foreign exchange market.

    She said the unification would improve the country’s currency management framework given that the multiple exchange rate systems had been creating uncertainty issues and sources of arbitrage.

    “The CBN needs to initiate a gradual transition to a unified exchange rate system and allow for a market reflective exchange rate.

    “The currency market is still beset with persisting liquidity challenges evidenced in the wide premium between the NAFEX and parallel market rates.

    “To consolidate on the interventions earlier initiated, the CBN needs to roll out more friendly supply-side policies to boost liquidity in the market.

    “This would help bolster investor confidence and attract foreign investment inflows into the economy.

    Almona also stressed the need for more deliberate efforts toward making the business environment more conducive for Micro, Small and Medium Enterprises (MSMEs) and large corporates at the national, subnational, and local government levels are imperative. (NANFeatures) (

    NewsSourceCredit: NAN

  •   The Minister of State for Petroleum Resources Chief Timipre Sylva on Wednesday inaugurated the 8 400 Metric Tonnes MT Liquified Petroleum Gas LPG terminal built by Techno Oil in Kirikiri Lagos Inaugurating the gas terminal the minister said that Nigeria had earmarked the year 2020 to be the beginning of the decade of gas This he said is a period in which the national economy was planned for expansion and powering by the abundant natural gas resources of the country Sylva said central to such national aspiration was the deepening of LPG known as cooking gas penetration He said that the deepening was to reach a point whereby both domestic and commercial food cooking was expected to be fueled by LPG The minister said with an LPG cylinder manufacturing plant of five million per annum and commissioning of the 8 400MT automated terminal the company was no doubt set to provide end to end solution in the domestic LPG industry The commissioning of this facility is definitely a good contribution to the two aspirations mentioned above in addition to environment protection job and wealth creation by reducing deforestation and greenhouse emissions and promoting domestic gas value chain development With the inauguration of this facility there are now 12 LPG depots in the country with a total storage capacity of 69 698MT However the Nigerian LPG market is still not saturated there are huge opportunities for further investments in the entire domestic gas value chain These include gas processing transportation and distribution storage retail manufacturing of equipment and provision of services he said Sylva who was represented by Dr Musa Zaki Deputy Director Department of Petroleum Resources DPR commended the company on its great milestone both in its operation and in meeting the national aspiration The Governor of Lagos State Mr Babajide Sanwo olu said gas remains an integral feature in his administration s quest to make Lagos a 21st Century economy Sanwo olu was represented by Mr Olalere Odusote the Commissioner for Energy and Mineral Resources He said that he strongly believed that pivoting Lagos State to a gas powered economy would offer an array of economic and environmental benefits to its residents Developments such as this will help to promote and deepen domestic LPG utilisation across the State consequently reducing the State s carbon footprint and ultimately benefiting the people of Lagos State and Nigeria as a whole As the major economic commercial and financial nerve centre of the federation as well as the fifth largest economy in Africa Lagos State is a major strategic hub for the downstream sector of the oil amp gas industry We are a host to strategically located petroleum product storage facilities and primed for the growth in gas usage Lagos is by far the largest consumer of petroleum and gas products in Nigeria Indeed in establishing this 8 400 ton capacity LPG Coastal Storage Terminal in Lagos TECHNO Oil has made a strategic investment significant step that will accelerate and deepen the growth of LPG to help diversify the economy grow revenue and create jobs he said In her speech Mrs Nkechi Obi the Group Managing Director Chief Executive Officer Techno Oil saidthe terminal commissioned would generate up to 2 000 jobs in the months ahead Obi pleaded with the Federal Government to come to the rescue of Nigerian industrialists in their bid to contribute to the economic growth of the nation We plead with government to provide funding to industrialists in building key facilities such as the one being commissioned Government should consider reactivating its butanization plants and also building new ones across the country to guarantee LPG availability nationwide Similarly it is also time for government to embark on media campaign to sensitize the populace on the benefits of LPG over other cooking fuels More so government agencies and regulatory bodies should enforce the rules to sanitise the space for a safe and profitable business environment We remain thankful to the Lagos State government for being a worthy host by providing the much appreciated conducive environment for our business to thrive This is yet another of our numerous projects that is being hosted in Lagos we thank you from the bottom of our heart Last year our five million annual cylinder plant was commissioned by the Vice President Prof Yemi Osibanjo she said Edited By Oluwole Sogunle Source NAN
    Sylva inaugurates Techno Oil 8,400MT LPG terminal in Lagos
      The Minister of State for Petroleum Resources Chief Timipre Sylva on Wednesday inaugurated the 8 400 Metric Tonnes MT Liquified Petroleum Gas LPG terminal built by Techno Oil in Kirikiri Lagos Inaugurating the gas terminal the minister said that Nigeria had earmarked the year 2020 to be the beginning of the decade of gas This he said is a period in which the national economy was planned for expansion and powering by the abundant natural gas resources of the country Sylva said central to such national aspiration was the deepening of LPG known as cooking gas penetration He said that the deepening was to reach a point whereby both domestic and commercial food cooking was expected to be fueled by LPG The minister said with an LPG cylinder manufacturing plant of five million per annum and commissioning of the 8 400MT automated terminal the company was no doubt set to provide end to end solution in the domestic LPG industry The commissioning of this facility is definitely a good contribution to the two aspirations mentioned above in addition to environment protection job and wealth creation by reducing deforestation and greenhouse emissions and promoting domestic gas value chain development With the inauguration of this facility there are now 12 LPG depots in the country with a total storage capacity of 69 698MT However the Nigerian LPG market is still not saturated there are huge opportunities for further investments in the entire domestic gas value chain These include gas processing transportation and distribution storage retail manufacturing of equipment and provision of services he said Sylva who was represented by Dr Musa Zaki Deputy Director Department of Petroleum Resources DPR commended the company on its great milestone both in its operation and in meeting the national aspiration The Governor of Lagos State Mr Babajide Sanwo olu said gas remains an integral feature in his administration s quest to make Lagos a 21st Century economy Sanwo olu was represented by Mr Olalere Odusote the Commissioner for Energy and Mineral Resources He said that he strongly believed that pivoting Lagos State to a gas powered economy would offer an array of economic and environmental benefits to its residents Developments such as this will help to promote and deepen domestic LPG utilisation across the State consequently reducing the State s carbon footprint and ultimately benefiting the people of Lagos State and Nigeria as a whole As the major economic commercial and financial nerve centre of the federation as well as the fifth largest economy in Africa Lagos State is a major strategic hub for the downstream sector of the oil amp gas industry We are a host to strategically located petroleum product storage facilities and primed for the growth in gas usage Lagos is by far the largest consumer of petroleum and gas products in Nigeria Indeed in establishing this 8 400 ton capacity LPG Coastal Storage Terminal in Lagos TECHNO Oil has made a strategic investment significant step that will accelerate and deepen the growth of LPG to help diversify the economy grow revenue and create jobs he said In her speech Mrs Nkechi Obi the Group Managing Director Chief Executive Officer Techno Oil saidthe terminal commissioned would generate up to 2 000 jobs in the months ahead Obi pleaded with the Federal Government to come to the rescue of Nigerian industrialists in their bid to contribute to the economic growth of the nation We plead with government to provide funding to industrialists in building key facilities such as the one being commissioned Government should consider reactivating its butanization plants and also building new ones across the country to guarantee LPG availability nationwide Similarly it is also time for government to embark on media campaign to sensitize the populace on the benefits of LPG over other cooking fuels More so government agencies and regulatory bodies should enforce the rules to sanitise the space for a safe and profitable business environment We remain thankful to the Lagos State government for being a worthy host by providing the much appreciated conducive environment for our business to thrive This is yet another of our numerous projects that is being hosted in Lagos we thank you from the bottom of our heart Last year our five million annual cylinder plant was commissioned by the Vice President Prof Yemi Osibanjo she said Edited By Oluwole Sogunle Source NAN
    Sylva inaugurates Techno Oil 8,400MT LPG terminal in Lagos
    Oil & Gas2 years ago

    Sylva inaugurates Techno Oil 8,400MT LPG terminal in Lagos

    The Minister of State for Petroleum Resources, Chief Timipre Sylva, on Wednesday inaugurated the 8,400 Metric Tonnes (MT) Liquified Petroleum Gas (LPG)  terminal built by Techno Oil in Kirikiri, Lagos.

    Inaugurating the gas terminal, the minister said that Nigeria had earmarked the year 2020 to be the beginning of the decade of gas.

    This, he said, is a period in which the national economy was planned for expansion and powering by the abundant natural gas resources of the country.

    Sylva said central to such national aspiration was the deepening of LPG, known as cooking gas, penetration.

    He said that the deepening was to reach a point whereby both domestic and commercial food cooking was expected to be fueled by LPG.

    The minister said with an LPG cylinder manufacturing plant of five million per annum and commissioning of the 8,400MT automated terminal, the company was no doubt set to provide end to end solution in the domestic LPG industry.

    “The commissioning of this facility is definitely a good contribution to the two aspirations mentioned above in addition to environment protection, job and wealth creation by reducing deforestation and greenhouse emissions and promoting domestic gas value chain development.

    “With the inauguration of this facility, there are now 12 LPG depots in the country, with a total storage capacity of 69,698MT.

    “However, the Nigerian LPG market is still not saturated, there are huge opportunities for further investments in the entire domestic gas value chain.

    “These include gas processing, transportation and distribution, storage, retail, manufacturing of equipment and provision of services,” he said.

    Sylva, who was represented by  Dr Musa Zaki, Deputy Director, Department of Petroleum Resources (DPR), commended the company on its great milestone, both in its operation and in meeting the national aspiration.

    The Governor of Lagos State, Mr Babajide Sanwo-olu, said gas remains an integral feature in his administration’s quest to make Lagos a 21st Century economy.

    Sanwo-olu was represented  by Mr Olalere Odusote, the Commissioner for Energy and Mineral Resources.

    He said that he strongly believed that pivoting Lagos State to a gas-powered economy would offer an array of economic and environmental benefits to its residents.

    “Developments such as this will help to promote and deepen domestic LPG utilisation across the State, consequently reducing the State’s carbon footprint and ultimately benefiting the people of Lagos State and Nigeria as a whole.

    “As the major economic, commercial, and financial nerve centre of the federation, as well as the fifth largest economy in Africa, Lagos State is a major strategic hub for the downstream sector of the oil & gas industry.

    “We are a host to strategically located petroleum product storage facilities and primed for the growth in gas usage.

    “Lagos is by far the largest consumer of petroleum and gas products in Nigeria.

    “Indeed, in establishing this 8,400-ton capacity LPG Coastal Storage Terminal in Lagos, TECHNO Oil has made a strategic investment, significant step that will accelerate and deepen the growth of LPG to help diversify the economy, grow revenue and create jobs,” he said.

    In her speech, Mrs Nkechi Obi, the Group Managing Director/ Chief Executive Officer, Techno Oil, said

    the terminal commissioned would  generate up to 2,000 jobs in the months ahead.

    Obi pleaded with the Federal Government to come to the rescue of Nigerian industrialists in their bid to contribute to the economic growth of the nation.

    “We plead with government to provide funding to industrialists in building key facilities such as the one being commissioned.

    “Government should consider reactivating its butanization plants and also building new ones across the country to guarantee LPG availability nationwide.

    “Similarly, it is also time for government to embark on media campaign to sensitize the populace on the benefits of LPG over other cooking fuels.

    “More so, government agencies and regulatory bodies should enforce the rules to sanitise the space for a safe and profitable business environment.

    “We remain thankful to the Lagos State government for being a worthy host by providing the much appreciated conducive environment for our business to thrive.

    “This is yet another of our numerous projects that is being hosted in Lagos; we thank you from the bottom of our heart.

    “Last year, our five million annual cylinder plant was commissioned by the Vice President, Prof Yemi Osibanjo,” she said.


    Edited By: Oluwole Sogunle
    Source: NAN

  •  The Standard Organisation of Nigeria SON on Monday presented its Mandatory Conformity Assessment Programme MANCAP Certificate to Nigeria s pioneer cooking gas cylinder manufacturers TechnoGas Liquefied Petroleum Gas LPG The certificate was presented by Mrs Nwaoma Olujie State Coordinator SON Lagos State Office 1 to Mrs Nkechi Obi Executive Vice Chairman of Techno Oil Ltd at a ceremony at the company s headquarters in Lagos The News Agency of Nigeria reports that MANCAP is a mandatory product certification scheme put in place by SON It is aimed at ensuring that all locally manufactured products in the country conform to the relevant Nigerian Industrial Standards NIS before such products are presented for sale in the market or exported Speaking at the ceremony Obi said TechnoGas LPG cylinder started full production in June 2019 when its plant in Kajola Lagos State was inaugurated by Vice President Yemi Osinbajo She said the plant had the capacity to produce over five million pieces of high quality LPG cylinder annually adding that the plant produces various sizes of LPG cylinders ranging from 6kg to 12 5kg among others Obi said the company was committed to deepening the LPG adoption in Nigeria and switching households from the use of firewood or kerosene to the use of LPG which was safer cleaner healthier and cheaper source of domestic energy According to her Techno Oil has sought the guidance of SON on equipment and machinery specification that would guarantee the production of quality LPG cylinders capable of competing anywhere in the world This strategic collaboration with SON became stronger year on year until date and the outcome is the reason why we are gathered here today to witness the presentation of TechnoGas LPG cylinder MANCAP Certificate As a company Techno Oil will continue to uphold practices that would engender the production of quality products while making compliance to every established regulatory standards and procedures our anchor she said Earlier Olujie congratulated the management and staff of Techno Oil Nigeria for the milestone achievement of obtaining a certificate of conformity for the LPG steel cylinders She said Today is remarkable in the history of Techno Oil Nigeria because you have joined the league of companies that have MANCAP certificates for their products This award is given to companies that have distinguished themselves in their various manufacturing and production categories She explained that the programme started in 2006 and ensures compliance of Made in Nigeria products to the minimum requirements of the Nigerian Industrial Standards NIS or Code of practice Olujie said this promotes fair competition at both domestic and international markets as well as safeguarding the safety and health of consumers in the overall interest of promoting economic and industrial development of Nigeria She said the company s gas cylinders had successfully passed the rigorous certification procedures which involved inspection of production processes as well as testing of the products against the NIS to confirm to compliance You are to note that the MANCAP certificate will be valid for three years during which your certified products will be monitored for consistent compliance to the relevant NIS under surveillance inspection after which your products will be re certified It is important to note that LPG cylinders are classified as life endangering products and compliance to standards is mandatory Your certificate will be withdrawn if during surveillance inspections your certified products consistently failed to meet the requirements of the standards and effective corrective actions are not taken to produce quality cylinders thereby putting the lives of Nigerians at risk It is my candid hope that the management and staff of Techno Oil will uphold the quality of the certified products and ensure that these products are traded both locally and internationally Olujie added Edited By Tayo Ikujuni Peter Ejiofor Source NAN
    TechnoGas LPG Cylinder gets SON’s MANCAP certificate
     The Standard Organisation of Nigeria SON on Monday presented its Mandatory Conformity Assessment Programme MANCAP Certificate to Nigeria s pioneer cooking gas cylinder manufacturers TechnoGas Liquefied Petroleum Gas LPG The certificate was presented by Mrs Nwaoma Olujie State Coordinator SON Lagos State Office 1 to Mrs Nkechi Obi Executive Vice Chairman of Techno Oil Ltd at a ceremony at the company s headquarters in Lagos The News Agency of Nigeria reports that MANCAP is a mandatory product certification scheme put in place by SON It is aimed at ensuring that all locally manufactured products in the country conform to the relevant Nigerian Industrial Standards NIS before such products are presented for sale in the market or exported Speaking at the ceremony Obi said TechnoGas LPG cylinder started full production in June 2019 when its plant in Kajola Lagos State was inaugurated by Vice President Yemi Osinbajo She said the plant had the capacity to produce over five million pieces of high quality LPG cylinder annually adding that the plant produces various sizes of LPG cylinders ranging from 6kg to 12 5kg among others Obi said the company was committed to deepening the LPG adoption in Nigeria and switching households from the use of firewood or kerosene to the use of LPG which was safer cleaner healthier and cheaper source of domestic energy According to her Techno Oil has sought the guidance of SON on equipment and machinery specification that would guarantee the production of quality LPG cylinders capable of competing anywhere in the world This strategic collaboration with SON became stronger year on year until date and the outcome is the reason why we are gathered here today to witness the presentation of TechnoGas LPG cylinder MANCAP Certificate As a company Techno Oil will continue to uphold practices that would engender the production of quality products while making compliance to every established regulatory standards and procedures our anchor she said Earlier Olujie congratulated the management and staff of Techno Oil Nigeria for the milestone achievement of obtaining a certificate of conformity for the LPG steel cylinders She said Today is remarkable in the history of Techno Oil Nigeria because you have joined the league of companies that have MANCAP certificates for their products This award is given to companies that have distinguished themselves in their various manufacturing and production categories She explained that the programme started in 2006 and ensures compliance of Made in Nigeria products to the minimum requirements of the Nigerian Industrial Standards NIS or Code of practice Olujie said this promotes fair competition at both domestic and international markets as well as safeguarding the safety and health of consumers in the overall interest of promoting economic and industrial development of Nigeria She said the company s gas cylinders had successfully passed the rigorous certification procedures which involved inspection of production processes as well as testing of the products against the NIS to confirm to compliance You are to note that the MANCAP certificate will be valid for three years during which your certified products will be monitored for consistent compliance to the relevant NIS under surveillance inspection after which your products will be re certified It is important to note that LPG cylinders are classified as life endangering products and compliance to standards is mandatory Your certificate will be withdrawn if during surveillance inspections your certified products consistently failed to meet the requirements of the standards and effective corrective actions are not taken to produce quality cylinders thereby putting the lives of Nigerians at risk It is my candid hope that the management and staff of Techno Oil will uphold the quality of the certified products and ensure that these products are traded both locally and internationally Olujie added Edited By Tayo Ikujuni Peter Ejiofor Source NAN
    TechnoGas LPG Cylinder gets SON’s MANCAP certificate
    Oil & Gas2 years ago

    TechnoGas LPG Cylinder gets SON’s MANCAP certificate

    The Standard Organisation of Nigeria (SON) on Monday presented its Mandatory Conformity Assessment Programme (MANCAP) Certificate to Nigeria’s pioneer cooking gas cylinder manufacturers, TechnoGas Liquefied Petroleum Gas (LPG).

    The certificate was presented by Mrs Nwaoma Olujie, State Coordinator, SON, Lagos State Office 1, to Mrs Nkechi Obi, Executive Vice-Chairman of Techno Oil Ltd, at a ceremony at the company’s headquarters in Lagos.

    The News Agency of Nigeria reports that MANCAP is a mandatory product certification scheme put in place by SON.

    It is aimed at ensuring that all locally manufactured products in the country conform to the relevant Nigerian Industrial Standards (NIS) before such products are presented for sale in the market or exported.

    Speaking at the ceremony, Obi said TechnoGas LPG cylinder started full production in June 2019 when its plant in Kajola, Lagos State, was inaugurated by Vice-President Yemi Osinbajo.

    She said the plant had the capacity to produce over five million pieces of high quality LPG cylinder annually, adding that the plant produces various sizes of LPG cylinders ranging from 6kg to 12.5kg among others.

    Obi said the company was committed to deepening the LPG adoption in Nigeria and switching households from the use of firewood or kerosene to the use of LPG which was safer, cleaner, healthier and cheaper source of domestic energy.

    According to her, Techno Oil has sought the guidance of SON on equipment and machinery specification that would guarantee the production of quality LPG cylinders capable of competing anywhere in the world.

    “This strategic collaboration with SON became stronger year on year until date, and the outcome is the reason why we are gathered here today to witness the presentation of TechnoGas LPG cylinder MANCAP Certificate.

    “As a company, Techno Oil will continue to uphold practices that would engender the production of quality products, while making compliance to every established regulatory standards and procedures our anchor,” she said.

    Earlier, Olujie congratulated the management and staff of Techno Oil Nigeria for the milestone achievement of obtaining a certificate of conformity for the LPG steel cylinders.

    She said: “Today is remarkable in the history of Techno Oil Nigeria because you have joined the league of companies that have MANCAP certificates for their products.

    “This award is given to companies that have distinguished themselves in their various manufacturing and production categories.”

    She explained that the programme started in 2006 and ensures compliance of Made-in-Nigeria products to the minimum requirements of the Nigerian Industrial Standards (NIS) or Code of practice.

    Olujie said this promotes fair competition at both domestic and international markets, as well as safeguarding the safety and health of consumers in the overall interest of promoting economic and industrial development of Nigeria.

    She said the company’s gas cylinders had successfully passed the rigorous certification procedures which involved inspection of production processes as well as testing of the products against the NIS to confirm to compliance.

    “You are to note that the MANCAP certificate will be valid for three years during which your certified products will be monitored for consistent compliance to the relevant NIS under surveillance inspection after which your products will be re-certified.

    “It is important to note that LPG cylinders are classified as life endangering products and compliance to standards is mandatory.

    “Your certificate will be withdrawn if during surveillance inspections, your certified products consistently failed to meet the requirements of the standards and effective corrective actions are not taken to produce quality cylinders thereby putting the lives of Nigerians at risk.

    “It is my candid hope that the management and staff of Techno Oil will uphold the quality of the certified products and ensure that these products are traded both locally and internationally,” Olujie added.

    (
    Edited By: Tayo Ikujuni/Peter Ejiofor)
    Source: NAN

  •  An industrialist Mrs Nkechi Obi says that presiding over a company that makes affordable safe and strong cooking gas cylinders for West African markets is her greatest source of happiness playing in the Nigerian oil and gas sector Obi who is the Executive Vice Chairman of Techno Oil Ltd a leading indigenous company made the statement in an interview with newsmen on Friday in Lagos She was speaking as part of activities to mark the third anniversary of the inauguration of Techno Oil Liquefied Petroleum Gas LPG manufacturing plant which was unveiled by Vice President Prof Yemi Osinbajo on June 7 2017 I m excited to say that it is a dream come true Our story is all about the making of the safest cooking gas cylinders in Nigeria She said it was a thing of joy that top grade cylinders were now being made in Nigeria by Nigerians for Nigerians and making the difference steadily for the nation s economy It is a thing of pride that cooking gas cylinders are now being made in Nigeria rather than for consumers to continue to rely on fake imported cylinders Where there is a will there is always a way We are happy to be counted in the Federal Government s effort to deepen LPG usage in Nigeria We know that Nigeria is getting there with the way things have turned out in the LPG cylinder sub sector of the economy in recent years The commissioning of our manufacturing plant three years ago has turned out to be the game changer in the LPG cylinder sector she noted The industrialist assured that her company would continue to roll out strong safe and reliable LPG cylinders to meet the needs of users Obi noted however that she was still worried over what she described as unbridled importation of fake and sub standard cylinders into Nigeria She said that government should take a decisive action to save the populace from the effects of importation of fake products especially LPG cylinders The LPG advocate also expressed her optimism that the target of the Federal Government to ensure that up to 13 8 million households embraced LPG for their cooking within the next two years would still be realised She restated her position on the need for government to challenge countries that had been dumping fake cylinders in Nigeria saying that the development had been hurting the Nigerian economy Obi charged the Nigerian Customs Service Standards Organisation of Nigeria and the Department of Petroleum Resources to introduce measures to stop importation of fake LPG cylinders The Techno Oil chief argued that dominance of fake LPG cylinders in the market was discouraging many homes from embracing cooking gas a development she said was affecting the nation s LPG penetration drive Obi restated that in spite of the fact that Nigeria had more gas than oil the nation had failed to exploit its gas resources optimally resulting to more homes using fire wood and other unviable energy sources We have always recommended that government should give and sustain incentives including tax holidays to cylinder manufacturing companies to make cylinders more affordable and available for everyone Edited By Silas Nwoha NAN
    Making strong, safe LPG cylinders locally, my greatest joy, says industrialist
     An industrialist Mrs Nkechi Obi says that presiding over a company that makes affordable safe and strong cooking gas cylinders for West African markets is her greatest source of happiness playing in the Nigerian oil and gas sector Obi who is the Executive Vice Chairman of Techno Oil Ltd a leading indigenous company made the statement in an interview with newsmen on Friday in Lagos She was speaking as part of activities to mark the third anniversary of the inauguration of Techno Oil Liquefied Petroleum Gas LPG manufacturing plant which was unveiled by Vice President Prof Yemi Osinbajo on June 7 2017 I m excited to say that it is a dream come true Our story is all about the making of the safest cooking gas cylinders in Nigeria She said it was a thing of joy that top grade cylinders were now being made in Nigeria by Nigerians for Nigerians and making the difference steadily for the nation s economy It is a thing of pride that cooking gas cylinders are now being made in Nigeria rather than for consumers to continue to rely on fake imported cylinders Where there is a will there is always a way We are happy to be counted in the Federal Government s effort to deepen LPG usage in Nigeria We know that Nigeria is getting there with the way things have turned out in the LPG cylinder sub sector of the economy in recent years The commissioning of our manufacturing plant three years ago has turned out to be the game changer in the LPG cylinder sector she noted The industrialist assured that her company would continue to roll out strong safe and reliable LPG cylinders to meet the needs of users Obi noted however that she was still worried over what she described as unbridled importation of fake and sub standard cylinders into Nigeria She said that government should take a decisive action to save the populace from the effects of importation of fake products especially LPG cylinders The LPG advocate also expressed her optimism that the target of the Federal Government to ensure that up to 13 8 million households embraced LPG for their cooking within the next two years would still be realised She restated her position on the need for government to challenge countries that had been dumping fake cylinders in Nigeria saying that the development had been hurting the Nigerian economy Obi charged the Nigerian Customs Service Standards Organisation of Nigeria and the Department of Petroleum Resources to introduce measures to stop importation of fake LPG cylinders The Techno Oil chief argued that dominance of fake LPG cylinders in the market was discouraging many homes from embracing cooking gas a development she said was affecting the nation s LPG penetration drive Obi restated that in spite of the fact that Nigeria had more gas than oil the nation had failed to exploit its gas resources optimally resulting to more homes using fire wood and other unviable energy sources We have always recommended that government should give and sustain incentives including tax holidays to cylinder manufacturing companies to make cylinders more affordable and available for everyone Edited By Silas Nwoha NAN
    Making strong, safe LPG cylinders locally, my greatest joy, says industrialist
    Oil & Gas2 years ago

    Making strong, safe LPG cylinders locally, my greatest joy, says industrialist

    An industrialist, Mrs Nkechi Obi, says that presiding over a company that makes affordable, safe and strong cooking gas cylinders for West African markets is her greatest source of happiness, playing in the Nigerian oil and gas sector.

    Obi, who is the Executive Vice-Chairman of Techno Oil Ltd., a leading indigenous company made the statement in an interview with newsmen on Friday in Lagos.

    She was speaking as part of activities to mark the third anniversary of the inauguration of Techno Oil Liquefied Petroleum Gas (LPG) manufacturing plant, which was unveiled by Vice-President Prof. Yemi Osinbajo on June 7, 2017.

    “I’m excited to say that it is a dream come true. Our story is all about the making of the safest cooking gas cylinders in Nigeria.’’

    She said it was a thing of joy that top grade cylinders were now being made in Nigeria by Nigerians for Nigerians and making the difference steadily for the nation’s economy.

    “It is a thing of pride that cooking gas cylinders are now being made in Nigeria, rather than for consumers to continue to rely on fake imported cylinders.

    “Where there is a will, there is always a way. We are happy to be counted in the Federal Government’s effort to deepen LPG usage in Nigeria.

    “We know that Nigeria is getting there with the way things have turned out in the LPG cylinder sub-sector of the economy in recent years.

    “The commissioning of our manufacturing plant three years ago has turned out to be the game-changer in the LPG cylinder sector,’’ she noted.

    The industrialist assured that her company would continue to roll out strong, safe and reliable LPG cylinders to meet the needs of users.

    Obi noted, however, that she was still worried over what she described as unbridled importation of fake and sub-standard cylinders into Nigeria.

    She said that government should take a decisive action to save the populace from the effects of importation of fake products, especially LPG cylinders.

    The LPG advocate also expressed her optimism that the target of the Federal Government to ensure that up to 13.8 million households embraced LPG for their cooking within the next two years would still be realised.

    She restated her position on the need for government to challenge countries that had been dumping fake cylinders in Nigeria, saying that the development had been hurting the Nigerian economy.

    Obi charged the Nigerian Customs Service, Standards Organisation of Nigeria and the Department of Petroleum Resources to introduce measures to stop importation of fake LPG cylinders.

    The Techno Oil chief argued that dominance of fake LPG cylinders in the market was discouraging many homes from embracing cooking gas, a development she said, was affecting the nation’s LPG penetration drive.

    Obi restated that in spite of the fact that Nigeria had more gas than oil, the nation had failed to exploit its gas resources optimally, resulting to more homes using fire wood and other unviable energy sources.

    “We have always recommended that government should give and sustain incentives, including tax holidays to cylinder manufacturing companies, to make cylinders more affordable and available for everyone.’’


    Edited By: Silas Nwoha (NAN)

     

     

     

     

     

     

     

  •  Regulating gas plants locations to reduce explosions By Edith Ike Eboh Nigerian News Agency The Jan 4 gas explosion which occurred on Kachia Road Sabon Tasha Chikun Local Government Area of Kaduna State killed about six people including the Director General Nigeria Atomic Energy Commission Prof Simon Mallam The explosion also left several people injured The incident recorded high casualty because the facility is located in a residential and high population density area A brief review showed that several incidences of gas explosions occurred in the country in 2019 while Lagos State was the most affected In March there was gas explosion at Babs Animashun in front of Census Market Surulere Also in July gas pipeline explosion killed two people and many injured all in Lagos State In October no fewer than 11 persons in Abuja suffered various degrees of burns from a gas explosion A month earlier in Lafia Nasarawa State dozens were left dead with hundreds injured when a gas tanker exploded and caught fire Today cooking gas is widely used by the womenfolk because of its energy efficiency while kitchens are gradually becoming the den of deaths due to the number of deaths caused by explosions of cooking gas cylinders Currently the Federal Government through the Ministry of Petroleum Resources declared Nigeria a gas nation and is working out modalities to ensure use of gas for economic development and penetration of Liquefied Petroleum Gas LPG also known as cooking gas Experts attributed the major cause of gas explosion in the country to poor awareness on use of LPG and illegal locations of most gas plants They pointed out that a lot of fake cylinders were in circulation and stressed the need to educate Nigerians on how to identify a fake or expired cylinder They are of the opinion that penetration of LPG was a step in the right direction but effort must be made to educate Nigerians on best use of LPG to avoid explosion They challenged the Department of Petroleum Resources DPR to be proactive and ensure that gas plants are built in safe places Mr Tunde Ishmael an energy expert said that most Nigerians patronise illegal gas sellers because of closeness It will be tough for government to get these illegal gas sellers out of the streets because most of them are making their living from the business What the DPR needs to do now is to go round the streets and take statistics of people doing this business and find a way to relocate them to the right locations If government wants real penetration of LPG there is a lot of work in their hands awareness should be key I have not seen them doing this he said A former National Coordinator of Women in LPG Group Mrs Nkechi Obi said that bringing fake cylinders into the country is like bringing explosives into homes which can be deadly The monster called corruption is responsible for those cylinders that found their way into Nigeria without foreign certification What do we say of the officials who cleared such goods She queried But the DPR through its spokesman Mr Paul Osu revealed that the gas explosion in Kaduna was caused by illegal decanting transfer of LPG into another cylinder by operators of the facility To avoid repeat of such incident in the state and other areas the Kaduna State Environmental Authority in collaboration with DPR ordered the immediate closure of about 87 illegal gas outlets in the state Jibrin Lawal General Manager of the agency said the closure was in line with Gov Nasir El Rufai s directive adding that the sealing of gas outlets will be a continuous process According to him gas refilling is a high risk activity that should not be allowed close to residential areas Also the Director General Standard Organisation of Nigeria SON Mr Osita Aboloma said the organisation would prosecute importers manufacturers and distributors of substandard LPG cylinders and other products as provided by law This he said would serve as deterrent to others and help to ensure safety measures in the country However Mr Saidu Mohammed the DPR Head of Public Affairs Abuja insisted that the DPR had always been proactive in ensuring safety of Nigerians especially when it comes to location of gas plants or petrol stations He said It is unfortunate that we continue to witness gas explosions in the country The DPR from time to time engages with stakeholders and educate them on best practices We always go round the vicinity to clamp down on illegal gas plants in Abuja we do that almost every quarter we have gone to all corners of Abuja to clamp down on skids and illegal gas plants Most of the people we got were arrested by the men of the Nigerian Security and Civil Defence Corp NSCDC and this is done across the whole country We have informed Nigerians to go to any DPR office and report anybody building a gas plant close to their homes and we also have designate mobile numbers to contact in all the states in the country He further noted that DPR would continue to support government s effort to ensure LPG penetration in the country Also Mr Bassey Nkanga DPR s Head of Port Harcourt Operations stated that the DPR was also engaging owners of filling stations and other stakeholders to stop the sale of LPG in cylinders to customers He noted that the Federal Government was planning to end the unwholesome practice in 2020 due to the attendant risks it posed to lives property and the environment We are telling the filling stations that it is risky for people to carry cylinders to buy LPG from their facilities So government is planning to phase it out in 2020 We want filling stations to also have auto gas add on plant inside their facility so that those whose vehicle uses gas as fuel can drive in and buy rather than in cylinders he said Nkanga explained that auto gas filling stations are filling stations that do not sell petrol kerosene and diesel but only sell gas to vehicle owners He said the Federal Government was passionate about ensuring LPG utilisation as well as making available quality and standard cylinders to Nigerians at affordable prices According to him DPR is providing the necessary support to stakeholders to ensure that LPG becomes accessible to Nigerians in line with government policies on LPG utilisation Former Minister of State for Petroleum Resources Ibe Kachikwu had reiterated that the Federal Government was working assiduously to ensure installation of gas filling plants in each of the 774 local government areas in the country Kachikwu spoke at the inauguration of the Nigerian Army Welfare Gas Plant at Mambilla Barracks Abuja He said We are working with LPG companies producing cylinders with very strong presidentially backed incentives to enable them to produce LPG cylinders in this country About four of them are getting facilities from the Nigerian Content Development Monitoring Board NCDMB from the more than 200 million facilities we have They are getting import exemption for materials to be assembled for the plants Once you do that you also expect them to assemble them around the more than 700 local government areas in the country We are targeting that in the next one or two years every local government area will have gas filling plant He added that cylinders produced by the companies would be distributed free to consumers as part of efforts at encouraging local consumption in the country Emphasing on what the minister said Ms Brenda Ataga Kachikwu s Special Adviser on Gas disclosed that the Federal Government planned to inject 600 000 gas cylinders to support efforts to boost LPG penetration in the country She said that there were about 386 000 micro distribution centres across the country with few licenses issued She said that the government would come up with a policy that would remove the ownership of LPG cylinders from consumers Also Mr Simbi Wabote Executive Secretary of NCDMB said the board would focus on gas value chain LPG cylinders and offload plant projects He said that establishing such in Nigeria would help to reverse an estimated capital flight of 360 million dollars per annum associated with production outside the country But some of the roadside sellers of LPG said that they were unaware of some of the government policies but assured of readiness to do anything to ensure they were not out of business One of them who identified himself simply as Udoka said We are doing everything that the DPR said we should do we have joined the union we are working out best ways to go about it Most of us are bread winners in our various homes and will not want our families to suffer If government policies are well implemented and the regulators effectively perform their roles LPG penetration would be achieved and incidences of gas explosions reduced to the barest minimum
    Regulating  gas plants’ locations to reduce explosions 
     Regulating gas plants locations to reduce explosions By Edith Ike Eboh Nigerian News Agency The Jan 4 gas explosion which occurred on Kachia Road Sabon Tasha Chikun Local Government Area of Kaduna State killed about six people including the Director General Nigeria Atomic Energy Commission Prof Simon Mallam The explosion also left several people injured The incident recorded high casualty because the facility is located in a residential and high population density area A brief review showed that several incidences of gas explosions occurred in the country in 2019 while Lagos State was the most affected In March there was gas explosion at Babs Animashun in front of Census Market Surulere Also in July gas pipeline explosion killed two people and many injured all in Lagos State In October no fewer than 11 persons in Abuja suffered various degrees of burns from a gas explosion A month earlier in Lafia Nasarawa State dozens were left dead with hundreds injured when a gas tanker exploded and caught fire Today cooking gas is widely used by the womenfolk because of its energy efficiency while kitchens are gradually becoming the den of deaths due to the number of deaths caused by explosions of cooking gas cylinders Currently the Federal Government through the Ministry of Petroleum Resources declared Nigeria a gas nation and is working out modalities to ensure use of gas for economic development and penetration of Liquefied Petroleum Gas LPG also known as cooking gas Experts attributed the major cause of gas explosion in the country to poor awareness on use of LPG and illegal locations of most gas plants They pointed out that a lot of fake cylinders were in circulation and stressed the need to educate Nigerians on how to identify a fake or expired cylinder They are of the opinion that penetration of LPG was a step in the right direction but effort must be made to educate Nigerians on best use of LPG to avoid explosion They challenged the Department of Petroleum Resources DPR to be proactive and ensure that gas plants are built in safe places Mr Tunde Ishmael an energy expert said that most Nigerians patronise illegal gas sellers because of closeness It will be tough for government to get these illegal gas sellers out of the streets because most of them are making their living from the business What the DPR needs to do now is to go round the streets and take statistics of people doing this business and find a way to relocate them to the right locations If government wants real penetration of LPG there is a lot of work in their hands awareness should be key I have not seen them doing this he said A former National Coordinator of Women in LPG Group Mrs Nkechi Obi said that bringing fake cylinders into the country is like bringing explosives into homes which can be deadly The monster called corruption is responsible for those cylinders that found their way into Nigeria without foreign certification What do we say of the officials who cleared such goods She queried But the DPR through its spokesman Mr Paul Osu revealed that the gas explosion in Kaduna was caused by illegal decanting transfer of LPG into another cylinder by operators of the facility To avoid repeat of such incident in the state and other areas the Kaduna State Environmental Authority in collaboration with DPR ordered the immediate closure of about 87 illegal gas outlets in the state Jibrin Lawal General Manager of the agency said the closure was in line with Gov Nasir El Rufai s directive adding that the sealing of gas outlets will be a continuous process According to him gas refilling is a high risk activity that should not be allowed close to residential areas Also the Director General Standard Organisation of Nigeria SON Mr Osita Aboloma said the organisation would prosecute importers manufacturers and distributors of substandard LPG cylinders and other products as provided by law This he said would serve as deterrent to others and help to ensure safety measures in the country However Mr Saidu Mohammed the DPR Head of Public Affairs Abuja insisted that the DPR had always been proactive in ensuring safety of Nigerians especially when it comes to location of gas plants or petrol stations He said It is unfortunate that we continue to witness gas explosions in the country The DPR from time to time engages with stakeholders and educate them on best practices We always go round the vicinity to clamp down on illegal gas plants in Abuja we do that almost every quarter we have gone to all corners of Abuja to clamp down on skids and illegal gas plants Most of the people we got were arrested by the men of the Nigerian Security and Civil Defence Corp NSCDC and this is done across the whole country We have informed Nigerians to go to any DPR office and report anybody building a gas plant close to their homes and we also have designate mobile numbers to contact in all the states in the country He further noted that DPR would continue to support government s effort to ensure LPG penetration in the country Also Mr Bassey Nkanga DPR s Head of Port Harcourt Operations stated that the DPR was also engaging owners of filling stations and other stakeholders to stop the sale of LPG in cylinders to customers He noted that the Federal Government was planning to end the unwholesome practice in 2020 due to the attendant risks it posed to lives property and the environment We are telling the filling stations that it is risky for people to carry cylinders to buy LPG from their facilities So government is planning to phase it out in 2020 We want filling stations to also have auto gas add on plant inside their facility so that those whose vehicle uses gas as fuel can drive in and buy rather than in cylinders he said Nkanga explained that auto gas filling stations are filling stations that do not sell petrol kerosene and diesel but only sell gas to vehicle owners He said the Federal Government was passionate about ensuring LPG utilisation as well as making available quality and standard cylinders to Nigerians at affordable prices According to him DPR is providing the necessary support to stakeholders to ensure that LPG becomes accessible to Nigerians in line with government policies on LPG utilisation Former Minister of State for Petroleum Resources Ibe Kachikwu had reiterated that the Federal Government was working assiduously to ensure installation of gas filling plants in each of the 774 local government areas in the country Kachikwu spoke at the inauguration of the Nigerian Army Welfare Gas Plant at Mambilla Barracks Abuja He said We are working with LPG companies producing cylinders with very strong presidentially backed incentives to enable them to produce LPG cylinders in this country About four of them are getting facilities from the Nigerian Content Development Monitoring Board NCDMB from the more than 200 million facilities we have They are getting import exemption for materials to be assembled for the plants Once you do that you also expect them to assemble them around the more than 700 local government areas in the country We are targeting that in the next one or two years every local government area will have gas filling plant He added that cylinders produced by the companies would be distributed free to consumers as part of efforts at encouraging local consumption in the country Emphasing on what the minister said Ms Brenda Ataga Kachikwu s Special Adviser on Gas disclosed that the Federal Government planned to inject 600 000 gas cylinders to support efforts to boost LPG penetration in the country She said that there were about 386 000 micro distribution centres across the country with few licenses issued She said that the government would come up with a policy that would remove the ownership of LPG cylinders from consumers Also Mr Simbi Wabote Executive Secretary of NCDMB said the board would focus on gas value chain LPG cylinders and offload plant projects He said that establishing such in Nigeria would help to reverse an estimated capital flight of 360 million dollars per annum associated with production outside the country But some of the roadside sellers of LPG said that they were unaware of some of the government policies but assured of readiness to do anything to ensure they were not out of business One of them who identified himself simply as Udoka said We are doing everything that the DPR said we should do we have joined the union we are working out best ways to go about it Most of us are bread winners in our various homes and will not want our families to suffer If government policies are well implemented and the regulators effectively perform their roles LPG penetration would be achieved and incidences of gas explosions reduced to the barest minimum
    Regulating  gas plants’ locations to reduce explosions 
    Features3 years ago

    Regulating  gas plants’ locations to reduce explosions 

    Regulating  gas plants’ locations to reduce explosions

    By Edith Ike-Eboh, Nigerian News Agency

    The Jan. 4 gas explosion, which occurred on Kachia Road, Sabon Tasha, Chikun Local Government Area of Kaduna State, killed about six people, including the Director General, Nigeria Atomic Energy Commission, Prof. Simon Mallam. The explosion also left several people injured. The incident recorded high casualty because the facility is located in a residential and high population density area.

    A brief review showed that several incidences of gas explosions occurred in the country in 2019, while Lagos State was the most affected.

    In March, there was gas explosion at Babs Animashun, in front of Census Market, Surulere,  Also in July, gas pipeline explosion killed two  people and many injured, all in Lagos State.

    In October, no fewer than 11 persons in Abuja suffered various degrees of burns from a gas explosion.

    A month earlier, in Lafia, Nasarawa State, dozens were left dead with hundreds injured when a gas tanker exploded and caught fire.

    Today, cooking gas is widely used by the womenfolk because of its energy efficiency, while kitchens are gradually becoming the den of deaths due to the number of deaths caused by explosions of cooking gas cylinders.

    Currently, the Federal Government, through the Ministry of Petroleum Resources, declared Nigeria a gas nation, and is working out modalities to ensure use of gas for economic development and penetration of Liquefied Petroleum Gas (LPG) also known as cooking gas.

    Experts attributed the major cause of gas explosion in the country to poor awareness on use of LPG and illegal locations of most gas plants

    They pointed out that a lot of fake cylinders were in circulation, and stressed the need to educate Nigerians on how to identify a fake or expired cylinder.

    They are of the opinion that penetration of LPG was a step in the right direction, but effort must be made to educate Nigerians on best use of LPG to avoid explosion.

    They challenged the Department of Petroleum Resources (DPR) to be proactive and ensure that gas plants are built in safe places.

    Mr Tunde Ishmael, an energy expert said that most Nigerians patronise illegal gas sellers because of closeness.

    “It will be tough for government to get these illegal gas sellers out of the streets because most of them are making their living from the business.

    “What the DPR needs to do now is to go round the streets and take statistics of people doing this business and find a way to relocate them to the right locations.

    “If  government wants real penetration of LPG, there is a lot of  work in their hands, awareness should be key, I have not seen them doing this,’’ he said.

    A former National Coordinator of Women in LPG Group, Mrs Nkechi Obi, said  that bringing fake cylinders into the country “is like bringing explosives into homes, which can be deadly.

    “The monster called corruption is responsible for those cylinders that found their way into Nigeria without foreign certification.

    “What do we say of the officials who cleared such goods?’’ She queried.

    But the DPR through its spokesman, Mr Paul Osu, revealed that the gas explosion in Kaduna was caused by illegal decanting (transfer) of LPG into another cylinder by operators of the facility.

    To avoid repeat of such incident in the state and other areas, the Kaduna State Environmental Authority, in collaboration with DPR ordered the immediate closure of about 87 illegal gas outlets in the state.

    Jibrin Lawal, General Manager of the agency, said the closure was in line with Gov. Nasir El-Rufai’s directive, adding that the sealing of gas outlets will be a continuous process.

    According to him, gas refilling is a high-risk activity that should not be allowed close to residential areas.

    Also, the Director General, Standard Organisation of Nigeria (SON), Mr Osita Aboloma,  said the  organisation would prosecute importers, manufacturers and distributors of substandard LPG cylinders and other products as provided by law.

    This, he said, would serve as deterrent to others and help to ensure safety measures in the country.

    However, Mr Saidu Mohammed, the DPR Head of Public Affairs, Abuja, insisted that the DPR had always been proactive in ensuring safety of Nigerians, especially when it comes to location of gas plants or petrol stations.

    He said: “It is unfortunate that we continue to witness gas explosions in the country. The DPR from time to time engages with stakeholders and educate them on best practices.

    “We always go round the vicinity to clamp down on illegal gas plants, in Abuja, we do that almost every quarter, we have gone to all corners of Abuja, to clamp down on skids and illegal gas plants.

    “Most of the people we got were arrested by the men of the Nigerian Security and Civil Defence Corp (NSCDC) and this is done across the whole country.

    “We have informed Nigerians to go to any DPR office and report anybody building a gas plant close to their homes and we also have designate mobile numbers to contact in all the states in the country.”

    He further noted that DPR would continue to support government’s effort to ensure LPG penetration in the country.

    Also, Mr Bassey Nkanga, DPR’s Head of Port Harcourt Operations, stated that the DPR was also engaging owners of filling stations and other stakeholders to stop the sale of LPG in cylinders to customers.

    He noted that the Federal Government was planning to end the unwholesome practice in 2020 due to the attendant risks it posed to lives, property and the environment.

    “We are telling the filling stations that it is risky for people to carry cylinders to buy LPG from their facilities. So, government is planning to phase it out in 2020.

    “We want filling stations to also have auto-gas add-on plant inside their facility, so that, those whose vehicle uses gas as fuel can drive in and buy rather than in cylinders,” he said.

    Nkanga explained that auto-gas filling stations are filling stations that do not sell petrol, kerosene and diesel – but only sell gas to vehicle owners.

    He said the Federal Government was passionate about ensuring LPG utilisation as well as making available, quality and standard cylinders to Nigerians at affordable prices.

    According to him, DPR is providing the necessary support to stakeholders to ensure that LPG becomes accessible to Nigerians in line with government policies on LPG utilisation.

    Former Minister of State for Petroleum Resources, Ibe Kachikwu, had reiterated  that the Federal Government was working assiduously to ensure installation of gas filling plants in each of the 774 local government areas in the country.

    Kachikwu spoke at the inauguration of the Nigerian Army Welfare Gas Plant at Mambilla Barracks, Abuja.

    He said: “We are working with LPG companies producing cylinders, with very strong presidentially backed incentives to  enable them to produce LPG cylinders in this country.

    “About four of them are getting facilities from the Nigerian Content Development Monitoring Board (NCDMB), from the more than 200 million facilities we have.

    “They are getting import exemption for materials to be assembled for the plants.

    “Once you do that, you also expect them to assemble them around the more than 700 local government areas in the country.

    “We are targeting that in the next one or two years, every local government area will have gas filling plant.”

    He added that cylinders produced by the companies would be distributed free to consumers as part of efforts at encouraging local consumption in the country.

    Emphasing on what the minister said, Ms Brenda Ataga, Kachikwu’s Special Adviser on Gas, disclosed that the Federal Government planned to inject 600,000 gas cylinders to support efforts to boost LPG penetration in the country.

    She said that there were about 386,000 micro distribution centres across the country with few licenses issued.

    She said that the government would come up with a policy that would remove the ownership of LPG cylinders from consumers.

    Also, Mr Simbi Wabote, Executive Secretary of NCDMB, said the board would focus on gas value chain, LPG cylinders and offload plant projects.

    He said that establishing such in Nigeria would help to reverse an estimated capital flight of 360 million dollars per annum, associated with production outside the country.

    But some of the roadside sellers of LPG, said that they were unaware of some of the government policies, but assured of readiness to do anything to ensure they were not out of business.

    One of them, who identified himself simply as Udoka, said: “We are doing everything that the DPR said we should do, we have joined the union, we are working out best ways to go about it.

    “Most of us are bread winners in our various homes and will not want our families to suffer.’’

    If government policies are well implemented and the regulators effectively perform their roles, LPG penetration would be achieved and incidences of gas explosions   reduced to the barest minimum.