Pipeline vandalism increased by 18.6% in December 2020, as 43 pipeline points were vandalized representing an increase of about 18.6% from the 35 points recorded in November 2020.
This was disclosed by the Nigerian National Petroleum Corporation (NNPC) in its December 2020 edition of the Monthly Financial and Operations Report (MFOR) on Friday, according to the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru.
What NNPC is saying
In December 2020, 43 pipeline points were vandalized representing about 18.6% increase from the 35 points recorded in November 2020.
Mosimi Area accounted for 56% of the vandalized points while Kaduna Area and Port Harcourt accounted for the remaining 33% and 11% respectively.
In the Gas Sector, it stated that the natural gas production in December 2020 stood at 213.34 Billion Cubic Feet (BCF) translating to an average daily production of 6,881.83million standard cubic feet of gas per day (mmscfd).
The daily average natural gas supply to power plants increased by 3.52% to 816mmscfd, equivalent to power generation of 3,445MW.
“Out of the 208.61BCF of gas supplied in December 2020, a total of 146.72BCF was commercialized; consisting of 42.90BCF and 103.82BCF for the domestic and export market respectively,” it added.
What it means
This translates to a total supply of 1,383.93mmscfd of gas to the domestic market and 3,349.00mmscfd of gas supplied to the export market for the month.
It means that 70.33% of the average daily gas produced was commercialized while the balance of 29.67% was re-injected, used as upstream fuel gas or flared.
What you should know
The 65th edition of the NNPC MFOR highlights the Corporation’s activities for the period under review.
CBN includes sugar, wheat on FX restriction list
The CBN is set to include sugar and wheat in the forex restriction list.
The Central Bank of Nigeria has announced plans to place sugar and wheat on its FX restriction list.
The plan was disclosed by the apex bank via its verified Twitter handle in a statement credited to the CBN governor, Godwin Emefiele.
The tweet stated: “Sugar and Wheat to go into our FX restriction list. We must work together to produce these items in Nigeria rather than import them. #Emefiele.”
Sugar and Wheat to go into our FX restriction list. We must work together to produce these items in Nigeria rather than import them . #Emefiele
— Central Bank of Nigeria (@cenbank) April 16, 2021
It would be recalled that over the years, the CBN has been reviewing its list of restricted food items to include more items, with the most recent being the addition of maize, a widely-consumed staple food in the country.
What you should know
- The CBN governor, Mr Godwin Emefiele, had earlier (on Thursday) given this hint while on an inspection visit to the proposed $500 million sugar processing facility in Nasarawa state, belonging to Dangote Sugar.
- In 2015, the CBN listed 41 items that had been placed on its FX restriction list citing that the move was necessary to conserve the nation’s foreign reserve and boost local production of the items on the restriction list.
- Some of the items which made the 2015 list are margarine, poultry and eggs, rice, and cement.
- In 2020, the apex bank included maize in its FX restriction list as it directed all authorised dealers to immediately discontinue the processing of Forms M for maize/corn importation into the country.
- Nairametrics had also earlier explained in its publication following the new policy shift, that the government’s premise for deciding to restrict FOREX on food is faulty, especially since Nigeria has not attained full food security and the agricultural sector is still struggling.
FG signs new Sustainable Development Goals agreement with UN
The Agreement is for new development cooperation with initiatives towards achieving Sustainable Development Goals set in the UN Agenda 2030.
The Nigerian Government has signed a deal with the United Nations to develop new cooperation towards achieving Sustainable Development Goals.
This was disclosed by the Minister of Foreign Affairs, Geoffrey Onyeama, in a statement on Thursday after the agreement was signed with the United Nations Office for Project Services, UNOPS, represented by Ifeoma Charles.
The Minister said, “On behalf of the Nigerian Government, I signed an agreement with the UNOPS represented by Ifeoma Charles Multi-Country Office Rep. The Agreement is for a new development cooperation with initiatives towards achieving Sustainable Development Goals set in the UN Agenda 2030.”
What you should know
The 17 Sustainable Development Goals are:
No Poverty; Zero Hunger, Good Health, and Well-being; Quality Education; Gender Equality; Clean Water and Sanitation; Affordable and Clean Energy; Decent Work and Economic Growth; Industry, Innovation and Infrastructure; Reducing Inequality; Sustainable Cities and Communities; Responsible Consumption and Production; Climate Action; Life Below Water; Life on Land; Peace, Justice and Strong Institutions; and Partnership for the Goals.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- Nigerian Breweries publishes names of over 100,000 shareholders who are yet to claim their dividends.
- 2020 FY Results: Sovereign Trust Insurance Plc records a 37% increase in profit after tax.
- CSCS Plc posts profit after tax of N6.93 billion in FY 2020
- BUA Cement Plc announces Board Meeting
- Infinity Trust Mortgage Bank Plc records a 60% increase in profit after tax in Q1 2021.