Energy crisis: More problems for households, others as cooking gas price surges
photo credit:Vanguard newspapers
THE price of Liquefied Petroleum Gas, LPG, otherwise known as cooking gas has risen to N14,150 for 12.5kg cyclinder, about 38 per cent Year-on-Year, YoY, against N10, 323.33 it sold in April 2023 last year.
This is even as the price of aviation fuel also rose to between N1, 300 and N1, 500 per litre in the domestic market, from about N1, 000 during the period, indicating an increase of 33 per cent.
However, checks by Energy Vanguard also indicated that the price of 5kg of the gas increased by 37 per cent to N5, 700 from N4, 642.27 during the period.
In an interview with Energy. Vanguard, the President, Nigerian Association of Liquefied Petroleum Gas Marketers, NALPGM, Mr. Oladapo Olatunbosun, said the prices of cooking gas would continue to leap as the domestic market continues to be impacted by foreign exchange crisis.
photo credit:Google
OFFCUT: Nigerians commend CBN gov, Cardoso, over Naira appreciation
Nigerians have commended the Central Bank Governor, Olayemi Cardoso for Naira’s appreciation against dollar.
Recall that Central Bank of Nigeria issued a circular to Bureau De Change operators, detailing the sale of $10,000 to each BDC at a rate of N1,101 per US dollar on Monday, 8th April, 2024.
In response to this development, Nigerians have taken to their social media platforms to commend the positive impact on the currency exchange rate.
Okuama: March 14 killers wore military fatigues — eyewitness
A witness to the March 14 killing of soldiers at the Okuama in Ughelli South Local Government Area, Delta State, has revealed that the gunmen, who came with four speedboats from the Bomadi axis to the community’s riverside and immediately opened A witness to the March 14 killing of soldiers at the Okuama in Ughelli South Local Government Area, Delta State, has revealed that the gunmen, who came with four speedboats from the Bomadi axis to the community’s riverside and immediately open fire on both soldiers and villagers, wore military camouflage. military camouflage.
The witness, an indigene of Okuama who spoke exclusively to Vanguard, said when the soldiers first entered the community on March 14, they asked for the chairman, who later came from the farm. They entertained them before they started dragging him to the waterside; the women resisted, and they started shooting.
Her words: “They insisted on going with him (the chairman); they dragged him with others. We held them and dragged them back. From there, the army started shooting, and some villagers fell, and there was a commotion.”
NNPC Faces $3bn Backlog On Petrol Payments
The Nigeria National Petroleum Company Limited (NNPCL) owes around $3 billion to fuel traders for imported petrol, three sources told Reuters.
The sources also disclosed that the tumbling naira and rising global fuel prices have increased the subsidy it is paying.
The payment backlog is a blow to the government’s efforts in the economy to shore up its strained finances by curbing costly energy subsidies.
They are paying, but it’s slow,” one of the sources with knowledge of the matter said. Five sources said that NNPC – the country’s main importer of petrol – was taking more than 130 days to make the payments instead of within 90 days.
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