Business

NNPCL MD Woos Gas Companies on Appropriate Pricing For Nationwide Penetration

Published

2 years ago

December 20, 2023

OCHEFA

308 Views

Mele Kyari, the MD/CEO, Nigeria National Petroleum Company Limited (NNPCL) says that the company is determined to work with stakeholders in the gas sector to fix
appropriate gas pricing policy is the spark that will ignite the full development of the sector and ensure nationwide consumptions.

He stated this during the unveiling of the Gas Aggregation Company of Nigeria (GACN) new logo and identity in Abuja, Tuesday.

“To bring the recognition that we are a gas country with associated oil, we have to create the infrastructure that will deliver gas to the domestic market.
We have to create the market. That can only happen if there is appropriate pricing for gas.

Source: GOOGLE

“We will not enjoy anything unless we have the right pricing of gas, so that people can pay their bills, they will be able to pay for the gas they take and then we are also able to produce the gas that comes into the market,” he said.

In his address, Minister of Petroleum Resources (Gas), Ekperikpo Ekpo said, “The rebranding and expansion of GACN’s mandate symbolises a transformative state towards actualising the federal government of Nigeria’s ambitious vision for gas penetration nationwide in line with the already existing and legal policies to create a thriving domestic gas sector that will contribute to national development.
Speaking, the CEO, Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engineer Farouk Ahmed said, the company was given a license by the agency to operate an expanded mandate in the domestic gas sector.

He said “The Domestic Gas Aggregation licence as provided for in the PIA underscores the focus and priority attention placed on the domestic gas market space.

“It is expected that this will stimulate vibrancy and efficiency and spur additional investments into the natural gas value chain in the country.”

On his part, the Managing Director (MD), GACN, Chijioke Uzoho said, “We have transformed from Gas Aggregation Company Nigeria Limited to ‘Gas Aggregation Company Nigeria Limited by Guarantee’. This signifies strategic transformation, expanding the company’s growth beyond just aggregating a comprehensive platform actively engaged in consolidating diverse resources, ideas and leadership players within the energy sector.

Related Topics:Gas Aggregation Company of Nigeria (GACN)

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Tony Elumelu’s United Capital Secures approval to operate in Ethiopia

Elumeu lauded the transformational Prime Minister of Ethiopia, His Excellency @AbiyAhmedAli , for promoting economic reforms and regional cooperation, the Director General of Ethiopian Capital Market Authority @CMAEthiopia , Ms. Hana Tehelku, and the team at @UnitedCap on this landmark achievement.

Published

6 hours ago

June 9, 2026

OCHEFA

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United Capital Group has again secured regulatory approvals to commence operations in Ethiopia.

Its Chairman, Tony Elumelu, broke the news on Tuesday, via his official X.

” This development is particularly noteworthy because Ethiopia only recently opened its financial sector to foreign participation, making United Capital’s entry a historic step for both the company and the ongoing integration of African capital markets,” said Elumelu.

Last month, United Capital commenced operations in Rwanda, marking its formal entry into East Africa and reinforcing its ambition to build a leading continental financial services institution.

The Group’s newly established entities include United Capital Trustees Rwanda Limited, licensed to provide trusteeship services, and United Capital Financial Services Rwanda Limited, licensed to offer investment management services, including portfolio management, investment advisory, capital mobilisation, capital market advisory, and fund management solutions.

With this development, United Capital now operates in 11 countries, including Nigeria, with a strong presence in key African markets, a recent expansion into the eight countries within the West African Economic and Monetary Union (WAEMU) region, alongside a growing footprint in East Africa.

According to Elumelu, African institutions are increasingly leading, competing, and succeeding across the continent.

For decades, Africa witnessed foreign capital flowing in while profits largely flowed out.

That narrative is beginning to change.

This is Africapitalism in action — a vision that recognizes the importance of both indigenous and international capital working together to finance Africa’s development and unlock shared prosperity.

Business

Lagos developing world – class new business district —Sanwo-Olu

Sanwo-Olu said Lagos was deliberately building a globally competitive economy driven by innovation, infrastructure and private-sector participation.

Published

9 hours ago

June 9, 2026

OCHEFA

19 Views

• Invest Lagos Summit 3.0: Secretary to the Lagos State Government, ‘Bimbola Salu-Hundeyin (right); Member, House of Representatives, Kafilat Ogbara; Commissioner for Innovation, Science and Technology, Tunbosun Alake; Chairman, Commonwealth Enterprise & Investment Council (CWEIC), Lord Jonathan Marland; Vice President Kashim Shettima; Governor of Lagos State, Babajide Sanwo-Olu; his Deputy, Dr. Obafemi Hamzat; Commissioner for Commerce, Cooperatives, Trade & Investment, Mrs Folashade Bada Ambrose-Medebem; Deputy Chief of Staff to the Governor, Sam Egube, Dr Toyosi Akerele-Ogunsiji and members of the State Executives Council at the opening of Invest Lagos 3.0, themed: “Lagos – The Business Gateway to Africa”, in Lagos, yesterday.

Lagos State Governor, Babajide Sanwo-Olu, has disclosed that as part of efforts to deepen access to global capital, his administration is developing the Lagos International Financial Centre (LIFC), envisioned as a world-class financial district that would strengthen the state’s position as a gateway for investment into Africa.

Speaking yesterday at the third edition of the Invest Lagos Summit, attended by Vice President Kashim Shettima, other governors, foreign investors, development finance institutions and business leaders, Sanwo-Olu said Lagos was deliberately building a globally competitive economy driven by innovation, infrastructure and private-sector participation.

Sanwo-Olu said that the state had recorded significant economic progress in recent years through targeted reforms across transportation, digital infrastructure and industrial development.

Highlighting key infrastructure achievements, Sanwo-Olu cited investments in road networks, waterways and rail transportation, describing them as critical enablers of economic growth and investor confidence.

The governor noted that Lagos was increasingly serving as a gateway to African markets and global capital, positioning itself at the centre of continental trade under the African Continental Free Trade Area (AfCFTA).

According to him, Lagos remains one of the continent’s most strategic economic hubs, with a population exceeding 25 million and a gross domestic product steadily approaching the $300 billion mark.