• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, June 8, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

NDPHC Seeks Reversal Of Dollar Gas Pricing

by Nse Anthony - Uko
2 years ago
in Business
ndphc
Share on WhatsAppShare on FacebookShare on XTelegram

Managing director, Niger Delta Power Holding Company (NDPHC) Limited, Chiedu Ugbo has advocated a re-think in the current practice pricing domestic produced natural gas in foreign currency. “Gas should not be denominated in US dollars and then exposed to vagaries in the forex market,” he said.

Advertisement

Ugbo who spoke at the 2023 Nigeria Energy Summit, which was held recently in Lagos said the cost of gas is prohibitive in Nigeria.

A statement from the company that was released to The Nation in Abuja, quoted him as saying: “I understand that producers have their own arguments but unfortunately, this is Nigeria and if Nigeria has over 200tcf in proven gas reserves, why is it so difficult to get gas? “

“Maybe there has to be investment in technology that can bring out this gas cheaper. A big question is why is gas denominated in US$? Before unification of exchange rates, we were buying gas at an official rate of around N440/$ but now that it is floated, are you going to pass the pass-through cost to consumers?

“Are you going to push over 100% increase to consumers? That will be difficult, and it emphasises the availability question.”

RELATED

Dangote Refinery’s Completion To Make Naira Stronger

US Provides Third Of Dangote’s Crude Requirement In 2025 Supplies

1 hour ago
Equities To Sustain Positive Sentiment Amidst Audited Earnings Expectations

Consumer Goods Sector Drives NGX Growth With 40.65% Increase

1 hour ago

According to him, renewables may be the future of energy but as of now, Nigeria needs natural gas to power heavy industries.

In his view, some industries like those in the steel sector and some others cannot transition immediately to solar energy. They still need natural gas.

As such, “we still have a lot of opportunities especially in power generation to ensure the consumption of gas as we transit to renewables. There are also opportunities in homes for the use of natural gas in cooking and such.

However, “for gas to play an effective role as a transition fuel, certain challenges have to be dealt with.”

“In the power sector, we have serious problems with availability of gas. For example, NDPHC has over 2,000MW available generation capacity on the Western axis of the Niger all the way from Delta State to Ogun State and we need at least 600 million standard cubic feet of gas (scf) to power them. Incidentally, I just managed to get between 100 million and 120 million scf of gas. It is that bad. So, availability is a major challenge”.

Ugbo then advised that regulators in the electricity and oil and gas sector should intervene to provide succour and ensure generation of enough electricity for Nigerians.

“If we can find a means to reduce the cost of gas at least for domestic consumption, that would help a lot. Gas should not be denominated in US dollars and then exposed to vagaries in the forex market.

“As electricity producers, we need gas to fire our power plants. We should find a reasonable means to supply gas for domestic consumption.

”IOCs have gas but they are unwilling to reserve gas for the domestic market. I understand their position about the illiquidity of the domestic market but there needs to be a good handshake between the gas regulator and electricity regulator for us to harmonise interests.”

He then nonetheless assured his audience that NDPHC will continue to strive to ensure that Nigerians get electricity supply despite the challenges.

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

START EARNING US DOLLARS as a Nigerian ($35,000) monthly. Companies are sacking their workers due to AI (artificial intelligence), business owners are in panic mode. Only the smart will make it. Click here


Tags: NDPHC
SendShareTweetShare
Previous Post

UK, US Seek Partnership With Nigeria To Develop Marine, Blue Economy

Next Post

You Can Create A Culture Of Excellence Through Customer Service – Akindele

Nse Anthony - Uko

Nse Anthony - Uko

You May Like

Dangote Refinery’s Completion To Make Naira Stronger
Business

US Provides Third Of Dangote’s Crude Requirement In 2025 Supplies

2025/06/08
Equities To Sustain Positive Sentiment Amidst Audited Earnings Expectations
Business

Consumer Goods Sector Drives NGX Growth With 40.65% Increase

2025/06/08
JUST IN: Nigerian Stocks End 8-Day Gains As Banks Slide
Business

‘Dangote Petrochemicals Listing To Boost Nigeria’s Stock Market’

2025/06/08
NLNG Ties 2023 Science Quiz Competition To Net Zero Emission
Business

NLNG Launches Human Capital Devt Programme Under Train 7 Project

2025/06/08
SEC Warns Nigerians Against Unregistered Investment Schemes
Business

New Meme Coin, PUNISHER COIN, Not Registered – SEC

2025/06/08
AMMC Begins Intensive Traffic Control On Airport Road
Business

Lagos, Abuja Top Nigeria’s 2025 Global Startup Index

2025/06/08
Leadership Conference advertisement

LATEST

Harnessing Visual Communications To Strengthen Electoral Process

The Ministry Of Personal Deliverance (PART 11)

Tinubu And Arewa

Of Eid, Sacrifice, And The Politics Of Hope

Understanding Lumbar Spondylosis: What Your Lower Back Is Telling You

US Provides Third Of Dangote’s Crude Requirement In 2025 Supplies

Consumer Goods Sector Drives NGX Growth With 40.65% Increase

‘Dangote Petrochemicals Listing To Boost Nigeria’s Stock Market’

NLNG Launches Human Capital Devt Programme Under Train 7 Project

New Meme Coin, PUNISHER COIN, Not Registered – SEC

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.