Electron Native

Nigeria’s gas reserves have increased by 7.3 per cent from 187 trillion cubic feet (tcf) to 200.79 tcf, according the Director of Department of Petroleum Resources (DPR), Mordecai Ladan. He stated this at a technical workshop with the theme: “Gas Utilisation in Nigeria: Challenges, Opportunity and Outlook,” organised by Society of Petroleum Engineers (SPE), Lagos branch, in Lagos on Wednesday. Ladan, represented by Deputy Manager, Gas Division of DPR, Mr Olawale Ogunsola, said, “national gas reserves have risen to 200.79 trillion cubic feet as at 1st January, 2019 and that is what should be quoted going forward.” He said Nigeria was considered as a gas producing nation because of its potential unproven gas reserves which were more than her crude oil reserves. The director said Nigeria’s daily gas production stood at 1.2 billion standard cubic feet (scuf). He said that 41 per cent of the daily production was exported and 48 per cent went to domestic market while 11 per ce...

The Nigerian Communications Commission (NCC) says it recently reviewed the computation of the country’s teledensity with the latest population figure of 190 million, as stipulated by the National Population Commission (NPoC). The current figure was given by the NPoC marking an increase from the 140 million populations of 2006. Telephone density or teledensity is the number of telephone connections for every hundred individuals living within an area. Prof Umar Danbatta, Executive Vice Chairman of NCC made this known in a statement on Wednesday in Abuja. Danbatta said that following the re-alignment, also in line with the International Telecommunication Union (ITU)’s calculation of teledensity, the commission arrived at a teledensity of 91 per cent by the end of March. He said “This is just as active subscriber base for the month of March increased to 173.7 million from 173.6 million in February, 2019. “Hitherto, teledensity in Nigeria was calculated using the 140 million p...

The National Bureau of Statistics (NBS), said the Consumer Price Index (CPI), which measures inflation increased by 11.37 per cent (year-on-year) in April 2019. The NBS said this in its “CPI and Inflation Report for April’’ released on Wednesday in Abuja. According to the bureau, this is 0.12 per cent points higher than the rate recorded in March, 2019 (11.25) per cent. The bureau, however, said the high inflation was caused by increase in prices of some foodstuff. Source: NAN The report said the composite food index rose by 13.70 per cent in April compared to 13.45 per cent in March, 2019. It said the rise in the food index was caused by increases in prices of meat, fish, oils and fats, bread and cereals, milk, cheese and egg, yam and other tubers, fruits and vegetables. On month-on-month basis, the report said the food sub-index increased by 1.14 per cent in April, up by 0.26 per cent points from 0.88 per cent recorded in March. The average annual rate of change...