Nigeria News (Standard)
Federal Government Unveils New Policies to Boost LPG Supply, Address Surging Cooking Gas Prices Nationwide
Measures come as households face record-high costs; oil and gas stakeholders urged to support implementation
Measures come as households face record-high costs; oil and gas stakeholders urged to support implementation
The federal government on Tuesday announced a raft of policy interventions aimed at increasing the supply of Liquefied Petroleum Gas (LPG), commonly called cooking gas, in a bid to address the persistent rise in prices affecting millions of Nigerian households. The new measures were unveiled in Abuja as part of efforts to stabilise the domestic LPG market.
Officials disclosed that the interventions would focus on improving logistics for local producers, encouraging investment in infrastructure, and streamlining regulatory processes that have contributed to bottlenecks within the sector. The move comes amid complaints from consumers across Lagos, Rivers, Kano, and other states that the price of cooking gas has more than doubled over the past year, placing additional strain on household budgets.
Rising LPG prices have become a major concern for Nigerians, with data from the National Bureau of Statistics (NBS) showing average prices climbing to unprecedented levels in recent months. Industry experts point to factors such as foreign exchange volatility, high transportation costs, and inadequate storage facilities as key drivers of the hike. The government said it is working closely with oil marketers and depot owners to ensure increased product availability and check arbitrary price increases at retail outlets.
A senior official from the Ministry of Petroleum Resources stated that “government is committed to making cooking gas affordable for all Nigerians”. The official added that regulatory agencies would intensify monitoring activities at filling plants and depots nationwide to forestall hoarding and profiteering. Stakeholders in the oil and gas industry have been urged to support these reforms by investing in new terminals and expanding existing supply chains.
Government indicated that further consultations would be held with state governments and private sector operators to fine-tune implementation strategies. The aim is to guarantee long-term stability in LPG supply while protecting consumers from future price shocks. The opposition could not be immediately reached for comment on the latest measures.
Nigeria News (Standard)
Haaland’s Brace Sends Norway Into World Cup Knockout as Senegal Risk Early Elimination
Senegal must defeat Iraq in their final group game to avoid first-round exit after 3-2 loss in New Jersey
Senegal must defeat Iraq in their final group game to avoid first-round exit after 3-2 loss in New Jersey
Erling Haaland scored twice on Monday night to secure a 3-2 victory for Norway against Senegal in New Jersey, confirming the Scandinavian side’s place in the FIFA World Cup last 32 with a match left to play. The win leaves Senegal needing to beat Iraq in their final group fixture to stand any chance of progressing beyond the group stage.
The encounter saw Norway take the lead just before half-time through substitute Marcus Holmgren Pedersen. Haaland then doubled the advantage shortly after the break, capitalising on defensive lapses from Senegal. Ismaila Sarr pulled one back for the African champions, but Haaland responded almost immediately with his second goal, restoring Norway’s two-goal cushion. Sarr netted again late on for Senegal, but it proved only a consolation as Norway held on for all three points.
Haaland’s remarkable performance brings his tournament tally to four goals in just two matches and increases his overall international total to 59 goals from 52 appearances. The Manchester City striker’s form is drawing comparisons with Lionel Messi and Kylian Mbappe, both of whom also scored braces earlier in the day for their respective teams. Norway now sit atop their group and will face France next in Boston on Friday, with both teams vying for first place.
Senegal’s defeat puts them under pressure ahead of their clash with Iraq, who are yet to register a point at this tournament. Only a win will keep Senegal’s hopes alive for reaching the knockout rounds. Norwegian coach and players expressed satisfaction with their qualification, while Senegalese officials urged supporters not to lose hope as preparations begin for what could be a decisive final group game.
With Nigeria’s Super Eagles preparing for their own crucial fixtures later this week, African football fans will be watching closely to see if Senegal can revive their World Cup campaign and join other continental representatives in the next round.
Source: https://guardian.ng/sport/football/haaland-fires-norway-into-last-32-as-senegal-face-early-exit/
Nigeria News (Standard)
United Capital Expands Across Africa, Boosts Regional Investment Banking Growth
Company’s expansion strategy targets key African markets, driving increased deal volume and strengthening Nigeria’s financial sector influence
Company’s expansion strategy targets key African markets, driving increased deal volume and strengthening Nigeria’s financial sector influence
United Capital Plc has recorded significant growth in regional investment banking, driven by its recent expansion across several African countries. The financial services group, headquartered in Lagos, has intensified its presence on the continent as part of a broader strategy to tap into emerging markets and strengthen cross-border transactions.
The company’s move comes amid rising demand for sophisticated financial products and advisory services in West and Central Africa. By establishing operations in new markets, United Capital aims to facilitate larger transaction volumes, connect Nigerian investors with fresh opportunities abroad, and support indigenous businesses seeking regional expansion.
Industry stakeholders say the expansion is timely, considering the evolving regulatory environment and increased competition from global investment banks entering Africa. United Capital’s push is expected to help consolidate Nigeria’s status as a major financial hub within sub-Saharan Africa. Analysts note that by leveraging its experience in capital raising and mergers & acquisitions, the group can support infrastructure development and economic diversification initiatives across the continent.
As at Tuesday, United Capital had not released specific figures on deal size or transaction value linked to its new African operations. However, company executives maintain that ongoing market entry efforts will yield substantial gains for shareholders and clients alike. Observers expect United Capital’s regional strategy to set the pace for other Nigerian investment firms eyeing pan-African expansion.
Nigeria News (Standard)
Presidency Rejects Obi’s Call for Tinubu’s Resignation Amid Political Tensions
Presidential aides dismiss Labour Party leader’s demand, say President Tinubu remains focused on governance priorities
Presidential aides dismiss Labour Party leader’s demand, say President Tinubu remains focused on governance priorities
The Presidency has dismissed recent calls by Labour Party (LP) presidential candidate Peter Obi for President Bola Tinubu to resign, insisting that the president will not step down and remains committed to delivering on his mandate. The statement was made in Abuja on Tuesday by senior officials in response to growing criticism from opposition figures.
According to the Presidency, Obi’s suggestion that Tinubu should vacate office is baseless and does not reflect the current realities in Nigeria’s political landscape. The officials stated that the president continues to focus on implementing his administration’s policies and addressing national challenges, including economic reforms and security operations across various regions.
The call by Obi comes at a time of heightened political rivalry following the 2023 general elections, where Tinubu of the All Progressives Congress (APC) emerged victorious. Opposition parties, particularly the LP and Peoples Democratic Party (PDP), have continued to challenge aspects of the electoral process and question government performance on key issues such as inflation, unemployment, and security incidents across several states.
In their reaction, presidential aides reiterated that the president remains undeterred by what they described as “distractions” from aggrieved opposition leaders. They urged Nigerians to support ongoing reforms while assuring that government will continue to prioritise the welfare of citizens. “President Tinubu is committed to fulfilling his promises and will not be swayed by calls lacking constitutional backing,” one official said in Abuja.
There has been no immediate response from Obi or LP officials following the Presidency’s statement. Analysts say such exchanges are likely to intensify as Nigeria heads into another cycle of political activities ahead of forthcoming state-level elections.
