MARKET REPORT: Nigeria Commences Local LPG Distribution
The Minister of State for Petroleum Resources, H.E. Timipre Sylva announced that the Federal Government will commence the opening of micro gas distribution channels across all local councils in the federation. This was done at the launch of the Nigerian Women for Liquified Petroleum Gas (LPG). The Minister noted that LPG will be used as a clean alternative to firewood, which is largely utilized for cooking in rural parts of the country. Minister Sylva stated that the LPG project aims to empower rural women as they use a cleaner energy source for cooking, with 99 million women across households in all local councils being targeted over the next three years. The project will cut across 120 political units and 800 political wards across the 774 Local Government Areas in the federation.
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Alhaji Mele Kyari received high praise in the U.S. 2020 Country Report on Human Rights Practices in Nigeria. Kyari received a commendation for releasing the NNPC’s audited 2018 financial statement for the first time in 43 years. NNPC released the audited 2018 financial statement in June 2020, the first of its kind since its inception in 1977, publishing audited accounts of 20 of its subsidiaries and business divisions in the process.
The report praised the launch of the Financial Transparency Policy and Portal, as it aims to increase transparency and government accountability of funds transferred. It further noted that the Nigerian Extractive Industries Transparency Initiative, as well as other anti-corruption watchdog groups praised the administration for implementing a procedure to have better access to government spending data.
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