Tue. Jul 26th, 2022

Gas- Powered Economy by 2030.

The Minister of State for Petroleum, Timipre Sylva, says the Federal Government aims to transform Nigeria into a gas- powered economy by 2030 to address challenges around power generation through gas- powered plants.

The Minister who disclosed this in Abuja, at the 2022 public lecture under the theme, “Inclusive energy transition: key issues, investment opportunities and Barriers towards achieving the decade of gas initiative in Nigeria” noted that natural gas is a key resource for energy transition.

More than thirty State Governments have received one hundred and thirty eight point five million dollars grant from the World Bank for meeting the requirements for debt –related Disbursements Link Indictor, DLIs.

The Director General, Debt Management Office, Mrs. Patience Oniha, represented by Dr Isyaka Mohammed, who made this known at a workshop for Newsmen, organized by the States Fiscal Transparency Accountability and Sustainability in Abuja, stated that there are three debt related DLIs which the State Governments met.

The Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture, has expressed fear that the federal Government’s Food Security Policies may push inflation rate to a record high eighteen point seventeen percent that was recorded in March, 2021.

The NACCIMA President, J.C Udeagbala who stated this, said inflation measured on a year-on-year basis had grown from fifteen point six-three percent as at December, 2021 to fifteen point nine-two percent as of march, 2022.

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