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Nigerian press focuses on effect of crash in demand for liquefied natural gas in Europe on Nigerian economy, others

The effect of the crash in the demand for the liquefied natural gas in Europe on the Nigerian economy and the warning by the United Nations yesterday that the fight against the COVID-19 pandemic might be jeopardised unless governments retained the trust and participation of citizens throughout are some of the leading stories in the Nigerian
press on Thursday.The Punch reports the crash in demand for liquefied natural gas in Europe has posed a threat to the Federal Government’s revenue from the exports of the commodity.

The Nigeria LNG Limited, which was established to harness Nigeria’s vast natural gas resources and produce LNG and natural gas liquids for export, is jointly owned by the Nigerian Government and three international oil companies.

The country generated $1.03bn (N314.15bn) from gas exports in 2019, according to data obtained from the Nigerian National Petroleum Corporation and the collapse in crude oil price has added to pressure on the LNG prices, some of which are linked to oil.

ThisDay says that the Federal Executive Council (FEC) yesterday approved N2.923 billion contract for the provision of infrastructure for the manufacturing of oil and gas components at Odukpani in Cross River State.

Briefing reporters after the virtual FEC meeting in Abuja, the Minister of State for Petroleum, Chief Timipre Sylva, said the total contract sum of N2.923 billion, including tax, was awarded to Messrs Kinetic Electro-Mechanical Limited with the completion period of 15 months.

The minister, who said the project would serve as an additional infrastructure facility for the manufacturing of oil and gas components in National Oil and Gas Park, added that upon completion, the project would boost capacity in oil and gas sector, provide job opportunities for Nigerians and boost economic activities in Odukpani.

The Guardian says that the World Health Organisation (WHO) has vowed to use every tool at its disposal to fight the COVID-19 pandemic, its Director General, Dr. Tedros Ghebreyesus, has said.

Ghebreyesus, who spoke at the closing of two-day virtual World Health Assembly in Geneva said some of the recommendations from the assembly would be shared and be implemented.

“WHO’s focus now is fighting the pandemic with every tool at its disposal. Our focus is on saving lives. At the end of the day, what matters is life. That should be at the centre of everything we do and everything we say,” he said.

The Nation reports that the Defence Headquarters says the Air Task Force of Operation Lafiya Dole (OPLD) has destroyed the logistics base of the Boko Haram/Islamic States of West Africa Province (ISWAP) at Njimia on the fringes of Sambisa Forest in northern Borno State.

The Coordinator, Defence Media Operations, Maj.-Gen. John Enenche, said in a statement on in Abuja that the operation was in continuation of the onslaught against terrorist targets in the North East.

Enenche said the feat was achieved on Monday following credible intelligence reports as well as series of Intelligence, Surveillance and Reconnaissance (ISR) missions.

 

 


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Published on 28.04.2020

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