Connect with us
nairametrics

Energy

Nigeria’s cooking gas storage capacity increases to 69,968 MT

Nigeria’s total Liquified Petroleum Gas storage capacity has increased to 69,968 Metric Tons.

Published

on

FG estimates that alternative petrol, CNG would cost N97 per litre, New PIB amends royalties by oil firms as Sylva clarifies position on scrapping of NNPC, autogas, FG to establish petroleum depot, oil and gas logistic centre in Akwa Ibom

The Minister of State for Petroleum Resources, Chief Timipre Sylva, announced that Nigeria’s cooking gas storage capacity has increased to 69,968MT. He revealed this while inaugurating the 8,400 MT capacity Liquified Petroleum Gas (LPG) terminal in Kirikiri, Lagos, built by Techno Oil.

According to NANS report, Chief Timipre Sylva, who was represented by Dr Musa Zaki, Deputy Director, Department of Petroleum Resources (DPR), commended the company on this great milestone, both in its operation and in meeting the national aspiration. He said that with the inauguration of this facility, there are now 12 LPG depots in the country, with a total storage capacity of 69,698MT.

The Minister explained that 2020 is a year in which the national economy was planned for expansion with the abundant natural gas resources of the country. He emphasized that with the 8,400MT automated terminal, the company was no doubt set to provide end to end solution in the domestic LPG industry.

According to him, the great milestone reached by the company is in line with the national aspiration of deepening LPG (cooking gas) in the country and that the LPG gas terminal will facilitate job and wealth creation by reducing deforestation and greenhouse emissions and promoting domestic gas value chain development in the nation.

(READ MORE: LSETF to host maiden Employment Summit to showcase leading job creation strategies)

GTBank 728 x 90

However, the LPG terminal is expected to pivot Lagos State and Nigeria at large to a gas-powered economy, which would offer an array of economic and environmental benefits to its residents. The terminal is expected to generate up to 2,000 jobs in the months ahead.

What they are saying

Chief Timipre Sylva said, “The commissioning of this facility is definitely a good contribution to the two aspirations mentioned above in addition to environment protection, job, and wealth creation by reducing deforestation and greenhouse emissions and promoting domestic gas value chain development.

Coronation ads

“With the inauguration of this facility, there are now 12 LPG depots in the country, with a total storage capacity of 69,698MT. However, the Nigerian LPG market is still not saturated, there are huge opportunities for further investments in the entire domestic gas value chain.

“These include gas processing, transportation and distribution, storage, retail, manufacturing of equipment and provision of services.

Commenting on the milestone, Mrs. Nkechi Obi, the Group Managing Director/Chief Executive Officer, Techno Oil, said,

We plead with the government to provide funding to industrialists in building key facilities such as the one being commissioned. The government should consider reactivating its butanization plants and also building new ones across the country to guarantee LPG availability nationwide.

“Similarly, it is also time for the government to embark on a media campaign to sensitize the populace on the benefits of LPG over other cooking fuels. More so, government agencies and regulatory bodies should enforce the rules to sanitize the space for a safe and profitable business environment.

Jaiz bank ads

“We remain thankful to the Lagos State government for being a worthy host by providing the much appreciated conducive environment for our business to thrive. This is yet another of our numerous projects that is being hosted in Lagos; we thank you from the bottom of our heart.”

Stanbic IBTC

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Energy

NNPC to provide free conversion services to motorists to switch from PMS to autogas

The NNPC has revealed plans to help motorists switch from Premium Motor Spirit (PMS) to Autogas.

Published

on

NNPC

The Nigerian National Petroleum Corporation (NNPC) has disclosed that it is going to provide free conversion services in some selected NNPC retail filling station in the country.

This is part of the effort of the corporation aimed at assisting interested motorists to switch from Premium Motor Spirit (PMS) popularly known as petrol to Autogas as the Federal Government rolls out an autogas programme called the National Gas Expansion Programme.

This was disclosed by the Group Managing Director of NNPC, Mele Kyari, on Tuesday, December 1, 2020, while delivering his address at the Presidential Virtual Rollout of the National Gas Expansion Programme (NGEP).

While delivering his address, Kyari pointed out that the areas of focus with existing Autogas service stations include the Federal Capital Territory Abuja, Kaduna, Kano, Kogi, Kwara, Ogun, Ondo, Oyo, Lagos, Edo, Delta, Rivers and Bayelsa States.

The statement from Kyari partly reads, ‘’To support this effort, NNPC is providing free conversion services in some selected NNPC retail filling stations to assist interested motorists switch from PMS to Autogas, especially in areas with existing Autogas service stations in the Federal Capital Territory Abuja, Kaduna, Kano, Kogi, Kwara, Ogun, Ondo, Oyo, Lagos, Edo, Delta, Rivers and Bayelsa States.’

GTBank 728 x 90

The NNPC boss revealed that the state-owned oil corporation is expanding this initiative to all NNPC retail filling stations across the country, while also assuring motorists of steady availability of Autogas at competitive prices.

He also said that NNPC is expanding its natural gas footprint across the country in order to support industrialization and job creation through its various ongoing gas infrastructure projects which includes Obiafu-Obrikom-Oben (OB3) gas pipeline project connecting East and West.

Others are Escravos-Lagos Pipeline System (ELPS 11 which is expected to boost supply to the western corridor and the AKK gas pipeline that will supply gas to Abuja, Kaduna and Kano states.

Coronation ads

What you should know

  • President Muhammadu Buhari today performed the virtual rollout of autogas programme called the National Gas Expansion Programme. The programme, which involves the conversion of fuel-powered cars, generators from petrol to gas, is aimed at deepening domestic usage of natural gas in its various forms.
  • The programme is also in line with the Federal Government’s plan to make gas the first choice source of cheaper and cleaner energy. This follows the deregulation of the downstream sector of the oil industry with sharp increases in prices of petrol.

Continue Reading

Energy

Senate confirms 6 NERC commissioners, drops Chairman-nominee

Six nominees for the board of the Nigerian Electricity Regulatory Commission (NERC) have been confirmed as commissioners.

Published

on

National Assembly approves Federal Government’s plan to borrow $11 billion in 2021, Senate urges FG to diversify from crude oil to natural gas production , Senate seeks textile importation ban , Senate receives six aviation sector bills from Buhari , PenCom: Constitute a board, NASS and pension operators tell FG, Nigeria’s total debt now N33trn —Senate, Senate confirms appointment of board members for NDIC, law reform commission, Senate to confirm reappointment of Danbatta as NCC boss, Senate investigates claims of NELMCO, AEDC over govt asset, Senate Investigate Banks over customers exploitation and high fees, 2021 Budget: Senate sets motion for budget defense, commences 2020 review, #EndSARS: States affected by hoodlums should get 1% VAT - Senate

The Nigerian Senate has confirmed the nomination of six members for the board of the Nigerian Electricity Regulatory Commission (NERC) as commissioners.

The legislators also dropped, Prof. Akintunde Akinwande, the nominee for the Chairman position due to his absence from the screening.

This was disclosed by the senate committee on Power, Steel Development and Metallurgy on Tuesday.

The confirmed nominees are Sanusi Garba (North-West) as vice-chairman; with Nathan Rogers Shatti (North-East), Moses Arigu (North-Central), Dafe Akpedeye (South-South), Frank Okafor (South-East) and Musiliu Oseni (South-West).

The committee recommended that President Muhammadu Buhari present another nominee to replace Akinwande.

GTBank 728 x 90

 

Continue Reading

Energy

FG to deliver 1 million vehicle conversion to autogas by end of 2021

The FG’s Autogas programme is expected to deliver at least 1 million vehicle conversions by the end of 2021.

Published

on

FG to deliver 1 million vehicle conversion to autogas by end of 2021

The Federal Government has revealed that its Autogas programme is expected to deliver at least 1 million vehicle conversions by the end of next year.

The implementation of this programme by the government will herald the clean energy transition for Nigeria and the delivery of cheap transportation.

This was disclosed on Sunday, November 29, 2020, by the Federal Government via tweets on its official Twitter handle.

READ: 25 million Nigerians to pay N4,000 monthly for solar power system

GTBank 728 x 90

READ: N75 billion Nigerian Youth Investment Fund to be rolled out before end of October – Minister

The rollout is the culmination of the resolve of President Muhammadu Buhari-led government to deepen domestic usage of natural gas in its various forms. It is also in line with the government’s plan to make gas the first choice source of cheaper and cleaner energy for Nigerians in their personal and industrial use.

(READ MORE: FG gives reasons why it is repackaging its social intervention programmes)

Coronation ads

The government also stated that there will be a commencement of formal dispensing of Autogas (CNG and LPG) products at two NNPC retail stations.

In addition, there will be a handover of CNG-powered mass transport buses to NLC, in fulfilment of the agreement during recent negotiations. This agreement was reached with labour during negotiations and in recognition of the role organized labour plays in the quest to bring relief to ordinary Nigerians.

READ: Cornerstone Insurance Plc projects PAT of N537.4million in Q1 2021

What you should know 

Nairametrics reported in September that the Minister of State for Petroleum Resources, Timipre Sylva revealed that Nigerians can now convert cars using petrol to gas, which is cheaper, with effect from October 2020.

The Department of Petroleum Resources also ordered 9,000 filling stations nationwide to begin the installation of facilities for gas products.

Jaiz bank ads

READ: PIB may be passed by first quarter of 2021 – Sylva

Stanbic IBTC

In October, the Federal Government estimated that the Compressed Natural Gas (CNG) will cost N97 per litre, as it had promised to provide alternatives to the Premium Motor Spirit (PMS), otherwise known as petrol, for poor Nigerians.

Continue Reading