Nigeria to encourage private, public sector participation in LPG production
Nigeria said plans to encourage more collaborative efforts between private and public to boost domestic gas utilisation in the country.
According to the Minister of State for Petroleum Resources, CTimipre Sylva, the government is working toward the realisation of its policy of domestic gas usage.
Sylva while inaugurating the Rainoil Limited Liquefied Petroleum Gas (LPG) facility with a tank capacity of 8,000MT in Lagos said the facility which also has about 40 LPG trucks would help to deepen cooking gas penetration in the country in line with the vision of the Federal Government.
Sylva said Rainoil Limited had strengthened its partnership with the government in gas utilisation and development of the gas sector in the country with the establishment of the facility.
He said : “Rainoil is really working in tandem with the vision of the federal government, in making gas a preferred fuel in the country.
“I am excited at what I am seeing here today. Everything can speak for itself. As you can see, energy is very important in the global economy and I am glad that Nigerian’s are playing key roles in the oil and gas industry.”
Sylva noted that Rainoil’s investment in gas development aligns with President Buhari’s agenda in the National Gas Expansion Programme (NGEP), adding that the government has declared 2020 as “The Year of Gas”.
He said Nigeria had sufficient gas reserves to meet its energy needs as the government intensifies efforts to deepen LPG penetration and attain five million MT of LPG consumption by 2022.
Mele Kyari, Group Managing Director NNPC said the corporation was ready and willing to support all the companies that are making efforts in accomplishing the federal government developmental agenda.
“We believe that gas is our next instrument for developing our economy, and we commend Rainoil in its effort in ensuring the use of gas in the country, ” Kyari said.
On his part, the Group Managing Director, Rainoil Limited, Gabriel Ogbechie, said that the decision to invest in growing the LPG sector started in 2018.
“Rainoil Gas will meet the energy needs of customers at the retail end in the coming months. There are filling plants in process where LPG can be supplied in cylinders to consumers.
“The expansion of Rainoil Limited perfectly aligns with the company’s vision and mission to continually proffer solutions to fill the voids in the energy sector.
“Nigeria has the fastest growing LPG sector in the world with a projected LPG market size of $10 billion, with the domestic demand seeing an increase of 40 percent,” Ogbeche said,