Nigeria wants to increase its yearly Liquefied Petroleum Gas (LPG) use from the 1.7 million metric tons reported last year to over 3 million metric tons within five years with the help of the Nigeria National Petroleum Company Limited (NNPC Ltd) and other partners.
At the India Nigeria LPG Summit on Wednesday in Abuja, Engr. Adeyemi Adetunji, Group Executive Director, Downstream, NNPC Ltd., said as much.
The initial goal is to produce 5 million metric tons in the next two to three years, but there is a need to do much more, Engr. Adetunji told the press as he gave a briefing on the sidelines. I think that template will be updated very soon so that we can make sure we do more to support the use of biomass and LPG in Nigeria.
He added that Nigeria’s LPG penetration has been rising. “We were approaching 1 MT, and now we are at 1.7 MT. So this is development. And once more, if you look at the past several years and use the 30% compounded annual growth rate, you can see that last year, there were 1.7 million MT. We’ll know exactly what the consumption is by the end of the year, said Adetunji.
The restructured corporation, according to the NNPC official, “contributes roughly 45% of the domestic supply via joint ventures, affiliates, and subsidiaries,” and has a significant involvement in the LPG value chain.
He said that NNPC Ltd. is in line with the National Gas Expansion Programme (NGEP) and the National LPG Expansion Plan, which, according to him, will establish a Gas Funding Company Ltd. for the injection of 20 million cylinders for consumers over the course of the following five years.
The purpose of the LPG summit, according to Adetunji, was for Nigeria to learn from India’s experience. He added, “We also decided that we will collaborate with India to draw lessons from the Pradhan Mantri Ujjwala Yojana (PMUY) scheme, which the Indian Prime Minister launched in 2016 and raised LPG penetration from roughly 61% to over 90%.”
Nigeria is the second greatest producer of gas in Africa, behind Algeria, according to Amb. Adeyemi Dipeolu, Special Adviser to the President on Economic Matters in the Office of the Vice President.
You can read more such stories at The Cheer News
Fuel Price Hits N462 Soon – NNPCL
NNPC Operates 24hr In Depots To Ease Off Fuel Scarcity
NNPC Makes Fresh Announcement On Fuel Scarcity That Will Affect All Nigerians
He pointed out that 55% of LPG is still imported and said there are programs in place to increase the per capita usage of LPG, which is now only 1.8 kg.
The World LPG Association (WLPGA) and the Office of the Vice President supported NNPC in hosting the summit, which had the title “Energizing the Future: Leveraging the Indian Experience to Achieve Nigerian National LPG Aspirations” and was first proposed during the WLPGA Summit in Dubai in 2021.
Anyone who doesn’t realize that Nigeria will one day become an LPG giant is not paying attention, according to the Chief Advocacy Officer of the WLPGA, Michael Kelly. He also stated that the WLPGA is eager to support this process.
You can read more such stories at The Cheer News and Credible News
