FG Urges Investors In Oil, Gas Sector To Boost Domestic Utilisation
The Federal Government in line with its aspiration to deepen gas utilisation in Nigeria, has urged investors to harness investment opportunities in the entire gas value chain before it reaches a saturation stage.
According to the Minister of State for Petroleum Resources, Timipre Sylva, the Nigerian Liquefied Petroleum Gas (LPG) market is not yet saturated, hence the government is encouraging investments in the space to bridge the gap of LPG and other domestic gas usage in the country.
The Minister, represented by the Deputy Director, Department of Petroleum Resources (DPR), Musa Zagi, at the inauguration of Techno Gas’ 8,400 metric tonnes LPG terminal in Lagos, noted that “there are huge opportunities for further investments in the entire domestic gas value chains, which include gas processing, transportation and distribution, storage, retail, manufacture of equipment and provision of services.”
He added that interested companies and individuals can contact DPR on opportunities that can be explored and how the Department can help promote the establishment of Oil and Gas businesses.
He remarked that the LPG terminal investment is in line with the national aspiration to deepen penetration of LPG whereby both domestic and commercial food cooking would be fuelled by LPG, as a complete alternative to all existing cooking fuels, most especially firewood.
The Group Managing Director, Techno Oil, Nkechi Obi, however implored the government to rescue Nigerian industrialists by providing funds to them for the development of facilities of such nature.
She also pleaded for consideration of reactivating government’s butanisation plants, and also building new ones across the country to guarantee LPG availability nationwide.
“Government agencies and regulatory bodies should enforce the rules to sanitise the space for a safe and profitable business environment,” she said.
On his part, Commissioner of Energy and Mineral Resources, Lagos State, Olalere Odusote, cautioned the company to uphold and lead a culture of safety across its day-to-day activities and operations with strict compliance to the highest standards of safety and regulatory compliance.
He said: “with the coming onstream of several LPG terminals in Lagos, the multiplier effect is the establishment of more LPG filling plants across the state, which makes the issue of safety paramount.”
In collaboration with Federal and State regulatory agencies, including the Standards Organization of Nigeria (SON), and DPR as well as other stakeholders, will embark on sustained enforcement measures. This is to discourage establishment and operation of unsafe gas infrastructure in the State, to ensure all gas operators across the value chain comply strictly with established standards and safety regulations.