- Nigerians groan daily as the price of Liquefied Petroleum Gas, also known as cooking gas rises in various parts of the country
- Operators are seeking ways on how to meet the demand and as well make it more available and affordable in Nigeria
- Nigeria LNG Limited has explained recently why it cut down the exports of gas and its benefit to the domestic market
Lagos, Nigeria- The price of Liquefied Petroleum Gas, also known as cooking gas continue to rise in various parts of the country but operators attribute the price hike to the nation’s grappling economy, rise in population and VAT.
Recently, Nigeria LNG Limited has stated the reason why it reduced the export of cooking gas in the country.
The Punch reports that NLNG disclosed it reduced its exports of cooking gas, so as to meet the rising demand in the domestic market.
The Managing Director and Chief Executive Officer, NLNG, Dr. Philip Mshelbila, said this in Lagos while highlighting the company’s contribution to domestic LPG supply in the country.
PAY ATTENTION: Join Legit.ng Telegram channel! Never miss important updates!
Mshelbila, who was represented by the Manager, Corporate Communications and Public Affairs, Dr Sophia Horsfall, at a conference organised by energy correspondents on Tuesday, November 2, noted that in response to calls for NLNG to supply LPG domestically, the company intervened in 2007 to ease the challenges around the availability of LPG.
He said the NLNG had since then consistently made the product available in the country.
“The company has increased its committed volume to the market by consistently reducing its export LPG volumes in satisfaction of domestic demand, increasing domestic provision from 50,000MT in 2007 to 450,000MT from 2021.
“NLNG provides a dedicated vessel for this purpose, LPG Vessel, Alfred Temile. NLNG has taken steps to diversify the supply base of the product by expanding its delivery point from the Lagos Terminals to include a Port Harcourt Terminal to ensure products are not concentrated in one region by infusing flexibility in supply base.”
Nigeria's Peak Power Generation drops to 4,552.80MW when the country needs 28,850MW for a stable supply
Mshelbila said the benefits of gas to the country would increase on the back of the Train 7 project, which would expand NLNG’s capacity by 35 per cent from 22 million metric tonnes per annum to 30MTPA.
Train 7 Project
He revealed that the Train 7 project would add immense value to the country by stimulating an inflow of about $10bn foreign direct investment to Nigeria as part of the project scope.
He said it would create more than 12,000 direct jobs and additional 40,000 indirect construction jobs.
“This will be a massive boost to Federal Government’s commitment to create jobs and move the poverty index positively.”
He noted that the company announced in June 2021 the signing of sales and purchase agreements with three Nigerian companies as counterparts for the domestic supply of LNG.
Earlier, Independent reported that the federal government revealed it was deepening the utilization of cooking gas in Nigeria, in a bid to meet domestic demand and discourage the use of dirty sources of energy for cooking.
Viral video shows people in Lagos queuing to buy cooking gas, Nigerians react to new prices
Meanwhile, Legit.ng had earlier reported that a video supposedly showing people in Lagos state as they queued for cooking gas has got many reactions on social media.
Posted by Tunde Ednut on Instagram, he claimed the incident happened in the state earlier in the week.
In the clip, buyers were at a gas filling station with their different sizes of cylinders to buy the product. Some of them even sat on the containers as they awaited their turns.
President Buhari refuses to make NNPC his personal ATM card
It was reported that Adesina in an article shared on his Facebook post on Thursday, September 2, explained that the massive economic feat came about because his principal has refused to make the corporation his personal Automated Teller Machine.
He added that the president who is also the minister for petroleum resources is the first leader in the history of Nigeria and the NNPC who has refused to make the agency his means of accumulating riches.