AS Nigeria steps up effort to realise its target of boosting domestic gas utilisation, Minister of State for Petroleum Resources, Chief Timipre Sylva, says the government is looking towards more private and public sector collaboration.
At the inauguration, on Friday, of the Rainoil Limited Liquefied Petroleum Gas (LPG) facility with a tank capacity of 8,000 metric tonnes in Ijegun, Lagos State, Sylva said Nigeria had sufficient gas reserves to meet its energy needs.
He said Rainoil Limited had strengthened its partnership with the government in gas utilisation and development of the gas sector with the establishment of the facility.
According to Sylva, “Rainoil is really working in tandem with the vision of the Federal Government, in making gas a preferred fuel in the country.
”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 government has declared 2020 as “The Year of Gas,” and Rainoil’s investment in gas aligns with President Buhari’s agenda in the National Gas Expansion Programme (NGEP).
He said Nigeria had sufficient reserves to meet its needs as the government intensifies efforts to deepen LPG penetration and attain five million metric tonnes of LPG consumption by 2022.
Group Managing Director Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari, said at the inauguration that NNPC was set to support companies working to accomplish the government’s agenda.
“We believe that gas is our next instrument for developing our economy, and we commend Rainoil in ensuring the use of gas in the country,” Kyari said.
Group Managing Director, Rainoil Limited, Dr Gabriel Ogbechie, said, “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.
“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 per cent.”