…19,500 mt of LPG, 250 retail stations for PMS, 100 LPG stations
The Managing Director of NIPCO Plc, Suresh Kumar, said the company, would continue to make massive investments to take advantage of the federal government’s ‘decade of gas’ policy.
According to him, the company has spent over $50 million on natural gas infrastructure over the years. He stated that the company believes that there are lots of potential in Nigeria that can be explored for gas utilisation, and this will further boost the country’s boost economy.
“We are the pioneers. We always dream for the future. So we dreamt for natural gas utilisation in Nigeria right from 2008 and we started investing. We introduced this model to the government and say that look, Nigeria is a country that has abundant natural gas and instead of wasting subsidy on petrol, we should be looking at a blueprint of changing the petrol market to CNG market,” he explained.
He stated this while addressing journalists at a recent media interaction after a facility tour of the expansion programme the company has recently undertaking.
He promised that the company would continue to make massive investments to take advantage of the federal government’s ‘decade of gas’ policy.
The company, he said currently has about 19,500 metric tonnes combined storage capacity for LPG, with 10 loading bays which can truck-out over 4,000 tonnes per day.
Kumar said the company currently has over 250 branded retail stations for white products and over 100 stations for Liquefied Petroleum Gas (LPG), while plans are in progress to build many more.
According to him, the company’s 10 world-class petroleum tanks with electronic radar gauges have a combined capacity of 85 million litres, supported by 10 loading arms and 2 buffer gantries loads over 200 trucks per day.
Kumar recalled that the company pioneered the use of gas for vehicular fuel in the country.
“By using indigenous gas, we can reduce the subsidy burden on the Federal Government. We can reduce the importation burden and that will directly or indirectly save our huge capital flight and there will be more employment opportunities for Nigerians.
The NIPCO boss said that the organisation had deepened gas usage and market penetration in the country through massive investment in the sector.
He said that as the Federal Government plans to put an end to fuel subsidy, Compressed Natural Gas (CNG) and Auto CNG were bound to be a preferred “fuel of choice”.
According to him, the benefits of the natural gas is that it is safe, environmental friendly, economical, among others.
Kumar said that the company had invested massively in gas infrastructure, in line with Federal Government declaration of 2021 to 2030 as “Nigeria’s Decade of Gas“.
He noted that the declaration is when the government aspired to accelerate domestic and export gas production and utilisation.
He said that NIPCO was intensifying investment in gas infrastructure to bolster the gas agenda of the Federal Government, which was getting a booster.
According to him, already, the company has established Compressed Natural Gas (CNG) facilities across the country to make cars run on gas.
He also said that NIPCO had been expanding its scope on supply of Liquefied Natural Gas (LNG) and constructing new pipeline infrastructure to strategic locations in the country.
According to him, NIPCO is an integrated company that supplies the Nigerian market with petrol, diesel and gas.
