Nigerians requires about $750m investment in the transportation and retailing infrastructure for Liquefied Petroleum Gas, popularly called cooking gas, to achieve the target of five million metric tonnes of annual consumption, operators in the LPG space have said.
Speaking at the 2nd Annual Virtual LPG workshop organised by the African Refiners and Distributors Association, which was attended by experts, they also stated Nigeria’s Gross Domestic Product might witness $1bn growth yearly through optimisation of flared gas.
In his presentation at the workshop, the Executive Director, Rainoil Limited, Emmanuel Omuojine, stated that the investments would also be needed in gas adoption and utilisation.
He said, “Nigeria requires about $750m investment in LPG transport and retailing infrastructure across the country to achieve the target of five million metric tonnes annual consumption. “Investing in gas adoption and utilisation, e.g., LPG bulk storage, LPG trucks, LPG filling plants, LPG skids, gas cylinder manufacturing, LNG (Liquefied Natural Gas) plants, CNG (Compressed Natural Gas)/LNG trucks, LNG regasification /compression stations, and CNG filling stations.
“An estimate of over $27m will be generated by switching 50 per cent of kerosene and firewood users to LPG. Optimisation of flared gas could impact the country’s GDP by up to $1bn per year.”
