Nigeria targets 5 million MT LPG utilisation by 2022

January 19, 2021
15 Views

The Federal Government, on Tuesday, said it is set to achieve the 5million metric tonne Nigeria domestic Liquefied Petroleum Gas (LPG) utilisation target by 2022.

This was even as it announced that the country’s LPG domestic consumption in 2020, exceeded the 1million Metric Tonne threshold.

In a statement issued by the Petroleum Products Pricing Regulatory Agency (PPPRA) and signed by the Executive Secretary, Abdulkadir Saidu, it said Nigeria consumed 840,594.37 MT LPG in 2019, indicating an increase of 60.5% over 635,452.061MT recorded in 2018.

It said the development has placed the country as one of the leading LPG consuming nations on the continent.

“This steady and sustained pattern of growth culminating in the over 1million metric tonnes of LPG domestic consumption milestone in 2020 has placed the country 1st in West Africa and one of the leading LPG consuming nations on the continent.

“With this laudable feat, the country is on track to meet the 5 million MT by 2022 target, set in the Nigeria Gas Policy (NGP) of 2017,” the statement read in part.

The agency noted that the remarkable growth in the domestic LPG market remains largely driven by the impact of the FG’s policies and programmes, coupled with the efforts of relevant stakeholders and regulatory bodies in the industry.

ALSO READ: FIRS generates N4.9trn tax in 2020

It said these have led to the entrance of new investors in the sector.

PPPRA stressed the resolve to deepen LPG penetration in the country is to create a healthier life for Nigerians by providing access to a cleaner source of energy for cooking, vehicular transportation and other domestic uses.

Already, it noted that the Nigeria Liquefied Natural Gas (NLNG) Limited, has increased its allocation of LPG to the domestic market from 350, 000MT to 450, 000MT in 2021.

The agency further added that the Nigerian National Petroleum Corporation (NNPC) also recently commenced LPG production and load-out in its newly commissioned Nigerian Petroleum Development Company Limited (NPDC) Oredo Gas handling facility, which has an estimated production stream of 330MT daily.

To this end, it expressed the FG’s commitment to growing the LPG/Gas value chain to such heights that deliver maximum dividends to Nigeria and Nigerians.

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

Nigeria targets 5 million MT LPG utilisation by 2022

Nigeria Recorded 70 COVID-19 Deaths Last Week – Highest In Six Months

Last week, Nigeria recorded 70 new COVID-19 deaths which is the highest in six months, Tribune Online analysis reveals.

According to data sourced from the Nigeria Centre for Disease Control (NCDC), the last time Nigeria recorded more deaths than last week was the 78 deaths reported in the 30th week of the pandemic (July 19 – July 25)…

Nigeria targets 5 million MT LPG utilisation by 2022

You may be interested

How Orji Uzor Kalu broda kari me go shrine to swear — Abaribe
News
News

How Orji Uzor Kalu broda kari me go shrine to swear — Abaribe

admin - March 5, 2021

How Orji Uzor Kalu broda kari me go shrine to swear — Abaribe Posted by News Express | 5 March…

Board lauds Ugwuany for infrastructure revolution in health sector
News
News

Board lauds Ugwuany for infrastructure revolution in health sector

admin - March 5, 2021

Board lauds Ugwuany for infrastructure revolution in health sector Posted by News Express | 5 March 2021 | 43 times…

Zamfara abductions: Police dispute reported number of deaths, abductees
News
News

Zamfara abductions: Police dispute reported number of deaths, abductees

admin - March 5, 2021

Zamfara abductions: Police dispute reported number of deaths, abductees Posted by News Express | 5 March 2021 | 43 times…

Leave a Comment

Your email address will not be published.