The Minister of State Petroleum Resources (Gas), Mr Ekperikpe Ekpo, has pushed for increased efforts from stakeholders to boost domestic liquified petroleum gas (LPG) in the country.
According to a statement, the minister on Tuesday held separate meetings with the management of the Nigeria Liquefied Natural Gas (NLNG) Limited, the Nigerian National Petroleum Company (NNPC) Limited, WAGL Energy Limited and Nexaspring Gas Limited as part of efforts to increase the availability of LGP in the domestic market.
The meetings were attended by key stakeholders, including the EVP for Gas and New Energy at NNPC, Mr Lekan Ogunleye; the Managing Director of NLNG, Mr Philip Mshelbila; his deputy, Mr Olakunle Osobu; the Managing Director of WAGL, Mr Mohammed Sani Bello; and the Managing Director of Nexaspring Gas, Mr Bowale Jolaso, among others.
The two indigenous firms, WAGL Energy Limited and Nexaspring Gas, have plans to invest in LPG storage and supply facilities near the NLNG plant in Bonny, Rivers State.
This strategic location will enable them to receive gas deliveries directly from NLNG and easily move them into the domestic market via the soon to be completed Bonny-Bodo Road, being constructed by the NLNG.
Nigeria holds around 209–209.3 trillion cubic feet (TCF) of proven natural gas reserves making it Africa’s largest and 9th globally with targets to reach 210 TCF by the end of 2025 and 220 TCF by 2030 .
As of 2024, Nigeria’s total gas production in 2024 reached approximately 2.5 billion mmscf (million standard cubic feet), up slightly from 2023, split between associated (1.44 billion) and non-associated (1.07 billion) gas.
Around 92 per cent of that gas was utilized (including exports), while flaring accounted for 8 per cent, showing progress from historically very high flare rates.
Based on availabile data, Nigeria earned roughly N8.6 trillion from gas in 2024, using a dprice of $2.42/MMBTU and achieving 2.31 TCF of utilized gas.
This is far below potentials as the government is targeting daily production of 12 BCF by 2030 under its Decade of Gas initiative.
Mr Ekpo urged the management of NNPC and NLNG to collaborate with Nigerian firms to ensure the success of their projects, so that LPG is made more readily available to Nigerians at affordable prices, to further drive President Bola Tinubu’s From Gas to Prosperity: Renewed Hope Agenda.