shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » NNPC Laments Low Investment in LPG Market

NNPC Laments Low Investment in LPG Market

by Joshua
June 11, 2018
in Uncategorized

The Group Executive Director/Chief Operating Officer, Nigerian National Petroleum Corporation, NNPC, Downstream, Mr. Henry Obih, has called on operators in the oil and gas industry to invest more in Liquefied Petroleum Gas, LPG, saying that huge opportunities still exist for investment in the sector.

Obih stated this at the opening of 14 LPG outlets by 11 Plc (formerly Mobil Oil Nigeria Plc), saying that the low level of investment has worsened the availability of the product in the domestic market while stunting the level of consumption by Nigerians.

He said that an industry approach needs to be adopted to increase LPG penetration in the nation's domestic market.

Obih stated: "The country's current LPG consumption of about 600,000 Metric Tonnes, MT, annually is not yet satisfactory. There are huge potential for the market because the World Bank statistics estimates that Nigeria's consumption is about 3.2 million tons a year.

"In 2007, we were consuming about 50,000 MT of LPG in a year, in 2009 it was 70,000 MT, while in 2017, we were almost 600,000 MT of LPG consumables in Nigeria.

"In spite of being the largest producer of the commodity in the region, its per capita is 2.3 kilograms a year as compared to Morocco and Ghana whose annual per capita stands at 6.27 and 9.45 kilograms respectively."

On his part, Managing Director, 11Plc, Mr. Tunji Oyebanji, stated: "Our sister company NIPCO is very strong in LPG business with extensive assets and infrastructure within the various value chain, and various other investments at the retailing end of the business. We are further guaranteed of regular supply of product to our customers. Additionally, our supply source, NIPCO has technical supply agreement with Nigeria Liquefied Natural Gas (NLNG)".
 


Related Posts

Despite ₦5.17trn Surplus, Dollar Dominates Nigeria-China Trade As Naira-Yuan Swap Struggles

Despite ₦5.17trn Surplus, Dollar Dominates Nigeria-China Trade As Naira-Yuan Swap Struggles

June 30, 2025
Meningitis: Death Toll In Kebbi Hits 56 – Govt 

Meningitis: Death Toll In Kebbi Hits 56 – Govt 

March 24, 2025
Navy Rescues 8 Police Officers,1 Civilian From Boat Accident In Bayelsa

Navy Rescues 8 Police Officers,1 Civilian From Boat Accident In Bayelsa

January 8, 2025
PHOTO NEWS: SIFAX Thanksgiving and Night of Praise 2.0

PHOTO NEWS: SIFAX Group Thanksgiving and Night of Praise 2.0

December 18, 2024

Discussion about this post

Latest News

Vessels Expected At Lagos Ports As At 9th July, 2025

FG Donates 3,500 Life Jackets to Boost Waterways Safety in Ogun State

July 9, 2025

Dangote Commends NPA-Led OSS Committee, Donates Bus to Support Operations

Customs Intercepts ₦654m Worth of Undeclared Foreign Currency at Kano Airport, Hands Over Suspects to EFCC

Vessels Expected At Lagos Ports As At 9th July, 2025

CRFFN Dismisses Viral Court Judgement Reports, Reaffirms Regulatory Mandate over Freight Forwarders

Lagos Govt. Dismantles Illegal Checkpoints Along Badagry Expressway

Nigeria Customs Sensitises International Airline Operators on Currency Declaration

PHOTO NEWS Collaboration For Trade Facilitation

Vessels Expected At Lagos Ports As At 8th July, 2025

Nigerian Exporters Lament as Road Freight to Ghana via Benin, Togo Costs Over ₦10 Million Per Truck  

NIWA Responds to Lagos State’s Call to Halt Sand-Filling Approvals on Waterways 

Shippers’ Council Recovers Over N5.5 Million in Container Deposit Refunds, Demurrage Disputes in Q1

kindly like our Facebook page

Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert
Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert

June 30, 2025

Mrs Roseline Akinlabi, Adolescent and Youth Sexual Reproductive Health Desk Officer, Osun Primary Healthcare Board, says contraceptive pills cannot cause...

ONIONS: The Good Old Healing Vegetable

KNOW YOUR BODY PARTS: The Liver

June 16, 2025
ONIONS: The Good Old Healing Vegetable

ONIONS: The Good Old Healing Vegetable

June 16, 2025
Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025
20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025
See Mental Illness Like Other Treatable Diseases – Says Suicide Survivor

Health Facts You Didn’t Know

May 19, 2025
Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

April 28, 2025
Water And Health: The Relationship That Helps Life

Water And Health: The Relationship That Helps Life

April 28, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition