The Nigerian National Petroleum Corporation (NNPC) is to open a liquefied petroleum gas (LPG) storage and dispensing facility in Benin City, Edo State.
The facility, developed in partnership with its upstream exploration and production subsidiary, the Nigerian Petroleum Development Company Limited (NPDC), is part of efforts to fast track the consumption LPG, popularly called cooking gas, in the country.
NNPC’s spokesperson, Ndu Ughamadu, said the facility will be the largest LPG and propane storage and dispensing outfit in country.
The Managing Director of NPDC, Yusuf Matashi, said the IGHF would be a game changer for the NNPC, as both facilities (IGHF & LPG bay), when commissioned, would be a huge revenue stream for the Federal Government.
Mr Matashi said before the end of 2019, NPDC would be producing 40 per cent of Nigeria’s LPG consumption requirements.
He said the storage facility was centrally positioned in Benin City to supply LPG to consumers in Lagos, South-South; South-East and to the Northern part of the country, to grow consumption LPG consumption nationwide.
According to him, the NPDC’s production outlook for 2019/2020 was on the bright side, as the company is aggressively pursuing its drilling and field development programmes as approved by the NNPC.
Mr. Matashi also said the NPDC has maintained cordial relations with regulatory agencies, such as the Department of Petroleum Resources (DPR), apart from consistently remitting its royalties and Petroleum Profit Tax to the Federal Inland Revenue Service (FIRS).
He said the NPDC and its various host communities were living in peace due to the company’s commitment to sustainable community development policy.
Over time, he said the company won the confidence of the people of the Niger Delta region and would continue to build on the gains recorded.
Source: Premium Times