Skip to main content

Equalisation deal will deepen gas utilisation in Nigeria — IPMAN President

Equalisation deal will deepen gas utilisation in Nigeria — IPMAN President
Equalisation deal will deepen gas utilisation in Nigeria — IPMAN President
Independent Petroleum Marketers Association of Nigeria

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says the deal it signed with the Petroleum Equalisation Fund (PEF) will deepen gas utilisation in the country.

IPMAN President, Mr Chinedu Okoronkwo, said this in an interview with the News Agency of Nigeria (NAN) on Sunday in Lagos.

Okoronkwo said the deal which was signed recently in Abuja by PEF and the oil marketers was in line with the vision of the President Muhammadu Buhari-led administration to increase domestic gas utilisation.

According to him, the government through the National Gas Expansion Programme is working toward increasing utilisation of Liquefied Petroleum Gas, also known as cooking gas, as well as Compressed Natural Gas for vehicles.

READ ALSO: Nigeria badly damaged, broken, needs urgent rescue, Atiku says

He said: “We (IPMAN) have a collaboration pact with PEF on how to help marketers distribute gas to the nooks and crannies of the country.

“The deal entails funding and co-location of mini-depots in existing facilities and suitable locations owned by IPMAN members.

“The target is to set up 100 plants each in Lagos, Kano, Port Harcourt and Enugu and 50 each in other states under the first phase.”

Okoronkwo expressed optimism that the move would further increase utilisation of LPG in Nigeria which was over one million Metric Tonnes in 2020.

On the recently concluded public hearing on the Petroleum Industry Bill (PIB) by the National Assembly, he said the delay in its passage was not good for the sector and the country at large.

“The benefit of the PIB is enormous because, for the first time, there will be a direction on how things should be done and in accordance with best practices.

“I think it will make it easier for doing business in the oil and gas industry and create an enabling environment for investments.

“It may not be holistic but it is a step in the right direction and the lawmakers have assured us that it will be passed before the end of the first quarter.

“From the way they are going, I see a lot of transparency and sincerity of purpose. They should be encouraged and given all the necessary support,” he added.

Vanguard News Nigeria

The post Equalisation deal will deepen gas utilisation in Nigeria — IPMAN President appeared first on Vanguard News.


by Lawal Sherifat via Vanguard News https://ift.tt/39AjMgv Best Known Member of the Cabinet Wikipedia
Labels:

Comments

Post a Comment

Popular posts from this blog

UPDATED: Nigeria’s coronavirus cases reach 1,728, fatalities 51

  By David Royal The Nigeria Centre for Disease Control (NCDC) says 196 new cases of coronavirus (COVID-19) have been reported in the last 24 hours, bringing the total number of confirmed cases to 1,728. NCDC also announced that seven more fatalities were recorded, bringing the total number of deaths to 51. The NCDC, in a tweet at about 11:55 p.m. on Wednesday, said the 196 new cases reported were; 87-Lagos, 24-Kano, 18-Gombe, 17-Kaduna, 16-FCT, 10-Katsina, 8-Sokoto, 7-Edo, 6-Borno, 1-Yobe, 1-Ebonyi, 1-Adamawa. The virus has spread to 34 states and the Federal Capital Territory, Abuja. Yobe, according to NCDC report, is the most recent state to record COVID-19 case in the country. According to the agency, Nigeria now has 1,370 active cases recorded as of 11:55 p.m. on April 29, while 307 infected persons have been treated and discharged, with 51 deaths recorded. READ ALSO: US says remdesivir shows ‘clear-cut’ effect in treating coronavirus “On the 29th of April 2020, 196 ...
Post a Comment
Read more

Video Apapa/Oshodi Expressway Report

CONTRARY to  claims by Senior Special Assistant to the President on Industry, Trade and Investment, and Secretary, Presidential Enabling Business Environment Council, Dr. Jumoke Oduwole, yesterday, that over 90 per cent compliance has been recorded following a presidential directive to truck drivers to vacate the Apapa/Oshodi Expressway and access roads to the ports, Vanguard can authoritatively report that since the expiration of the  presidential order, the trucks are  yet to vacate most of the places they occupy. Continue reading Video Apapa/Oshodi Expressway Report at Vanguard News. by adekunle via Vanguard News http://bit.ly/2wtn1Ca Best Known Member of the Cabinet Wikipedia
Post a Comment
Read more

Bolt launches in-App calling feature to enhance customer satisfaction

Africa’s leading ride-hailing platform, Bolt, has recently launched a Voice Over Internet Protocol (VoIP) feature to simplify communication between riders and drivers. This innovative feature further enforces Bolt’s commitment to safety and allows easy communication flow without extra charges to users. The new feature enables riders and drivers to utilise phone services over the internet, eliminating the cost of regular phone calls. In addition, the VoIP feature adds an extra layer of safety and assurance when riders engage with drivers. Speaking about the update, Femi Akin-Laguda, Country Manager at Bolt, shared that safety and customer satisfaction remain priorities for the company. “We are constantly innovating and identifying ways to ensure our services remain safe and convenient for both riders and drivers. “This new feature ensures extra security that secures our riders and drivers’ information and provides cost savings on airtime use. VoIP is similar to voice calls on other ...
Post a Comment
Read more