Nigeria Requires $750 Million To Develop LPG Transport, Retailing Infrastructure, Says Eternal Boss
By Sulaimon Salau
The Managing Director and Chief Executive Officer, Eternal Plc, Abiola Lukman Lawal, has disclosed that $750 million would be required to develop LPG transport and retailing infrastructure.
Lawal disclosed this at the 2024 Strategic International Conference of the Association of Energy Correspondents of Nigeria Conference (NAEC), in Lagos.
He said to achieve our energy sufficiency via Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG), concerted effort is required from all stakeholders for large scale investment in gas infrastructure; policy and regulatory reform to encourage private sector engagement and investment; champion consumer sensitization efforts to create awareness of CNG/ LPG as viable alternatives to oil.
According to him, there is need for tax credits and rebates for purchasing CNG vehicles and converting existing vehicles to CNG; while grants and low-interest loans would also encourage private investment in CNG and LPG infrastructure.
Lawal also said there was need to educate the public about the environmental and economic benefits of CNG and LPG through media campaigns, workshops, and community programmes.
He enjoined the government and stakeholders to encourage access to reliable and affordable energy, which he said is critical to power households (electricity, cooking, transport) and industries (machinery, transport).
Rolling out the benefits of CNG and LPG to Nigeria, he said it would create job opportunities; reduce greenhouse gas emissions; and encourages cost savings for consumers and businesses.
“We must transform the way we generate and use energy to meet growing energy demand and providing energy access for the poor while actively reducing emissions,” he said.
