Nigeria National Petroleum Company (NNPC) Limited is collaborating with the federal government, through the Office of the Vice President on the establishment of Gas Funding Company Ltd for the injection of 20 million cylinders in the next 5 years.
NNPC said the company’s establishment, which involved collaboration with other relevant stakeholders and being done under the Marketer Cylinder Owned Model, would boost liquefied petroleum gas (LPG) penetration.
FG And NNPC To Establish New Gas Company, To Inject 20 Million Cylinders In 5 Years
According to NAN, this was made known on Wednesday by the group managing director of NNPC, Mele Kyari, at the opening of the India-Nigeria Liquefied Petroleum Gas (LPG summit) in Abuja.
The India-Nigeria LPG summit, with the theme, “Energising the Future: Leveraging the Indian Experience to Achieve Nigerian National LPG Aspiration,” was hosted by the NNPC with the support of the Office of the Vice President and World LPG Association (WLPGA).
Kyari, who was represented by the group executive director, downstream of NNPC, Adeyemi Adetunji, said the summit would be required to submit a report detailing gaps identified and recommendations on best practices from the Indian experience, to achieve rapid National LPG penetration.
He said the summit would equally discuss the Nigerian experience and Indian example covering safe LPG handling, pricing, and financial support.
The NNPC boss noted that this will enhance LPG affordability among the poor, communication strategies, ICT, and infrastructure as well as collaboration on Cylinder management and manufacturing.