The Managing Director/CEO of NIPCO Plc, Mr. Suresh Kumar, has advocated for supporting local refineries, such as the Dangote Refinery, to boost domestic production of Liquefied Petroleum Gas (LPG), which would help reduce the rising cost of cooking gas. Speaking at the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) 2024 National Conference in Lagos, Kumar highlighted the need for increased local production to lower reliance on imports and stabilize prices.
He noted that producing more LPG domestically would mitigate the impact of foreign exchange fluctuations and international pricing. Kumar expressed optimism that as local production increases, the price of LPG will decline, making it more affordable for Nigerians.
Kumar also emphasized that NIPCO remains committed to expanding the LPG market and promoting Compressed Natural Gas (CNG) for industrial and transportation use. He revealed that NIPCO’s investments in LPG infrastructure have grown significantly, with storage capacity increasing from 5,000 metric tons to over 20,000 metric tons in recent years.
Additionally, he stressed the importance of working with government authorities and stakeholders to end gas flaring and increase domestic LPG supply to meet the needs of Nigeria’s growing population.
