The Nigerian National Petroleum Corporation (NNPC) has commenced the process of expanding the nation’s Liquefied Petroleum Gas (LPG) market through the selection of reputable companies to off-take Natural Gas Liquids (NGLs) for domestic and international markets.
The exercise which took place in Abuja saw 223 companies bid for the 2019-2021 sale and purchase of Natural Gas Liquids, a release by NNPC Group Public Affairs Division, Mr. Ndu Ughamadu said.
Speaking at the public opening of the bids in keeping with the corporation’s commitment to transparency, the Group Managing Director of the Corporation, Dr. Maikanti Baru, said the exercise was part of the strategic focus to expand the nation’s domestic LPG supply and encourage investments in storage, marketing and distribution infrastructure.
Dr. Baru who was represented by the Chief Operating Officer (COO), Gas and Power, Engr. Seidu Mohammed, said Nigeria was among the countries with the lowest per capita consumption of LPG because of low penetration of the product.
“The only way to boost consumption is to first make the product available”, he said, adding that the selection of reputable companies to drive the process was the necessary first step.
“We are not only focused on lifting and sending it out, we are also determined on maximizing value in-country and growing the LPG market to the level it deserves”, he said.
The event was witnessed by representatives of the Bureau of Public Procurement (BPP), Department of Petroleum Resources (DPR), Nigerian Content Development and Monitoring Board (NCDMB), among other stakeholders.