Photo caption:
From left: Deputy President, Nigeria Liquefied Petroleum Gas Association (NLPGA), Ladi Falola; Member, Publicity & Awareness Committee, NLPGA, Jane Okoh; Executive Secretary, NLPGA, Lanre Bayewu and Member, Publicity & Awareness Committee, NLPGA, Bidemi Oluseyi, at the NLGPA Abuja 2023 pre-event press conference with the theme: “LPG-Bridging The Energy Transition” in Lagos.
By Emeka Ugwuanyi
The Nigeria Liquefied Petroleum Gas Association (NLPGA) has said there will be rewarding conversation on gas as a key enabler in Nigeria’s energy transition journey at its upcoming flagship annual conference in Abuja.
The conference which its theme is “LPG – Bridging the Energy Transition,” is the 13th in the series and is billed for November 7 and 8 at the Petroleum Technology Development Fund (PTDF) Towers in Abuja.
Briefing journalists at the Association’s Headquarters in Lagos on the forthcoming conference, the Deputy President, Ladi Falola, who stood in for the President, Felix Ekundayo, highlighted why this year’s conference is unique.
Falola said this year’s annual conference is a must attend for Nigerians in every sector considering the importance of gas as a key component of the energy mix especially with the ongoing global transition from fossil fuels to cleaner energies.
Besides the energy transition, Falola noted that the future of gas is very bright in Nigeria in view of the recent policy announcements by the Federal Government such as the removal of fuel subsidy and floating of the foreign exchange market, among others. These policy actions are welcome by the Association as that will attract investors into the industry and contribute immensely to the development of the economy.
Falola said: “The NLPGA for 13 years has consistently held an annual international conference which is the premier industry event that brings together major players in one location. The conference in 2022 in collaboration with the Nigeria LNG Limited (NLNG) celebrated the 15th year anniversary of uninterrupted supply of domestic liquefied petroleum gas (LPG) in the country. The intervention saw supply of LPG grow from 60000MT in 2007 to over 1.3 million MT in 2021 (a growth of over 1000 per cent). This scheme has encouraged massive investments in LPG infrastructure and created over 150,000 jobs in the sector.
“This year’s conference offers opportunities to build relationships with industry participants and gain knowledge of the unique financing, insurance cover and other business-enabling requirements of the sector. This year, 2023, the conference and exhibition will hold on November 7 and 8 at the Petroleum Technology Development Fund Towers in Abuja, FCT. The theme of this year’s event is “LPG: Bridging the Energy Transition.”
He stated that the energy transition is unfolding in Nigeria and the NLPGA as it has done for several years at our past conferences, shared the huge potentials and opportunities that lay with the usage of LPG.
Sessions that will be discussed by industry experts, he stated, include Autogas as the alternative to fuel subsidy which is a germane issue in our national discuss currently; recommendation for Autogas policy and rollout; technology in in LPG; opportunities for the youth; lifestyle impact and economic empowerment for women as discussed by women in LPG; identifying financial incentives for the “Decade of Gas”; the Petroleum Industry Act; multiplier effects in LPG sector; LPG: Boosting revenues – adding weight (sales), cutting losses.
“These sessions will serve as sub themes to further drive home the main theme of the conference, LPG: Bridging the Energy Transition. This is an interesting time in the gas industry particularly in the country.
“PricewaterhouseCoopers (PwC) Nigeria estimates that economic activities stimulated by the domestic utilization of Nigeria’s recoverable proven gas reserves has the potential to generate a Gross Value Add (GVA) of $18.3 billion yearly to the domestic economy and $10.5billion through direct economic value addition with LPG contributing $1.3 billion and its excess allied components propane and butane contributing a further $2 billion of this, which is in comparison to generating annual export value of $7 billion.
“Harnessing the country’s proven reserves for domestic utilization can also support 6.5 million fulltime equivalent jobs yearly.”
