The Group Executive Director/Chief Operating Officer, Nigerian National Petroleum Corpora-tion, NNPC, Downstream, Henry Obih, has appealed for more investment in Liquefied Petro-leum Gas, LPG.
The executive made the appeal at the opening of 14 LPG outlets by 11 Plc (formerly Mobil Oil Nigeria Plc). He pointed out that the low level of investment in the sector has worsened the availability of the product in the domestic market while stunting the level of consumption by Nigerians. And an industry approach needs to be adopted to increase LPG penetration in the nation’s domestic market.
“The country’s current LPG consumption of about 600,000 Metric Tonnes, MT, annually is not yet satisfactory. There are huge potential for the market because the World Bank statistics estimates that Nigeria’s consumption is about 3.2 million tons a year.
According to Obih, Nigerians consumed about 50,000MT of LPG in 2007 and in 2009 con-sumed 70,000MT but in 2017 consumed a high of up to 600,000MT of LPG.
“In spite of being the largest producer of the commodity in the region, its per capita is 2.3 kil-ograms a year as compared to Morocco and Ghana whose annual per capita stands at 6.27 and 9.45 kilograms respectively.”