The Lagos State government would be deploying resources to enhance infrastructure development within the oil and gas sector that will facilitate and encourage investors.
The infrastructure is targeting expansion of business in the downstream sector especially in the Liquified Natural Gas (LNG), import terminals, pipelines, among others.
Permanent secretary, Ministry of Energy and Mineral Resources, Ms. Sholabomi Shasore, stated that the state government would also give priorities to other strategic infrastructure aimed at improving the reliability of gas supply in the state.
Shasore gave the assurance in her goodwill message delivered at the 17th edition of the Oil Trading and Logistics (OTL) Africa Downstream Week, 2023, on Tuesday in Lagos.
Shasore, who was represented by Mr Antonio Ayodele, a representative of the ministry, said that now was the time for more synergy in the oil and gas downstream and midstream sector.
She said: “It is time to be innovative and to collaboratively drive the market through its murky waters, and it is also time to bring the market into a new horizon. It is time to forge ahead into the new. Here in Lagos State, our policy priorities will support initiatives that will drive the market in this regard.
“These will include strategic infrastructure like LNG import terminals and pipelines, to improve the reliability of gas supply in Lagos State.
We are pursuing an ambitious energy agenda that emphasises renewable sources, gas utilisation, and energy efficiency.
“We are committed to stimulating the demand by facilitating switching to gas use across industrial, power and transport sectors. Incentives like intervention funds and collaboration through federal agencies are planned.
“Through initiatives like our one-stop online portal, the state through the ministry strives to ease market entry and promote an enabling environment for downstream operators in Lagos State. We are committed to supporting your business growth and excellence,” she assured.
Ayodele, on his part, disclosed that, the IBILE Oil Gas Corporation (IOGC), Lagos State’s key implementation agency, was collaborating with the private sector, federal government and state agencies, kit conversion, and other related Original Equipment Manufacturers (OEM), to ensure a smooth transition for alternative fueling of vehicles.
He said that the agency was mandated to invest and transit the Lagos State Government to alternative fueling solutions (natural gas, electricity, hydrogen or bio-fuels), with a clear objective to reduce emissions, lower cost and increase energy security.
Ayodele, therefore, stated that, some of the plans included providing adequate infrastructure development such as conversion centres, refuelling stations, charging stations, and distribution networks.
We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →
Join Our WhatsApp Channel
