Tuesday, January 31, 2023
Home Business NNPC-NIPCO consortium, Lekki Free Zone sign gas supply deal

NNPC-NIPCO consortium, Lekki Free Zone sign gas supply deal

A consortium of NNPC Gas Marketing Limited (NGML) and NIPCO Gas Limited has signed a multi-billion naira gas supply and sales deal with Lekki Free Zone Development Company (LFZDC) in line with the Federal Government’s energy transition plan to make gas the fuel of the nation.

The deal which was sealed in Lagos last week will see over 100 companies already established in the zone link up to the project which is expected to be completed in six months.

Managing Director, NIPCO Gas, Mr. Nagendra Verma, said that the company’s plan was to expand its gas distribution network across the country, adding that the company had very talented and experienced personnel and that for 14 years it has been supplying gas to Nigeria and “we will continue to supply consumers’ demand whenever the needs arise. We are considered the most preferred customer gas supplier in Nigeria. We are determined to support government efforts in making gas available in the country for power supply and industrial use to support the economy. We are developing gas infrastructure to help gas utilisation in Nigeria,” he said.

According to him, equipment for the project is being moved to the site and that the project would be completed in six months.   

The Managing Director, NNPC Gas Marketing Limited, Mr. Justin Ezeala, said that the gas company entered into negotiation with NIPCO, an industry leader in gas pipeline laying, customers’ connection. We have worked with NIPCO for many years and among all our partners NIPCO is one of the most consistent companies in the market today.

“When we came to LFZDC with NIPCO, of course, with NNPC Limited Group Chief Executive Officer, Mallam Kyari’s mandate,  we told  LFZDC Managing Director, Mr. Dai Shunfa, that NIPCO is the company they can deal with and I am happy today that LFZDC management listened to our advice. Before we arrived at the signing today, a series of meetings were held. We are really happy that all our efforts are not in vain. On CNC, we told the Managing Director that NIPCO is the most competent company in Nigeria today they can deal with. They understand the business,” he noted.

The consortium also signed a gas deal agreement with CCETC Lekki Power FZE to generate 14MW power for the zone.


CBN Gov, Emefiele unveils Nigerian National Domestic Card Scheme ‘AFRIGO’

Unveiling the first Central Bank-led domestic scheme card scheme in Africa in a virtual ceremony on Thursday, January 26, 2023, Emefiele said the new card scheme, done in collaboration with the Nigeria Inter-bank Settlement System (NIBSS), would provide more options for domestic consumers while also promoting the delivery of services in a more innovative, cost-effective and competitive manner.

Oil sector will drive Nigeria’s GDP growth to 3.5% in 2023- Minister

Fitch Solutions had estimated that Nigerian crude oil production will fall by 15.2 per cent in 2022 and by another 14.9 per cent in 2023.

BUA chairman, IFC meet in Lagos

Abdul Samad Rabiu, Chairman, and Founder of BUA Group on Tuesday, received a delegation from the International Finance Corporation (IFC) led by...


Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Transcorp Power adds 138MW to national grid, commissions rehabilitated GT Unit 20

Chief Executive Officer, Transafam Power Limited, Engr. Vincent Ozoude, expressed delight about the newly rehabilitated unit, which is able to power up to 100,000 homes in a year. 

Fuel scarcity: Oil workers threaten action, want fuel available at approved price

The union in a statement, urged the NMDPRA to compel all marketers and retailers to make the products available at approved price. 

Friesland Campina reconnects to Ikeja Electric after 22 years 

According to the Acting Head of Corporate Communications Ikeja Electric, Kingsley Okotie, the reconnection of Friesland Campina back to the grid was achieved through relentless effort of the Business Optimization team of Ikeja Electric.  

Egbin Power, Sahara Foundation upgrade Ijede Police station

The project, according to a statement, is in keeping with Egbin Power’s commitment to enhancing infrastructure development, socio-economic growth, and effective policing to promote safety and security in the company’s host communities.

Recent Comments