FG To Unveil Techno Oils LPG Terminal
The Federal Government's job creation efforts have begun to bear fruit as Techno Lagos Oil Limited is set to open an automated Liquefied Petroleum Gas (LPG) terminal that will create 2,000 jobs at Kirikiri in Apapa, Lagos.
State Oil Minister Timipre Silva is expected to inaugurate the plant on November 18.
The construction of the terminal with the capacity of 8400 tons of food gas began in 2016.
The facility will be the fifth such terminal to be built in Lagos, Nigeria's economic hub, home to some of the largest private oil and gas companies.
Techno Oil Terminal has been described as a major contributor to Nigeria's release of 187 trillion cubic feet of gas reserves that remain largely untapped.
It was built by CAKASA Nigeria Ltd. in cooperation with a foreign technical partner who signed a contract for the construction of the terminal in November.
The project was financed by a consortium of banks. However, the management of "Techno Oil" did not specify the cost of the project.
The Managing Director of Techno Gas and Power, Mr Collins Onyeama, told newsmen in Lagos yesterday that the facility would contribute to the LPG expansion project of the federal government.
“The terminal will generate revenue for all levels of government through taxes and fees and more importantly, create over 2,000 direct and indirect jobs for the majority of the Nigerian population,” he said.
Onyeama said MT Pertusola has since discharged product from the OSO-Butane Bonny terminal into the terminal's rivers.
The installation is a big boost for the government, he said, as it seeks to deploy LPG infrastructure, which he said is currently inadequate in Nigeria.
The CEO said the investment would also make a significant contribution to reducing greenhouse gas emissions in the country.
He recalled that Techno Oil has embarked on a project to increase the consumption of LPG, which currently stands at about 400,000 metric tons per annum in Nigeria.
Techno Gas termed the commissioning of the plant as another milestone for the company following the inauguration of its historic LPG plant by the Vice President, Prof. Yemi Osinbajo last June.
The Chief Executive expressed optimism that the availability of cooking gas will stop Nigerians from using wood, kerosene and other fossil fuels for cooking.
He said Nigeria is home to over 170 million people but less than one million households use gas for cooking.
Nigeria continues to rank last in sub-Saharan Africa in terms of per capita LPG consumption, consuming 1.1kg compared to Ghana, which currently consumes 3.0kg, he said.
Techno Oil set up shop 21 years ago as a refining and distribution company selling Esso joint lubricants before expanding into other oil and gas fields.