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Author: Yunus Yusuf

  • FCCPC reaffirms commitment to consumer protection, market regulation

    Regulations

    By Yusuf Yunus

    Lagos, June 29, 2024 (NAN) The Federal Competition and Consumer Protection Commission (FCCPC) has reiterated its commitment to protecting consumers, promoting fair competition, and ensuring the safety of products in the market.

     

    Its Acting Executive Chairman, Dr Adamu Abdullahi, gave the assurance in an interview with newsmen after a surveillance exercise by the commission at some steel companies in Lagos State and Ogun on Friday.

     

    The companies include African Foundries, Monarch Steel Mill Ltd., and Kam Steel Integrated Company, all on Ikorodu-Sagamu Expressway.

     

    The FCCPC boss said that intelligence and surveillance reports obtained by the commission indicated that certain companies were involved in anti-competitive behaviour.

     

    “This is why we decided to visit three of these companies to examine their operations and review their records, as well as analyse ten of their products.

     

    “We aim to identify any false, misleading, and deceptive practices that could harm consumers,” he stated.

     

    He said that one major concern noted was the discrepancy in product specifications.

     

    “For instance, consumers purchasing 12mm rods often receive 10mm rods instead, which contributes to the building collapses we frequently witness.

     

    “Ensuring the safety of our people is a core responsibility, and these deceptive practices are unacceptable,” said Abdullahi.

     

    He stressed the need for thorough inspections and transparency.

     

    “We are looking at their processes to determine if any corners are being cut. If we find evidence of such practices, we will apply the full extent of the law,” he added.

     

    Abdullahi, also said that the companies visited cooperated with the commission’s officials by providing information needed during the surveillance exercises.

     

    He said, “So far, they have been very cooperative. They consulted their lawyers, who advised them to comply with our investigation, and they have provided us with the required information.”

     

    On collaboration with relevant industry bodies, he said that FCCPC had been working with the Steel Manufacturing Association, the Manufacturing Association of Nigeria, and the Standards Organisation of Nigeria, among others.

     

    He also said that the Council for the Regulation of Engineering in Nigeria (COREN) had provided technical advice, ensuring the commision was guided by industry standards.

     

    Addressing the timeline for the investigation, he explained, “The duration depends on the volume of information gathered.

     

    “Some investigations have taken longer due to the sheer amount of data involved.

     

    “We assure you that we will work diligently to conclude as quickly as possible and publish our findings.”

     

    Regarding market impact and potential punitive measures, he noted that sanctions depend on the nature of the offence and would be on strictly adhering to the guidelines set out in the FCCPC Act.

    (NAN)(www.nannews.ng)

    YO/AWA
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    Edited by Olawunmi Ashafa

  • Dangote Industries Ltd. confirms minor fire outbreak at its refinery

    Fire

     

    By Yunus Yusuf

    Lagos, June 26, 2024 (NAN) Dangote Industries Ltd. has confirmed a minor fire incident at its Effluent Treatment Plant (ETP) in Lagos on Wednesday and which was swiftly contained.

     

    Mr Anthony Chiejina, the Group Head of Corporate Communications at Dangote Group, disclosed this in a statement in Lagos.

     

    Chiejina said: “There is no cause for alarm as the refinery is operating and there is no recorded injury or harm to any of our staff on duty.”

     

    He said that emergency services responded on time to contain the incident.

     

    Although initial reports said no injuries were sustained.

     

    According to him, the cause of the fire is currently unknown, and investigations are underway to determine the extent of the damage and the cause of the incident.

     

    The News Agency of Nigeria (NAN) reports that the Dangote Refinery is a massive project with a projected refining capacity of 650,000 barrels per day. (NAN)

     

    YO/ AWA

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    Edited by Olawunmi Ashafa

  • Sahara Energy targets zero carbon emissions by 2060

     

    Emission

    By Yunus Yusuf

    Lagos, June 25, 2024 (NAN) Sahara Energy has unveiled its target of achieving zero carbon emissions from its oil and gas operations by 2060.

     

    The company, along with its sister companies in the energy value chain, has commenced arrangements to reduce carbon emissions and earn carbon credits for a sustainable future.

     

    The agenda was disclosed at a news conference, tagged, “Carbon Footprint and the African Narrative”,  held by Sahara Group and Asharami Square in Lagos on Tuesday.

     

    Mr Wole Ajeigbe, Group Project Manager, Asharami Energy,  while speaking on “Decarbonisation of Africa’s Upstream Operations”, said Sahara Energy was building a sustainable energy future with an ambitious but pragmatic approach to its upstream carbon net zero journey.

     

    According to him, efforts are ongoing at its seven oil-producing assets across Nigeria to ensure that operations at the sites are considerate of global warming.

     

    Ajeigbe said that the net zero plan would be achieved gradually by reducing and minimising carbon emissions on a yearly basis.

     

    He said that the company had some gas commercialisation projects which were expected to be completed by 2025 to 2026.

     

    He listed the strategies to include; elimination of gas flare across its upstream operations; reduction in freshwater usage during operation; and making use of Carbon Capture Utilisation and Storage (CCUS) among others.

     

    Emphasiaing its determination, he said that the company had already joined the global group of CCUS, emerging as the first African company in the forum.

     

    Ajeigbe said, to ensure oil and gas continue to be used to meet Africa’s energy demands, the sector needed to decarbonise its operations quickly.

     

    He noted that the energy demand and usage in Africa would increase significantly in coming years,

     

    Ajeigbe stressed the need for the government to create an enabling environment that would stimulate investments and grant fiscal incentives on gas projects such as tax holidays, funding recurities, risk mitigation among others.

     

    The government and stakeholders, according to him, also need to encourage availability of capital pools; improve bankability of gas projects; give support to projects that have taken decarbonisation seriously; and attract skills and develop the capabilities needed for the energy future.

     

    Regional Director, West Africa, Ford Foundation, Dr Chichi Aniagolu-Okoye, said although Africa was contributing about  four per cent to global warming, the continent has been severely affected by the phenomenon.

     

    She said the fact that Africa holds up to 17 per cent of the global population, yet contributes just four per cent to global carbon emissions.

     

    This, he noted, means that the continent could do more for a sustainable environment through careful and strategic planning.

     

    Aniagolu-Okoye said that Africa must focus not only on challenges, but also on opportunities that global warming presents.

     

    “There are numerous opportunities to place Africa firmly at the forefront of climate debate and the media should lead the campaign,” she said.

     

    The Director, Governance and Sustainability, Sahara Group, Ms Ejiro Gray, spoke on most viable solutions for mitigating carbon emissions and meeting Africa’s development.

     

    According to her, these solutions include natural gas development; increase in use of renewables; protection and rehabilitation of African natural carbon sinks.

     

    Gray said that other were innovation in low cost/low emissions clean energy solutions; carbon culture storage/carbon capture and re-utilisation and utilisation of domestic knowledge.

     

    She said that Sahara had continued to make improvements to its operations, to reduce the carbon footprint and by extension, the continent footprint.

     

    Gray listed some of the strategies to include; increase use of renewables; gas commercialisation; research and development and sustainable energy and carbon sinks.

     

    Others are Carbon Capture Usage and Storage (CCUS); tree planting initiatives; and awareness campaigns for youths, among others.

     

    The Head, Corporate Communications, Sahara Group, Bethel Obioma, said the Asharami Square has come to stay and would be having training and mentorship for journalists.

     

    Obioma said that it would also be having Asharami Awards to appreciate those works that had contributed to building sustainability in Africa.

     

    He said that the body was already in partnership with University of Lagos and Pan Atlantic University in the quest to upscale skill on sustainability.(NAN)(www.nannews.ng)

    YO/AWA

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    Edited by Olawunmi Ashafa

  • DAPPMAN denies importing dirty fuel

     

    Fuel

    By Yunus Yusuf

    Lagos, June 25, 2024 (NAN) The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) said that none of its members and private fuel depots had imported fuel outside regulatory specifications.

     

    DAPPMAN said this in a statement on Monday night in Lagos, following the allegations that some marketers were importing dirty fuel.

     

    The association said that no depot imports fuel outside the specifications approved by the Nigerian Midstream and Downstream Regulatory Authority (NMDPRA).

     

    It said, ” NMDPRA had initially objected to offtakes by ‘our daughter vessels’ from import ‘mother vessels’, via Ship-to-ship operations which usually take place offshore Lome.”

     

    The association said that the move  was vehemently protested and resisted by downstream operators and had since been rescinded.

     

    DAPPMAN said that between February and May 2024, NMDPRA had allowed AGO imports with maximum sulphur content of 200/ppm.

     

    “However this was followed by another move, by the regulator, to fast forward the country target date of the implementation of the 50/ppm sulphur limitation on PMS and AGO imports, to June 1 from Dec. 31, 2024.

     

    “DAPPMAN will continue to work with all stakeholders, willingly to provide safe, healthy fuels to all Nigerians competitively giving them great and affordable fueling options for their daily activities,” it added. (NAN)(www.nannews.ng)

    YO/ACA/AWA

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    Edited by Chidinma Agu/Olawunmi Ashafa

     

     

     

  • IOCs plotting for our failure – Dangote Refinery

     

    Refinery

    By Yunus Yusuf

    Lagos, June 23, 2024 (NAN) Mr Devakumar Edwin, the Vice President of Dangote Oil and Gas Industries, has accused International Oil Companies (IOCs) in Nigeria of trying to frustrate the survival of Dangote Oil Refinery and Petrochemicals.

    Edwin told the newsmen in Lagos on Sunday.

    Edwin alleged that the IOCs were deliberately and wilfully frustrating the refinery’s efforts to buy local crude by jerking up high premium price above the market price.

    He claimed that this forced Dangote to import crude from countries as far as the United States, with its attendant high costs.

    Edwin lamented the activity of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in granting licences, indiscriminately, to marketers to import dirty refined products into the country.

    He said, “The federal government issued 25 licences to build refinery, and we are the only one that delivered on promise.

    “In effect, we deserve every support from the government. It is good to note that from the start of production, more than 3.5 billion litres, which represents 90 per cent of our production, have been exported.

    “We are calling on the federal government and regulators to give us the necessary support in order to create jobs and prosperity for the nation,” he said.

    He claimed that while the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) was trying its best to allocate the crude for the company, the IOCs were deliberately and willfully frustrating all efforts to buy the local crude.

    “It would be recalled that the NUPRC, recently met with crude oil producers as well as refineries owners in Nigeria, in a bid to ensure full adherence to Domestic Crude Oil Supply Obligations (DCSO), as enunciated under section 109(2) of the Petroleum Industry Act (PIA).

    “It seems that the IOCs’ objective is to ensure that our Petroleum Refinery fails. It is either they are deliberately asking for ridiculous/humongous premium or, they simply state that crude is not available.

    “At some point, we paid six dollars over and above the market price. This has forced us to reduce our output as well as import crude from countries as far as the US, increasing our cost of production.

    “It appears that the objective of the IOCs is to ensure that Nigeria remains a country which exports Crude Oil and imports refined Petroleum Products.

    “They (IOCs) are keen on exporting the raw materials to their home countries, creating employment and wealth for their countries, adding to their GDP, and dumping the expensive refined products into Nigeria – thus making us to be dependent on imported products,” he added.

    Edwin said: “It is the same strategy the multinationals have been adopting in every commodity, making Nigeria and Sub-Saharan Africa to be facing unemployment and poverty, while they create wealth for themselves at our expense.

    “This is exploitation – pure and simple. Unfortunately, the country is also playing into their hands by continuing to issue import licences, at the expense of our economy, and at the cost of the health of the Nigerians who are exposed to carcinogenic products.

    “In spite of the fact that we are producing and bringing out diesel into the market, complying with ECOWAS regulations and standards, licences are being issued, in large quantities, to traders who are buying the extremely high sulphur diesel from Russia and dumping it in the Nigerian Market.

    “Since the US, EU and UK imposed a Price Cap Scheme from 5th February, 2023 on Russian Petroleum Products, a large number of vessels are waiting near Togo with Russian ultra-high sulphur diesel and, they are being purchased and dumped into the Nigerian Market.

     

    “In fact, some of the European countries were so alarmed about the carcinogenic effect of the extra high sulphur diesel being dumped into the Nigerian market that countries like Belgium and the Netherlands imposed a ban on such fuel being exported from its country, into West Africa, recently.

    “It is sad that the country is giving import licences for such dirty diesel to be imported into Nigeria when we have more than adequate petroleum refining capacity locally,” he said. (NAN)(nannews.ng)

    YO/AWA

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    Editedby Olawunmi Ashafa

  • PETAN partners Abia govt. to own, operate upstream assets

    PETAN Chairman, Wole Ogunsanya FNSE led a delegation of PETAN EXCO and members on an official visit to the Executive Governor, His Excellency, Dr Alex  Otti, OFR to propose for partnership to own and operate upstream assets in Abia State.

     

     

    Asset

    By Yunus Yusuf

    Lagos, June 21, 2024 (NAN) The Petroleum Technology Association of Nigeria (PETAN) is planning to partner with the Abia State Government on a Joint Venture (JV) model to own and operate upstream assets in the state.

    Dr Innocent Akuvue, Publicity Secretary of PETAN, disclosed this in a statement on Friday in Lagos following PETAN’s official visit to Abia State Governor, Dr Alex Otti.

    Mr Wole Ogunsanya, Chairman of PETAN, presented the proposal to the governor, suggesting a joint venture between PETAN and the Abia Government.

    According to him, the partnership aims to identify and develop potential upstream assets in the state.

    Ogunsanya explained that the joint venture would align with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC)’s support for securing assets under its marginal field scheme.

    The chairman noted that PETAN would leverage its capacities and capabilities to develop these assets to first oil.

    He noted that PETAN had identified 53 existing wells and 105 capped wellheads within Abia.

    “The economic benefits of our value proposition to Abia State, Your Excellency, include major internally generated revenue (IGR) and direct foreign currency earnings.

    “Others tax accruals, employment generation, and support of the Presidential Directive to increase oil and gas production in the country.

    “This will also develop local content through the active engagement of a value-delivering consortium, patronising existing in-country entities with the capabilities to deliver cost-effective management strategies,” Ogunsanya said.

    In response, Governor Otti welcomed the proposal and instructed his Commissioner for Petroleum and Mineral Resources to provide maximum support to PETAN to ensure the project’s realisation.

    He also promised to liaise with the NUPRC to lend his support.

    The News Agency of Nigeria (NAN) reports that PETAN is an association of Nigerian indigenous technical oilfield service companies operating in both the upstream and downstream sectors of the oil industry.

    The association aims to bring together Nigerian oil and gas entrepreneurs to create a forum for the exchange of ideas with major operators and policymakers. (NAN)(www.nannews.ng)

    YO/GOM/AWA
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    Edited by Gregg Mmaduakolam/Olawunmi Ashafa

  • TotalEnergies launches Ubeta gas development field  

    TotalEnergies launches Ubeta gas development field

    Gas
    By Yunus Yusuf
    Lagos, June 20, 2024 (NAN) TotalEnergies, operator of OML 58 onshore license in Nigeria with a 40 per cent interest, says it has taken the Final Investment Decision (FID) for the development of the Ubeta gas field.

    The Ubeta gas field is a joint venture operation with the Nigerian National Petroleum Corporation Ltd., with 60 per cent.

    Mr Mike Sangster, Senior Vice President Africa, Exploration & Production at TotalEnergies said this in a statement on Thursday in Lagos.

    Sangster said that Ubeta gas field is located about 80 km northwest of Port Harcourt in Rivers state, the OML 58 license contains two fields currently in production, the Obagi oil field and the Ibewa gas and condensate field.

    “OML58 gas production is processed in the Obite treatment center and supplied to both the Nigerian domestic gas market and to Nigeria LNG (NLNG) plant.

    “Also located in OML58, the Ubeta gas condensate field will be developed with a new 6-well cluster connected to the existing Obite facilities through a 11 km buried pipeline.

    “Production start-up is expected in 2027, with a plateau of 300 million cubic feet per day (about 70,000 barrels of oil equivalent per day including condensates).

    ” Gas from Ubeta will be supplied to NLNG, a liquefaction plant located in Bonny Island with an on-going capacity expansion from 22 to 30 Mtpa, in which TotalEnergies holds a 15 per cent interest, ” he said.

    The TotalEnergies boss said that Ubeta is a low-emission and low-cost development, leveraging on OML58 existing gas processing facilities.

    He said that the carbon intensity of the project will be further reduced through a 5 MW solar plant currently under construction at the Obite site and the electrification of the drilling rig.

    “TotalEnergies is working closely with NNPCL to enhance local content, with more than 90 per cent of manhours which will be worked locally.

    “Ubeta is the latest in a series of projects developed by TotalEnergies in Nigeria, most recently Ikike and Akpo West.

    “I am pleased that we can launch this new gas project which has been made possible by the Government’s recent incentives for non-associated gas developments.

    ” Ubeta fits perfectly with our strategy of developing low-cost and low-emission projects, and will contribute to the Nigerian economy through higher NLNG exports”, Sangster added.(NAN) (www.nannews.ng)

    YO/IKU
    Edited by Tayo Ikujuni

  • Nigeria’s 12 oil bid round will be transparent – FG

     

    Bidding

    By Yunus Yusuf

    Lagos, June 11, 2024 (NAN) The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has expressed the commission’s determination to conduct Nigeria’s 2024  bid round in a transparent manner.

     

    Mr Gbenga Komolafe, the Chief Executive of the commission, gave the assurance on Tuesday during the 2024 Pre-bid conference in Lagos.

     

    The News Agency of Nigeria (NAN) reports that the theme of the conference is, “Unveiling Nigerian Energy Development Strategies: 2024 Licensing Round”.

     

    He said that the bid would be in accordance with Section 76 (1) of the Petroleum Industry Act (PIA).

    Komolafe said said that Nigeria is an attractive jurisdiction for investment, adding that the country has a stable regime, driven by laws.

    According to him, Nigeria is a stable political environment that encourages businesses in a conducive atmosphere.

    “The 2024 bidding round is meant for investors with financial capacity and technical competence.

    “In the past, the award of oil blocks culminated to the non-development of over 90 per cent of marginal fields, thus denying the federal government of reaping the intended benefits.

    “This is because such awards were not based on technical and financial considerations,” he said.

    The NUPRC boss said that the recent Presidential Executive Orders issued were aimed at improving the efficiency and attractiveness of Nigeria’s oil and gas sector.

    He said that it would culminate in further increasing the nation’s oil and gas reserves.

    He added that as at April, it was estimated that Nigeria’s oil reserve was at 37.5 billion barrels of crude oil and condensate reserves, and 209.26 trillion cubic feet of natural gas reserves.

    He said that the commission had engaged in several roadshows, held in Houston U.S., Miami, London and Paris, among others.

    “We are not just a regulator, but a business enabler. We urge stakeholders to participate in the exercise.

    “It will enable us unprecedented opportunity to unlock Nigeria’s vast hydrocarbon potential, attract investment and propel our nation towards greater economic prosperity and shared prosperity,” he stated.

    He said each block had been chosen for its potential to bolster the nation’s reserve and economic posterity.

    Komolafe said that the total number of blocks were 12 as at planning stage.

    “But they were later able to gather data to offer more oil blocks. So, it is increasing the number of blocks and the details willl be made available on the portal,” Komolafe said.

    The NUPRC boss also said that the commission had issued a licensing round guideline and published the grand plan.

    Komolafe said that the blocks on offer have extensive 2D and 3D seismic coverage including logic and analog data.

    According to him, the objectives of the exercise are; to grow oil, gas reserves, to boost production, to enhance Nigerian content development and attract investment among others.

    He told prospective investors that  notwithstanding, the progression of energy transition, fossil fuel would continue to play a key role in the energy provider globally.

    The NUPRC boss said that there were plans to also conclude the 2022 block auctions alongside the 2024 oil bid round, while it had offered seven oil blocks in 2022.

    He claimed that investors spend less in exploration and production to produce oil in Nigeria because of the depth of the wells.

    According to him, the bid round is scheduled to last for nine months, with details on the portal.

    He expressed optimism that investors would choose Nigeria, noting that the nation has a stable democracy with a location close to the coastline of 900 meters.

    “Nigeria’s has ease of access to the Europe, American market, attractive fiscal regime; effective regulatory regime; presence of IOCs with confidence in Nigeria; ease of discovery and high productivity, among others.

    Also, the Executive Director of Schlumberger, Dr Nosa Omorodion, said, “This is an opportunity for NUPRC to demonstrate that Nigeria is ready for business.”

    He also said that integrity remained important while ensuring that things were done according to the rules.

    He stressed that corporate governance and competency were key.

    He said that the new bloc that would be placed should be published and made open for perspectives investors to see.

    Mr Hans Nijkamp, Gas and Commercial Director, Shell E&P Africa, said: “Shell has been in Nigeria since 1937 and we are ready to stay for a very long time.

    Noting that the deepwater is the company’s ‘playground’ for the future, Hans said Nigeria is currently on track.

    He added, “The fiscal regulatory framework makes it look like Nigeria is already in the future.”

    He explained that the company is determined to focus on oil and gas in the deepwater and taking the gas to the domestic market through the NLNG.

    According to him, the PIA is a groundbreaking moment, as it has improved things, significantly, in the sector.

    He, however, urged the government to address in the area of non-associated gas.

    “The PIA and the Executive Order signed by Mr President together makes Nigeria more competitive,” he said.

    NAN also reports that about 300 participants attended the pre-oil bid round conference. (NAN)(www.nannews.ng)

    YO/AWA
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    Edited by Olawunmi Ashafa

  • Lions club seeks support for underprivileged

     

     

    Support

    By Yunus Yusuf

    Lagos, June 10, 2024 (NAN) The Lions Club of District 404B4 has sought the support of Nigerians in donating to the cause of humanity to help  the less privileged.

    Its district governor, Mr Samson Abodunrin, made the appeal during the charter presentation, induction and fundraising of the club in Lagos.

    “Donate to the cause of humanity. Any money donated is for the underprivileged individuals in the society.

    “This morning you have had your breakfast, and probably lunch, while dinner is already waiting. But the question is, what about the children that haven’t eaten, and those in the hospital, and those that are homeless?

    “We have children that go to school, and have no shoes or books.

    “We don’t have millions or billions, but what we have is a golden heart to help the less privileged.

    “I am challenging all our Lions and friends of lions to support us to help the needy,” he said.

     

    Abodunrin said that the club had contributed immensely to the country, with several projects built across the nation’s hospitals.

    “We have the cancer centre at the Ebute Metta Medical Centre, we also have some facilities across hospitals in Lagos, and also sponsored children on scholarships,” he said.

     

    Dr Babatunde Ipaye, a former Commissioner for Health in Ogun, said he had benefited immensely from the club.

    Ipaye, who chairman of the event, said he was a beneficiary of the club’s gesture when he was young.

    “My school fees in 1986 was N286 and my parents couldn’t pay it. I was given a scholarship of N1,000 by this club then, and I want to thank you for the great work you are doing.

    I want to say that your N1,000, N500 and so on went a long way,” he said.

    Highlight of the event was the induction of 14 new members.  (NAN)(WWW.NANNEWS.NG)

    YO/FAA

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    Edited by Folasade Adeniran

  • FG commends Tetracore Energy on 10 MMscfd LNG facility investment

    By Yunus Yusuf

    Mr Ekperikpe Ekpo, the Minister of State for Petroleum Resources (Gas), has commended Tetracore Energy for its investment in a 10-million standard cubic feet per day (MMscfd) LNG facility.

     

    Ekpo made the commendation at the inauguration of Tetracore Energy Group’s 6.1 MMscfd Compressed Natural Gas (CNG) facility and the groundbreaking ceremony for the 10 MMscfd LNG plant at Atakobo, along Benin-Sagamu Expressway.

    The minister stated that the CNG and LNG facilities, aimed at promoting energy security in Nigeria, also promote cleaner energy and ensure energy security for the country.

    He praised Tetracore Energy Group for its vision and dedication to advancing Nigeria’s gas infrastructure.

    “The commissioning of your 6.1 MMscfd CNG facility and the groundbreaking ceremony for your 10 MMscfd LNG facility are significant steps towards enhancing our nation’s energy security.

    “These developments are critical components of our strategy to diversify energy sources, promote cleaner energy, and ensure energy security for our people.

    “Natural gas is a pivotal element in the global energy transition towards a more sustainable energy system,” said Ekpo.

    The minister highlighted that natural gas provides a cleaner alternative to traditional fossil fuels and supports the integration of renewable energy sources.

    He noted that the LNG facility would play a crucial role in expanding in-country processing capabilities and delivering feedstock to gas-based industries nationwide.

    “This project will drive economic growth, create jobs and improve the quality of life for our citizens.

    “The use of CNG in transportation will reduce reliance on imported fuels and lower greenhouse gas emissions, aligning with our commitment to the Paris Agreement and our national climate goals,” he added.

    Representing the Ogun Government, Dr Ola Aikulola,the Permanent Secretary of the Ministry of Industry, Trade and Investment, expressed gratitude to Tetracore Energy Group for their milestone achievement.

    He stated that Tetracore’s efforts in gas penetration and utilisation aligned perfectly with Gov. Dapo Abiodun’s goals for sustainable energy solutions in the state and the country.

    “This initiative is a testament to the visionary leadership of President Bola Tinubu to deepen the penetration of natural gas for our utilisation.

    “This project will create more jobs for the people of Ogun state, stimulate economic growth, and contribute significantly to the development of our industrial base,” Aikulola said.

    Mr Sesan Odukoya, Head of the Oil and Gas Department at the Lagos State Ministry of Energy and Mineral Resources, congratulated Tetracore Energy Group on its achievement.

    Representing Gov. Babajide Sanwo-Olu, Odukoya emphasised the strategic partnership between Lagos and Ogun states in developing CNG and LNG facilities to enhance energy security and promote clean energy.

    In his remarks, Mr Olalekan Williams, Chief Executive Officer of Tetracore Energy Group,
    said that the group could deliver up to 70 million standard cubic feet of gas per day to multiple customers.

    He highlighted the state-of-the-art CNG satellite complex, which includes a 10 MMscfd gas delivery facility, a 6.1 MMscfd CNG delivery and loading facility, and a 2.1-megawatt power generation plant.

    Williams thanked both the federal and state governments for their support, policies and initiatives that made the project a reality.

    He emphasised Tetracore’s dedication to ensuring that their operations benefit all stakeholders, from employees to the communities where they operate. (NAN)(www.nannews.ng)
    YO/AWA
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    Edited by Olawunmi Ashafa