The cost of importing petroleum products of all kinds into
The Principal Consultant, Blackgold, Dr.
at the ongoing two-day Nigerian Content Midstream/Downstream Oil and Gas Summit, with the theme: "Towards Maximising Potential in the Midstream and Downstream Oil & Gas Sector - A Local Content Perspective."
This was just as the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote, also disclosed at the event that Nigerian firm,
In her presentation at the summit, on the topic, "Challenges and opportunities in the Nigerian petroleum refining sector", Owo put
"
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Owo stated that the country had not done enough in building refining capacity, saying in 2015, about 65 modular refinery licenses were approved by the federal government.
According to her, of those 65, only few including
She said the refining sector had been tainted with, "uncertainty due to adverse effect of regulator, subsidy, poor maintenance, general operational failure, inconsistencies, supply of feedstock, vandalisation, piracy, all sorts and all kinds.
"The objective of this is just to bring out the fact that our consumption is high and our import is also very high."
Meanwhile, after the delivery of the first
Wabote, who disclosed this in his welcome address at the summit, said the agreement signing for the vessel construction between the two companies would be one of the key highlights of the
Wabote said that the vessel owned by a local indigenous company would further enhance the supply capability of the LPG across the country.
He explained that the agreement for the first vessel was signed in 2018, and that the vessel was delivered in 2020, noting that agreement for the second vessel was a sign of self-propelled growth for Nigerian indigenous companies in the midstream and downstream sectors of the oil and gas industry.
"As you may be aware, the
"Agreement for the first vessel was signed in 2018 and the vessel was delivered in 2020. I am pleased to note that agreement for the second vessel is being executed which is a sign of self-propelled growth for our indigenous companies in the midstream and downstream sectors of the industry", Wabote stated.
He, however, said the initiatives put in place by the Minister of State for
He said the Domestic LPG Expansion element of the programme targeted 20 million homes to increase the country's LPG penetration currently estimated at national average of 13 per cent.
He said a glimpse of the LPG value chain in the country presented another plethora of opportunities for which the board had also gone into partnership with some investors to develop different areas of the value chain.
Wabote maintained that the NCDMB's touchpoints in the LPG value chain covered inland LPG production, LPG jetties/terminals, storage facilities, inland transportation, cylinders manufacturing, bottling, and retail.
He added that their partnership investments in the gas value-chain included Partnership with
Others, according to him included "partnership with
"Partnership with Butane Energy to roll out LPG Bottling Plants and Depots in
"This represents about 10 percent of current LPG demand nationwide which will be produced in-country instead of being imported; Partnership with MOB Integrated Services for the construction of the
"The partnership includes the construction of a Cylinder Refurbishment plant, procurement of 80,000bottles of LPG Cylinders and acquisition of distribution assets consisting of Bridgers, bobtails and cylinder distribution trucks to enhance LPG penetration across the target catchment areas."
The executive secretary said the board also had partnership with Amal Technologies to set up plant in
He expressed delighted that the
Wabote said based the board's 10-year Strategic Roadmap to achieve 70 per cent Nigerian Content target in the Nigerian oil and gas industry by the year 2027, the midstream and downstream sectors of the industry represented key areas to derive and extract value to meet their set target.
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