-By Felix Douglas
Presenting a slide during a panel session titled: “Emerging Trends in Storage and Distribution of Petroleum Across Africa and Beyond”, at Oil Trading Logistics (OTL), Africa Downstream held recently in Lagos, Chief Executive Officer of Ardova Plc and Chairman, Major Marketers Association of Nigeria (MOMAN), Olumide Adeosun, showed a roadmap and storage distribution of Africa.
He also showed the site of Nigeria’s largest Liquefied Petroleum Gas (LPG) storage facility that will come on stream later in 2023 with 20,000 metric tons in Ijora, Lagos.
Adeosun noted that LPG business should be explored since there is available market for it and for the fact that the country has already declared a Decade of Gas. There is also 5000 metric tons each.
He said the liquid business is an open market for all to take advantage to exploit rather than explore, “In gas infrastructure, there’s a lot of opportunities and it is our energy future consumption, therefore, we need to improve storage and distribution across the region.”
The MOMAN Chairman advocated for a government transition programme and urged stakeholders and government to demonstrate support, show regulatory framework, commitment of investment infrastructure and meet the citizens need of adoption to LPG as cooking and commercial gas over biomass.
There is need to build and develop capacity to source for long term investors while collaborating with other countries to work together.