Energy provider Asiko Group says it plans to contribute to Nigeria’s economic development with its in-country utilisation and gas penetration initiatives.

Alex Ogedegbe, Chairman of Asiko Group, made the commitment during the inauguration of the company’s 300 metric tonnes Liquefied Petroleum Gas (LPG) and Compressed Natural Gas (CNG) depot in Utesi, Ikpoba Okha Local Government Area of Edo.

According to him, the project invariably aligns with the Federal Government’s priority objective to attain five million metric tonnes of LPG consumption by 2023.

He said that the gas potential of Nigeria was enormous, and the LPG/CNG depot had been designed to provide much-needed energy solutions to the country and beyond.

“Today, we are excited to launch our 300 MT LPG and CNG depot. The multi-product gas depot promises to improve gas availability and distribution in the region.

“The LPG/CNG depot is poised to become a hub for a wide range of gas products. Under its licensing agreement, the depot is authorised to store Propane, LPG (Liquefied Petroleum Gas), CNG (Compressed Natural Gas), and Liquefied Natural Gas (LNG).

“Currently, it stores LPG and CNG, with plans for future development to enable the storage of LNG in the near future.

“The 300 MT depot, the biggest in Benin, marks an added step towards contributing to a clean energy future and the realisation of the federal government’s decade of gas initiative,” he said.

Mr Ogedegbe said Nigeria was endowed with up to 183 trillion cubic feet of gas deposit, but about five per cent of that deposit had yet to be consumed.

“Imagine how much we can distribute to Nigerian society and beyond if we have installations and facilities like this that we are commissioning today,” he said.

Abubakar Folami, a director at Asiko, said that the company had similar inland depots and plants across Nigeria, with an impressive inland Propane and LNG terminal currently under construction in Ijora, Lagos State.

In his remarks, the Utesi Community head, Monday Edo, said he was very happy about the project.

Mr Edo said that the LPG/CNG depot was not just a beacon of progress for the energy sector but also had a profound impact on the local community.

“The depot is expected to generate over 100 direct and indirect job opportunities, contributing significantly to the economic welfare of the region.

“The creation of these jobs underscores Asiko’s commitment to empowering and uplifting the economic activities of its host communities.

“Asiko is a leading provider of clean energy solutions in Nigeria, dedicated to delivering a comprehensive network of sustainable, accessible, and innovative clean energy solutions.

“With a focus on LPG, LNG, CNG, propane, and renewable energy, Asiko drives the region’s clean energy transition and ensures energy security,” he added.

(NAN)