President Bola Tinubu has inaugurated a 40,000 cubic metre (CBM) liquefied petroleum gas (LPG) vessel, christened “MT Iyaloja (Lagos),” in Ulsan, South Korea, to deepen LPG availability and affordability.

The president, at the inauguration of the 40,000 CBM LPG vessel on Monday, said Nigeria was poised to deliver clean and sustainable energy solutions not just in-country but also across Africa and beyond.

The vessel owned by WAGL Energy Limited (an NNPC Ltd./Sahara Group Joint Venture) is a dual-fuel, fully refrigerated LPG carrier.

This latest addition brings WAGL’s total LPG vessel capacity to 162,000 CBM. Other vessels in the fleet include MT Africa Gas, MT Sahara Gas, MT BaruMK, and MT Sapet.

Represented by the minister of state for petroleum resources (Gas), Ekperikpe Ekpo, the president commended WAGL Energy Limited, NNPC Limited and Sahara Group for their strategic foresight.

Mr Tinubu, in a statement by the NNPC Ltd. management, also lauded the partners for their technical excellence and unwavering dedication to expanding Africa’s role in the global clean energy value chain.

In his remarks, group chief executive officer (GCEO) of NNPC Ltd, Bashir Ojulari, described WAGL’s LPG vessel as a great addition to gas development efforts in Nigeria.

The GCEO, represented by the executive vice president of gas, power and new energy, Olalekan Ogunleye, added that the vessel will be crucial in realising the impact of gas in Nigeria’s economic development.

Mr Ojulari said the NNPC Ltd was deepening its commitment to ensure LPG affordability, availability and access nationwide.

“NNPC Ltd. is proud to be a major shareholder in this indigenous company, which, in addition to the newly commissioned vessel, owns four other LPG vessels in its growing fleet, delivering over six million MT of LPG across West Africa over the last five years,” he added.

Also speaking, WAGL’s chairman/executive director at Sahara Group, Temitope Shonubi, said that the company’s expansion demonstrated its vision of responsibly driving efforts aimed at bridging the continent’s critical energy infrastructure gap.

“The addition of MT Iyaloja (Lagos) embodies the spirit of progress and empowerment championed by the iconic Alhaja Abibatu Mogaji, whose legacy we honour.

“Sahara Group is proud of its partnership with NNPC Ltd. and reaffirms its commitment to partnerships that drive energy access in Africa,” he added.

WAGL’s managing director, Mohammed Bello, said that the company was dedicated to expanding its integrated supply network across the entire energy value chain.

“WAGL already has plans to further expand the fleet within the next two years with the addition of a Small Gas Carrier and a Very Large Gas Carrier (VLGC),” he added.

The symbolic ribbon cutting of MT Iyaloja (Lagos), named in honour of Abibatu Mogaji (the late mother of President Bola Tinubu), was performed by her granddaughter, the Iyaloja-General of Nigeria, Folasade Tinubu-Ojo.

(NAN)