By Vivian Emoni
NIPCO Group says it has invested approximately two billion dollars in Nigeria’s oil and gas sector, covering pipelines, CNG, LPG and retail infrastructure.
Mr Nagendra Verma, Managing Director, NIPCO, disclosed this on Thursday while briefing newsmen on the company’s developments in Nigeria’s oil and gas sector.
“Over the years, the group has invested approximately two billion dollars in Nigeria’s oil and gas sector,” Verma said.
He said the investments covered pipeline infrastructure, CNG facilities, fuel retail outlets, Automotive Gas Oil and Premium Motor Spirit infrastructure.
They also included LPG and propane facilities, logistics, distribution networks and other energy-related investments, according to the managing director.
“NIPCO investments demonstrated its commitment to supporting Nigeria’s energy security and infrastructure development,” he said.
Verma said NIPCO currently operates about 700 PMS, AGO and LPG retail outlets across Nigeria, strengthening its downstream energy market presence.
He said the company had also secured Gas Distribution Licences under the Petroleum Industry Act for four gas distribution zones.
“The licences provide a regulatory and infrastructure platform for NIPCO’s continued expansion in Nigeria’s gas sector,” Verma said.
He said NIPCO was focused on sustainably monetising Nigeria’s abundant natural gas resources through infrastructure development and increased access to alternative fuels.
Verma described NIPCO as a private-sector pioneer in developing LPG storage and distribution infrastructure in Nigeria.
He said the company had consistently supported government initiatives aimed at reducing dependence on PMS and promoting cleaner, efficient energy solutions.
“Today, more than 10,000 vehicles in Benin City are estimated to operate on CNG,” he said.
Verma said the development reflected NIPCO’s long-standing contribution to the development and growth of Nigeria’s CNG ecosystem.
“NIPCO has also invested significantly in natural gas pipeline infrastructure to strengthen gas connectivity across the country,” he said.
He said the investments were designed to support the growing energy requirements of Nigeria’s industrial and commercial sectors.
Verma said NIPCO was developing an 18-inch, 80-kilometre gas pipeline from Sagamu to Ibadan in south-western Nigeria.
He said gas pipeline infrastructure was also being developed in the Lekki Free Trade Zone, Lagos State, to improve access to natural gas.
Verma said: “Construction is further progressing on the Sagamu-Abeokuta gas pipeline.
“The project is expected to enhance the availability and accessibility of natural gas for industrial and commercial users.”
The managing director said NIPCO secured Gas Distribution Licences covering four Gas Distribution Areas under the Petroleum Industry Act 2021.
He said the company had made substantial progress developing gas infrastructure and commercial opportunities across the licensed areas.
Alhaji Abdulkadir Aminu, Group Executive Director, NIPCO, said the initiatives aligned with government’s objective of deepening indigenous gas utilisation.
He said the investments would also expand access to reliable and affordable gas for consumers and businesses.
“Through these investments, NIPCO continues to support Nigeria’s energy transition, promote CNG and LPG adoption, strengthen energy access and contribute to economic growth,” Aminu said. (NAN)
VOE/KTO
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Edited by Kamal Tayo Oropo
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