NIPCO Gas Limited (NGL) has completed the construction of over 100 kilometers of gas pipeline, connecting Ogun State to Oyo State via the Lagos-Ibadan expressway, calling for the speedy completion of the Abuja-Kaduna-Kano (AKK) gas pipeline to deepen gas utilization in Nigeria.
Suresh Kumar, Managing Director of NIPCO PLC, disclosed this in his address to shareholders at the company’s 19th Annual General Meeting (AGM), held at the Abuja Continental Hotel.
According to him, the Nigerian government has done well and should be commended for its efforts in deepening gas utilization in Nigeria, but noted there is still a need for more concerted efforts in the areas of infrastructure by stakeholders in the industry to guarantee access to the products at ease.
He said, “Operators in the gas industry have based their hopes on the speedy completion of the Abuja-Kaduna-Kano (AKK) gas pipeline and the subsequent connection of more cities to the gas pipeline across the country.
“NIPCO Gas Limited (NGL) has continued to deepen domestic gas utilization through access to both CNG for auto use and piped natural gas for industrial usage.
“It has constructed and laid over 100 kilometres of gas pipeline and currently in Lagos – Ibadan expressway linking Ogun State to its neighbouring Oyo State via gas pipeline,” the MD said.
Kumar in his presentations noted that NIPCO Gas Limited (NGL) has embarked on the construction of three CNG refill stations in 2022, which are almost ready in the Federal Capital Territory (FCT) and environs to facilitate access to gas by motorists and other end users.
He equally emphasised that one of the CNG stations is the Abuja airport road station servicing which is almost ready to cater for the newly inaugurated mass transit buses for civil servants in the territory among other motorists.
The NIPCO MD/CEO therefore said, “NGL is entrenching its presence across the federation encouraging a switch to natural gas by motorists and industries as a preferred energy source through massive investment in infrastructure to improve access.
“It is also a stakeholder in the Federal Government National Gas Expansion Program with footprints in several states with conscious plans to cover the entire country soonest,” he added.
Despite the challenges associated with gas infrastructure, the MD said, “NIPCO has been able to pull through with a modest performance that has contributed to guaranteeing a good return on your investment.
“Our company will continue to act in concert with its peers in the industry to achieve energy security for Nigeria,” Kumar said.
The NIPCO MD in the review of the company’s 2022 performance stated that their performance was mainly on a long-term growth strategy that was anchored on prudent management of resources, cost optimization, teamwork, and unflinching support of the Board of Directors.
He affirmed that the human capital element of the company will continue to elicit management’s positive attention even in the face of economic challenges that are fast affecting the standard of living nationwide.
Kumar also expressed his optimism about the future of the company, stating that the unwavering commitment of the workforce is a good pointer to more glorious years of operations ahead.
He, therefore, praised the company’s board of directors and shareholders for their support and promised not to let them down in the march to take NIPCO PLC to the next level.