July 23, 2024

#OTLAfrica: Lagos State Govt. guarantees policy priorities for LNG terminals, pipelines investors

Lagos State Government


Oredola Adeola


In pursuit of the state’s ambitious energy agenda, the Lagos State Government has offered policy priorities for investors in the Nigerian oil and gas downstream sector, seeking to invest in Liquified Natural Gas, import terminals, pipelines and other strategic infrastructure aimed at improving the reliability of gas supply in the state.


Ms. Sholabomi Shasore, Permanent Secretary, Ministry of Energy and Mineral Resources, made this known goodwill message in a goodwill message delivered at the 17th edition of the Oil Trading and Logistics (OTL) Africa Downstream Week, 2023, on Monday in Lagos.


The PS in a statement delivered on her behalf by Engr. Antonio Ayodele, a representative of the Ministry stated that now is the time for more synergy in the oil and gas downstream and midstream sector.

She said, “It is the time to collaboratively and innovatively drive the market through its murky waters, and it is the time to bring the market into a new horizon. It is the time to forge ahead into the new.


“Here in Lagos State, our policy priorities will support initiatives that will drive the market in this regard. These will include strategic infrastructure like LNG import terminals and pipelines to improve the reliability of gas supply in Lagos State.


“We are pursuing an ambitious energy agenda that emphasizes renewable sources, gas utilization, and energy efficiency. We committed to stimulating the demand by facilitating switching to gas use across industrial, power and transport sectors.


“Incentives like intervention funds and collaboration through Federal agencies are planned.


“Through initiatives like our one-stop online portal, the State through the Ministry strives to ease market entry and promote an enabling environment for downstream operators in Lagos State.


We are committed to supporting your business growth and excellence,” Ms Shashore stated.


Engr.Antonio Ayodele, on his part disclosed that the IBILE Oil Gas Corporation (IOGC), Lagos state’s key implementation agency, is collaborating with the private sector, Federal Government and State agencies, kit conversion, and other related OEM manufacturers, to ensure a smooth transition for alternative fueling for vehicles.


He emphasised that the agency is mandated to invest and transition the Lagos State Government to alternative fueling solutions (natural gas, electricity, hydrogen or biofuels), with a clear objective to reduce emissions, lower cost and increase energy security.
Engr. Ayodele therefore stated that some of the plans include providing adequate infrastructure development such as conversion centres, refueling stations, charging stations, and distribution networks.