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Company to increase supply, reduce cost of Liquefied Petroleum Gas ─NNPC GMD

*The Nigerian National Petroleum Company (NNPC) Limited assures the Federal Government is committed to providing affordable gas for consumers in the country

Gbenga Kayode | ConsumerConnect

As the festive season approaches, and in a bid help to reduce the cost of Liquefied Petroleum Gas (LPG) otherwise known as cooking gas, the Nigerian National Petroleum Company (NNPC) Limited, has assured consumers of increased supply of the product in order to to make it affordable across the country

ConsumerConnect reports Malam Mele Kyari, Group Managing Director and Chief Executive Officer (GMD/CEO) of NNPC, announced this at the recent inauguration of a 120-metric tonnes LPG storage and bottling plant by Emadeb Energy Services Limited, in Abuja, FCT.

Malam Mele Kyari, Group Managing Director/CEO of NNPC Limited

Malam Kyari also explained that the current hike in price of cooking gas price is not limited to Nigeria, but an international issue.

The NNPC GMD stated that the commissioned plant would help to reduce the cost of energy since LPG was cheaper than any other alternative fuel for Nigerian consumers.

According to him, the Federal Government is committed to providing gas for its citizenry.

Kyari earlier had tasked the Management of the National Engineering and Technical Company (NETCO) to take advantage of the opportunities provided by the PIA to increase its profitability.

The NNPC Chief gave the charge at the recent two-day Management Retreat organised by NETCO in Lagos with the theme: “Repositioning NETCO for Growth and Profitability in PIA Times”.

NETCO and other subsidiaries of the NNPC must key into the new mandate of the organisation following the signing of the PIA by President Muhammadu Buhari August 16, 2021, he noted.

According to Kyari, the national oil company has been transformed into a more competitive and commercial entity which would continue to deliver value and dividends to its shareholders.

The GMD/CEO also said that the oil and gas industry was facing huge challenges due to the COVID-19 pandemic and the global energy transition which has reduced investment in the upstream sector.

He, however, noted that the PIA had provided a lot of opportunities to attract investment to the sector which NETCO, and other NNPC subsidiaries should take advantage of to increase their profitability in the sector.

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