To deepen gas development, Asiko Group unveils LNG, CNG depot in Benin

L-R Mogbo C Paul (Fed. Min. of Finance), Busayo Fabunmi (GM Operations, Asiko) Wole Awodunmila (Regional Manager, Asiko), Alex Ogedegbe (Chairman, Asiko), Afam Asuike (Head of Operations, NMDPRA Edo state), Oladipo Ebenezer Olajide (Fed. Min. of Finance), Abubakar Folami (Executive Director, Asiko) at the official unveiling of Asiko gas plant in Benin City, Edo State

Asiko, a provider of clean energy solutions operating in Nigeria’s energy sector has unveiled a 300 Metric Tonnes Liquefied Petroleum Gas (LPG) and Compressed Natural Gas (CNG) depot in Utesi, Ikpoba Okha local government area of Edo state.

This project invariably aligns with the federal government’s priority objective to attain 5 million MT of LPG consumption by 2023.

Speaking at the official commissioning of the gas depot, Alex Ogedegbe, the Chairman of the Asiko Group, expressed that the gas potential of Nigeria is enormously huge and the LPG/CNG depot is designed to provide much-needed energy solution to Nigeria and beyond.

“Today, we are excited to launch our 300MT LPG and CNG depot. The multi-product gas depot, promises to improve gas availability and distribution in the region.”

According to him, “The LPG/CNG depot is poised to become a hub for a wide range of gas products. Under its licensing agreement, the depot is authorised to store Propane, LPG (Liquefied Petroleum Gas), CNG (Compressed Natural Gas) and Liquefied Natural Gas (LNG).

Currently, it stores LPG and CNG, with plans for future development to enable the storage of LNG in the near future. The 300MT depot, the biggest in Benin, marks an added step towards contributing to a clean energy future and the realisation of the Federal Government’s decade of gas initiative.”

Ogedegbe said, “Nigeria is endowed with up to 183 trillion cubic feet of gas deposit, and we have not consumed up to 5 percent of that deposit in Nigeria today. Imagine how much we can distribute to Nigerian society and beyond if we have installations and facilities like this that we are commissioning today.

Also speaking to newsmen at the event, Abubakar Folami, a Director at Asiko, said that the company has similar inland depots and plants across Nigeria, with an impressive inland Propane and LNG terminal currently under construction in Ijora, Lagos.

Similarly, the Utesi Community head, (Okaighele) Monday Edo, said he was very happy about the project commissioning.

This LPG/CNG depot is not just a beacon of progress for the energy sector; it also carries a profound impact on the local community. The depot is expected to generate over 100 direct and indirect jobs opportunities, contributing significantly to the economic welfare of the region.

Isaac Anyaogu

Isaac Anyaogu is an Assistant editor and head of the energy and environment desk. He is an award-winning journalist who has written hundreds of reports on Nigeria’s oil and gas industry, energy and environmental policies, regulation and climate change impacts in Africa. He was part of a journalist team that investigated lead acid pollution by an Indian recycler in Nigeria and won the international prize - Fetisov Journalism award in 2020. Mr Anyaogu joined BusinessDay in January 2016 as a multimedia content producer on the energy desk and rose to head the desk in October 2020 after several ground breaking stories and multiple award wining stories. His reporting covers start-ups, companies and markets, financing and regulatory policies in the power sector, oil and gas, renewable energy and environmental sectors He has covered the Niger Delta crises, and corruption in NIgeria’s petroleum product imports. He left the Audit and Consulting firm, OR&C Consultants in 2015 after three years to write for BusinessDay and his background working with financial statements, audit reports and tax consulting assignments significantly benefited his reporting. Mr Anyaogu studied mass communications and Media Studies and has attended several training programmes in Ghana, South Africa and the United States

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp