Like Dangote, Another Nigerian Billionaire's Company Announces Completion of Gas Plant
- Everything is now set for the Ardova gas processing plant to commence operation and sell to the public
- Ardova Plc is owned by Abdulwasiu Sowami, one of Nigeria's silent billionaires as well as an astute entrepreneur
- There are expectations among stakeholders that with more local production, cooking gas prices are likely to drop
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Legit.ng journalist Dave Ibemere has over a decade of experience covering Tech, Energy, Stocks, Investments, and the Economy.
Nigerian indigenous energy company Ardova Plc (AP) has announced the completion of its new Liquefied Petroleum Gas (LPG) plant.
The gas plant located in Ojora, Lagos state, is expected to commence operation in March 2024 and will be able to meet more than 50% of Nigeria’s demand.
Source: Facebook
This was disclosed during the pre-commissioning tour of the facility by Farouk Ahmed, the chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Details about Ardova Gas plant
The Ardova gas plant includes a newly built 24,000 metric tonnes LPG facility, an upgraded fully propane-rated terminal, and the largest in West Africa.
The facility also consists of a 1.6km 10-inch jetty line connecting it to the NPSC jetty in Apapa, in-tank and in-line blending capabilities, as well as other supporting infrastructure that can throughput about 700,000 MT per annum, which is more than 50% of the nation’s current LPG demand.
Reacting to the project, the NMDPRA boss said:
“I am very impressed with this project, and I commend Ardova Plc for following all the due process. From the beginning, the Company involved NMDPRA as a regulator, and we are glad to see that the progress on the project has been very efficient. The Company has put the requisite safety measures in place to ensure safe operation.
“The automation of the facility will help increase efficiency in what is already the largest LPG Storage facility in West Africa.
"From the regulatory perspective, I can assure you, we are enablers of investment. We are here to encourage you to meet the deadlines of delivering this project because the nation is waiting for it."
Marketers address cooking gas prices in Nigeria
Earlier, Legit.ng reported that cooking gas marketers under the Nigerian Association of Liquified Petroleum Gas Marketers (NALPGAM) accused the Liquified Petroleum Gas (LPG) terminal operators of causing the country's high cooking gas cost.
Oladapo Olatubosun, the association's president, disclosed this when they met the Senate committee on gas in the company of the group members.
The commodity's price recently increased to N1,200 per kilogram, with many Nigerians lamenting its high cost amid surging Inflation and high living standards.
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Source: Legit.ng
