The Nigeria LNG Limited (NLNG) says it is producing over 1.5 million metric tonnes (MT) of liquified petroleum gas (LPG), popularly called cooking gas, solely for domestic consumption.
Fatima Adanan, NLNG’s general manager, finance, made this known on Tuesday during a panel session during the ongoing 7th Nigeria International Energy Summit (NIES) in Abuja.
Adanan said the company sells LPG to its customers using the naira denomination.
“Primarily, in Nigeria, we are using Butane. We took the decision to make sure that 100 percent of what we produce in terms of butane is going to be sold in Nigeria — not only in Nigeria — but in naira so that it is easy for accessibility,” she said.
Adanan said when NLNG started producing butane, the company was producing 70,000 metric tons.
“Today, we are producing upwards of 1.5 million metric tons of LPG. And our sole designated distribution point is Nigeria. So, part of our vision as a company is to make sure that we make Nigeria a better place,” she said.
On his part, Tony Attah, former managing director of NLNG, said, given the “pressure we are having on the forex, that has to be a major contribution by a company”.
Meanwhile, the federal government, on February 22, 2024, announced the suspension of LPG exports.
Ekperikpe Ekpo, minister of state for petroleum resources (gas), said the action is part of a deliberate attempt to increase the availability of LPG in the domestic market and lessen the financial strain on customers due to the hike in the price of the commodity.