The Federal Government's drive to stimulate job creation has started yielding dividends as Techno Lagos Oil Limited is set to inaugurate an automated Liquefied Petroleum Gas (LPG) terminal at Kirikiri in Apapa, Lagos. The Minister of State for Petroleum, Mr Timipre Sylva, is expected to unveil the facility, which holds 8,400 metric tonnes of cooking gas, on 18 November 2020.
The terminal was built by CAKASA Nigeria Ltd in collaboration with a foreign technical partner. It was financed by a consortium of banks. The construction began in November 2016 when the deal was signed between Techno Oil and its foreign technical partner.
The Managing Director of Techno Gas and Power, Mr Collins Onyeama, said the terminal would boost the realisation of the Federal Government's LPG Expansion Project. 'The terminal will generate revenue for all tiers of government through taxes and levies, and more importantly generate over 2,000 direct and indirect jobs for the teeming Nigerian populace,' he said. Mr Onyeama also noted that a vessel, MT Pertusola, has already discharged products emanating from the OSO-Butane Bonny Terminal in Rivers State at the facility.
The Techno Oil terminal has been described as a major contribution to Nigeria's quest to unlock its 187 trillion cubic feet gas reserve, which has remained largely untapped. Mr Onyeama added that the investment would contribute significantly to reducing gas flaring and boosting LPG consumption, which currently stands at approximately 400,000 metric tonnes per year. The facility is the fifth LPG terminal of its kind to be built in Lagos, Nigeria's economic hub and home to leading private oil and gas companies.
