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NIPCO embarks on business expansion to aid diversification, others

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THE Nigerian Independent Petroleum Company (NIPCO), says it has intensified investment in gas infrastructure to aid diversification and Nigeria’s energy transition.

Mr Suresh Kumar, Managing Director, NIPCO Plc, who said this during a facility tour of the company on Sunday in Lagos, added that it would also reduce the country’s dependence on fossil fuels.

Kumar said that the organisation had deepened gas usage and market penetration in the country through massive investment in the sector.

He said that as the Federal Government plans to put an end to fuel subsidy, natural gas by Compressed Natural Gas (CNG) and Auto CNG were bound to be a preferred “fuel of choice”.

According to him, the benefits of the natural gas is that it is safe, environmental friendly, economical, among others.

Kumar said that the company had invested massively in gas infrastructure, in line with Federal Government declaration of 2021 to 2030 as “Nigeria’s Decade of Gas“.

He noted that the declaration  is a period the government aspired to accelerate domestic and export gas production and utilisation.

He said that NIPCO was intensifing investment in gas infrastructure to bolster the gas agenda of the Federal Government, which was getting a booster.

According to him, already, the company has established Compressed Natural Gas (CNG) facilities across the country to make cars run on gas.

He also said that NIPCO had been  expanding its scope on supply of Liquefied Natural Gas (LNG) and constructing new pipeline infrastructure to strategic locations in the country.

Kumar, said the company had invested over 50 million dollars in developing Nigeria’s natural gas over the years, while more projects were still in the offing.

He said: “We have spent more than 50 million dollars on natural gas infrastructure over the years. We believe that there are lots of potential in Nigeria that can be explored for gas utilisation, and this will further boost our economy.

“By using indigenous gas, we can reduce subsidy burden on the Federal Government.

“We can also reduce the importation burden and that will directly or indirectly reduce  capital flight and create more employment opportunities for Nigerians.

“We are the pioneers. We always dream for the future. So, we dreamt for natural gas utilisation in Nigeria right from 2008 and we started investing.

“We introduced this model to the government. Nigeria is a country that has abundant natural gas and instead of wasting subsidy on petrol, we should be looking at a blueprint that can change the petrol market to CNG market,” he said.

According to him, NIPCO is an integrated company that supplies Nigerian market with petrol, diesel and gas.

Kamar said the company currently has about 19,500 metric tonnes combined storage capacity for LPG with 10 loading bays, which could truck-out over 4,000 tons per day.

Also speaking, Mr Nagendra Verma, Managing Director, NIPCO Gas, said the company currently has 14 CNG filling stations in various states across Nigeria and another six CNG stations, currently under construction.

He said over 7,000 vehicles were currently running on CNG, adding that over 350 truck fleet belonging to NIPCO were all on gas.

“We have workshops which are fully efficient and fully capable to convert PMS vehicles to gas, we have the expertise and we are ready to convert more vehicles to run on gas, he said.

Verma said: “So, we intend to have CNG stations in almost all the states of Nigeria, wherever the pipeline is available.

“Presently, we are laying LNG pipeline for 80 Kilometer pipeline from Shagamu interchange to Ibadan.

“The pipeline work is going on. We expect to commission first phase by the end of December 2023.

“And the entire pipeline is expected to be completed by next year.”

According to him, the company is also developing gas pipeline infrastructure in Lekki Free Trade Zone in Lagos, which is currently nearing completion.

He said the company is currently constructing a propane tank of 500 metric tonnes capacity, the biggest in Nigeria, in a bid to meet up with the federal government requirements of mixing certain quantity of propane with butane for domestic gas.

Verma said that the propane tank would be completed in the next three months.

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Meet silent achiever, Miriam Olusanya piloting GTB to increased profitability

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Miriam Olusanya made history in July 2021 as the first female Managing Director of Guaranty Trust Bank (GTB) one of Nigeria’s most successful banks.

With over 24 million customers, Guaranty Trust Bank is a leading African Bank that offers Online/Internet Banking, Retail Banking, Corporate Banking, Investment Banking and Asset management.

Despite her academic background in Pharmacy from the University of Ibadan and an MBA from the University of Liverpool, Olusanya has excelled in her role at GTBank.

Her performance has been instrumental in positioning the company as a leading financial holding company and enhancing its strategic capabilities in navigating operational challenges.

Recently, the Bank recorded the largest ever Profit before tax (PAT) in Nigeria’s Banking industry history.

Olusanya is an industrious and beautiful woman with the strength of a warrior and the ability to work magic with her skills. Her outstanding performance has significantly contributed to the growth of the financial institution and elevated the company’s standing within the financial industry.

Olusanya’s accomplishments have been acknowledged by Segun Agbaje, the Group CEO of Guaranty Trust Holding Company Plc (GTCO PLC), recognising her exceptional leadership. Her impressive track record at GT Group reflects her exceptional qualities as a business executive.

Under her leadership, Olusanya has demonstrated a commitment to promoting enterprise across the African continent and supporting indigenous small businesses.

For her excellent performance since assuming office, Miriam Olusanya is our Thriving Woman of the Week.

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Lagos Agriculture sector contributes N7trn to State’s GDP — Commissioner

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By Sodiq Adelakun

The Lagos State Government has revealed that the agriculture sector contributed N7 trillion to the state’s Gross Domestic Product (GDP) in 2024.

This disclosure was made by the State Commissioner for Agriculture, Abisola Olusanya, during the ongoing 2024 Ministerial Press Briefing at Alausa Ikeja, commemorating the first year of Governor Babajide Sanwo-Olu and his deputy, Kadri Hamzat’s second term in office.

In her words, Olusanya said, “In Nigeria, Agriculture contributes 25 percent to the GDP. But in Lagos, Agriculture encompasses a lot up to food production, so agriculture contributes N7 trillion in the last couple of years to the Lagos economy.

“This is to tell you that we have the potential, there is opportunity. We will not relent in terms of making it better,” she added.

In addition, the commissioner announced that the state government is collaborating with other states to ensure a steady supply of 200,000 tonnes of paddy required at the Imota Rice Mill.

She also revealed that at least 10,000 heads of cattle are slaughtered daily in the state.

However, she noted that there are significant data gaps and loopholes in the red meat production chain, which are often exploited by individuals. To address this, the state plans to utilise the logistics hub in Epe to improve data collection and plug the loopholes.

“The Lagos Rice Mill is 2 lines of 16MTPH integrated mill sited on 8.5 hectares of land at Imota. The rice mill has a capacity to produce 2.4 million bags of 50 kg bags of Rice yearly using 200,000 Metric tonnes of paddy annually.

“The Mill is part of the government’s commitment towards ensuring food security in the State which is a key component of the T.H.E.M.E.S + Development Agenda of Mr. Governor to make Lagos State a 21st Century economy,” She added.

Also speaking, Dr. Oluwarotimi Fashola, Special Adviser on Agriculture, reiterated the state government’s partnership with other states to ensure a steady supply of paddy.

“Because of the size of rice needed, Mr Governor signed an MOU with Niger state being the largest producer of paddy in the country.

“The Imota rice mill needed 200,000 tonnes of paddy. The partnership with other states is to ensure sustainability of production. We extend our hand of fellowship to all the South West states,” He added.

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Nigeria, France strengthen global migration partnership

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The Nigerian government is taking proactive steps to prevent illegal migration, by deploying cutting-edge technology to monitor and manage its land, maritime, and air borders.

The Minister of Interior, Dr. Olubunmi Tunji-Ojo, who stated this during a courtesy visit by the French Government led by the Ambassador in charge of Migration at the Ministry for Europe and Foreign Affairs, His Excellency Christophe Léonzi, stressed Nigeria’s commitment to curbing illegal migration while fostering cooperation with global partners.

Acknowledging migration as a natural phenomenon, Dr. Tunji-Ojo emphasised the government’s stance against illegal migration, expressing Nigeria’s willingness to support bilateral efforts to combat this challenge.

“An African problem is more of a European problem than an American or Asian problem because of our proximity. It is easier for people to find their way to Spain, France, Italy or the United Kingdom than to get into America or China. So, it means that the more we invest our energy and efforts into proactive strategies, the better it is for us,” the Minister said.

He highlighted the dynamic nature of illegal migration, stressing the need for continuous dialogue and proactive measures to stay ahead of traffickers’ evolving tactics.

The Minister further stated that the Ministry is streamlining the Nigerian visa application process on the basis of reciprocity, with priority on automation and a seamless access to INTERPOL data, to strengthen border control and security measures.

On its part, the French Government led by the Ambassador in charge of Migration at the Ministry for Europe and Foreign Affairs, His Excellency Christophe Léonzi, said the purpose of the visit was to foster cooperation between both countries.

Earlier before the engagement with the French delegation, the Minister of Interior had a closed meeting with the Technical Committee on the Enhancement of Security in the North led by Major General A.T. Jibrin (rtd).

Acknowledging progress since President Bola Ahmed Tinubu assumed office on May 29th, the Minister noted: “Yes, we are not where we want to be, but of course, we are not where we don’t want to be or used to be. Since May 29th when President Bola Ahmed Tinubu came on board, there has been a visible difference in terms of the security situation.”

The Permanent Secretary Dr. Aishetu Gogo Ndayako, Comptroller General of the Nigeria Immigration Service, Kemi Nana Nandap, and other high-ranking officials of the Ministry were present at both meetings.

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