Infrastructural development in the gas sector has been identified as key to developing the energy sector in Nigeria.
The Managing Director, NIPCO Gas Limited, Nagendra Verma, stated this recently after the conferment of Innovative Gas Company of the Year Award on the company by Energy Times Newspaper.
A statement signed after the awards by the Assistant General Manager, Corporate Affairs, NIPCO, Mr Lawal Taofeek, Verma disclosed that since its inception in 2009, NIPCO Gas has been at the forefront of AutoCNG development, with its footprint stretching from Benin City to Ibafo in Ogun State and Kogi State.
According to the statement, “The accolade of Most Innovative Gas Company of the Year aptly acknowledges our endeavours in the gas sector, marked by the launch of our inaugural Compressed Natural Gas (CNG) station in Benin City, Edo State, in 2009.
“Currently operating 15 AutoCNG stations nationwide, NIPCO Gas ensures that CNG vehicles originating from Lagos can seamlessly travel as far as Abuja and Kaduna, thanks to strategically located refuelling points along the route.
“The initiative, introduced by NNPC Limited’s Group Chief Executive Officer, Mallam Mele Kyari, is set to offer diverse fuel choices to Nigerians in the wake of the Premium Motor Spirit (PMS) subsidy removal.
“The goal is to create a network of CNG stations throughout the country. Under the partnership, NIPCO Gas has committed to the construction of 35 CNG Stations initially across states of Nigeria.
“Presently, NIPCO Gas Limited has 16 CNG outlets and has successfully converted over 8,000 vehicles to CNG. The firm’s expertise and experience are instrumental in supporting the government’s renewed efforts to make fuel more economical and to enhance its beneficial impact on the national economy.
“The partnership between NIPCO Gas and NNPC, under the guidance of the Presidency, underscores a shared commitment to serving the Nigerian populace.
“The honour serves as recognition of our steadfast commitment to deepening gas utilization as an alternative automotive fuel. The distinguished award also underscores NIPCO Gas’s firm unwavering focus on expanding the country’s gas infrastructure.
“We are honoured to have our efforts in the sector as acknowledged in a significant way as you have done.
“NIPCO Gas stands as a prominent energy enterprise, devoted to providing dependable and sustainable energy solutions to Nigerian communities. Prioritizing innovation and ecological stewardship, NIPCO Gas is determined to drive positive transformation in the energy industry, advocating for cleaner options like AutoCNG to foster a more eco-friendly and sustainable future.
“Reflecting our commitment to capitalizing on the nation’s gas potential, we have consistently invested substantial human and material resources in developing infrastructures that bolster viable energy alternatives for both motorists and industrial applications”.
The Chairman, Editorial Board, Energy Times, Mr Yakubu Lawal, said the award is meant to appreciate and recognise those individuals and companies whose works have in one way or the other impacted on the nation’s development.

Bayelsa State Governor, Senator Douye Diri, has urged the Nigerian Content Development and Monitoring Board (NCDMB), the Shell Petroleum Development Company (SPDC), and other International Oil Companies (IOCs) to prioritise the completion of their projects in the State.
The Governor made the call while inaugurating an ultra-modern Learning Centre and Digital Library Complex jointly funded by the NCDMB, SPDC, Exxon Mobil, Total Energies and the Nigerian Agip Oil Company (NAOC) at the Niger Delta University (NDU), Wilberforce Island, Amassoma, recently.
He said timeous funding and completion of meaningful projects already awarded by these organisations at the state-owned Niger Delta University and other parts of the State would complement government efforts at engendering infrastructural development of the State.
Represented by his Deputy, Senator Lawrence Ewhrudjakpo, the Governor expressed the preparedness of his administration to partner the IOCs and other corporate bodies on big-ticket projects that will make lasting impact in the lives of the people.
He commended the NCDMB, SPDC and other financiers for completing the multi-million dollar project, but stressed the need for them to set and stick to the timelines meant for the completion of their projects.
Describing library as strategic to intellectual and research development of every university, the Bayelsa Chief Executive said he was confident that the Management of NDU would sustainably maintain and make best use of the facility.
“It is delightful to be here for this inauguration and I want to thank the NCDMB, the SPDC and its partners who pulled resources together to fund this project.
“Having said that, I want to challenge the partners to do more concerning other hibernating projects in the Niger Delta University and other parts of our state.
“We look forward to further collaboration with the partners. In fact, Bayelsa State is set to partner with you on other projects that will impact on the lives of our people.
“This digital library and learning centre is a shot in the arm of this university. I am confident that the NDU management would properly maintain this edifice.
“For us, the time to give excuses by students for any failure has expired, likewise for lecturers for failure to carry out research”, the Deputy Governor said.
In his welcome address, the Vice Chancellor of the NDU, Prof Allen Agih, said the project was the largest intervention undertaken by IOCs throughout the history of the institution.

Ariwera Ibibo-Howells, Yenagoa

Minister of Finance, Wale Edun, has disclosed that the Federal Government has qualified to process a 40-year term loan with a 10-year moratorium of $2.25 billion from the World Bank at one percent interest rate.
Describing this as “virtually a grant”, the Minister further said the government is also considering issuing a diaspora bond.
Speaking at a joint press conference of the Ministry of Finance and the Central Bank of Nigeria (CBN) at the spring meetings of the International Monetary Fund (IMF) and the World Bank, in Washington D.C, Edun said the country is also set to benefit from budgetary support and low-interest funding from the African Development Bank.
He said negotiations with foreign direct investors are also underway with promising prospects for substantial investment flows into the country.
“If you look at the fact that we have qualified for the processing, just this week to the Board of Directors of the World Bank, of the total package of $2.25 billion of what you can call, I mean, if there is no such thing as a free lunch, but it is the closest you can get to free money.
“It is virtually a grant. It is for about 40 years, 10 years moratorium and about one per cent interest. So, that also is part of the flow you can count”, he said.
On debt sustainability, Edun emphasised the critical importance of generating revenue, particularly from oil, as a primary source, with endeavours focused on maximising its benefits for Nigerians.
He noted that President Bola Tinubu has established ambitious goals to increase oil production, targeting a rise to two million barrels per day from the current 1.6 million.
Edun, who further noted that Nigerians abroad are doing very, very well and have significant funding, said the Nigerian government is considering the issuance of diaspora bonds, aiming to attract funds from Nigerians living abroad and foreign currency holdings.
The proposed diaspora bonds are anticipated to serve as an attractive investment instrument, catering to the financial interests of both Nigerians abroad and foreign investors.
“The government is looking at attracting those funds and capturing those funds through a diaspora type of instrument, a diaspora bond.
“We think that would be a very attractive instrument for Nigerians abroad and for foreign holdings of foreign currency and we look to have a substantive, substantial and successful issue later in the year”, he stated.
On his part, the Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, said, “Besides our meetings with multilateral financial institutions, and foreign investor groups with a keen interest on developments in Nigeria, including a critical gathering at the US Chamber of Commerce, we had very productive discussions with leading International Money Transfer Operators (IMTOs), where we collectively committed to doubling remittance flows through formal channels into Nigeria in the immediate short to medium term.
“This target is both ambitious and achievable, and we’re wasting no time in setting up a collaborative task force, reporting to myself, to drive progress and address any bottlenecks that hinder flows through formal channels”.