Techno Oil Limited has announced plans to execute a N3 billion Liquefied Petroleum Gas (LPG), also known as cooking gas, cylinder manufacturing plant in Lagos.
The facility, which is hopefully coming on stream by the end of November, has production capacity of five million units of cooking gas cylinders annually.
“The construction of the plant has since commenced at Lekki, Lagos, and it is valued at over N3 billion and is expected to generate no fewer than 1,000 jobs to Nigerians,” the executive vice chairman of the company, Nkechi Obi, said .
Currently, the machines fabrication and construction of the plant are being monitored in strict compliance to regulatory standards as stipulated by the Standard Organisation of Nigeria (SON) and Department of Petroleum Resources (DPR). Obi said that the plant was being constructed in partnership with a European firm which has built similar plants in over 15 African and Asian countries, adding that her company embarked on the project as part of its contribution to the drive by the federal government to deepen the LPG and encourage more Nigerians to embrace the use of the LPG which she described as a cleaner, safer and affordable source of fuel for homes.
She said the Techno Oil LPG cylinder manufacturing plant, when fully operational, would also offer value added services to cooking gas users through the use of an integrated cylinder integrity testing facility.
This would be a relief because most cylinder users do not have access to the facility that helps to test the integrity of their cylinders.
Obi also said that although the use of cooking gas had increased by about 36.8 per cent in Nigeria in the past three years, over 80 per cent of households still relied on kerosene, firewood and other dangerous energy sources.
She lamented that Nigeria had a population of over 170 million people, yet the country has less than one million cooking gas cylinders in circulation.
“The huge capital expended
annually on the importation of LPG cylinders is a monumental loss to this country,” said Obi.
“With the completion of this project, Nigeria will curb this huge capital flight which is estimated at N5 billion annually and further reduce the depletion of our foreign reserve,” she added.
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