The Nigerian Independent Petroleum Company (NIPCO) Plc has identified the need to explore opportunities in gas and petroleum products marketing, especially the deployment of LPG skids across the country, to sustain its growth.
This disclosure was made by Suresh Kumar, Managing Director, NIPCO Plc, while addressing the company shareholders at its Annual General Meeting, noting that the company supplied 35 per cent of Nigeria’s Liquefied Petroleum Gas (LPG) in 2020, as a depot operator and supplier to marketers.
He stated that the declaration of 2020 as the year of gas by the Federal Government generated more growth to the sector and hoped that investors would channel more funds into the sector.
He explained that the creation of the National Gas Expansion Programme (NGEP) to deepen domestic utilisation of gas is one of the veritable tools that can enhance the performance of the company in the area of gas marketing.
According to him, the renewed interest of the Federal Government in utilisation of natural gas as vehicular fuel through the National Gas Expansion Programme (NGEP) is expected to provide investment opportunities and avenues for a cheaper and cleaner alternative source of energy for Nigerians.
On corporate social responsibility, Suresh said the Nigerian Independent Petroleum Company (NIPCO) intervened in the area of mitigating the effects of the pandemic through donation to the CACOVID fund, packaged by CBN, NNPC, DPR and others.
He further disclosed that in the company’s host community, hundreds of women were offered gas burners and other accessories to ease domestic cooking and alleviate poverty.