The Ibile Oil and Gas Corporation plans to launch five Liquefied Petroleum Gas stations by the fourth quarter of this year. This is according to the Lagos State Commissioner for Energy and Mineral Resources, Mr Olalere Odusote.
The Commissioner disclosed that the company which is owned by the Lagos State Government would promote and deepen the use of LPG, also known as cooking gas, across the state.
He stated this at a ministerial briefing marking the 360 days’ achievement of Governor Babajide Sanwo-Olu.
The Commissioner said, “The Ministry is working on developing policy and guidelines to promote gas commercialisation and utilisation.
“The policy is specifically aimed at promoting the use of gas as cooking fuel in Lagos State and reticulation system for gas supply.”
He announced that the oil firm had supplied 382,660 litres of Automotive Gas Oil (diesel) to commercial and residential customers, adding that it had commenced the process of rebranding Alausa Dump to begin the supply of diesel and petrol.
He also said the firm has commenced the process of rebranding and supplying diesel to Lagos Bus Services Limited depot in Yaba.
The commissioner said the IOGC established the formulation for an engine oil being used to service a large percentage of vehicles in Lagos.
“IOGC will launch lubricant grade in one and four litre containers by Q3 2020 and expand grade offerings to include synthetic lubricants in the long term,” he said.
He remarked that the firm would grow supply to ministries, departments and agencies of government as well as commercial, industrial and residential customers, targeting 100,000 litres by the fourth quarter of this year.
According to him, the Ministry is currently implementing a number of strategic initiatives towards improving electricity supply in the state.
He said, “The ministry conceived the Accelerated Power Programme aimed at facilitating electricity distribution to underserved and unserved communities in the state.
“The programme is to be implemented in phases with the first phase of pilot projects across the state focusing on low-income communities.”
He said in ensuring a successful implementation of the programme, the ministry had struck a strategic partnership with the electricity distribution companies in Lagos and the Transmission Company of Nigeria.
Odusote said, “As part of the programme, the ministry is also seeking innovative metering solutions and is currently facilitating a drive for local production of affordable smart meters, leveraging local talent and capacity.
“The state government, through the ministry, is working with Power Africa-Nigeria Power Sector Programme on developing an Integrated Resource Plan for Lagos, which is expected to provide guidelines for the state to attract investment into the electricity sector.”