The Lagos State Government has assured investors in the Nigerian oil and gas downstream sector, who are seeking to invest in Liquified Natural Gas, import terminals, pipelines, of policy priorities.
Ms. Sholabomi Shasore, Permanent Secretary, Ministry of Energy and Mineral Resources, said the state government would also give priorities to other strategic infrastructure aimed at improving the reliability of gas supply in the state.
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Shasore gave the assurance in her goodwill message delivered at the 17th edition of the Oil Trading and Logistics (OTL) Africa Downstream Week, 2023, on Tuesday in Lagos.
Shasore, who was represented by Mr Antonio Ayodele, a representative of the ministry, said that now was the time for more synergy in the oil and gas downstream and midstream sector.
She said: “It is time to be innovative and to collaboratively drive the market through its murky waters, and it is also time to bring the market into a new horizon.
“ It is time to forge ahead into the new. Here in Lagos State, our policy priorities will support initiatives that will drive the market in this regard.
“These will include strategic infrastructure like LNG import terminals and pipelines, to improve the reliability of gas supply in Lagos State.
“We are pursuing an ambitious energy agenda that emphasises renewable sources, gas utilisation, and energy efficiency.
“We committed to stimulating the demand by facilitating switching to gas use across industrial, power and transport sectors,” she said.
Shasore said: “Incentives like intervention funds and collaboration through Federal agencies are planned.
“Through initiatives like our one-stop online portal, the state through the ministry strives to ease market entry and promote an enabling environment for downstream operators in Lagos State.
“We are committed to supporting your business growth and excellence”.
Ayodele, on his part disclosed that the IBILE Oil Gas Corporation (IOGC), Lagos State’s key implementation agency, was collaborating with the private sector, Federal Government and state agencies, kit conversion, and other related Original Equipment Manufacturers (OEM), to ensure a smooth transition for alternative fueling of vehicles.
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He said that the agency was mandated to invest and transit the Lagos State Government to alternative fueling solutions (natural gas, electricity, hydrogen or bio-fuels), with a clear objective to reduce emissions, lower cost and increase energy security.
Ayodele, therefore, stated that some of the plans included providing adequate infrastructure development such as conversion centres, refueling stations, charging stations, and distribution networks.
