The Nigeria Liquefied Natural Gas Limited (NLNG) has announced a significant increase in its annual production of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, reaching over 1.5 million metric tonnes. The company has also started selling LPG in naira, as opposed to the usual practice of using US dollars.
This development comes at a time when operators in the oil and power sectors have been advocating for the sale of LPG and Liquefied Natural Gas in naira, especially since the devaluation of the local currency against the dollar.
The call for naira transactions has also been extended to the sale of crude oil, which is currently sold in dollars to both international and domestic buyers. During a panel session at the ongoing 7th Nigeria International Energy Summit in Abuja, the General Manager, Finance, NLNG Limited, Fatima Adanan, stated that the multi-billion dollar firm had ramped up its LPG production to 1.5 million metric tonnes and was supplying all of it to the Nigerian market. She emphasized that “NLNG is selling LPG in naira,” in an effort to deepen cooking gas penetration across the country.
According to Adanan, “When we started, we were producing 70,000MT, today we are producing upwards of 1.5million MT of LPG, and for this LPG, our sole designated distribution point is Nigeria. So part of our vision as a company is to make Nigeria a better place.”
