Nigerians consumed over 55% imported LPG in October– PPPRA

Chinazor Megbolu |

The Petroleum Products Pricing Regulatory Agency (PPPRA) has said that that Nigerians consumed 55.47 per cent of Liquefied Petroleum Gas (LPG) in October 2020.

The Federal Government agency stated this in its monthly report, saying the 55.47 per cent of the imported cooking gas was consumed by Nigerians in October 2020.

The organisation in the report added that the remaining 44.53 per cent was sourced and supplied locally.

The data by the PPPRA showed continuous and stable growth in the import of LPG, compared with the September report, which stood at 19.6 per cent as well as the corresponding period of 2019, which stood at 13.2 per cent.

However, the data further indicated that the total quantity of LPG both imported and sourced locally in October 2020 was 123.27 thousand Metric Tonnes in Vacuum (MT (Vac)).

The PPPRA also noted that out of this, 68.37 thousand MT (Vac) was imported, 54.90 thousand MT (Vac) was sourced in the country.

“Imports grew by 19.6 per cent in October, compared with September and by 13.2 per cent compared to the corresponding period of 2019.

“On the other hand, LPG sourced locally declined by 30.8 per cent, compared with the previous month.

“However, it grew significantly by 219.3 per cent compared with the corresponding period of 2019.

NIPCO, with Port of Discharge at BOP, Apapa and PWA, Lagos, was the highest importer of the commodity into the country in October 2020, with 32.67 thousand MT (Vac) of LPG, representing 47.8 per cent of the total import and 26.5 per cent of total LPG supplied in the period under review.

“The other importers, according to the data, includes Matrix Energy, 12.46 thousand MT (Vac); Algasco LPG Services Limited, a subsidiary of Vitol, 13.82 thousand MT (Vac); Prudent, 5.63 thousand MT (Vac); and Hyson, 3.80 thousand MT (Vac).

“The origin of the imported LPG was the USA and Equatorial Guinea. The USA supplied 50.27 thousand MT (Vac), representing 73.5 per cent, while Equatorial Guinea supplied 18.10 thousand MT (Vac), representing 26.5 per cent.

“Imported LPG was discharged at BOP, Apapa; Matrix Jetty, Warri; PWA, Lagos, and Prudent Energy Jetty, Oghara.

“NIPCO was responsible for 26.42 thousand MT (Vac) of the total 54.90 thousand MT (Vac) sourced locally in October 2020; Algasco sourced 13.20 thousand MT (Vac); Stockgap Fuels Limited sourced 8.19 thousand MT (Vac), and Rainoil sourced 7.08 MT (Vac).

“The origin of the locally sourced LPG was NLNG, Bonny and BRT.

“NLNG supplied 47.82 thousand MT (Vac), representing 87.1 per cent; while BRT supplied 7.08 thousand MT (Vac) representing 12.9 per cent.

” Local LPG was discharged at PWA, Lagos; Rainoil Jetty, Lagos; Lister Jetty, Apapa; and Stockgap Jetty, Port Harcourt.

“The 30.8 per cent decline in local supply compared to the previous month is particularly worrying, considering the huge proven gas reserves in the country estimated at over 200 trillion cubic feet, the report stated.