By Chibisi Ohakah, Abuja
Ardova Plc, a liquefied petroleum gas (LPG) company has announced the target of building West Africa’s largest LPG storage facility, a step that would place the company at the top of the industry in receiving, blending, storing, and distributing LPG to both commercial and retail customers.
At a groundbreaking ceremony to commemorate the construction of its new storage facility in Lagos last week, the managing director, Olumide Adeosun said the LPG facility which sits on 8.8 hectares and have a combined storage capacity of 20,000 metric tonnes, underscores Ardova’s commitment to grow revenues from cleaner fuels.
He hinted that the company will conclude the ongoing construction of its new world-class Liquefied Petroleum Gas (LPG) storage facility at the company’s Ijora-Lagos Campus in December 2022.
Adeosun said; “This event marks an important step in our evolution to an integrated energy company, as it draws us closer to our projection of a future where renewables and cleaner fuels represent a considerable segment of our product offering and balance sheet.”
Adeosun said the current position of the company is indication of the direction of travel for his company, as it spotlights he confidence in LPG as the fuel of the future in Nigeria, “in congruence with both the Nigerian government’s gas expansion plan which seeks to make LPG mainstream at the end of the decade and the present growing rate of in-country consumer adoption of the product.
Ardova’s investment in this facility supersedes the expected commercial returns, as the ccompanyis equally focused on the positive environmental and human impact that increased access to gas will create.
Speaking further he said, “We are also particularly interested in the improved socio-economic prospects it portends for citizens of our beloved country, especially rrural consumers whose reliance on biomass such as firewood makes them vulnerable to attendant health risks and reduces much needed ground cover provided by trees at alarmings peed,” he said.
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