Lagos oil firm to establish five gas stations

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Ibile Oil and Gas Corporation will launch five Liquefied Petroleum Gas stations by the fourth quarter of this year, the Lagos State Commissioner for Energy and Mineral Resources, Mr Olalere Odusote, has said.

Odusote said the company, owned by the Lagos State Government, would promote and deepen the use of LPG, also known as cooking gas, across the state.

He said 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 said 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 supply of diesel and petrol.

He said it had also 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 said 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 Odusote, the ministry is currently implementing a number of strategic initiatives towards improving electricity supply in the state.

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