In an interview with Majorwaves Energy Report, our Managing Director, Felix Ekundayo highlighted the company’s plans to improve the clean energy sector in Nigeria and West Africa at large.
In the interview, Ekundayo highlighted the company’s dual-focus projects: the LNG storage terminal and a fully mounded propane-rated LPG terminal connected to the NPSC jetties. These infrastructure projects, located in Ijora, Lagos, are expected to be completed in the near future. “I expect that in the next few years, the LPG propane side will be 100% operational, and the first phase of our LNG terminal will also be operational, which will be the first of its kind in Sub-Saharan Africa,” said Ekundayo.
Ekundayo emphasised the potential for growth in Africa’s natural gas sector, driven by a shift from dirty cooking fuels to cleaner LPG solutions. He noted that Asiko aims to replace firewood, charcoal, and similar fuels with LPG for a substantial portion of the African population, thereby improving health and environmental outcomes. Asiko also foresees increased use of LNG at an industrial and commercial scale, necessary for Africa’s rapid development.
“Our belief, hope, and drive are to see a significant proportion of Africa’s population convert to and use LPG instead of firewood and charcoal,” Ekundayo stated. “For LNG, it will cater more to industrial and commercial operations. Africa needs to develop rapidly to catch up.”
Addressing the challenges in the Nigerian gas market, Ekundayo acknowledged liquidity issues in the natural gas sector, primarily due to problems in the power sector. However, he pointed out that the LPG market faces more price volatility than liquidity problems. “The LPG market does not have a liquidity problem; the natural gas market does, due to the power sector. The LPG market struggles with price volatility, leading to periods of excess supply and brief periods of hesitation,” he explained.
