Y2023 ENERGY WEEK: LAGOS SHOWCASES PLANS TO BECOME REGIONAL OIL, GAS HUB

November 9, 2023

The Lagos State Ministry of Energy and Mineral Resources and Ibile Oil and Gas Corporation (IOGC) have demonstrated the State Government’s ambition to become a regional oil and gas hub with their debut appearance at the 17th Annual Oil Trading and Logistics (OTL) Africa Downstream Expo in Lagos.

A statement issued by the Ministry said the presence underscored Governor Babajide Sanwo-Olu’s initiatives to develop energy infrastructure and solutions, emphasising the State Government’s commitment to driving progress in Nigeria’s downstream sector.

It stated further that IOGC, the state-owned energy company established in 2021, outlined its plans to provide integrated energy services while the Ministry showcased policies and projects focused on boosting investment in storage, pipeline networks, gas processing, and other areas.

While noting that participation of the State generated excitement about Lagos’ downstream goals, the statement pointed out that the government plans to give priority to other strategic infrastructure to encourage oil and gas sector players in Lagos.

The OTL Africa Expo hosted over 1,500 delegates and 150 exhibitors, including major players like NNPC, NMDPRA, Sahara Group, and Trafigura with the theme “Energy, Synergy and New Beginnings”.

The event enabled productive conversations on optimising Nigeria’s downstream operations.