The Chief Executive Officer of the National Petroleum Authority (NPA), Dr. Mustapha Abdul-Hamid, has highlighted opportunities that exist in West Africa for investors who want to invest in the LPG subsector of the downstream petroleum industry.
Dr. Mustapha Abdul-Hamid noted that despite the robust growth experienced by the West Africa LPG market over the decade, there still exists a huge potential for LPG adoption and utilisation.
According to him, opportunities exist in LPG infrastructural development such as jetties, storage, bottling plants and refilling plants as well as marketing and distribution.
Dr. Mustapha Abdul-Hamid was speaking at the opening of the 3rd West Africa LPG Expo in Accra under the theme: ‘Towards Making LPG The Clean Fuel Of West Africa’.
The event attracted exhibitors from over twenty-seven countries in the world.
Dr. Mustapha Abdul-Hamid observed that LPG is a cleaner burning fuel that provides smoke-free indoor cooking and helps to reduce outdoor and urban air pollution.
“LPG produces 50% less CO2 than coal, 20% less CO2 than heating oil and 10-12% less CO2 than petrol,” he said.
Touching on the consumption of LPG in West Africa, Dr. Mustapha Abdul-Hamid stated that demand for LPG in West Africa has almost tripled over the past decade, increasing from 813,500 tonnes in 2012 to over 2.3 million tonnes in 2021.
“The share of LPG demand in West Africa also increased from 7% in 2012 to 16% in 2021, further highlighting the massive progress made in the clean cooking agenda in the sub-region,” he said.
Dr. Mustapha Abdul-Hamid was hopeful that participants at the Expo would deliberate and come out with workable solutions for the massive uptake in LPG, which is noted for its significant social, environmental, and economic benefits to the people and the economy.
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