Sahara Group has said it will invest over $1 billion (about N400bn) to enhance access to Liquefied Petroleum Gas (LPG) in Africa and emerging economies.
It said the move is targeted at boosting energy transition on the continent. This is even as it disclosed its intention to build 120,000 metric tonnes LPG storage facilities in Nigeria and ten other African countries.
The process has commenced in seven countries while five others are in the preliminary stages
Temitope Shonubi, Executive Director, Sahara Group disclosed this at the African Refiners and Distribution Association (ARDA) conference 2021 in South Africa where he spoke on the role of LPG in Africa’s energy transition.
In a statement issued by the group, the Executive Director said: “Sahara, through its subsidiary, WAGL Energy Limited, is already working towards investing $1bn to ramp up its LPG fleet and terminal infrastructure over the next five years. In addition to the vessel fleet, Sahara is in the process of building over 120,000 metric tonnes of LPG storage in eleven countries,” he said.