Firms to curb gas explosion, deepen domestic utilisation
A move by Nigerian Navy Holdings, through its subsidiary, Admiralty Exchange Limited in partnership with AYM Shafa Holdings, promises to curb the gas explosion in Nigeria and enhance domestic utilisation of the commodity.
The development will also reduce the supply gap in the country as the government seeks to boost LPG supply to three million metric tonnes.
Chief of Naval Staff, Vice Admiral Emmanuel Ogalla, said the project would enlarge the commercial asset base of Admiralty Exchange.
Represented by Group Managing Director, Navy Holdings, Hamza Kaoje, Ogalla, said the build-own-operate-transfer (BOOT) business model used in running the facility is practised by other sister services in the country.
He noted that at the end of the tenement period, the property would revert to Admiralty.
Ogalla stated that the location of the plant is strategic and timely considering the number of personnel and other factors in the barracks, adding that the plant would provide clean and affordable cooking gas to the residents of the barracks and environs.
Ogalla urged the management to ensure full optimisation of the structure to enhance the living standard of personnel in the barracks and environs, while asking them to consider retired officers or their wards in employment decisions.
According to him, one cardinal principle of the chief of navy staff is personnel welfare and effective utilisation of resources at the force’s disposal.
Group Executive Director, Business Development, Shafa Holdings, Musa Yahaya, applauded the government for approving Executive Ordertive which enables the armed forces to go into business partnerships with indigenous businesses.
He said that LPG is a deregulated product in the country, but the company ensures integrity in its business offerings, adding that prices, which are beyond their control, are determined by demand and supply.
“The plant is one of the 225 metric tonnes stands that we are planning for this location. The second would be installed as soon as we establish demand. Our team of professionally driven workforce would ensure an uninterrupted and safe supply of LPG to the barracks residents, which would help reduce the long hours residents spend in getting to other locations to purchase such products thereby increasing their focus on their major task to protect and defend the nation and assets,” he added.
Managing Director, Admiralty Exchange, Commodore Pepple, said the project has been completed within the stipulated time frame.
He added the project would close the wide gap between demand and supply of gas in Navy Town and its environs.
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