The Managing Director and Chief Executive Officer of Eterna Plc, Olumide Adeosun, has highlighted the critical role of targeted funding in boosting Liquefied Petroleum Gas (LPG) consumption in Nigeria.
He emphasized that while compressed natural gas has gained increasing government attention, LPG usage has remained stagnant despite its significant benefits for households and the environment.
Adeosun noted that LPG, as a cleaner and more efficient alternative to traditional fuels like firewood and kerosene, has the potential to improve public health and reduce environmental degradation. He urged policymakers to implement incentives that would support investment in the LPG sector, including infrastructure subsidies and measures to stimulate local production.
The Eterna CEO further explained that the current pricing system and limited distribution networks are major barriers to widespread adoption of LPG. He called for regulatory reforms to make the product more accessible and affordable to average Nigerian households, ensuring that clean energy solutions reach all regions of the country.
Adeosun made these remarks amid ongoing government efforts to diversify Nigeria’s energy mix and reduce reliance on traditional fuels that contribute to environmental pollution and health risks. He expressed optimism that strategic interventions, backed by targeted funding, could substantially grow LPG consumption and align Nigeria with global trends toward cleaner energy sources.
Under Adeosun’s leadership, Eterna Plc has actively engaged in refining and distributing petroleum products, demonstrating a commitment to Nigeria’s energy transition. The company has backed initiatives promoting cleaner energy alternatives, particularly LPG, to contribute to sustainable development in the country.
In conclusion, Adeosun reiterated that a combination of targeted funding, policy reforms, and infrastructure development is essential to unlock the full potential of LPG in Nigeria. Such measures could lead to better public health, environmental sustainability, and economic growth, ultimately supporting the country’s long-term energy goals.