Asiko Holdings Unveils LPG Terminal in Lagos to Lower Prices

Asiko Holdings Limited has completed a 5,000-metric-tonne Liquefied Petroleum Gas (LPG) and propane terminal in Ijora, Lagos, with the aim of sourcing cheaper cooking gas supplies and reducing prices for Nigerian consumers. The completion ceremony occurred on September 30, with Managing Director and Chief Executive Officer Felix Ekundayo stating that the terminal will allow Asiko Energy to access a wider range of LPG producers, including those offering lower-cost products.

The terminal features blending capabilities for greater sourcing flexibility and is connected to three delivery jetties via approximately two kilometres of underground pipeline. The construction utilized around 4,000 truckloads of sand, over 6,000 tonnes of steel, and 1,500 stone columns sunk to a depth of 13.5 metres.

The project received support from the Midstream and Downstream Gas Infrastructure Fund and financing from Stanbic IBTC, Wema Bank, and InfraCredit. Chairman Alex Ogedegbe noted that the project took nearly two decades to complete and emphasized the role of government-backed funds in unlocking private capital for gas infrastructure.

The company plans to expand the terminal to include LNG storage and distribution.