Axxela Inaugurates $30m Gas Pipeline Network in Lagos

  • Axxela Inaugurates $30m Gas Pipeline Network in Lagos

Axxela Limited, a gas and power portfolio company, has announced the inauguration of its Greater Lagos IV gas pipeline network and the newly renovated Elegbata Sports Complex.

The company, in a statement on Wednesday, said gas pipeline network was developed by its subsidiary, Gaslink Nigeria Limited, in partnership with the Nigerian Gas Marketing Company.

It said spanning from Ijora through Lagos Island’s Marina axis, the $30m pipeline would supply gas to commercial and industrial off-takers along its route, and already had First Power and Island Power among its customers.

The Chief Operating Officer, Axxela, Mr Rasheed Olaoluwa, said, “This occasion demonstrates our continued contribution to the growth of Lagos State’s burgeoning socio-economic landscape, and also reinforces Axxela’s commitment as trailblazers in the distribution of natural gas to industries.

“We are immensely proud of this pioneering effort. There remains a considerable demand for power generation, and this pipeline extension project will revitalise industrial development across the metropolis.

Olaoluwa said the inauguration the sports complex affirmed the company’s constant engagement with host communities in its areas of operation.

The Executive Chairman, Lagos State Sports Commission, Dr Kweku Tandoh, was quoted as saying, “I would like to thank Axxela for developing this sports facility which indicates its firm commitment to the welfare of its host communities.

“The Lagos State Government is steadfast in the provision of world-class facilities under the umbrella of tourism, entertainment, hospitality, and sports excellence together.”

According to the statement, as part of its sustainability efforts, Axxela recently renovated Olowogbowo Methodist Primary School in Lagos in a bid to improve the quality of education available.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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