Olajide Olutuyi, Co-Founder/ CEO, Top-Olax Energy Limited

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Subjects of Interest

  • Frontier and Emerging Markets
  • Private Sector Development
  • Sustainable Development

2021 LPG Week in Dubai highlights need for energy transition 05 Jan 2022

The 2021 LPG Week held in Dubai between 5 – 9 December. The hybrid event was very successful, and memorable as one of the first international event to be held in-person in Dubai since the COVID-19 lockdown of the city following the outbreak of the pandemic.

The theme of the event was “Energizing Tomorrow” and almost 2,000 attendees participated in-person or virtually.

Doowe Gas at 2021 LPG Week in Dubai
Doowe Gas at 2021 LPG Week in Dubai

The LPG Week is an annual event of the World LPG Association (WLPGA), an organization founded in 1987, comprising and representing the full value chain of liquified petroleum gas worldwide. The WLPGA has consistently hosted the LPG Week across the globe, bringing together CEOs of major LPG companies, senior government officials, representatives of major intergovernmental organisations, and the media, etc.

The aim of the event is to foster business connections for commercial LPG, discuss the potential growth of the industry, and forge new business relationships.

Nigeria’s Vice President, Professor Yemi Osinbajo, led a high-powered Nigerian government delegation to the event and delivered a keynote address at the forum. Unfortunately, the major LPG companies operating in the country were absent at the event. However, a Nigerian LPG startup, Doowe Gas, participated and was represented by its Co-founder and CEO, James Atiti.

In his speech, Vice President Yemi Osinbajo said the impressive turnout at the year’s event demonstrated the collective desire to exchange innovative ideas on the future of the LPG business and discuss the potential it offers for clean energy transition and sustainable development. He further stated that for developing countries, unlike the rest of the world, the transition to net-zero emissions poses two existential crises. Aside the climate crisis, developing countries also have the challenge of lifting millions of their people out of extreme poverty. He, however, noted that access to clean energy is a major part of the solutions to the rampant poverty.

More than 2.6 million people globally are without access to clean cooking solutions. This results in millions of deaths from unclean and unsafe cooking practices yearly. There is, therefore, an urgent need to transition from fatally hazardous cooking fuels to cleaner energy. LPG and liquified natural gas (LNG) have a role to play in this regard: they are proven healthier alternatives to wood and traditional biomass fuels. Nigeria has also adopted, and is implementing, various clean cooking models across the country.

Prof. Osinbajo categorically stated that LPG remains an ideal fuel to support the journey to renewables if we accept it as a destination fuel. The Nigerian target for LPG consumption is about 5 million metric tonnes in 2022, and fostering net-zero carbon emissions requires about $6 billion investment in LPG infrastructure across the country. The government is ready to welcome investors to partner with the country to bring LPG to all Nigerians.

The LPG Week in Dubai also featured The World LPG Challenge ’21, a start-up competition launched by the WLPGA to find fresh solutions to challenges facing the LPG industry. Doowe Gas was among the finalist and the only Nigerian company represented at the exhibition stand during the main event. All finalists were able to present their chosen topic with precise clarity and boldness, which made the challenge a very impressive one. The Nigerian LPG startup won the overall 3rd prize.

Mr. Atiti said it was indeed a proud moment to represent the country on the global platform. He also delivered a paper on “Cooking with Wood? The Compelling Case for LPG” during the main plenary.

LPG Week 2022 will take place in New Delhi, India from the 5 – 9 December 2022.

Olajide Olutuyi, a Financial Nigeria columnist, holds a degree in Management from the University of Lethbridge, Canada; an MBA from the Australian Institute of Business; and a certificate in Social Impact Leadership from University of California, Berkeley, Haas School of Business. He is the Co-founder/CEO, Top-Olax Energy Limited and Executive Director, Samuel Olutuyi Foundation. Email: Olajide@theolutuyifoundation.org. Twitter: @jideolutuyi