The Federal Government plans to provide alternative petrol called Compressed Natural Gas (CNG), which a common man can buy between N95 to N97 per litre.
This was made known by the Minister of State for Petroleum Resources, Chief Timipre Sylva, while addressing reporters in Abuja on Thursday, January 16, 2020.
Sylva announced the plan to introduce a cheaper and alternative fuel when he was asked whether the government would reduce the pump price of the Premium Motor Spirit (PMS) to make it more affordable.
According to TheNation, the minister said the CNG has undergone a pilot project in Benin City, where over 10,000 vehicles are already running on it. He said:
“What we have decided is that we should try and give the masses an alternative. This will move the masses to CNG.
“That is transport vehicles for example, out of the PMS loop to be using the CNG. CNG cost less than the subsidised PMS. Per liter the subsidized rate of the PMS is N145 per litre. CNG will cost about N95 to N97 per litre.”
The minister maintained that Nigerians will never experience fuel scarcity again. He also promised that the government will pass the Petroleum Industry Bill (PIB) before May 29, 2020.
Meanwhile, KanyiDaily recalls that NNPC had hinted that the price of fuel may be increased soon, as it described the N145 pump price as the cheapest in West Africa.