The Federal Government has revealed
plans to make fuel cheaper by providing alternative petrol, Compressed Natural
Gas, CNG, for the common man.
Minister of State for Petroleum
Resources, Timipre Sylva disclosed that the proposed CNG will cost between N95
to N97 per litre.
Addressing newsmen in Abuja recently,
Sylva also promised that the Petroleum Industry Bill (PIB) will be passed
before May 29, 2020.
He disclosed that the CNG fuel has
undergone a pilot project in Benin City where over 10,000 vehicles are already
running on it.
According to Sylva, Nigeria will
never experience fuel scarcity again with CNG.
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 CNG. CNG cost less than the subsidized
PMS. Per liter the subsidized rate of the PMS is N145 per litre. CNG will cost
about N95 to N97 per litre
