The Federal Government says a plan is in motion to provide alternative petrol, Compressed Natural Gas (CNG), that would cost between N95 to N97 per litre.
The Minister of State for Petroleum Resources, Timipre Sylva, disclosed this while addressing journalists in Abuja on Thursday, January 16, 2020.
He noted that CNG has undergone a pilot project in Benin City with over 10,000 vehicles already running on it.
With CNG, Sylva said that the cost of fuel will reduce to about N97 per litre.
“What we have decided is that we should try and give the masses an alternative. That will be to move the masses to CNG.
“CNG cost less than the subsidised PMS. Per litre, the subsidised rate of the PMS is N145 per litre. CNG will cost about N95 to N97 per litre,” the minister announced.
While stating that Nigerians would never experience fuel scarcity again, Sylva expressed optimism that the Petroleum Industry Bill (PIB) will be passed before May 29, 2020.
Related posts
World Richest Prisoner: US Court Sentence Binance Founder to 4month imprisonment
The founder of cryptocurrency firm Binance was sentenced to four months in US prison on Tuesday after pleading guilty to…
Emefiele in deep trouble as Ex-Director narrate how he received $600,000 for him
An Ikeja Special Offences Court heard yesterday from a former Central Bank Nigeria (CBN) Director in charge of Information and…