The Federal Government has revealed its plans to make fuel cheaper by providing alternative petrol.
The Minister of State for Petroleum Resources, Timipre Sylva disclosed on Thursday, that the proposed alternative ‘Compressed Natural Gas’ will cost between N95 to N97 per litre.
According to him, the Petroleum Industry Bill(PIB) will be passed before May 29, 2020.
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He explained that the CNG fuel has undergone a pilot project in Benin City where over 10,000 vehicles are already running on it. He also promised that the citizens of Nigeria will never experience fuel scarcity again.
“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 (Fuel) loop to be using CNG. CNG costs less than the subsidized PMS Per litre. The subsidized rate of the PMS is N145. CNG will cost about N95 to N97 per litre” he said.
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