The Nigerian Gas Association (NGA) is championing the adoption of Compressed Natural Gas (CNG) as a viable and cost-effective alternative to Premium Motor Spirit (PMS), commonly known as petrol. According to the NGA, CNG is not only more environmentally friendly but also comes at a significant cost advantage, being approximately 15% cheaper than petrol.
During a media briefing held in Lagos, Akachukwu Nwokedi, the President of the Nigerian Gas Association, emphasized the importance of making gas more affordable to the Nigerian population. He stated that Nigeria possesses abundant gas resources, which, if harnessed efficiently, can drive economic growth.
The call for adopting CNG comes as petrol prices in Nigeria have experienced significant fluctuations, with prices surging from around N185 per liter to nearly N600 per liter in Lagos and its environs, and even exceeding N700 per liter in some northern regions.
Nwokedi also stressed the need for a comprehensive review of the Petroleum Industry Act (PIA). Such a review, he explained, would help address various issues, including multiple taxation, payment for gas and associated fees in foreign currencies (dollars instead of the national currency, naira), fiscal incentives, and other regulatory concerns.
The NGA’s advocacy for CNG as a more affordable and sustainable fuel source aligns with global efforts to reduce reliance on fossil fuels and promote cleaner energy alternatives. CNG, being a cleaner-burning fuel, offers cost savings and contributes to reduced carbon emissions and a more sustainable energy future for Nigeria.
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