25.6 C
Abuja
Tuesday, February 25, 2020

Cheaper petrol of N97 per litre coming, says Nigeria’s Petroleum Minister

Must Read

 

As part of initiatives to give Nigerians cheaper petrol, the Federal Government says it is considering providing alternative petrol lower than the current N145 per litre.
The alternative is ‘Compressed Natural Gas’ which will cost between N95 to N97 per litre.

 

The Minister of State for Petroleum Resources, Timipre Sylva disclosed in Abuja.

The CNG fuel has undergone a pilot project in Benin City where over 10,000 vehicles are already running on it, Sylva said.

On fuel scarcity, the Minister assured Nigerians “will never experience scarcity of petroleum products again.”

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 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.”

Sylva also announced that the Petroleum Industry Bill (PIB) will be passed before May 29, 2020.
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Just ln: ln Edo, female native doctor, 2 yahoo boys, kidnapper roasted 

    A female native doctor, kidnapper and two Yahoo boys were on Monday burnt to death in Otuo community in Owan council area of Edo...

Teenage stealth thief hides in bank toilet, steals N340,000 at night 

  Outsmarting the security personnel, a16-year-old boy, Adekunle Ayomikun, sneaked into the toilet of a bank and took temporary shelter overnight to steal N340,000 from...

Ogun Gov. orders investigation into Remo Stars player’s killing by SARs

  Upset by the killing of Remo Stars Football Club defender, Kazeem Tiamiyu, Ogun State Governor Dapo Abiodun, has ordered an investigation into the extra-judicial death by...

More Articles Like This

- Advertisement -