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

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

68

 

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.

Leave a comment

Related Articles

BreakingFeaturedHighlightNewsWorld News

Niger’s ousted president is being denied food and electricity, says European Union

The European Union Friday said it had “deep concern” about the treatment...

BreakingFeaturedHighlightTop Story

Breaking: Ex-Kaduna Gov. El rufai might reject ministerial appointment 

The immediate past Governor of Kaduna State, Malam Nasir El rufai is...

BreakingFeaturedTop StoryTrending Story

President Tinubu appoints Ajuri Ngelale as special adviser media & publicity

President Bola Ahmed Tinubu, GCFR, has approved the appointment of Chief Ajuri...

FeaturedHealthHighlightTrending Story

Are ‘balloons’ the new drug epidemic in Nigeria?

They may look like the normal balloons you see at children’s birthday...

EntertainmentFeaturedHighlightTrending Story

From Fame to Penury: The Despicable Tales of Nigerian Veteran Thespians

The entertainment industry, particularly the movie circle, has been in the eye...

FeaturedTrending Story

Hubby’s watery sperm, erectile dysfunction crash two-month-old marriage

A husband’s watery sperm has forced his wife to urge the court...

AviationBreakingFeaturedHighlightNews

Max Air Acquires 16 Year Old Boeing 777-200

Kano based Max Air Limited has taken delivery of its first Boeing...

FeaturedTrending Story

From waste collection to classroom: Story of Adamu’s pursuit of education

Coming from the background of a family of seven children and parents...

Articles and OpinionFeaturedHighlightNewsTop StoryTrending Story

Between the dialectics and the benefits of petroleum subsidy removal

By Paul Njowusi For many years, successive administrations in Nigeria had embraced...

FeaturedTop Story

Buhari inaugurates N19.6bn Customs corporate hqts in Abuja, says new Customs Act will drive efficiency

With the newly signed Customs Act and a befitting corporate headquarters for...

BusinessFeaturedOil & GasTrending Story

Africa’s largest refinery, Dangote Petroleum Refinery and Petrochemicals, Lekki-Lagos inaugurated

Africa’s largest refinery, Dangote Petroleum Refinery and Petrochemicals planted in Ibeju-Lekki area...

FeaturedOil & GasTop Story

PlA: NNPCL/NUIMS leverage financial autonomy, clear huge backlog of Cash-Call debt owed Joint Venture partners

``Under the guidance of forward-thinking leadership and a series of strategic initiatives,...