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

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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.

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