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Home Sectors Energy

Gas is the new petrol – FG to Nigerian car owners

Chike Olisah by Chike Olisah
September 11, 2020
in Energy
Gas is the new petrol - FG to Nigerian car owners, intervention fund, NCDMB, output cut, Petroleum Industry Bill to be passed by mid-2020, says Sylva, FG discovers crude oil in north, says there’s more , OPEC, non-OPEC countries to meet as Saudi, Russia price war affects Nigeria’s budget, FG considers fuel price reduction, OPEC deal: Nigeria to generate additional $2.8 billion revenue as FG reacts
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The Federal Government has revealed that Nigerians can now convert cars using petrol to gas, which is cheaper, with effect from October 2020.

The Minister of State for Petroleum Resources, Timipre Sylva, disclosed this during a press briefing with newsmen in Abuja on Thursday, September 11, 2020.

READ: FG discloses plan to sell fuel at N97 per litre with new initiative

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Sylva said, “To give it (deregulation) a human face, we are introducing an alternative fuel. We are giving autogas. Gas will now become fuel for our cars. This programme will be rolled out within the next month. So, if you go to a filling station and you convert your car to dual capability or dual fuel, then you drive into a typical filling station, you will find gas LPG, you find CNG and NLG being sold.

READ: FG discloses when Nigeria will start exporting petroleum products

“So, if you look at the price of PMS versus the price of gas and you think that gas is cheaper which of course, it is going to be cheaper. Gas will even be cheaper than PMS as it is today. So you see that we are also giving an alternative to ordinary Nigerians.’’

READ: FG introduces gas transport network code

Nairametrics, reported that preparatory to this, the Department of Petroleum Resources (DPR), had ordered about 9,000 filling stations across the country, to start the installation of facilities for gas products. The move is expected to improve the utilization of Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), Liquefied Natural Gas (LNG), and Autogas, as an alternative fuel for Nigerians.


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Tags: department of petroleum resourcesDPRTimipre Sylva
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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Comments 2

  1. Anonymous says:
    September 11, 2020 at 10:50 am

    Helle I am Osadebe Chike Dennis from Delta State. I needed advise on how to go about buying shares , I am a beginner

    Reply
  2. Chief H. Nd Duroha says:
    September 12, 2020 at 6:25 am

    The way the Govt is carrying on, one will will think that the system of conversion from petrol to gas is so simple that any Jack can decide on it over night and do it. If the system is that simple and acceptable, how come people are not converting abroad?

    Reply

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