The Nigerian Army has officially commenced its programme to convert petrol-fueled operational vehicles to eco-friendly Compressed Natural Gas (CNG), in alignment with the Federal Government’s Presidential Compressed Natural Gas Initiative (PCNGI).
The Presidency has said that the cost of Compressed Natural Gas (CNG), a cheaper alternative to Premium Motor Spirit, otherwise known as petrol, is projected to cost N250 per litre.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has assured that it has the numerical strength to force down the price of Premium Motor Spirit also known as petrol, after the pump price of the product skyrocketed following the removal of subsidy by the Federal Government.
FG, following its estimation claims alternatives to petrol, could be much cheaper.
Autogas to be dispensed into automobiles are Liquefied Petroleum Gas, Compressed Natural Gas, others.
The Nigerian National Petroleum Corporation (NNPC) has announced that it is building up business portfolios in the housing, power, and medical sectors.
‘’Anywhere in the world, if you want to buy anything, you have what is called the recommended retail price, the consumer protection agency would fix a price a price so that nobody can profiteer inordinately from the people." - Silva
As at the end of 2018, Nigeria's total proven gas reserves were 202Trillion Cubic Feet (TCF), 37.26% of the total African deposits.
