With just N97, Nigerians can get a litre of fuel soon. The federal government has disclosed plans to sell fuel at a reduced price of N97 per litre. This is because the government is considering encouraging the use of compressed Natural Gas (CNG) as an alternative to Premium Motor Spirit(PMS).
The Minister of State for Petroleum Resources, Timipre
Sylvia said that the Petroleum Industry Bill (PIB) will be passed before May
Sylvia explained that payment of subsidy on petrol has created holes in the finances of the nation and as such the government needed to encourage Nigerians to start to use CNG, he said if this was used, it would crash the cost of transportation and eliminate the huge burden of subsidy payment. He further explained that CNG costs less than the subsidized price for PMS. While PMS sells for N145 per litre, unit for unit, CNG costs between N 95 and N97 per litre.
He stated that Nigerians would never experience fuel scarcity again and this should be taken into consideration.