Can This Happen? ‘Soon, Fuel Will Sell At N97 Per Litre,’ FG Announces
The Federal Government says a plan is in motion to provide alternative fuel, Compressed Natural Gas (CNG), that would cost between N95 to N97 per litre.
The Minister of State for Petroleum Resources, Timipre Sylva, disclosed this while addressing journalists in Abuja on Thursday, January 16, 2020.
He noted that CNG has undergone a pilot project in Benin City with over 10,000 vehicles already running on it.
With CNG, Sylva said that the cost of fuel will reduce to about N97 per liter.
“What we have decided is that we should try and give the masses an alternative. That will be to move the masses to CNG.
“CNG cost less than the subsidized PMS. Per litre, the subsidized rate of the PMS is N145 per liter. CNG will cost about N95 to N97 per liter,” the minister announced.
While stating that Nigerians would never experience fuel scarcity again, Sylva expressed optimism that the Petroleum Industry Bill (PIB) will be passed before May 29, 2020.