The Nigerian Gas Association is urging the adoption of Compressed Natural Gas (CNG) as a viable alternative to Premium Motor Spirit or petrol, citing its cost-effectiveness. According to the association’s President, Akachukwu Nwokedi, CNG is 15% cheaper than petrol. Nwokedi made these remarks during a media briefing in Lagos, emphasizing the government’s role in ensuring affordable gas prices and endorsing CNG’s potential contribution to Nigeria’s economic growth.
Soaring prices of petrol, which have reached nearly N600 per litre in Lagos and over N700 per litre in the northern region, have sparked concerns about the need for alternative fuel sources. The adoption of CNG could not only address these rising costs but also alleviate other issues in the energy sector. Nwokedi mentioned that the recently enacted Petroleum Industry Act (PIA) would help tackle issues such as multiple taxation, payment for gas and fees in foreign currency, and provide fiscal incentives.
The Nigerian Gas Association’s advocacy for CNG aligns with the country’s vast gas resources, making it a more sustainable and economical choice in comparison to petrol. With its affordability and potential positive impact on the economy, the adoption of CNG could position Nigeria as a leader in alternative energy solutions.
By Olusola Akintonde/Punch
