The high cost of premium motor spirit (PMS) in the nation has been attributed to the logistics portion of the pump price, particularly the absence of pipelines.
Shettima Imam, the executive vice chairman of Cleanergy Innovation Ltd (CIL), emphasised in her remarks in Abuja that Nigeria has limited capacity for refineries.
According to a The Guardian report, he added that even though the nation has an abundance of gas and uses less than 3% of it domestically, it imports most of its PMS.
He said that the Nigerian National Petroleum Company Limited and CIL, a business that offers turnkey, custom-made compressed natural gas (CNG) solutions for the autogas and power generation segment in Nigeria, will be making significant investments in gas infrastructure.
Even though his company has already opened six CNG filling stations in Abuja, IMam claimed that reaching this milestone was a big advancement in Nigeria’s quest for reasonably priced, long-lasting, locally sourced, and ecologically friendly fuel options.
Imam emphasized that in order to support President Bola Tinubu’s CNG plan and diversify energy options, it is imperative that the new facilities be built in a way that adheres to international best practices and guarantees all consumers receive safe, dependable, and effective service.
TimesNow.com.ng reported that more Nigerians are rushing to convert their vehicles from petrol and diesel to compressed natural gas (CNG).
The federal government has made the service free and subsidised for commercial vehicles and inaugurated several centres nationwide.
TimesNow.com.ng understands that conversion centres nationwide are witnessing increasing demand from vehicle owners.
Source: TimesNow.com.ng
