The independent Petroleum Marketers Association of Nigeria (IPMAN), has announced plan to roll out Compressed Natural Gas (CNG) as an alternative for automotive fuel, to cushion the effect of fuel subsidy removal by federal government.
In an interview on Channels Television’s Business Morning on Monday, the national president of the association, Elder Chinedu Okoronkwo said CNG has evolved into a viable alternative to petrol, indicating IPMAN plan to sell for N100 to N110 per liter by the end of June.
This according to him, will bring relief to Nigeria’s transport industry and bring down the exorbitant price of the product throughout the country.
Mr Okoronkwo explained that CNG would help bring down the cost of energy in the country, adding, “Very soon, we will roll out. We are 90 percent close to that, and that will also unveil many possibilities.”
He added that CNG is expected to reduce the country’s reliance on fuel imports significantly because natural gas will not be imported.
“IPMAN has brought relief to a lot of families. We have got the usage of our natural energy, CNG, to power vehicles, generators, and even cooking, the IPMAN president said.
According to Okoronkwo, CNG-powered cars have begun to gain traction in the country as a result of increased awareness about their efficiency and affordability when compared to traditional fuels such as diesel and petrol.
He however called for government understanding and cooperation, saying “if the government buys into what we are saying, it will act as an assistance, bring relief, and create job opportunities.”
What we need the government to do is create the market. The demand is there, the IPMAN president said.
