The Federal government has said that plans are underway to provide an alternative fuel called Compressed Natural Gas (CNG) that will cost between N95 to N97 per litre.

The government also promised to pass the Petroleum Industry Bill (PIB) before May 29, 2020.

Timipre Sylva, the Minister of State for Petroleum Resources disclosed this on Thursday, January 16, 2020, while addressing journalists in Abuja.

Sylva announced the plan to introduce a cheaper and alternative fuel when he was asked whether the government would reduce the pump price of the Premium Motor Spirit (PMS) to make it more affordable.

Minister of State for Petroleum Resources, Chief Timipre Sylva says the alyernative fuel has been tested in Edo state. (Punch)
Minister of State for Petroleum Resources, Chief Timipre Sylva says the alyernative fuel has been tested in Edo state. (Punch)

According to TheNation, the minister said the CNG has undergone a pilot project in Benin City, where over 10,000 vehicles are already running on it.

He said, “What we have decided is that we should try and give the masses an alternative. This will move the masses to CNG.

“That is transport vehicles for example, out of the PMS loop to be using the CNG. CNG cost less than the subsidised PMS. Per liter the subsidized rate of the PMS is N145 per litre. CNG will cost about N95 to N97 per litre.”

The minister maintained that Nigerians will never experience fuel scarcity again.