The Federal Government has said a plan is already in place to provide alternative petrol, Compressed Natural Gas (CNG), that would cost around N95 to N97 per litre, very soon.
The Minister of State for Petroleum Resources, Timipre Sylva, revealed this as he spoke to journalists in Abuja today.
According to him, CNG has undergone a pilot project in Benin City with more than 10,000 vehicles already running on it.
His words, “What we've 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 subsidised PMS. Per litre, the subsidised rate of the PMS is N145 per litre. CNG will cost about N95 to N97 per litre.”
Timipre added that he hopes the Petroleum Industry Bill (PIB) will be passed before May this year.