• April 13, 2021

#Deregulation: NNPC To Setup CNG Refilling Plants Across The Country

(AGENDAWATCHDOG) – The Nigerian National Petroleum Corporation (NNPC) has announced its readiness to commence the activation of Compressed Natural Gas (CNG) refill stations for motorists across the country, according to a statement by its Group General Manager Public Affairs Division, Dr Kennie Obateru, recently in Abuja.

The CNG (methane stored at high pressure) is a fuel that can be used in place of gasoline, diesel fuel and liquefied petroleum gas (LPG) and its combustion produces fewer undesirable gases than the aforementioned fuels.

The deregulation of the oil downstream had triggered increase in the price of Premium Motor Spirit (PMS)also known as petrol in the country.

POTENTIAL IMPACT:  The CNG Plants would serve as alternative to petrol for motorists in the country, which will ultimately lead to reduction in demand for the product and eventual reduction in price.

Agenda Watchdog

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