“Nigerian Gas Association Advocates 15% Cheaper CNG as Alternative to Petrol Amid Soaring Fuel Prices”

Date:

The Nigerian Gas Association has urged the adoption of Compressed Natural Gas (CNG) as a viable substitute for Premium Motor Spirit (petrol), citing a 15% cost advantage.

Thank you for reading this post, don't forget to subscribe!

Speaking at a press conference in Lagos, the association’s President, Akachukwu Nwokedi, emphasized the need for the government to ensure gas affordability.

Supporting the implementation of CNG, Train 7, Nwokedi underscored Nigeria’s abundant gas reserves as a catalyst for economic development.

Nwokedi further highlighted the importance of addressing issues such as multiple taxation, dollar-based payments for gas, and fiscal incentives by reviewing the Petroleum Industry Act (PIA).

Amidst rising petrol prices, which escalated to nearly N600/litre in Lagos and over N700/litre up north, the call for CNG adoption gains even more significance.

Godwin Okafor, The Naija247news
Godwin Okafor, The Naija247newshttps://naija247news.com
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

Share post:

Subscribe

Popular

More like this
Related

Nigeria’s Decarbonization Must Tackle Deforestation and AFOLU Emissions

To envision Nigeria's path to decarbonization is to see...

Global Gas Flaring Surges in 2023 Despite Efforts to Curb Methane Emissions

Gas flaring, a process where oil and gas companies...

Economist Predicts Gradual Decline in Nigeria’s Inflation Starting July

Bismarck Rewane, CEO of Financial Derivatives Company, predicts that...

Nigeria’s FX Reserves Peak at $33.58 Billion Amid Naira Stability

Nigeria’s foreign exchange (FX) reserves have reached their highest...
× How can I help you?