Fuel Price News: FG Orders Filling Stations To Begin Selling Fuel At the Low Price That Shocks Nigerian
Fuel Price News: FG Orders Filling Stations To Begin Selling Fuel At the Low Price That Shocks Nigerian
All filling stations around the country have been compelled by the federal government to start selling CNG through the NMDPRA. It is anticipated that the new directive will take effect right away, allowing Nigerians to refuel their cars for as little as N200.
There is optimism that Nigerians will benefit from lower gas costs once the Dangote refinery starts up. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has mandated that Compressed Natural Gas (CNG) be sold at all filling stations nationwide.
At a meeting in Abuja, NMDPRA’s chief executive officer, Engineer Farouk Ahmed, revealed this. According to him, filling stations must now make CNG more accessible to customers.
CNG is a fuel gas substitute for gasoline that, when under pressure, stays clean, odorless, and non-corrosive. According to the NIPCO Gas representative, AutoGas is sold for roughly N200 per standard cubic foot for automobiles, cabs, and tricycles, while CNG is marketed for N260 per standard cubic meter (SCM) for big commercial vehicles.
FG orders on CNG
In addition, Ahmed stated that new retail license applications will no longer be accepted without CNG points about the new directive to fill stations.
He went on to call the federal government’s campaign to promote CNG usage as a fuel substitute a revolution.
The head of NMDPRA also stated that the government was committed to lessening the impact of gasoline on the economy, according to Punch.
His words:
“To ensure easy access for customers, we want to install CNG add-ons at most of our forthcoming and larger gas stations, similar to our current PMS, AGO, and DPK facilities. But first, the supply side needs to be addressed. To make sure the product is offered to customers at a competitive price, we are working with producing firms, our sister agency NUPRC, NNPC Limited, and the Gas Aggregation Company of Nigeria (GACN).
This initiative supports the President’s goal of decreasing the nation’s heavy reliance on PMS by moving toward increased CNG usage for mobility. We are calling on businesses to contribute to this project and make sure that customers can easily access CNG points of sale. Following the conclusion of the consultation process, we will require gas stations to stock CNG add-ons. Petrol stations will need to have a CNG add-on for new applications.”
Filling stations sell petrol at new prices
Due to the scarcity, numerous filling stations nationwide have changed the price of their pumps, according to a previous report by Legit. ng.
Some gas stations in Lagos charge N650 a liter, but in states like Abia, the price ranges from N700 to N750.
According to reports, the underground market is selling a liter of fuel for as much as N2,000 in the northern region of the country, where the shortage is considerably acute.
