FG’s N250b gas intervention fund targets CNG, LPG as alternative fuelsBusiness — The Guardian Nigeria News – Nigeria and World News

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The Federal Government has stated that its N250 billion intervention facility for the national gas expansion programme is targeted at making Compressed Natural Gas (CNG) the fuel of choice for transportation and Liquefied Petroleum Gas (LPG), domestic cooking, captive power and small industrial complexes.

To this end, the Central Bank of Nigeria (CBN) has capped the maximum loan an obligor can access under its N250 billion intervention fund for the gas sector at N10 billion.

The apex bank disclosed this in a guideline titled, “Framework for the implementation of intervention facility for the national gas expansion programme,” that was published recently.

Meanwhile, the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has expressed optimism that the full deregulation of the downstream sector will aid the growth of ancillary industries in the sector.

According to the CBN, the fund was established to stimulate investment in the gas value chain and deepen…



Source: Guardian Newspaper