The nation’s subsidy on petrol may be around N417 billion in 2020. Photo:PIXABAY
The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Friday said the revenue gained from the removal of petrol subsidy should be used for free conversion of vehicles to gas and distribution of gas cylinders to Nigerians.
Mr Mike Osatuyi, National Operations Controller, IPMAN gave the advice in an interview with the News Agency of Nigeria (NAN) in Lagos.
Osatuyi said there was an urgent need to switch massively to gas utilisation in Nigeria in order to sustain the deregulation of the downstream sector by the Federal Government.
He said with over 200TCF proven reserves of natural gas, Nigerians would be insulated from the rising cost of crude oil at the international market if more focus was placed on domestic gas utilisation.
Osatuyi said: “If you look at the electricity sector, the government is financing the National Mass Metering Programme to provide prepaid meters for…
Source: Guardian Newspaper
