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Osinbajo dispensing fuel

Expect compressed Natural Gas as an alternative fuel this year—Minister

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Nigeria is on the verge of dumping the use of Premium Motor Spirit (PMS) for locally produced Compressed Natural Gas as an alternative fuel.

This was the revelation of the Minister of State for Petroleum Resources, Chief Timipre Sylva, on a national television interview, monitored in Lagos.

He said efforts are currently on for the massive development and production of Compressed Natural Gas as an alternative fuel to Premium Motor Spirit this year.

During the TV chat, Sylva observed that “The gas sector will definitely grow. Nigeria is described as a gas territory with oil in it. Unfortunately, we have not taken advantage of our gas resources.

“All the gas we have found in Nigeria was found while looking for oil, not looking for gas. We are going to have some targeted exploration for gas.”

“We also want the people of Nigeria to have an alternative to PMS. We want to see how gas can be converted to CNG.

“And also we are trying to improve the LPG penetration. Unfortunately, Nigeria has the lowest LPG penetration in the world. We are very rich in gas. This year we are going to focus on this area.”

Business Hilights recalls that earlier in the year, the Minister had declared 2020 as the year of gas revolution in Nigeria.

Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.
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