“We’re 90% Ready”: Petrol Marketers Plans To Roll Out Cheap Fuel At N100 Per Litre

Independent Petroleum Marketers Association of Nigeria (IPMAN) has said it is ready to roll out cheap fuel for Nigerians

The association’s chairman, Chinedu Okoronkow, said the body would start to roll out Compressed Natural Gas at N100 per litre

He said the association is almost ready with its plan to cushion the effect of subsidy removal on Nigerians

Motorists and transport operators in Nigeria will witness relief soon after the Nigerian government ends the petrol subsidy, which caused a spike in the product’s price across the country.

The national president of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Okoronkwo, revealed that the association is 90% ready to roll out Compressed Natural Gas (CNG) as an alternative fuel, which would sell between N100 to N110 per litre before the end of June.

CNG will reduce Nigeria’s energy cost

He stated this during an interview on Channels Television and stressed that CNG would serve as an alternative to petrol.

The IPMAN boss explained that CNG would help reduce Nigeria’s energy consumption cost.

He said:-

“Very soon, we will roll out. We are 90 per cent close to that, which will also unveil many possibilities.”

Reports say Okoronkwo stated that the petrol subsidy removal had reduced the speed with which Nigeria would have gotten another energy alternative.

“IPMAN has brought relief to a lot of families. We have used our natural energy, CNG, to power vehicles, generators, and even cooking,” Okoronkwo said.

The alternative fuel is expected to reduce the country’s exposure to fuel imports as natural gas would be imported instead.

According to him, the adoption of CNG-powered cars has started gaining speed nationwide due to increased awareness about their efficiency and affordability, compared to ordinary petrol and diesel.

The IPMAN chairman said if the government accepts its plans, it will act as an assistant, bring relief and create job opportunities.

He said that IPMAN needs to create a market because the demand is already there.

He added that the association had gotten a lot of buy-in from companies overseas.