The Federal Government, FG, is set to revolutionize the energy landscape in Nigeria by promoting the use of Compressed Natural Gas (CNG) as an alternative to petrol.
This initiative aims to address the challenges of petroleum product scarcity and provide consumers with more accessible energy options.
During a recent meeting with key oil marketing companies in Abuja, Farouk Ahmed, the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, revealed the government’s plans. He emphasized that intending retail licensees would now be required to establish CNG points at their filling stations before receiving final government approval.
Ahmed urged oil marketers to commence the process of integrating CNG points into their filling stations, highlighting President Bola Tinubu’s directive for government vehicles to be powered by CNG. He emphasized that new retail license applications would not be approved without CNG points, signaling the government’s commitment to promoting alternative energy sources.
Speaking on the significance of the CNG initiative, Ahmed emphasized the abundance of gas resources in Nigeria, totaling over 200 trillion cubic feet. He stressed the need to harness these resources to reduce the economic burden of petrol, especially amidst exchange rate fluctuations.
In addition to promoting CNG, the government is exploring solar energy options to power retail outlets and depots, thereby reducing reliance on diesel generators. This move aligns with efforts to transition towards cleaner and more sustainable energy sources.
Regarding the recent shortage of petrol across the country, Ahmed attributed it to logistical challenges faced by NNPC Limited in product transportation. To address this, plans are underway to equip retail outlets and trucks with trackers to monitor product movement and consumption accurately.
In response to the government’s initiatives, oil marketing companies expressed their readiness to support efforts to increase energy sources for Nigerians. They emphasized the importance of national interest and urged Nigerians to be patient as these transformative measures are implemented.
As the Federal Government takes proactive steps to promote CNG usage and diversify the energy sector, stakeholders remain optimistic about the positive impact on Nigeria’s energy landscape and economy.
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