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Business News of Wednesday, 19 July 2023

Source: legit.ng

Cheaper fuels coming as FG plans 9,000 filling stations for autogas co-location

Fuel pump Fuel pump

According to the federal government, there are more than 9,000 licensed filling stations across Nigeria fit for co-location of facilities that dispense autogas fuel.

The Nigerian government disclosed in a communique issued by the Nigerian Institute of Transport Technology (NITT) at the end of a stakeholders’ meeting the provision of a technical workforce and facility for developing and promoting autogas as a transport fuel in Nigeria.

Nigeria’s gas reserve is over 200 billion cubic feet Punch reports that the conference revealed a need for choices for transportation fuels such as Liquified Natural Gas, Liquified Petroleum Gas, and Compressed Natural, also known as autogas, which could be used and accepted as an alternative automotive fuel.

Per the communique, Nigeria’s gas reserves were about 209 trillion cubic feet, stating that gas production amounted to 8.15 to 8-35 billion standard cubic feet daily, enough for Nigeria.

FG licenses over 9,000 autogas stations nationwide The NITT said more than 9,000 licensed retail outlets are categorized as fit-for-purpose dual-fuel vehicles in Nigeria.

The communique said: “There are 50 conversion centers currently upgrading for mass conversion and training of technicians in the country. Auto assemblers are already producing fit-for-purpose dual-fuel vehicles in the country. The document also disclosed that the government supported the availability of all autogas fuel streams and that adopting autogas technology was good for Nigeria. The communique stated that the forum recommended that the Federal Ministry of Transportation collaborate with relevant stakeholders and the private sector to research, develop, and deploy autogas fuel in Nigeria."