Fuel marketers have been working to offer alternatives to petrol after revealing that switching from PMS to CNG would reduce the high prices Nigerians are now paying for fuel.
PMS is Premium Motor Spirit (petrol) while CNG is Compressed Natural Gas.
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The marketers made this call during an interview on Wednesday via the National President, Independent Petroleum Marketers Association of Nigeria, Chinedu Okonkwo.
The use of Compressed Natural Gas in automobiles, when fully deployed, is going to be over 400 per cent cheaper than Premium Motor Spirit, Okonkwo said.
Petrol subsidy was removed in less than two days after President Bola Tinubu declared during his inaugural address on May 29, 2023 that the payment of subsidy on PMS had gone.
The pump price of petrol spiked from N198/litre to an average of over N540/litre across the country, a development that also led to an increase in the cost of goods and services nationwide.
However, the IPMAN President said;
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