Federal Government plans to reduce price of petrol to N97 per litre

The Federal Govenment declared that it is attempting to give an elective fuel called Compressed Natural Gas (CNG) which will cost about N95 to N97 per liter.

The Minister of State for Petroleum Resources, Timipre Silva on Thursday, January 16, 2020 in Abuja, declared the arrangement to present a less expensive and elective fuel, when he was asked by columnists whether the administration would decrease the siphon cost of the Premium Motor Spirit (PMS) to make it progressively moderate.

As indicated by TheNation, the priest said the CNG has experienced a pilot venture in Benin City, where more than 10,000 vehicles are as of now running on it.

He stated:

"What we have chosen is that we should attempt to give the majority another option. This will move the majority to CNG.

"That is transport vehicles for instance, out of the PMS circle to utilize the CNG. CNG cost not exactly the financed PMS. Per liter, the financed pace of the PMS is N145 per liter. CNG will cost about N95 to N97 per liter."