The Independent Petroleum Marketers Association of Nigeria has said that the price of Premium Motor Spirit also known as petrol is set to dwindle as private investors come into the oil sector.
Okoronkwo, who had supported the removal of subsidy and usage of CNG said bringing CNG which was cheaper than even firewood as an alternative energy would create relief for the government and its citizens.
He said the removal of subsidy was necessary because of the preferential for dollar which was so hard, adding that there was no crude refining in Nigeria, rather we produced. “We have also discovered that bringing an alternative that is cheaper than even firewood which is CNG will not only create relief for the government and its citizens but is environmentally friendly.“In Niger-Delta region you see billions of tonnes of gas flare being wasted daily, these are huge amounts that should be accruing to our GDP but we are wasting it because there is no market for it.
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