Gas Expansion Programme can resolve subsidy challenges-IPMAN
The Independent Petroleum Marketers Association of Nigeria (IPMAN) have said the N250 billion Central Bank of Nigeria (CBN) Gas Expansion programme can settle the perennial crisis of petrol subsidy.
Its National Vice President, Alhaji Abubakar Maigandi, who disclosed this said an implementation of the programme can reduce Nigeria’s reliance on petrol and its associated challenges.
The Gas Expansion Programme, according to the apex bank, is to support players in the industry to produce and distribute more gas.
The gas includes: Compressed Natural Gas for fuelling vehicles, especially the passenger ones and the Liquidfied Natural Gas (LNG) for domestic has utilisation.
Describing the initiative as apt, the National Vice President said with the implementation, transporters can have alternative to their choice of petrol.
He said: “That CBN intervention programme is a very good one provided it can be distributed to marketers to expand their gas businesses as the government is planning to reduce dependence on petrol and remove subsidy”.
He added that even though his members are yet to access the fund, the association has been holding meetings with the CBN on how to access it.
President, Consumer Protection Network, Barrister Kola Olubiyo, who also said the CBN intervention programme was a right step in the right direction.
He noted it will bring to an end the perennial crisis occassioned by fuel subsidy.
The activist said: “The issue of fuel subsidy and its attendant crisis will be taken out. So, it is a welcome development”.
Nation/Hauwa Abu
