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The Nigerian organization Independent Petroleum Marketers Association (IPMAN) has stated that it is prepared to offer cheap fuel to its citizens.
Chinedu Okoronkow, the association's chairman, announced that the organization would begin to roll out compressed natural gas at N100 per litre.
He claimed that the organization's strategy to mitigate the effects of the loss of subsidies on Nigerians is almost completed.
Soon after the Nigerian government stops the petrol subsidy, which led to a jump in the product's price across the nation, motorists and transport companies in Nigeria would feel some relief.
Chinedu Okoronkwo, national president of the Independent Petroleum Marketers Association of Nigeria (IPMAN), disclosed that the organization is 90% prepared to introduce compressed natural gas (CNG) as an alternative fuel by the end of June. CNG would cost between N100 and N110 per litre.
Nigeria's energy costs will drop thanks to CNG.
In an interview with Channels Television, he made this claim and emphasized that CNG would replace gasoline.
The head of IPMAN outlined how CNG would lower Nigeria's energy costs.
He stated:
“We'll launch very shortly. We are 90% there now, and that will open up a lot of opportunities.
According to reports, Okoronkwo claimed that the withdrawal of the gasoline subsidy has slowed down Nigeria's acquisition of a new energy source.
Many families have found respite thanks to IPMAN. According to Okoronkwo, we have used our natural energy, CNG, to power automobiles, generators, and even cooking.
As natural gas will be imported in its place, the alternative fuel is anticipated to lessen the country's susceptibility to fuel imports.
He claims that growing knowledge of CNG-powered vehicles' affordability and efficiency compared to conventional petrol and diesel vehicles has caused their adoption to pick up speed across the country.
If the government approves of IPMAN's intentions, the chairman claimed they will function as a helper, provide respite, and open up job chances.
He claimed that because there is currently demand, IPMAN must build a market.
He continued by saying that the association has received a lot of support from foreign businesses.