In a bid to address the persistent scarcity of petroleum products in Nigeria, the Federal Government has announced plans to enforce the establishment of Compressed Natural Gas (CNG) points in filling stations across the country. This decision came to light during a meeting between key oil marketing companies and the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, held on Tuesday in Abuja.
According to Ahmed, oil marketers seeking retail licenses will now be required to incorporate a CNG point in their filling stations before obtaining final government approval. This initiative aims to enhance consumer accessibility to alternative fuel sources and reduce dependence on traditional petroleum products.
Highlighting the significance of the CNG initiative, Ahmed stressed that President Bola Tinubu has directed that all government vehicles purchased henceforth must be CNG-powered. Consequently, he urged major marketers to expedite the process of incorporating CNG facilities into their gas stations.
The government’s directive signifies a pivotal shift towards embracing cleaner and more sustainable energy solutions, aligning with global efforts to mitigate environmental degradation and combat climate change. It also reflects a proactive approach towards diversifying the country’s energy mix and reducing reliance on fossil fuels.
Under the new regulations, new applications for retail licenses will no longer be approved without the inclusion of CNG points, signaling a paradigm shift in the nation’s energy landscape. This move is poised to revolutionize the transportation sector and pave the way for a more environmentally friendly and economically viable future.
As Nigeria embarks on this transformative journey towards cleaner energy alternatives, stakeholders anticipate a positive impact on both the economy and the environment, heralding a new era of sustainable development and energy security.
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