The federal government has eased access to funds concern of operators interested in the petrol -to-gas conversion scheme
It advised interested parties to explore the CBN’s ₦250 billion provision, while encouraging them to embrace the autogas scheme, an exercise that will afford Nigerians cheaper fuel to replace petrol.
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The Director of the Department of Petroleum Resources (DPR), Mr. Sarki Auwalu, in an interview in Abuja, stated that any Nigerian seeking to invest in the downstream sector may seek the support of the CBN through commercial banks.
He also addressed the issue of safety of the newly-introduced Compressed Natural Gas (CNG) scheme, saying the federal government is doing everything to ensure that the fuel will have the least or minimum capacity for the destructive explosion.
The CBN in September introduced a ₦250 billion stimulus package under a National Gas Expansion Programme (NGEP) to generate investment in the gas value chain and spur its use in transportation as an alternative to petrol-powered cars.
