Tinubu Plans Distribution of Cheap Fuel as Cost of Powering 7.5KVA Generator Increases to N1,000/Hour
- President Bola Tinubu has Nigerians can now have access to cheap fuel to cushion the effect of subsidy removal
- Mele Kyari, CEO of NNPC, said the company will make available compressed natural gas and liquefied natural gas
- The development follows a revelation by an energy firm in Nigeria that the cost of using a petrol-powered generator per hour has skyrocketed
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President Bola Tinubu has started putting structural measures in place to make cheap fuel available through compressed natural gas (CNG) and liquified natural gas (LPG) to stem the effects of the subsidy removal.
Mele Kyari, the Chief Executive Officer of the Nigerian National Petroleum Company Limited, revealed this after a meeting with Tunubu on Wednesday, June 14, 2023.
Source: Getty Images
Nigeria to roll out CNG and LNG gas for Nigerians
Kyari stated that the plans would roll out soon and that the structural plan was part of the palliative measures for Nigerians
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Channels Television said that Kyari revealed that there was already an ongoing rehabilitation exercise in Nigeria’s refinery, which would be unveiled soon.
The development comes as a Nigerian energy firm provides insights into how a gas-powered generator operates.
The company said it is feasible to power a 7.5kVA generator by connecting it to a 12.5kg gas cylinder using a conversion kit.
The cost of powering petrol generators skyrockets
The company revealed that a substantial cost and consumption rate difference is using a 12.5k gas cylinder and petrol to power a 7.5kVA generator, which can provide up to 15 hours of electricity at N500 per hour.
In contrast, a 7.5kVA petrol-powered generator can provide 14 hours of electricity at N1,050 per hour.
It shows that using gas as a fuel source for generators in Nigeria is more cost-effective by halving the cost of petrol per hour.
Petrol prices have skyrocketed since Nigeria suspended its petrol subsidy regime, with a litre of petrol selling for over N500 and as high as N7500 per litre in some places.
Naira's Fall: New petrol price likely as marketers' fuel cargoes arrive July, NNPC cuts imports
Legit.ng reported that on Wednesday, June 14, 2023, the Nigerian government confirmed that other marketers have joined in the import of petrol following the removal of the petrol subsidy.
The federal government revealed that about three mega oil marketers expect petrol cargoes in July, while others have asked for licences to import the product.
The development comes as the Nigerian National Petroleum Company Limited (NNPC), the product's sole importer, reduced petrol imports following the deregulation of the downstream sector.
Source: Legit.ng
