As a way of proffering solutions to continuous hike in petroleum pump price in the country, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has recommended to the federal government the use of Compressed Natural Gas (CNG) as alternative source to vehicles.
IPMAN National President, Elder Chinedu Okoronkwo gave the advice in Abuja while appearing before the House ad-hoc committee on pump price increase of petroleum.
Elder Okoronkwo while commending the federal government on the removal of subsidy in petroleum said even the palliative being asked for is temporary rather a permanent solution should be of concern.
He explained that countries relying on petroleum have sourced for alternative which is CNG and Nigeria can not be left behind stressing that it is cost efficient.
Buttressing his point at the hearing, a data analyst on gas, Brian Amonu called on the federal government to provide loans to commercial tricycle operators, civil servants and motorists in the country to enable them convert their vehicles to CNG.
Amonu said if the N250billion available in the Central Bank of Nigeria (CBN) today is used to loan these Nigerians it will enable Natural Gas to go round the country.
On his part, chairman of the House ad-hoc committee on pump price increase of petroleum, Hon. Babajimi Benson had expressed worries on the outcome of the masses on the recent increase of petroleum pump price.
Hon. Benson however applauded the recommendation by IPMAN but questioned how it can be achieved.
Members of the committee further expressed worries stating that the recommendation is for a long term but all they are asking for is how to cushion the current situation caused by the increase in petroleum pump price.
IPMAN to this end called on the federal government to pay them their equalisation fund noting that since the pronouncement of subsidy removal by President Tinubu the Nigeria National Petroleum Company has refused to pay them
