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Wednesday, May 12, 2021
NEWS

FG to grant marketers loan for LPG, CNG plants

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The Federal Government has outlined plans to grant some credit facilities to independent and major marketers for the installation of Liquefied Petroleum Gas (LPG) and Compressed Natural Gas (CNG) plants.

The government tabled the plans in a private meeting with the marketers and the Nigeria Governor’s Forum in Abuja.

A highly placed stakeholder in the meeting, who revealed this to The Nation Tuesday, said the plan is to mount the plants in existing petrol retail outlets and also build Greenfield plants.

The measure, she said, has become plausible as the government plans a complete removal of petrol subsidy.

She noted that: “We have held a meeting with the Governor’s Forum on how to alleviate the pains arising from petrol scarcity. One of the solutions that the governor’s and Federal Government have planned is to give us (marketers) loans to build LPG and CNG plants in our filling stations. Even those that want to build the plants on new outlets will get the facility. We are just the preliminary stage of the discussion).”

According to the source, who pleaded anonymity, the plan is to provide alternative (gas) for fueling vehicles and generators instead of the heavy dependence on the Premium Motor Spirit (PMS).

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