Subsidy removal: IPMAN moves for alternative energy source

The Independent Petroleum Manufacturers Association of Nigeria (IPMAN) has endorsed the use of Compressed Natural Gas (CNG) as an alternative energy source to cushion the effect of subsidy removal.

IPMAN National President, Elder Chinedu Okorokwo, made this known in an interview with NAN, Abuja, on Wednesday.

NAN reports that President Bola Tinubu had on May 29 in his inaugural speech said subsidy on Premium Motor Spirit (PMS), known as petrol, had ended with the commencement of his administration.

In view of the high increase in fuel pump price, transportation and food stuff among others due to the subsidy removal, the Federal Government entered into deliberations with the Nigeria Labour Congress and Trade Union Congress.

The meeting agreed on the adoption of CNG as an alternative fuel which it said would bring a better and long lasting solution to the constant fluctuation in the price of petrol in the global market.

The meeting also agreed to revive the CNG conversion programme earlier agreed with Labour centres in 2021 and work out detailed implementation and timing.

CNG, which is a gas mainly composed of methane and produces less emission, is the cleanest burning fuel operating today with less vehicle maintenance and longer engine life.

Okoronkwo, who had supported the removal of subsidy and usage of CNG said bringing CNG which was cheaper than even firewood as an alternative energy would create relief for the government and its citizens.

He said removal of subsidy was necessary because of the preferential for dollar which was so hard, adding that there was no crude refining in Nigeria.