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Subsidy removal: CNG best palliative at N100/litre, say marketers

Published

11 months ago

June 14, 2023

Subsidy removal: CNG best palliative at N100/litre, say marketers

90% ready to roll out

Oil marketers say they are about 90 per cent ready to roll out Compressed Natural Gas (CNG) as an alternative to high-priced petrol and diesel in Nigeria.

They also said the CNG initiative to power vehicles, generators and for cooking is the best palliative the Federal Government could possibly provide after its removal of fuel subsidy.

They spoke through the National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Okoronkwo.

Okoronkwo said this on Channels Television’s Business Morning programme Monday.
He said the CNG would help bring down the cost of energy in the country.
“Very soon, we will roll out. We are 90 per cent close to that, and that will also unveil many possibilities,” he said.
“IPMAN has brought relief to a lot of families. We have got the usage of our natural energy, CNG, to power vehicles, generators, and even cooking,” the IPMAN president said.
The CNG is expected to reduce, to a large extent, the country’s exposure to fuel importation as natural gas would not be imported.
Okoronkwo noted that CNG-powered cars had started gaining momentum in the country because of increased awareness about its efficiency and affordability, compared to traditional fuels like diesel and petrol.
“If the government buys into what we are saying, it will act as an assistance, bring relief, and create job opportunities.
“What we need the government to do is create the market. The demand is there,” the IPMAN president said.
He added that IPMAN had received a lot of buy-in from companies overseas.
On what the CNG brings to the value-chain, he said, “I don’t know if you have seen what is trending this week where people with their I-pass-my- neighbour generators are beginning to use liquified petroleum gas. LPG is close to N700 per kilogramme, but this natural gas we are talking about is under N100 to N110.
“When you check what the impact will be, it will reduce the cost of food because people coming from the hinterlands bring food to the cities. From Kano, it takes them about N1.2 million to fuel trucks with diesel, but with this CNG, it will cost them about N150,000 to N200,000. About a million naira is saved that will translate to cheaper food and open up a lot of other businesses.
“It will provide cheaper energy to drive the processing zones like the agro-based industries, where the gas will also create a lot of impact.
“The CNG does not replace the PMS, but it is a choice. We are talking of something that will help your purse and not deepen it.”
The director of Gas Analytics and Solutions Limited, Shuaibu Bello, who also spoke at the Channels Television programme, said the CNG would be a game-changer for Nigerians.
“This is the best palliative you can give the nation. If you talk of palliative, it is not just sharing money with people, it is creating a system that will reach the rich and the poor.
“If you compare the CNG price at N110 per litre with petrol now at N540 or its former price of N185, still you will have a reduction,” he said.
IPMAN had in April 2023 wrote to the Finance ministry to request that the Central Bank of Nigeria (CBN) be mandated to release N250 billion intervention fund for the implementation of the National Gas Expansion Programme (NGEP).
IPMAN explained it asked for the funds to provide access to the Gas Expansion Fund for vehicle, commercial tricycle and truck owners to access loans to finance the acquisition of natural gas conversion kits.
IPMAN said that it had partnered Gas Analytics & Solutions Limited to co-locate natural gas dispensers on their network of over 30,000 filling stations in Nigeria.
According to IPMAN, it controls over 80 per cent of the downstream oil sector, and as such, the collocation model would help to reduce the exposure in building new filling stations.
Also, the manager Corporate Communications at NipCo, Biodun Lawal, speaking on the company’s desire to depeen investment in the gas sector, said the savings accruing from subsidy removal would offer more opportunities to fund the enormous gas infrastructure deficit in the nation.
“We are still investing more infrastructure with a proviso that clientele will improve sporadically
Some of the challenges in harnessing the abundant gas resources in the country includes – paucity of pipelines to transport gas across the country ,cost of conversion to use gas as auto fuel , access to gas through stations .
“With all modesty NIPCO gas Limited is the only company with over 12 CNG get to get gas for motorist” he said.
Lawal said motorists can now see the benefits in running their vehicles on gas rather than fossil fuels.
According to him, the CNG as a preferred alternative to petrol is good for gas companies as the nation at large as or offered veritable opportunity of creating more employment opportunities ,better value creation in the Industry ,better utilisation of the endowed gas resources of the country .
He said the benefits are enormous for motorists in terms of savings and lifespan of such automobiles and that the conversion cost should not be a drawback with support from the government especially with fiscal policies to encourage investors to go into kits manufacturing and ancillary items such as cylinders.
“In the interim policies can be put in place for exemption from levies of imported accessories pending when the environment will be made more conducive for its manufacturing in Nigeria CNG business has a good horizon in the country with the challenges tacked headlong

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19 passengers burnt to death in Okene Bypass accident, FRSC blames traffic violation

Published

2 days ago

April 28, 2024

Trends Admin

FRSC blames traffic violation as 19 passengers burnt to death in Okene Bypass accident

A total of 19 people were burnt to death in a tanker-bus collision on Sunday April 28 on Okene-Lokoja highway in Kogi State.

The collision that specifically occurred on Okene Bypass reportedly led to an explosion, trapping a total of 22 passengers in the inferno.

The Federal Road Safety Corps (FRSC) in a statement which gave these details said the crash was largely caused by traffic rules violation.

It added that its emergency rescue team deployed in the area battled the situation for three hours.

Part of statement read, “The crash investigation report revealed that the crash involved two vehicles comprising a Dangote truck bearing the following registration details NSH680YJ, and a Toyota Hiace Bus with registration number KMC455ZE.

“The Toyota Hiace bus loaded from Kano was on its lane on the highway when the Dangote truck driver who drove all the way from Port Harcourt wrongfully overtook a vehicle and collided head-on with the bus.

“The impact of the collision resulted in a fire inferno that burnt the victims to death.

According to the report, the crash which was caused by route violation ‘One-way’ and wrongful overtaking, involved 22 people all male.

“Unfortunately, 19 people out of the 22 victims were killed and one injured.

“The remaining two victims who got rescued by the FRSC operatives without injuries survived the crash because they complied with traffic regulations on compulsory use of seatbelt.

“The corpses of the dead victims have been deposited at Okene General Hospital.

The statement signed by the FRSC spokesman, Jonas Agwu, an Assistant Corps Marshal, recalled that the Corps Marshal of the commission, Dauda Biu, at a press conference last week Thursday “warned against traffic violations citing instances where they resulted in avoidable crashes with fire outbreak, leading to wanton loss of precious lives and destruction to properties.

“As a result of that he had earlier emphasised on the need for maximum penalty for these drivers.

Dauda Biu reaffirmed the resolution of the Corps to continue its ongoing prosecution of drivers who by their actions cause road traffic crashes in Nigeria, noting that the driver of the truck involved in the Okene crash will not be an exception.

“As such, he called on the judiciary, leadership of transport unions and other relevant stakeholders in the road transportation sector to join hands with the Corps towards restoring sanity through speedy and effective prosecution.”

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Chery celebrates automobile excellence, creativity at Lagos roadshow

Published

3 days ago

April 27, 2024

Trends Admin

Chery celebrates automobile excellence, creativity at Lagos roadshow

Chery Nigeria on Friday held many Lagos fans of elegant new vehicles spellbound during its spectacular roadshow.

The event featured a captivating procession from the Carloha showroom to The Palms in VI passing through scenic routes such as the Third Mainland Bridge, Ikoyi and Victoria Island, ending with a celebration at the iconic shopping mall.

The roadshow not only showcased Chery’s exceptional vehicles but also celebrated the spirit of creativity and community.

The event provided a platform for guests to savour and enjoy the unique display of new work of art and automotive excellence.

The roadshow extravaganza, as the organisers called it, was revealed Chery’s commitment to engaging experiences, showcasing the brand’s latest masterpiece, the Tiggo 8 Pro,Tiggo 4 Pro and Arrizo 5, in an unforgettable way.
The highlight of the event was a unique “Sip and Paint” session led by a notable artist, who skilfully captured the essence of the Tiggo 8 Pro on canvas.

Guests were invited to unleash their creativity as they painted their own interpretations of the iconic Chery logo, adding personal touch.
The climax of the evening came with a breathtaking moment as Eben, renowned for his impressionistic prowess, unveiled his masterpiece – a stunning portrayal of the Chery Tiggo 8 Pro.
The artwork, met with awe and admiration from attendees, encapsulated the essence of Chery’s dedication to innovation, style, and sophistication.
Representative of Chery brand in Nigeria, Carloha, says it will continue to provide automotive solutions to customers with its six-year free service and six-year warranty or 200,000km, whichever comes first.

Meanwhile, Chery has expressed its gratitude to all attendees, partners and supporters who contributed to the success of this extraordinary event.
“As the brand continues its journey of innovation and inspiration, it remains dedicated to delivering exceptional experiences that captivate hearts and minds,” the firm said in a statement on Saturday.

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Excitement as Chery celebrates innovations through roadshow at The Palms

Published

5 days ago

April 25, 2024

Trends Admin

Excitement as Chery celebrates innovations through roadshow at The Palms

Excitement is in the air for all new car fans as the much-anticipated Lagos Chery Road Show holds tomorrow (Friday) April 26, 2014.

Carloha, a renowned automobile dealer of Chery vehicles in Nigeria, announced this in a statement, saying it will be an unparalleled automotive all the way from the auto firm to The Palms, the venue of the main event.

It also the event would offer an unforgettable journey of celebrating innovation, style, and the thrill of the open road.

Part of the statement read, “The Chery Road Show promises to be an electrifying extravaganza, offering attendees a thrilling journey through the heart of Lagos, celebrating innovation, style, and the spirit of adventure.

“Kicking off from the Carloha Showroom in Alapere, Lagos, the procession will wind its way through Anthony Village, Maryland, and the vibrant Sheraton Hotel axis, before making its grand entrance into the bustling streets of Opebi-Allen, and divert to Ikoyi, Victoria Island.

“The convoy will culminate at the The Palms, where the main event will take place.”

Giving highlights of roadshow, it says, “The sip and paint session promises to be a delightful fusion of creativity and relaxation.

“Set against the dynamic backdrop of Carloha Parking Lot at the Palms, participants will unleash their inner artists while watching with keen expectation on the artiste while creating masterpieces that capture the essence of the Chery brand.”

The firm also promised to provide the latest offerings from Chery with interactive displays showcasing the brand’s cutting-edge technology, superior craftsmanship, and commitment to excellence.

The Chery impressive lineup of vehicles at the venue, it added, would show why the brand had continued to redefine the automotive landscape.

“Immerse yourself in the festive atmosphere as you mingle with fellow enthusiasts and soak in the excitement of this one-of-a-kind event.

“Take advantage of exclusive offers and promotions available only at the Chery Road Show.

“Whether you’re in the market for a new vehicle or simply seeking to elevate your driving experience, don’t miss this opportunity to explore unbeatable deals and incentives,” it stated.

The statement reminded that Carloha Nigeria offers six-year free service, and six-years warranty or 200,000 kilometres, whichever comes first.

It also stated that the admission to the Chery Road Show was made free to give a lot of people the rare opportunity to experience the ultimate automotive extravaganza.