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HomePetroleumMarketers of LPG, CNG plants, to receive loans from Federal Government

Marketers of LPG, CNG plants, to receive loans from Federal Government

During a private meeting with marketers and the Nigeria Governors’ Forum, the Federal Government disclosed 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.

According to an anonymous, but notable stakeholder in the meeting, who revealed this information to The Nation Newspaper on Tuesday (30th of March), the plan is to mount the plants in existing petrol retail outlets and also build Greenfield plants.

The source went on to state that the measure has become plausible as the government plans a complete removal of petrol subsidy.

She said, “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).”

She also revealed that 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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