Vice President, Professor Yemi Osinbajo has stated that the Federal Government will focus on developing Compressed Natural Gas otherwise known as autogas, as a cheaper alternative to petrol.
In a statement issued on Saturday by Osinbajo’s spokesman, Laolu Akande, the Vice President disclosed this during a virtual interactive session hosted by the Africa Report magazine on Thursday.
The Vice President reportedly made this remark while answering questions about the removal of fuel subsidy, which has subsequently led to a hike in the price of petrol.
Professor Osinbajo stated that it was difficult to keep paying subsidies with the current state of the economy.
According to him, “what we have decided to do is to focus on Compressed Natural Gas (CNG) which is about half the price of petrol today. So, if we use CNG for our cars and for our buses, it will cost between N78 and N80 or so per liter.”