shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » FG Targets 2,000 CNG Filling Stations In 6 Months — Rainoil Boss

FG Targets 2,000 CNG Filling Stations In 6 Months — Rainoil Boss

by Joshua
March 29, 2021
in Oil and Gas

The Group Managing Director, Rainoil Ltd., Mr Gabriel Ogbechie, says the Federal Government is targeting the establishment of 2,000 Compressed Natural Gas (CNG) filling stations in the next six months.

Ogbechie said the move was aimed at providing a cheaper and cleaner alternative for vehicle users as the country moves toward the full deregulation of the downstream petroleum sector.

He spoke on Thursday during a webinar on ”Deregulation and Sustainable National Energy Future through Natural Gas.”

The webinar was organised by the National Association of Energy Correspondents (NAEC).

Ogbechie said a high delegation of government functionaries recently met with oil marketers to encourage investments on the autogas scheme.

According to him, a N200 billion infrastructure fund has been set up by the Central Bank of Nigeria (CBN) to support autogas facility roll-out by marketers.

He said: “Nigeria requires about $6 billion worth of investment. Marketers can leverage on this opportunity by investing in gas adoption and utilisation.

”Investment can be made in areas such as Liquefied Petroleum Gas (LPG) bulk storage, LPG trucks, LPG filling plants, LPG skids and Gas cylinder manufacturing, Liquefied Natural Gas (LNG) plants.”

The Rainoil boss maintained that the government could not continue to subsidise Premium Motor Spirit, noting that N10.413 trillion was spent on fuel subsidy between 2006 and 2019.

He said the huge funds could be channeled to other critical sectors of the economy such as health care, education and infrastructure development.

Ogbechie expressed optimism that the passage of the Petroleum Industry Bill (PIB) would bring about the deregulation of the downstream sector by law and not by government policy.

“A fully liberalised sector will enable marketers to freely source products and leverage supply chain options. It will create a level playing field and increased competition will improve efficiency and customer-service.

“It will allow for better planning and forecasting by marketers as well as attract more Foreign Direct Investment,” he said.


Tags: FGRAINOIL

Related Posts

Nigeria’s Daily Crude Oil Production Drops To 937,766 bpd In September

Nigeria’s Crude Oil Export Revenue Drops by 17% to $6.68 Billion in First Two Months of 2025

June 1, 2025
President Tinubu Signs 6 IMO Instruments Of Accession

FG Rallies Stakeholders to Accelerate Nigeria’s Gas Revolution, Signs Agreement with Ten Equity Partners

June 1, 2025
The Return of Standards Organisation of Nigeria to the ports

SON Raises Concern Over Influx Of Adulterated Lubricants, Engine Oil

June 1, 2025
Tensions Rise as Bayelsa Host Communities Threaten Shutdown Over Security Contracts

Tensions Rise as Bayelsa Host Communities Threaten Shutdown Over Security Contracts

June 1, 2025

Discussion about this post

Latest News

NPA Bags NASS PAC Transparency Award

NPA Bags NASS PAC Transparency Award

July 12, 2025

Nigeria Customs Says Claim Of Form ‘M’ Migration Charges False

CRFFN Showcases Reform Milestones, Dismisses Court Ruling Misinterpretation

NCMDLCA Faction Distances Self from Amiwero’s Court Action, Backs CRFFN on POF Collection

Customs Intercepts ₦9.2bn Worth of Fake Bedroom Booster, Others

Customs, NAFDAC Inaugurate Implementation Committee for 2024 MoU

Nigeria Customs Intercepts Container with Over 10,000 Donkey Genitals

Senate Hails Adeniyi’s Election as WCO Council Chair, Says It’s  a Major Win for Nigeria’s Global Trade Leadership

Oyetola Launches Door-to-Door’ Diplomacy for Nigeria’s IMO Council Bid

FG Urged To Link Warri-Itakpe Rail To Inland Ports, Road Networks

Red Sea Operation Rescues 4 More From Cargo Ship Sunk By Houthis

Shippers’ Council Set to Establish Border Information Centre at Idiroko, Bolster Trade Efficiency

kindly like our Facebook page

Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert
Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert

June 30, 2025

Mrs Roseline Akinlabi, Adolescent and Youth Sexual Reproductive Health Desk Officer, Osun Primary Healthcare Board, says contraceptive pills cannot cause...

ONIONS: The Good Old Healing Vegetable

KNOW YOUR BODY PARTS: The Liver

June 16, 2025
ONIONS: The Good Old Healing Vegetable

ONIONS: The Good Old Healing Vegetable

June 16, 2025
Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025
20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025
See Mental Illness Like Other Treatable Diseases – Says Suicide Survivor

Health Facts You Didn’t Know

May 19, 2025
Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

April 28, 2025
Water And Health: The Relationship That Helps Life

Water And Health: The Relationship That Helps Life

April 28, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition