“We are told that this year the subsidy bill to the Federal Government may be between N5 trillion and N6 trillion. Clearly, Nigeria cannot afford this. To wean Nigeria off this subsidy, a lot of investment must be done to sensitise Nigerians in convincing them and finding alternatives.
Adeosun said, marketers were optimistic that the industry was headed in the right direction with the enactment of the Petroleum Industry Act 2021 which was an excellent piece of legislation. He said, however, the increase in gas prices worldwide and the unavailability of the product had made it a little more difficult in the roll out.
“It creates an aberration and additional challenge for the adoption of gas, as most people are still dependent on cheap PMS for their cars and generators.”