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Olufola  Wusu's picture
Partner Head of Oil and Gas/Intellectual Property Practice, Megathos Law Practice

Olufola Wusu is a policy consultant, entrepreneur and attorney, who was part of the team that helped review the National Gas Policy 2016 for the Federal Ministry of Petroleum Resources in...

  • Member since 2020
  • 29 items added with 23,866 views
  • Dec 4, 2020
  • 1109 views

Snowballing Subsidy Payments about to Gas out?

Reuters reported that “Nigeria’s gasoline prices had been kept artificially low at 145 naira ($0.48) per litre. A study supported by the British government estimated Nigeria spent 10 trillion naira ($32.63 billion) on subsidies from 2006 to 2018, more than the individual budgets for health, education or defence.”

The use of CNG/LNG as a transport fuel is growing. However, to help encourage the rapid and widespread adoption of CNG/LNG as a fuel, there is a clear need to ensure stakeholder support for the deployment of CNG/LNG Leasing Companies and Filling Stations to support Natural Gas Vehicles deployment.

 

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