Middle-East Crisis: PETROAN urges investment of windfall in CNG expansion

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) says proceeds from the current gains in the oil sector, could serve as a local funding source for investments in gas infrastructure across the country.Dr Billy Gillis-Harry, National President, PETROAN, in an interview with the News Agency of Nigeria (NAN) on Sunday, said anticipated oil windfall should be channeled into expanding Compressed Natural Gas (CNG) infrastructure and supporting Nigeria’s gasification drive.NAN reports that the United States and its ally, Israel are leading a war against Iran over nuclear capabilities, thereby causing tension and crude oil price surge in the international oil market.“This aligns with my view that excess oil revenue above the budget benchmark should be invested in infrastructure and energy value chains rather than spent immediately.”Gillis-Harry, while reacting to the implications of the middle east crisis and expected oil boom for Nigeria, expressed support for the Federal Government’s push to expand CNG use as a cheaper alternative fuel for transportation.He described the ongoing gas revolution initiative as a strategic step towards providing relief for commuters facing rising transportation costs.He commended President Bola Tinubu for approving funding for the distribution of 100,000 CNG conversion kits to accelerate the adoption of gas-powered vehicles across the country.“The initiative will help reduce dependence on petrol and lower transportation costs for Nigerians.“What we should be talking about now is how to provide relief for commuters.“The gas revolution being promoted by the government is a step in the right direction,” he said.He explained that such investments could enable petroleum marketers to establish more CNG daughter stations and ensure the availability of mother stations needed to supply gas for distribution.Gillis-Harry said PETROAN was well positioned to support the nationwide gasification drive, noting that its members operate over 8,000 filling stations across Nigeria.According to him, many of the stations are located in the Southern and North-Central parts of the country, providing an existing network that could accelerate the deployment of CNG infrastructure.He added that the association would soon engage with the Presidential Compressed Natural Gas Initiative and Electric Vehicles (P-CNGI & EVs), to explore areas of collaboration to ensure the success of the government’s gas expansion programme.“We are going to pay a courtesy visit to the P-CNGI board to discuss how PETROAN can contribute its quota to ensure that the gasification process succeeds,” he said.He emphasised that strengthening CNG infrastructure across the country would not only reduce fuel costs, but also improve energy security and promote cleaner transportation.