Breaking: FG to Implement Ethanol Blend Solution to Cut Petrol Prices to N49 Per Litre

Latest Update: FG’s Innovative Ethanol Blend Solution to Cut Petrol Prices to N49 Per Litre.

The price could drop by as much as N49 per litre – a boon for the government’s purse and a likely end to the pesky fuel price roller-coaster for consumers nationwide. Buckle up, because it seems we’re in for a smooth ride.

The secret sauce? Mixing ethanol with plain old petrol, or as the cool kids (and by that, we mean oil marketers) call it, Premium Motor Spirit (PMS). This brilliant idea is their weapon of choice against the annoying scarcity of petrol and those ever familiar long lines at fillings stations that have been popping up again. So, fuel up on the details and enjoy the (potentially cheaper) ride.

 on your lucky, or not-so-lucky, location, you’re looking at shelling out between N580 and N617 per litre. But wait – oil marketers warn we might be in for an even wilder ride to N800 per litre, all thanks to those pesky rising landing costs.

Just when you thought things couldn’t get more complicated, enter the humble ethanol. The idea to mix this into gasoline – the brainchild of the BusinessDay/Major Oil Marketers Association of Nigeria Policy Intervention Series on Alternative Fuel – could be a magic bullet for the rising fuel prices. If we can believe Clement Isong, the big boss at the Major Oil Marketers Association of Nigeria (MOMAN), ethanol isn’t just the answer to our prayers for lower petrol prices, we’re talking as low as N49 per litre. It also gives a leg up to local farming and agro-processing industries. Who knew cassava could be a game-changer?

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Nigerians could refill their tanks at around N568 per litre. Amid rising inflation, and everyday costs giving Nigerians the sweats, this price drop is like a breath of fresh air.

The NNPC has attracted quite a bit of attention recently, for its innovative little scheme involving ethanol. It seems ethanol could be a game-changer, trading off with petrol in car engines. And it’s not just about the economic perks – it also gives a big fat thumbs down to air pollution. Talk about killing two birds with one stone! 

And these ethanol blending ratios? Super adaptable. From an all-out burst of pure ethanol, all the way to mixing it with anhydrous ethanol – that’s ethanol that’s said goodbye to H2O. So, it’s not just about burning less petroleum fuel – it’s a green, clean, money-saving machines..

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In related news, the Nigerian National Petroleum Company (NNPC) clarified the presence of fuel queues in various areas, including Lagos, Abuja, and several other regions across the country. NNPC attributed the queues to a temporary reduction in Depot loadout in Apapa, Lagos, spanning a few days, and reassured motorists that distribution would return to its regular pace in the coming days.

This innovative approach to reduce petrol prices through ethanol blending presents a promising path to alleviate the financial burden on Nigerian consumers while also promoting sustainability in the energy sector.