The Edo State Government said it has set up a firm, the Edo Green Energy Ltd to be run as a private sector-facing entity which will engage in the sale of gas in the state.
The Commissioner of Mining and Energy in the state, Enaholo Ojiefoh, disclosed this on Monday while speaking with reporters in Benin.
The extract of the media briefing was forwarded on Monday to PREMIUM TIMES by the office of the Special Assistant, Media Projects, Edo State Government.
The commissioner for mining, Mr Ojiefoh said Edo Green Energy Ltd will lead in the extraction, processing, storage and sale of gas in Edo.
According to him, “The Company will sell gas as Liquefied Natural Gas or we convert and sell it as Compressed Natural Gas (CNG). Already we have a group of investors.
“Our plan is to convert 60% of vehicles in Edo to run on CNG.
“The idea is to significantly reduce the cost of transportation in the state. NIPCO is already working on this. But the new company is coming to work with existing filling stations to do conversions. This will be done by working with an existing Independent Petroleum Marketing Association of Nigeria team. They already have fuel stations across the State.
“We will then have CNG stations across the senatorial districts of the state. We are not stopping at vehicles; we want to ensure that we convert all commercial tricycles operating in the state. Instead of buying fuel for N20,000, you will have to buy N5,000 worth of fuel.”
The commissioner said the CNG innovation runs on an automated system, which ensures that once the fuel is finished, it automatically switches to gas.
“We also want to ensure that we also convert generators to CNG. We want everyone in Edo to use clean energy,” added.
READ ALSO: NDLEA impounds 44,948kg of hard drugs in Lagos, Ondo, Edo states
The price of petrol has continued to increase in Nigeria after the removal of petroleum subsidy by President Bola Tinubu’s administration, forcing prices of goods and services in the country to rise astronomically.
The situation has led to severe economic hardship among the people, with the federal and state governments struggling to address the hardship through palliatives and other means.
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