Unless Nigerians switch to the use of Liquefied Petroleum Gas (LPG), the country will continue to lose about N2.914 trillion, spent annually on the use of firewood, kerosene and kerosene subsidy, according to data obtained by Sweetcrude.

International oil companies, IOCs operating in Nigeria have called on the Federal Government to intervene in the extension of the period within which deepwater acreage lease is due for renewal.

The continuous payment of subsidy on Premium Motor Spirit, PMS, also known as petrol to oil marketers in Nigeria has impeded the growth of Liquefied Petroleum Gas, LPG as auto fuel, the Group Managing Director, Banner Energy, Mr. Nuhu Yakubu, said.
Yakubu urged Nigerians to embrace LPG as a substitute to petrol because it is a cheaper and cleaner fuel than petrol or diesel.

Liquefied Petroleum gas (LPG),is a fossil fuel, like oil and natural gas. It can be refined from oil and natural gas the same way gasoline is refined from crude oil. While most energy companies are not focused on LP gases, they produce them nonetheless because they are a byproduct of the refining process for other fuels.

Effective deployment of security and safety gadgets in the monitoring of oil facilities across the country, will help the Federal Government save the $1 billion (N160 billion) it plans to spend on pipeline surveillance.