The Federal Government’s CNG initiative will help address the ongoing high cost of food, according to the Federal Competition and Consumer Protection Commission (FCCPC).
Acting Executive Vice Chairman of FCCPC, Dr. Adamu Abdullahi, made this statement during a one-day webinar with Non-Governmental Organisations (NGOs) and Consumer Protection Groups (CPGs) in Abuja on Thursday.
Abdullahi explained that using CNG vehicles would reduce transportation costs by cutting down expenses on Premium Motor Spirit (PMS) for moving food items.
He also mentioned that the commission is working with market associations to combat cartels and prevent price gouging in the markets.
”This CNG initiative and the vehicles provided by the government will help reduce food prices in the markets,” he said.
Abdullahi clarified that while the commission does not control or set prices, it will work with relevant stakeholders to ensure competition and fairness in the marketplace.
The News Agency of Nigeria (NAN) reports that the CNG initiative aims to lessen the reliance on Premium Motor Spirit and diesel in the country.
NAN also reports that following the removal of the fuel subsidy, the Federal Government allocated N100 billion to purchase 5,500 CNG vehicles (buses and tricycles), 100 electric buses, and over 20,000 CNG conversion kits, as well as to develop CNG refilling stations and electric charging stations. (NAN)
