In response to the economic challenges brought about by the removal of fuel subsidies and the subsequent rise in petrol prices, the Executive Secretary of the Major Oil Marketers Association of Nigeria (MOMAN), Clement Isong, has suggested blending petrol with ethanol. He explained that the blending of ethanol with petrol could save Nigerians a significant amount on fuel expenses and potentially ease the financial burden on the populace.
The Nigerian government, under the leadership of Governor Bola Tinubu, decided to eliminate fuel subsidies earlier this year, a move that sparked widespread public outcry and plunged many citizens into financial distress. The increase in petrol prices led to higher transportation costs and inflationary pressures on essential goods and services.
Clement Isong, the Executive Secretary of MOMAN, has emerged as a prominent voice in addressing the ongoing fuel crisis. He highlighted the potential benefits of blending petrol with ethanol in a recent press conference, offering a ray of hope for Nigerians grappling with the financial strain brought about by the subsidy removal.
Isong, who is widely respected within the energy sector, noted that blending petrol with ethanol, a renewable biofuel, could significantly reduce the overall cost of fuel and bring relief to consumers. According to his calculations, the blending of petrol with ethanol could save Nigerians up to ₦49 per liter, a substantial figure considering the current economic hardships.