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By Emmanuel Addeh
The N250 billion gas expansion fund set aside by the Central Bank of Nigeria (CBN) to ramp up the production and consumption of of Liquefied Petroleum Gas (LPG) is capable of markedly improving the overall industry output, some industry watchers have said.
In the interim, the fund is expected to push consumption in the country to five million metric tonnes (mmt) by the end of next year and reduce the use of high carbon fuels like firewood.
The apex bank introduced the stimulus package under the National Gas Expansion Programme (NGEP) last year to attract investment in the gas value chain and spur its use in transportation as an alternative to fuel-powered cars.