ONIFTV made the findings on the sideline of the BusinessDay/Major Oil Marketers Association of Nigeria Policy Intervention Series on Alternative Fuel in Lagos.
According to the marketers, ethanol blending in petrol was an avenue for significant savings both on the part of the Federal Government and consumers.
The Executive Secretary, MOMAN, Clement Isong told our correspondent at the workshop that, “We all know that everyone is currently complaining of the high price of petrol, however, blending ethanol with petrol is one of the ways to bring down prices by up to N49 per litre. This practice can also support local farming and agro-processing industries, particularly using abundant resources like cassava.”
Ethanol is a volatile, inflammable, clear liquid with a distinctive odour and the chemical formula C2H5OH. It is the main type of alcohol drinks, but ethanol in its pure form is not fit for human consumption. Most fuel contains ethanol, commonly 10 per cent. This helps both supply oxygen to the fuel and reduce emissions. Ethanol also increases the octane number in fuel, and this helps to keep cars healthy.