Oil marketers have suggested that blending ethanol with Premium Motor Spirit (PMS) could potentially reduce the price of petrol by as much as N49 per litre, particularly in light of ongoing fuel scarcity in some parts of Nigeria.
This revelation was made during the BusinessDay/Major Oil Marketers Association of Nigeria Policy Intervention Series on Alternative Fuel in Lagos.
According to the marketers, ethanol blending in petrol offers a significant opportunity for cost savings, benefiting both the Federal Government and consumers.
Clement Isong, the Executive Secretary of MOMAN (Major Oil Marketers Association of Nigeria), explained that blending ethanol with petrol could help bring down prices significantly.
This practice could also support local farming and agro-processing industries, particularly by utilizing abundant resources like cassava.
Ethanol is a volatile, flammable, clear liquid with a distinctive odor, represented by the chemical formula C2H5OH.
While it is commonly associated with alcoholic drinks, pure ethanol is not suitable for human consumption.
However, it is often added to fuel, typically at a concentration of around 10 percent.
This serves to provide oxygen to the fuel, reduce emissions, and increase the octane number in fuel, which is beneficial for vehicle performance and environmental impact.