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ABSTRACT
This project presents a comparative analysis of Compressed Natural Gas (CNG) and Premium Motor Spirit (PMS) for transportation in Nigeria, focusing on the Benin-Lagos Expressway. The study investigates the economic viability of adopting CNG as a transportation fuel alternative and compares it to the traditional use of PMS. Methodologically, the estimation of Gasoline Gallon Equivalent (GGE) per day, the design of a pipeline network, determination of the required number of refueling stations, and a comprehensive cost and revenue analysis are conducted to assess the feasibility of CNG adoption. The results of the analysis reveal that CNG transportation on the Benin-Lagos Expressway demonstrates excellent economic viability compared to PMS. The economic indicators, including payout, Internal Rate of Return (IRR), Net Present Value (NPV), and profit per dollar invested, demonstrate favorable outcomes for the utilization of CNG. The case study highlights the potential economic benefits of transitioning to CNG for transportation, emphasizing its cost-effectiveness and profitability over traditional fuel options.
