President Bola Tinubu announced that Nigerian motorists now have the option to purchase petrol at N1,000 per litre or compressed natural gas (CNG) at N200 per Standard Cubic Meter. This announcement came during a meeting with executives from the Nigerian Independent Petroleum Company (NIPCO) at the State House in Abuja on Tuesday.
The President praised NIPCO’s contributions to the nation’s energy transition, particularly its role in supporting the Presidential Compressed Natural Gas Initiative (PCNGI). He emphasized the importance of NIPCO in promoting CNG as a viable alternative fuel, aligning with his administration’s goals of enhancing energy security and diversifying the economy.
Tinubu highlighted the crucial role of public-private partnerships in advancing cleaner and more affordable energy solutions for Nigerians. He commended NIPCO for its proactive “Switch to CNG” campaign, which has successfully raised public awareness and provided affordable CNG conversion kits ahead of the official launch of the Presidential CNG Initiative.
This initiative aims to decrease Nigeria’s dependence on petrol and lower fuel costs for consumers. CNG, being cleaner and more cost-effective, not only reduces the carbon footprint but also saves motorists significant amounts on fuel expenses.
“Nigerians can now choose between petrol at N1,000 per litre or gas at N200 per Standard Cubic Meter. We are also offering incentives for commercial motorists to switch from petrol to gas at no cost,” Bayo Onanuga, the Presidential spokesman, quoted Tinubu as saying.
The President reiterated his administration’s commitment to fostering a conducive environment for private sector investments and expanding Nigeria’s CNG infrastructure to enhance energy efficiency and stimulate economic growth. He encouraged NIPCO to continue its innovative efforts in expanding CNG availability while supporting the government’s broader energy objectives.
Mr. Ramesh Kasangra, NIPCO’s director, expressed gratitude to President Tinubu for his unwavering support of the CNG sector. He assured the President of NIPCO’s commitment to further collaboration with the government to ensure Nigeria’s energy transition remains on course, emphasizing their readiness to invest in infrastructure for greater CNG accessibility across the nation.
