President Bola Tinubu has announced that Nigerian motorists can now choose to purchase fuel at N1,000 per litre or compressed natural gas (CNG) at N200 per Standard Cubic Meter.
This announcement was made during a meeting with executives from the Nigerian Independent Petroleum Company (NIPCO) at the State House in Abuja on Tuesday.
Tinubu praised NIPCO for its significant contributions to the country’s energy transition initiatives, particularly its support for the Presidential Compressed Natural Gas Initiative (PCNGI).
During the discussion, the President acknowledged NIPCO’s vital role in promoting the adoption of CNG as an alternative fuel. He emphasized that such investments are in line with his administration’s strategies for energy security and economic diversification.
He stressed the necessity of public-private partnerships in advancing the transition to cleaner and more affordable energy solutions for Nigerians. “CNG, being a cleaner and more affordable fuel, reduces the carbon footprint and saves consumers significant fuel costs,” he stated.
In his remarks, Tinubu said, “Nigerian motorists can buy petrol at N1,000 per litre or equivalent gas per Standard Cubic Meter at N200. We have also introduced incentives for commercial motorists to convert from petrol to gas free of cost,” as quoted by Bayo Onanuga, the Presidential spokesman.
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 promote economic growth.
Mr. Ramesh Kasangra, NIPCO director, who led the delegation, expressed gratitude to President Tinubu for his unwavering support of the CNG sector. He assured the President of NIPCO’s commitment to deepening its partnership with the government to ensure Nigeria’s energy transition stays on course.
Kasangra also stated that NIPCO is prepared to invest in infrastructure to make CNG more accessible across the country. He highlighted that NIPCO has been a significant contributor in various sectors in Nigeria for over four decades and is committed to supporting the nation in the long run.
