President Bola Ahmed Tinubu has given Nigerians the choice of buying a litre of petrol for N1, 000 per or paying N200 for a cubic meter of compressed natural gas (CNG).
The spokesman for the president on information and strategy, Mr Bayo Onanuga, said Tinubu made the offer during at the state house, Abuja during a meeting with the executives of the Nigerian Independent Petroleum Company (NIPCO), led by its director, Mr. Ramesh Kasangra.
He highlighted the significance of the CNG initiative in reducing the nation’s reliance on petrol and cutting down fuel costs for consumers.
He said the CNG being a cleaner and more affordable fuel reduces the carbon footprint and saves consumers significant fuel costs.
“Nigeria’s 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.
“This move is part of the Presidential Compressed Natural Gas Initiative (PCNGI), which is aimed at reducing the country’s reliance on petrol while promoting the use of CNG as an alternative fuel source.
Tinubu praised NIPCO’s role in supporting the initiative, noting that the company’s investments align with his administration’s energy diversification strategy.
“NIPCO’s efforts in promoting and supporting the ‘Switch to CNG’ campaign’ have been instrumental in boosting public awareness and providing affordable CNG conversion kits.
“This partnership helps us reduce fuel costs for consumers and our carbon footprint,” Tinubu said.
The president reaffirmed his administration’s commitment to providing a conducive environment for private sector investments and expanding Nigeria’s CNG infrastructure to enhance energy efficiency and economic growth.
He further encouraged NIPCO to continue its innovative approach to CNG expansion while supporting the government’s broader goals in the energy sector.
“Our administration is focused on expanding Nigeria’s CNG infrastructure to enhance energy efficiency and stimulate economic growth,” he added.
He also highlighted the long-term benefits of cleaner and more affordable energy solutions and encouraged NIPCO to continue its innovative approach to CNG expansion while supporting the government’s broader goals in the energy sector.
In his remarks, Kasangra expressed his gratitude for the government’s support of the CNG sector.
He reaffirmed NIPCO’s commitment to working closely with the government to expand the CNG infrastructure, ensuring that CNG becomes a viable and accessible alternative for Nigerians nationwide.
He said the company believes in Nigeria’s long-term potential, adding that NIPCO had already invested over N100 billion in laying pipelines for easy access to CNG and building CNG stations across the country.
