“Nigeria’s motorists can buy petrol at N1,000 per litre or equivalent gas per Standard Cubic Meter at N200..”
President Bola Ahmed Tinubu has disclosed that Nigerian motorists can now purchase petrol at N1,000 per litre.
However, he added that the equivalent of a litre of petrol—measured as one Standard Cubic Meter of Compressed Natural Gas, CNG—is available at N200.
Tinubu made this statement during a meeting with executives of the Nigerian Independent Petroleum Company, NIPCO, led by its director, Mr Ramesh Kasangra, at the State House in Abuja.
This was contained in a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, titled, “President Tinubu Meets NIPCO Executives, Commends Investments in the CNG Sector.”
“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 at no cost,” Tinubu said.
The President praised NIPCO’s efforts in supporting the Presidential Compressed Natural Gas Initiative, PCNGI, and advancing the energy transition through public-private collaboration.
He noted that NIPCO’s investments align with the administration’s strategy of ensuring energy security and economic diversification.
“The Switch to CNG campaign promoted by NIPCO has significantly increased public awareness and provided affordable CNG conversion kits even before the official launch of the PCNGI,” Tinubu added.
In January 2024, NIPCO announced an investment of over N100 billion in laying pipelines and building CNG stations nationwide to facilitate access to CNG from major trunk lines.
According to the President, the CNG initiative has reduced Nigeria’s dependence on petrol and cut fuel costs for consumers.
“CNG offers cleaner energy, reduces carbon emissions, and provides a more affordable alternative,” he remarked.
Tinubu reaffirmed his administration’s commitment to fostering private sector investments and expanding CNG infrastructure to enhance economic growth and energy efficiency.
Mr Ramesh Kasangra, NIPCO’s director, expressed appreciation to the President for his support and pledged the company’s continued partnership with the government.
He assured that NIPCO remains committed to expanding CNG infrastructure to make the fuel more accessible across Nigeria.
“NIPCO has been a major player in Nigeria’s energy sector for over 40 years, and we will continue to support the country’s energy transition in the long term,” Kasangra said.
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