As many Nigerians continue to face economic challenges, President Bola Tinubu has announced that citizens can now choose to purchase petrol (premium motor spirit or PMS) for N1,000 per litre or compressed natural gas (CNG) at N200 per standard cubic meter.
During a meeting with the Nigerian Independent Petroleum Company (NIPCO) at the State House in Abuja on Tuesday, October 22, Tinubu praised NIPCO for its contributions to the nation’s energy transition, particularly its backing of the presidential compressed natural gas initiative (PCNGI). He noted that using CNG can significantly reduce costs for consumers.
The presidential media aide, Bayo Onanuga, conveyed that President Tinubu recognized NIPCO as a key player in promoting the adoption of CNG as an alternative fuel, emphasizing that such investments align with his administration’s goals for energy security and economic diversification.
The President highlighted the critical role of public-private partnerships in advancing cleaner, more affordable energy options for Nigerians. He commended NIPCO for its efforts in raising awareness and providing accessible CNG conversion kits, which have been pivotal ahead of the official launch of the Presidential CNG Initiative.
Tinubu pointed out that this initiative will help lessen the country’s dependence on petrol and lower fuel expenses for consumers. He reiterated that CNG is a cleaner, more economical fuel that reduces carbon emissions and saves drivers money.
“Nigerian motorists can choose between petrol at N1,000 per litre or the gas equivalent at N200 per Standard Cubic Meter. We are also offering incentives for commercial drivers to switch from petrol to gas at no cost,” the statement noted.
Onanuga concluded by stating that President Tinubu is committed to creating an environment conducive to private sector investment and expanding Nigeria’s CNG infrastructure to promote energy efficiency and economic growth.
