President Bola Tinubu, Tuesday, said his government has given motorists a choice to either buy petrol at N100 per litre, or fill their converted tank with N200 per cubic metre of compressed natural gas, CNG; thanks to his administration’s initiative in that direction.
Tinubu, during the meeting, eulogized the advantages of CNG as a cleaner, cheaper, affordable and more readily available form of energy.
The President made the comment when he hosted the executives of NIPCO Plc, in the Aso Rock Presidential Villa Abuja.
NIPCO Plc is a major player in the oil and gas industry that prides itself with meeting the needs of all stakeholders in the deregulated downstream sector of the sector by providing quality services in petroleum product storage and handling in an environment that is friendly, safe and dignifying.
A release issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, said Tinubu thanked NIPCO for investing in Nigeria’s Compressed Natural Gas (CNG) sector during a meeting with the company’s executives at the State House in Abuja.
“The President commended NIPCO’s contributions to the nation’s energy transition efforts, particularly its support for the Presidential Compressed Natural Gas Initiative (PCNGI),” Onanuga said in the release.
President Tinubu, Onanuga continued, acknowledged NIPCO’s role as a critical player in enhancing the adoption of CNG as an alternative fuel, noting that such investments align with his administration’s energy security and economic diversification strategy.
The President also emphasised the importance of public-private partnerships in driving the transition to cleaner and more affordable energy solutions for Nigerians.
Tinubu lauded NIPCO’s efforts in promoting and supporting the “Switch to CNG” campaign, which, he maintained, has been instrumental in boosting public awareness and providing affordable CNG conversion kits even before the official kick-off of the Presidential CNG Initiative.
Tinubu highlighted the significance of the CNG initiative in reducing the nation’s reliance on petrol and cutting down fuel costs for consumers.
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 also introduced have incentives for commercial motorists to convert from petrol to gas” free of cost,” President Tinubu said.
He 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.
Mr. Ramesh Kasangra, NIPCO director, who led the delegation, thanked President Tinubu for his steadfast support of the CNG sector.
He expressed NIPCO’s commitment to furthering the partnership with the government to ensure Nigeria’s energy transition remains on track.
He assured the president that the company was ready to invest in infrastructure to make CNG more accessible nationwide.
According to him, NIPCO has been a key player in various sectors of Nigeria for over four decades and will continue to believe in Nigeria for the long term.