President Bola Tinubu has reacted to the high cost of petrol in the country, saying Nigerians have options as they can either buy petrol at N1,000 per litre or compressed natural gas (CNG) at N200 per standard cubic meter.
According to a statement by Bayo Onanuga, special adviser to the president, Tinubu made the remark at a meeting with the Nigerian Independent Petroleum Company (NIPCO) on Tuesday at the State House in Abuja.
While commending NIPCO’s contributions to the nation’s energy transition efforts, particularly its support for the presidential compressed natural gas initiative (PCNGI), Tinubu said CNG saves consumers significant costs.
“He emphasised the importance of public-private partnerships in driving the transition to cleaner and more affordable energy solutions for Nigerians.
“The President lauded NIPCO’s efforts in promoting and supporting the ‘Switch to CNG’ campaign, which has been instrumental in boosting public awareness and providing affordable CNG conversion kits even before the official kickoff of the Presidential CNG Initiative,” the statement quoted the president as having said.
President Tinubu also highlighted the significance of the 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.
“Nigerian motorists can buy petrol at N1,000 per litre or the gas equivalent per Standard Cubic Meter at N200. We have also introduced incentives for commercial motorists to convert from petrol to gas, free of cost,” he added.
He restated 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 and encouraged NIPCO to continue its innovative approach to CNG expansion while supporting the government’s broader goals in the energy sector.
Ramesh Kasangra, NIPCO director, who led the delegation, thanked Tinubu for his steadfast support of the CNG sector and said the company was ready to invest in infrastructure to make CNG more accessible nationwide as they have been a key player in various sectors of Nigeria for over four decades.
