October 23, 2024
By Samuel Ogunsona
The Nigerian President, Bola Tinubu, has advised Nigerian motorists to consider switching to Compressed Natural Gas (CNG) as an alternative fuel source, priced at ₦200, or continue buying petrol at ₦1,000 per liter.
This statement was made during a meeting with executives at the State House in Abuja.
President Tinubu acknowledged NIPCO’s contributions to the nation’s energy transition efforts, particularly its support for the Presidential Compressed Natural Gas Initiative (PCNGI).
The initiative aims to reduce Nigeria’s reliance on petrol, promote energy efficiency, and provide more affordable energy solutions for Nigerians.
The President emphasized the importance of public-private partnerships in driving this transition. NIPCO has committed to investing in infrastructure to make CNG more accessible nationwide.
“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,’” Tinubu said.
With the Government’s support, Nigeria is poised to transition towards a more sustainable energy future.
President Tinubu praised NIPCO’s role as a critical player in enhancing the adoption of CNG as an alternative fuel. He noted that such investments align with his administration’s energy security and economic diversification strategy.
The move is expected to reduce fuel costs for consumers, promote economic growth, and minimize the country’s dependence on petrol. As Nigeria navigates its energy transition, the partnership between the government and private sector will play a crucial role in shaping the nation’s energy landscape.
