President Bola Tinubu says Nigerians can buy premium motor spirit (PMS), also known as petrol, at N1,000 per litre or compressed natural gas (CNG) at N200 per standard cubic meter.
In a statement by Bayo Onanuga, special adviser to the
president, Tinubu spoke during 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.
“President Tinubu 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,” Onanuga said.
“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.
“He highlighted the significance of this 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.”
Also, Tinubu said his administration remains committed to
providing a conducive environment for private sector investments and expanding
Nigeria’s CNG infrastructure to enhance energy efficiency and economic growth.
He 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.
Kasangra 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.
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