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President Bola Tinubu has advised Nigerian motorists to make a choice between buying petrol at ₦1000 per litre or using compressed natural gas (CNG), which is priced at ₦200.
These comments came during a meeting the President held with the company’s executives on Tuesday at the State House in Abuja, highlighting the administration’s focus on fostering strong relationships with the private sector.
He also expressed appreciation for NIPCO’s efforts in facilitating the nation’s energy transition, particularly through its support for the Presidential Compressed Natural Gas Initiative (PCNGI). This recognition highlights the vital partnership between the government and businesses in pursuing sustainable energy initiatives.
In the course of the meeting, President Tinubu noted NIPCO’s significance as a key player in advancing the adoption of compressed natural gas (CNG) as an alternative fuel source.
He acknowledged that these investments are aligned with his administration’s approach to enhancing energy security while simultaneously pursuing economic diversification.
The President stressed the vital importance of public-private partnerships in promoting the transition to cleaner and more accessible energy solutions for Nigerians.
He hinted at promoting and supporting the “Switch to CNG” campaign, which boosted public awareness and provided affordable CNG conversion kits even before the official kickoff of the Presidential CNG Initiative.
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He 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.
“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.
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’s director, who led the delegation, thanked Tinubu for his steadfast support for the CNG sector.
He expressed NIPCO’s commitment to furthering the partnership with the government to ensure Nigeria’s energy transition remained 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.
