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- President Bola Tinubu announced that motorists can now purchase petrol for N1,000 per litre or choose Compressed Natural Gas (CNG) at N200 per Standard Cubic Meter (SCM)
- NIPCO has invested over N100 billion to expand CNG infrastructure, including pipelines and stations across Nigeria
- Tinubu praises NIPCO’s support for Nigeria’s energy transition, highlighting the partnership’s role in reducing reliance on petrol
President Bola Tinubu says Nigerian motorists can now purchase a litre of Premium Motor Spirit, also known as petrol, at N1,000 per litre.
The president also noted that the equivalent of a litre of petrol, a Standard Cubic Meter of Compressed Natural Gas, can be had for N200.
Tinubu said this when he met with the executives of the Nigerian Independent Petroleum Company, led by the director, Mr Ramesh Kasangra, at the State House in Abuja on October 22, according to a statement issued by the president’s Special Adviser on Information and Strategy, Bayo Onanuga, titled, “President Tinubu meets NIPCO executives, commends investments in the CNG sector.”
“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.
The statement read partly, “The President commended NIPCO’s contributions to the nation’s energy transition efforts, particularly its support for the Presidential Compressed Natural Gas Initiative (PCNGI).
“During the meeting, 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.
“He emphasised the importance of public-private partnerships in driving Nigerians’ transition to cleaner and more affordable energy solutions.
“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.”
In January 2024, NIPCO said it had invested over N100 billion to lay pipelines for easy access to CNG from existing major trunks across its operating states and to build CNG stations across the country.
Tinubu noted that the PCNGI has helped reduce Nigeria’s reliance on petrol and cut down fuel costs for consumers, adding that the CNG, a cleaner and more affordable fuel, reduces the carbon footprint and saves consumers significant fuel costs.
The president stressed 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.
In his remarks, the company’s director thanked the president for his steadfast support of the CNG sector, as he expressed NIPCO’s commitment to furthering the partnership with the government to ensure Nigeria’s energy transition remains on track.
He also assured Tinubu 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.
Nigerians react as CNG-powered car explodes in Benin City, injuring many
Meanwhile, TheRadar earlier compiled the reactions from netizens as the explosion of a car powered by Compressed Natural Gas (CNG) in Benin City, which occurred while being refilled at a NipCo station, has sparked public outcry over safety standards amid Nigeria's push for energy alternatives.
The incident, which occurred on Thursday, October 17, destroyed the rear end of the car and resulted in multiple injuries to individuals.