President Bola Tinubu has announced that Nigerians now have the option to purchase Premium Motor Spirit (PMS), commonly referred to as petrol, at N1,000 per litre, or switch to Compressed Natural Gas (CNG) at N200 per standard cubic metre.
In a statement from his special adviser, Bayo Onanuga, Tinubu made these remarks during a meeting with representatives from the Nigerian Independent Petroleum Company (NIPCO) at the State House in Abuja on Tuesday.
Commending NIPCO’s role in advancing the nation’s energy transition, particularly through its support for the Presidential Compressed Natural Gas Initiative (PCNGI), Tinubu highlighted the cost-saving benefits of CNG for consumers.
“President Tinubu acknowledged NIPCO’s key contributions to expanding the use of CNG as an alternative fuel,” Onanuga stated. “He noted that such investments align with his administration’s strategy for energy security and economic diversification.”
The president stressed the importance of public-private partnerships in driving the shift to cleaner and more affordable energy solutions, praising NIPCO’s efforts in promoting the “Switch to CNG” campaign. This initiative has been instrumental in raising public awareness and providing affordable CNG conversion kits, even ahead of the official launch of the Presidential CNG Initiative.
Tinubu emphasised the significance of the initiative in reducing reliance on petrol, lowering fuel costs for consumers, and providing a cleaner, more affordable energy option. “CNG, being a cleaner and cheaper fuel, not only reduces carbon emissions but also offers substantial savings on fuel expenses,” he stated. “Nigerian motorists now have the choice of purchasing petrol at N1,000 per litre or CNG at N200 per standard cubic metre. We have also introduced incentives for commercial motorists to convert to gas at no cost.”
He reiterated his administration’s commitment to fostering a supportive environment for private sector investments and expanding Nigeria’s CNG infrastructure to enhance energy efficiency and promote economic growth. Tinubu encouraged NIPCO to continue its innovative efforts in CNG expansion while aligning with the government’s broader objectives in the energy sector.
Ramesh Kasangra, NIPCO’s director, who led the delegation, expressed gratitude for the president’s support of the CNG sector. Kasangra affirmed the company’s readiness to invest in infrastructure to make CNG more accessible across the country, noting NIPCO’s long-standing presence in various sectors of Nigeria for over four decades.
