President Bola Tinubu has announced that Nigerian motorists can now choose between buying petrol at N1,000 per litre or compressed natural gas (CNG) at N200 per Standard Cubic Meter.
The announcement came during a meeting with executives of the Nigerian Independent Petroleum Company (NIPCO) at the State House in Abuja.
“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,” Bayo Onanuga, Presidential spokesman, quoted Tinubu to have said.
The President commended NIPCO’s contributions to the nation’s energy transition efforts, particularly its support for the Presidential Compressed Natural Gas Initiative (PCNGI).
The statement added, “President Tinubu 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 director, who led the delegation, thanked President Tinubu for his steadfast support of the CNG sector.
“He expressed NIPCO’s commitment to furthering the partnership with the government to ensure Nigeria’s energy transition remains 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.”