President Bola Tinubu has announced that Nigerian motorists can now buy Premium Motor Spirit (petrol) at N1,000 per litre or the equivalent amount of Compressed Natural Gas (CNG) at N200 per standard cubic meter (SCM).
The President made this statement during a meeting with executives of the Nigerian Independent Petroleum Company (NIPCO), led by Director Mr. Ramesh Kasangra, at the State House in Abuja.
The meeting’s details were shared in a statement by Bayo Onanuga, the Special Adviser on Information and Strategy, titled “President Tinubu meets NIPCO executives, commends investments in the CNG sector.”
President Tinubu highlighted that the government has introduced incentives to encourage commercial motorists to switch from petrol to CNG, offering free conversion services to facilitate the transition.
The statement reads, “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 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 the transition to cleaner and more affordable energy solutions for Nigerians.
The statement further emphasized the President’s appreciation for NIPCO’s significant contributions to Nigeria’s energy transition efforts, particularly its support for the Presidential Compressed Natural Gas Initiative (PCNGI).
Tinubu praised NIPCO’s role as a key player in promoting the use of CNG as an alternative fuel. This aligns with his administration’s strategy for energy security and economic diversification.
The President reiterated the importance of collaboration between the public and private sectors in driving the shift towards cleaner and more affordable energy solutions for Nigerians. He applauded NIPCO’s efforts in raising public awareness of CNG and making conversion kits affordable, noting that their support had been crucial even before the official launch of the Presidential CNG Initiative.
President Tinubu noted that the Presidential CNG Initiative has significantly reduced Nigeria’s dependence on petrol, lowering fuel costs for consumers. He stressed that CNG, being a cleaner and more affordable fuel, helps reduce the country’s carbon footprint while delivering cost savings to Nigerians.
He reaffirmed his administration’s commitment to fostering an enabling environment for private sector investment and expanding Nigeria’s CNG infrastructure to boost energy efficiency and drive economic growth.
The President encouraged NIPCO to continue its innovative approach in expanding CNG availability, while aligning with the government’s broader goals in the energy sector.
In response, NIPCO’s director expressed gratitude for the President’s unwavering support of the CNG sector and reaffirmed the company’s dedication to partnering with the government in ensuring Nigeria’s energy transition remains on course. He also assured that NIPCO is prepared to invest in further infrastructure to make CNG more accessible across the nation.
