In a significant move aimed at enhancing Nigeria’s energy landscape, President Bola Tinubu has unveiled new fuel pricing options for motorists. During a meeting with executives from the Nigerian Independent Petroleum Company (NIPCO) at the State House in Abuja, Tinubu announced that motorists can now choose between purchasing petrol at N1,000 per litre or compressed natural gas (CNG) at N200 per Standard Cubic Meter.
“This initiative allows motorists the flexibility to select their fuel source while encouraging a shift towards more sustainable energy options,” said Bayo Onanuga, presidential spokesman. He emphasized that the government will also provide incentives for commercial drivers to convert from petrol to CNG at no cost.
The President praised NIPCO for its contributions to Nigeria’s energy transition, particularly its support for the Presidential Compressed Natural Gas Initiative (PCNGI). He reaffirmed his administration’s commitment to creating a conducive environment for private sector investments, which is crucial for expanding the country’s CNG infrastructure.
NIPCO director Ramesh Kasangra expressed gratitude for the government’s support and reiterated the company’s commitment to investing in infrastructure to make CNG more accessible across Nigeria. With over 40 years of experience in various sectors, NIPCO aims to play a pivotal role in the country’s energy transition efforts.
This initiative marks a transformative step towards enhancing energy efficiency and promoting economic growth, as Nigeria continues to navigate its energy challenges.