Nigerian President, Bola Ahmed Tinubu on Monday stated that Nigerian motorists now have the option to purchase petrol at N1,000 per litre or switch to Compressed Natural Gas (CNG) at N200 per Standard Cubic Meter.
The President disclosed this during a meeting with NIPCO executives at the State House in Abuja, on Monday.
Addressing the NIPCO executives, Tinubu emphasized that his administration introduced incentives for commercial motorists to convert their vehicles from petrol to gas at no cost. He said this was to cushion the effect of high cost of petrol.
Tinubu, therefore, commended the NIPCO executives for their investments in Nigeria’s CNG sector. The President also praised them for their support for the Presidential Compressed Natural Gas Initiative (PCNGI).
The President described the company as a critical player in enhancing the adoption of CNG as an alternative fuel in the country.
He said, “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.”
President Tinubu also lauded NIPCO’s efforts in promoting and supporting the “Switch to CNG” campaign. This, the President stated has been instrumental in boosting public awareness.
He also noted that NIPCO provided affordable CNG conversion kits even before the official kickoff of the Presidential CNG Initiative.
Stating the importance of the the initiative, Tinubu emphasized that the significance of the initiative is to reduce the nation’s reliance on petrol. As well as cutting down fuel costs for consumers.
Recall that CNG, being a cleaner and more affordable fuel, reduces the carbon footprint and saves consumers significant fuel costs.
The NIPCO delegation led by its Director, Ramesh Kasangra, to the State House, pledged the company’s commitment to investing in infrastructure to make CNG more accessible to Nigerians.
He stated that NIPCO has been operating in various sectors of Nigeria for over four decades, The Director, therefore, pledged that the company will remain committed to long-term investments in the country.
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