…says administration introduced incentive for commercial motorist to convert, cost-fr
President Bola Tinubu has urged Nigerians to embrace the newly introduced compressed natural gas (CNG), which costs N200 per litre, thereby reducing fuel costs as petrol currently sells at N1000 per litre.
He added that his government have also introduced incentives for commercial motorists to convert from petrol to gas ‘free of cost.’
The President, during a meeting with NIPCO’s executive on Tuesday at the State House, Abuja, praised their contribution to the nation’s energy transition efforts, particularly its support for the Presidential Compressed Natural Gas Initiative (PCNGI).
President Tinubu at the meeting also acknowledged NIPCO’s role as a crucial player in fast-tracking the adoption of CNG as an alternative fuel across the nation.
He pointed out that these investments coincide with the economic diversification and energy security policies of his administration.
The President underlined how crucial public-private partnerships are to accelerating Nigerians’ shift to greener and more reasonably priced energy options.
Tinubu lauded NIPCO’s efforts in promoting and supporting the “Switch to CNG” campaign, which boosted public awareness and provided affordable CNG conversion kits even before the official kickoff of the Presidential CNG Initiative.
He emphasised the initiative’s importance in lessening the country’s dependency on petrol and cutting down fuel costs for consumers.
“CNG, being a cleaner and more affordable fuel, reduces the carbon footprint and saves consumers significant fuel costs. Nigeria’s motorists can buy petrol at N1,000 per litre or equivalent gas per Standard Cubic Meter at N200.” Tinubu said.
In order to improve energy efficiency and economic progress, he reiterated his administration’s commitment to creating an atmosphere that is favourable for private sector investments and growing Nigeria’s CNG infrastructure.
He also urged NIPCO to support the government’s larger energy-related objectives while maintaining its creative approach to CNG expansion.
The delegation’s leader, Mr. Ramesh Kasangra of NIPCO, commended Tinubu for his unwavering support of the CNG industry.
He reaffirmed NIPCO’s commitment to strengthening its collaboration with the government in order to keep Nigeria’s energy transition on course.
He gave the President his word that the business was prepared to undertake infrastructural investments to increase the availability of CNG across the country, with claims that NIPCO has been a major force in several Nigerian industries for more than 40 years and would keep having faith in the country in the long run.
