President Bola Tinubu says Nigerians can buy premium motor spirit (PMS), also known as petrol, at N1,000 per litre or compressed natural gas (CNG) at N200 per standard cubic metre.
President Bola Tinubu revealed this during a meeting with the Nigerian Independent Petroleum Company (NIPCO) at the State House in Abuja on Tuesday.
While commending NIPCOs contributions to the nations energy transition efforts, particularly its support for the presidential compressed natural gas initiative (PCNGI), Tinubu said CNG saves consumers significant costs. He acknowledged NIPCOs role in advancing the use of CNG, noting its efforts in promoting cleaner and more affordable energy solutions for Nigerians.
The President also assured that the government remains committed to creating a favorable environment for private sector investments in energy infrastructure, which would boost the countrys economic growth.
He highlighted the significance of this initiative in reducing the nations reliance 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.
Nigerias 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, Presidential spokesman, Bayo Onanuga, quoted Tinubu to have said.
NIPCO Director, Ramesh Kasangra, who led the delegation, said the company was ready to invest in infrastructure to make CNG more accessible nationwide as they have been a key player in various sectors of Nigeria for over four decades.
Kasangra thanked Tinubu for his steadfast support of the CNG sector.
