President Bola Tinubu has offered Nigerian motorists new fuel pricing options, enabling them to purchase petrol at ₦1,000 per litre or its gas equivalent at ₦200 per Standard Cubic Meter.
The announcement came during a Tuesday meeting with executives from the Nigerian Independent Petroleum Company (NIPCO) at the State House in Abuja.
During this strategic session, President Tinubu highlighted NIPCO’s vital contributions to Nigeria’s energy sector, particularly its role in supporting the Presidential Compressed Natural Gas Initiative (PCNGI).
He recognized the company’s efforts in promoting the adoption of Compressed Natural Gas (CNG) as a pivotal element of the nation’s energy transition and economic diversification strategies.
The President emphasized the importance of public-private partnerships in fostering a shift to cleaner, more affordable energy solutions.
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He praised NIPCO for its proactive role in the “Switch to CNG” campaign, which has significantly increased public awareness and facilitated access to affordable CNG conversion kits.
He also mentioned that his administration is incentivizing commercial motorists to convert their vehicles from petrol to gas at no cost.
Presidential spokesman quoted Tinubu to have said, “Nigeria’s motorists can buy petrol at ₦1,000 per litre or equivalent gas per Standard Cubic Meter at ₦200.
We have also introduced incentives for commercial motorists to convert from petrol to gas” free of cost.”
NIPCO’s director, Mr. Ramesh Kasangra, who led the delegation, expressed gratitude towards President Tinubu for his unwavering support for the CNG sector.
Kasangra reaffirmed NIPCO’s dedication to deepening its partnership with the government, ensuring that Nigeria remains on course with its energy transition goals.
He assured the president of NIPCO’s readiness to expand CNG accessibility through significant investments in infrastructure.
