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Nigerian president, Bola Tinubu has offered Nigerians a choice between buying premium motor spirit (PMS), commonly known as petrol, at N1,000 per liter or opting for compressed natural gas (CNG) at N200 per standard cubic meter.
This statement was made during a meeting with the Nigerian Independent Petroleum Company (NIPCO) at the State House in Abuja on October 22, 2024, as revealed by presidential media aide Bayo Onanuga.
The President stressed that CNG offers a more affordable and cleaner alternative to petrol, especially in light of the recent subsidy removal that has significantly increased the cost of PMS..
He said:
“President Tinubu acknowledged NIPCO’s role as a critical player in enhancing the adoption of CNG as an alternative fuel, noting that such investments align with his administration’s energy security and economic diversification strategy.”
“He emphasised the importance of public-private partnerships in driving the transition to cleaner and more affordable energy solutions for Nigerians.
“The President lauded NIPCO’s efforts in promoting and supporting the ‘Switch to CNG’ campaign, which has been instrumental in boosting public awareness and providing affordable CNG conversion kits even before the official kickoff of the Presidential CNG Initiative.
“He highlighted the significance of this initiative in reducing the nation’s 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.
“Nigerian motorists can buy petrol at N1,000 per litre or the gas equivalent per Standard Cubic Meter at N200.
We have also introduced incentives for commercial motorists to convert from petrol to gas, free of cost.”
