President Bola Tinubu has introduced new fuel pricing options for Nigerian motorists, giving them the choice to buy petrol at ₦1,000 per litre or switch to its gas equivalent at ₦200 per Standard Cubic Meter.
The announcement was made during a meeting with executives from the Nigerian Independent Petroleum Company (NIPCO) at the State House in Abuja.
During the meeting, President Tinubu acknowledged NIPCO’s key contributions to Nigeria’s energy sector, especially its role in promoting the Presidential Compressed Natural Gas Initiative (PCNGI). He highlighted NIPCO’s efforts in encouraging the use of Compressed Natural Gas (CNG), which is crucial for the country’s transition to cleaner energy and economic diversification.
The President stressed the need for strong public-private partnerships to support affordable and cleaner energy alternatives. He commended NIPCO for its active participation in the “Switch to CNG” campaign, which has increased public knowledge about CNG and made conversion kits more accessible and affordable.
Tinubu also pointed out that his administration was offering incentives to commercial motorists, allowing them to convert their vehicles from petrol to gas at no cost. In his statement, he said, “Motorists can choose to buy petrol at ₦1,000 per litre or gas at ₦200 per Standard Cubic Meter, with free conversion for commercial vehicles.”
NIPCO’s director, Mr. Ramesh Kasangra, who led the delegation, thanked President Tinubu for his continuous support of the CNG sector. He reaffirmed NIPCO’s commitment to deepening its partnership with the government, ensuring that Nigeria continues to progress in its energy transition. Kasangra also promised to expand CNG access by making significant investments in infrastructure.
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