As many Nigerians continue to face economic hardship, President Bola Tinubu has announced that they can now buy premium motor spirit (PMS), popularly known as petrol, for N1,000 per litre or compressed natural gas (CNG) at N200 per standard cubic metre.
According to a statement provided by presidential media aide Bayo Onanuga, the President mentioned this while meeting with the Nigerian Independent Petroleum Company (NIPCO) in the State House in Abuja on Tuesday, October 22.
Tinubu praised NIPCO’s contributions to the nation’s energy transition initiatives, notably its support for the presidential compressed natural gas initiative (PCNGI), and stated that CNG saves consumers a considerable amount of money.
“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,” Onanuga said.
“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.” the statement in part reads.
According to Onanuga, President Tinubu has stated that his administration is committed to creating a favorable climate for private sector investment and extending Nigeria’s CNG infrastructure in order to improve energy efficiency and economic growth.
A Gentle Reminder: Every obstacle is a stepping stone, every morning; a chance to go again, and those little steps take you closer to your dream.
Nnamdi Okoli
