Bola Tinubu Offers Nigerians a Choice: Petrol at N1,000 per Litre or CNG at N200

President Bola Ahmed Tinubu introduced a new fuel pricing system for Nigerian motorists, giving them the option to buy petrol at N1,000 per litre or opt for Compressed Natural Gas (CNG) at a more affordable rate of N200 per Standard Cubic Meter. This decision was shared during a meeting with leaders from the Nigerian Independent Petroleum Company (NIPCO) at the State House in Abuja.

Tinubu explained that the new pricing structure is part of the Presidential Compressed Natural Gas Initiative (PCNGI), designed to promote cleaner and more cost-effective fuel alternatives while reducing the nation’s dependence on petrol. As part of the initiative, the government will cover the costs of converting vehicles to run on gas.

According to the Tribune, the President praised NIPCO for its investment in CNG infrastructure and for raising public awareness about the benefits of switching to gas. He stressed the importance of public-private collaboration to drive Nigeria’s energy transition and stimulate economic growth.

Ramesh Kasangra, NIPCO’s director, thanked the government for its support and highlighted the company’s investment of over N100 billion in building CNG pipelines and stations across the country. He also reaffirmed NIPCO’s commitment to working closely with the government to make CNG a viable and widely available fuel option for Nigerians.

This initiative is regarded as a crucial move towards improving energy efficiency and promoting sustainability in Nigeria’s energy industry.