President Bola Tinubu has urged Nigerians to go for the Compressed Natural Gas, CNG initiative aimed at reducing reliance on petrol.
During a meeting with executives of the Nigerian Independent Petroleum Company, NIPCO, at the State House in Abuja, Tinubu announced that motorists can now choose between buying fuel at N1,000 per liter or opting for Compressed Natural Gas, CNG, at N200 per Standard Cubic Meter.
This development is expected to significantly lower fuel costs for consumers.
Cyber Reporters reports that CNG is a cleaner-burning fuel that produces fewer emissions and reduces carbon deposits on engines, thereby increasing engine life.
According to the International Energy Agency, CNG can reduce greenhouse gas emissions by up to 25% compared to petrol.
Tinubu acknowledged NIPCO’s pivotal role in promoting the adoption of CNG as an alternative fuel.
The company has been at the forefront of Nigeria’s CNG revolution, with several conversion centers and filling stations across the country.
The President emphasized the importance of this initiative in reducing the nation’s dependence on petrol.
To incentivize commercial motorists to make the switch, the government says it will provide free conversion services.
This move is expected to benefit taxi drivers, bus operators, and other commercial vehicle owners who spend heavily on fuel.
Nigeria has an estimated 5.6 trillion cubic meters of natural gas reserves, providing a viable alternative to petrol.
Reports say the CNG conversion process typically takes 2-3 hours and costs between N50,000 to N200,000, depending on the vehicle type.
He said:
“CNG, being a cleaner and more affordable fuel, reduces the carbon footprint and saves consumers significant fuel costs.
“Nigeria’s motorists can buy petrol at N1,000 per litre or equivalent gas per Standard Cubic Meter at N200.
“We have also introduced incentives for commercial motorists to convert from petrol to gas ‘free of cost.”
