President Bola Tinubu has expressed his gratitude to NIPCO Plc for its investment in Nigeria’s compressed natural gas (CNG) sector.
The recognition was made during a meeting between the President and NIPCO executives at the State House, Abuja.
In a statement by the Special Assistant to the President on Information and Strategy, Bayo Onanuga, Tinubu commended NIPCO for its important role in supporting the country’s energy transition efforts, especially through the Presidential Compressed Natural Gas Initiative (PCNGI).
The President emphasized that NIPCO’s investment in CNG is consistent with his administration’s focus on energy security and economic diversification.
He noted that NIPCO is playing a key role in promoting the adoption of CNG as an alternative fuel, which is critical in reducing Nigeria’s dependence on gasoline and lowering fuel costs for consumers.
He emphasized that public-private collaboration is essential for a successful transition to cleaner and more affordable energy solutions.
President Tinubu also commended NIPCO for its support to the “Switch to CNG” campaign, which he said is helping to raise public awareness of CNG as a viable alternative fuel. The campaign also helped make affordable CNG conversion kits available to consumers even before the presidential CNG initiative was officially launched.
He pointed to the cost-saving effect of CNG, saying that although petrol prices remain high, Nigerians can purchase CNG at significantly lower prices.
“Nigerian motorists can buy petrol at N1,000 per liter and equivalent petrol at N200 per standard cubic metre. There will also be incentives for commercial motorists to switch from petrol to petrol free of charge. We have introduced it,” President Tinubu said.
The President reaffirmed his administration’s commitment to creating a favorable environment for private sector investment and expanding CNG infrastructure in the country. He encouraged NIPCO to maintain an innovative approach to increasing the use of CNG while supporting broader government goals in the energy sector.
In response, NIPCO Director Ramesh Kasangula, who led the delegation, expressed his gratitude to President Tinubu for his unwavering support to the CNG sector.
Mr. Kasangula expressed NIPCO’s commitment to further strengthen its partnership with the government to ensure Nigeria’s energy transition remains on track.
He also assured the President that NIPCO is ready to invest in the necessary infrastructure to make CNG more accessible nationwide.
NIPCO, which has played a key role in various sectors of the Nigerian economy for over 40 years, reaffirmed its long-term commitment to Nigeria’s development.
Chioma Cal
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