Tinubu Introduces CNG Initiative, Promises Relief From ₦750 Per Liter Fuel Costs

Tinubu Introduces CNG Initiative, Promises Relief From ₦750 Per Liter Fuel Costs

The Nigerian government has declared an end to the era of purchasing Premium Motor Spirit (PMS) at prices ranging from ₦750 to ₦1000 per liter. According to Naija News, this announcement coincides with plans to commission 30,000 Compressed Natural Gas (CNG) powered vehicles within the next 90 days……. CONTINUE READING

Michael Oluwagbemi, Project Director and Chief Executive Officer of the Presidential Compressed Natural Gas Initiative, made this revelation during the Park to Park CNG Mobilisation program held at Ojota Park in Lagos. He disclosed that the initiative, costing ₦36 billion, will distribute 30,000 CNG conversion kits nationwide free of charge over the next three months, each kit valued at ₦1.2 million.

The initiative aims to promote CNG as a viable alternative fuel for transportation. Oluwagbemi highlighted the government’s commitment to expanding the initiative beyond 30,000 kits, with a target of one million kits, to ensure widespread adoption.

He emphasized, “The era of buying fuel at ₦750, ₦800, or ₦1000 per liter is over. We will start using the gas under our feet so that we can purchase it at ₦230 per kilogram.”

This initiative follows President Bola Tinubu’s directive for all government bodies to procure CNG-powered vehicles as part of efforts to mitigate the impact of fuel subsidy removal.

Earlier reports from Naija News noted that the Nigerian National Petroleum Company Limited (NNPC) has shifted focus towards CNG as a cheaper and more sustainable alternative to PMS, revealing a 40 percent cost reduction in automobile usage compared to petrol.