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President Bola Tinubu has recognized NIPCO, an oil and gas company operating in the country, for its investments in the nation's transition to Compressed Natural Gas (CNG) from petrol.
According to a press release from his spokesman, Bayo Onanuga, the President, during a meeting with the company's executives at the Presidential Villa, expressed gratitude to NIPCO for supporting the Presidential Compressed Natural Gas Initiative (PCNGI).
According to him, the NIPCO’s investment in adopting the CNG as an alternative fuel aligned with his administration’s energy security and economic diversification strategy.
He emphasized the importance of public-private partnerships in driving the transition to cleaner and more affordable energy solutions for Nigerians just as he 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.
“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,” President Tinubu said.
Tinubu reaffirmed his administration’s commitment to providing a conducive environment for private sector investments and expanding Nigeria’s CNG infrastructure to enhance energy efficiency and economic growth.
He further encouraged NIPCO to continue its innovative approach to CNG expansion while supporting the government’s broader goals in the energy sector.
Ramesh Kasangra, NIPCO Director, who led the delegation, thanked Tinubu for his steadfast support of the CNG sector.
He expressed NIPCO’s commitment to furthering the partnership with the government to ensure Nigeria’s energy transition remains on track.
He assured the president that the company was ready to invest in infrastructure to make CNG more accessible nationwide.
According to him, NIPCO has been a key player in various sectors of Nigeria for over four decades and would continue to believe in Nigeria for the long term.
