Tinubu unveils fuel price template: Petrol sells at N1,000/litre, CNG N200

President Bola Tinubu announced on Tuesday that Nigerian motorists can now purchase petrol at N1,000 per litre, or opt for the equivalent Standard Cubic Meter of Compressed Natural Gas (CNG) at a significantly lower N200.

This development comes as the President commended the Nigerian Independent Petroleum Company (NIPCO) for its investments in the CNG sector.

The President’s assertion was contained in a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, titled, “President Tinubu meets NIPCO executives, commends investments in the CNG sector.”

During the meeting, Tinubu emphasized the importance of public-private partnerships in driving the transition to cleaner and more affordable energy solutions for Nigerians.

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“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,” he noted.

NIPCO has been at the forefront of promoting CNG as an alternative fuel, investing over N100 billion in pipeline infrastructure and CNG stations across the country. The company’s efforts have been instrumental in boosting public awareness and providing affordable CNG conversion kits.

Tinubu encouraged NIPCO to continue its innovative approach to CNG expansion, supporting the government’s broader goals in the energy sector.

“During the meeting, President Tinubu acknowledged NIPCO’s role as a critical player in enhancing the adoption of CNG as an alternative fuel, noting that such investments align with his administration’s energy security and economic diversification strategy.

He emphasised the importance of public-private partnerships in driving the transition to cleaner and more affordable energy solutions for Nigerians.

“The President 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,” the statement reads in part.

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