Tinubu Applauds NIPCO’s Role In Boosting Nigeria’s CNG Industry And Energy Security

President Bola Tinubu commended Nigerian Independent Petroleum Company (NIPCO) for its important investments in the country's Compressed Natural Gas (CNG) sector during a meeting with the company's executives at the State House in Abuja.

The president also praised NIPCO for its contributions to Nigeria's energy transition, especially its support for the Presidential Compressed Natural Gas Initiative.

During the meeting, Tinubu pointed out that NIPCO investments support his administration's goals of energy security and economic diversification.

"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," the president said, as per the official statement shared on X (formerly known as Twitter).

Tinubu reaffirmed his administration's commitment to creating a supportive environment for private sector investments and expanding Nigeria's CNG infrastructure to improve energy efficiency and promote economic growth.

He also encouraged NIPCO to keep up its innovative efforts in expanding CNG, while helping the government achieve its broader energy goals.

The president praised NIPCO for its role in promoting the "Switch to CNG" campaign, which has raised public awareness and provided affordable CNG conversion kits even before the official launch of the Presidential CNG Initiative.

He emphasized the importance of this initiative in reducing the country's dependence on petrol and lowering fuel costs for consumers.

Director at NIPCO Ramesh Kasangra, who led the delegation, thanked President Tinubu for his strong support of the CNG sector. He expressed NIPCO's commitment to working together with the government to keep Nigeria's energy transition on course.

He assured the president that the company was prepared to invest in infrastructure to make CNG more accessible across the country. According to him, NIPCO has been an important player in various sectors in Nigeria for over 40 years and will continue to believe in the country's future.

In August, Tinubu launched 30 hybrid CNG buses in Abuja as part of the government initiative to reduce transportation costs, enhance productivity, and save trillions of naira spent on the importation of Premium Motor Spirit and Automotive Gas Oil.