President Bola Tinubu met with the executives of NIPCO on Tuesday, expressing his gratitude for the company’s significant investments in Nigeria’s Compressed Natural Gas (CNG) sector.
During the meeting, Tinubu highlighted the importance of NIPCO’s contributions to the nation’s energy, emphasizing how such investments play a crucial role in enhancing energy security and promoting sustainable development.
President Bola Tinubu in Office at Aso Villa
He encouraged continued collaboration between the government and private sector to further advance the CNG industry, which is vital for Nigeria’s economic growth and environmental sustainability.
The President commended NIPCO’s contributions to the nation’s energy transition efforts, particularly its support for the Presidential Compressed Natural Gas Initiative (PCNGI).
President Tinubu recognized NIPCO’s pivotal role in promoting the adoption of CNG as an alternative fuel, highlighting that these investments support his administration’s strategy for energy security and economic diversification.
He emphasised the importance of public-private partnerships in driving the transition to cleaner and more affordable energy solutions for Nigerians.
The President in a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, 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.
The President 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.
Mr Ramesh Kasangra, NIPCO director, who led the delegation, thanked President 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 will continue to believe in Nigeria for the long term.
