In a statement made available today October 22, 2024 by Bayo Onanuga, the Special Adviser to the President on Information & Strategy said President Bola Ahmed Tinubu, GCFR has commended NIPCO for its significant investments in Nigeria’s Compressed Natural Gas (CNG) sector. During a meeting with the company’s executives at the State House in Abuja, the President lauded NIPCO’s role in advancing the nation’s energy transition, particularly through its support of the Presidential Compressed Natural Gas Initiative (PCNGI).
The meeting comes as part of ongoing efforts by the President Tinubu administration to promote alternative energy sources and reduce the nation’s dependence on petrol, while supporting economic growth and sustainability.
The President highlighted NIPCO’s contributions in promoting CNG as a viable alternative fuel, noting that these efforts align with his administration’s broader goals of energy security and economic diversification. He underscored the importance of partnerships between the public and private sectors in transitioning to cleaner and more affordable energy solutions for Nigerians.
Tinubu also praised the company’s efforts in driving the “Switch to CNG” campaign, which has been key in raising public awareness and providing affordable CNG conversion kits, even ahead of the formal launch of the PCNGI. He pointed out that this initiative helps reduce reliance on petrol while cutting fuel costs for consumers. “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 at no cost,” Tinubu said.
The President reaffirmed his administration’s commitment to creating a conducive environment for private sector investments and expanding the country’s CNG infrastructure. He encouraged NIPCO to continue its innovative approach to the sector’s growth, while supporting the government’s overarching energy strategy.
Leading the delegation, NIPCO Director Mr. Ramesh Kasangra expressed gratitude for the President’s unwavering support of the CNG sector. He reiterated the company’s commitment to strengthening its partnership with the government to ensure the success of Nigeria’s energy transition. Kasangra also assured Tinubu that NIPCO is prepared to invest in infrastructure to make CNG more accessible nationwide, emphasizing the company’s long-standing involvement in Nigeria’s development.
