President Bola Tinubu has expressed gratitude to NIPCO Plc for its significant investments in Nigeria’s Compressed Natural Gas (CNG) sector, lauding the company’s contributions to the nation’s energy transition. During a meeting with NIPCO executives at the State House in Abuja, the President highlighted the importance of the company’s role in supporting the Presidential Compressed Natural Gas Initiative (PCNGI).
President Tinubu acknowledged NIPCO’s efforts in promoting the adoption of CNG as an alternative fuel, noting that these investments align with his administration’s goals of enhancing energy security and diversifying the Nigerian economy. He emphasized that public-private partnerships are crucial in driving the country’s transition toward cleaner and more affordable energy solutions.
“I commend NIPCO for championing the ‘Switch to CNG’ campaign, which has increased public awareness and provided affordable CNG conversion kits even before the official launch of the Presidential CNG Initiative,” Tinubu remarked.
He further highlighted the initiative’s potential to reduce Nigeria’s reliance on petrol, lower fuel costs for consumers, and significantly reduce the nation’s carbon footprint. With petrol prices now reaching N1,000 per litre, motorists can opt for CNG at N200 per Standard Cubic Meter, a much cheaper and environmentally friendly alternative. Additionally, the President noted that incentives are in place to encourage commercial motorists to convert their vehicles from petrol to gas at no cost.
During the meeting, President Tinubu reiterated his administration’s commitment to creating a business-friendly environment to attract more private sector investments in the energy sector. Expanding Nigeria’s CNG infrastructure, he said, is a critical part of ensuring energy efficiency and driving economic growth.
In response, Mr. Ramesh Kasangra, NIPCO’s director, thanked President Tinubu for his unwavering support of the CNG sector. He expressed NIPCO’s commitment to strengthening its partnership with the government to ensure Nigeria’s energy transition remains on course. Kasangra assured the President that NIPCO would continue to invest in infrastructure to make CNG more accessible across the country.
“NIPCO has been a key player in various sectors of the Nigerian economy for over four decades, and we remain committed to Nigeria’s long-term growth,” Kasangra stated.
This meeting underscored the significant strides being made in Nigeria’s energy transition and the critical role the private sector plays in achieving cleaner and more sustainable energy solutions for the country.