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Tinubu Offers Nigerians CNG at N200 as Petrol Hits N1,000
President Bola Tinubu has introduced a major shift in Nigeria’s fuel market by allowing motorists to choose between purchasing petrol at N1,000 per liter or opting for the more affordable alternative of Compressed Natural Gas (CNG), priced at N200 per Standard Cubic Meter.
The announcement was made during a strategic meeting held on Tuesday with key executives of the Nigerian Independent Petroleum Company (NIPCO) at the State House in Abuja.
In a statement delivered by Bayo Onanuga, the president’s spokesman, Tinubu outlined the new direction aimed at providing Nigerians with more affordable fuel options.
“Motorists now have the choice to either buy petrol at N1,000 per liter or the equivalent in CNG for just N200 per Standard Cubic Meter.
We’ve also introduced incentives to help commercial drivers convert their vehicles from petrol to gas without any cost,” Tinubu explained.
The president also took the time to recognize the critical role NIPCO has played in the promotion of CNG as a viable fuel alternative.
He highlighted the company’s efforts in encouraging the shift from petrol to CNG, noting how it has contributed to reducing Nigeria’s dependence on petrol.
This move is part of a broader effort to help consumers save on fuel expenses while transitioning to a more sustainable energy source.
Tinubu’s administration is positioning CNG as a cleaner and more cost-effective alternative to petrol, with the potential to lessen the economic burden on everyday Nigerians.
By adopting CNG, the government hopes to cut fuel costs for consumers and reduce the environmental impact of petrol consumption.
Additionally, the incentives to convert commercial vehicles at no charge are designed to ease the transition for businesses that rely heavily on transportation, further promoting the switch to CNG across the nation.
This latest policy highlights the government’s commitment to addressing fuel price concerns and providing Nigerians with practical alternatives, while also advancing the country’s energy strategy toward greener solutions.
TV anchor Rufai Oseni makes headlines as he speaks on fuel subsidy in Nigeria. He shared that Nigeria can have fuel subsidy without the long queues at filling stations.
“When we were still paying subsidies, there were no long queues. We were subsidising. So you can still have a subsidy regime going on, and there will be no long queues because production was close by. Dangote had it. That’s just it. That argument also falls flat.
“The biggest beneficiaries of subsidy are not Nigerians. They are crony capitalists that have big infrastructure, and they do contracts. They have been the biggest beneficiaries of the subsidy,” he said.
Lagos State Governor, Sanwo-Olu, speaks to those in the electricity sector about the usual blackouts in the state.
He speaks on ways things can change in the state and how electricity can be provided.
“We need to drop corporate egos, abandon long-standing excuses, and confront the harsh realities obstructing progress in the power sector.”
“We, state governments, used to give excuses that everything is centralised, so the Federal Government has unbundled it now. What have we done in a year and a half?” Sanwo-Olu asked.
“We take two steps forward, we go five steps backward,” he said.
Lagos State Governor Babajide Sanwo-Olu has declared Thursday, August 20, a work-free day for public servants in the state to mark the Isese Festival.
Speaking on the celebration, he said “Ìṣẹ̀ṣe is not a relic. It is a living expression of our traditions and a celebration of Yoruba spirituality as an important part of Nigeria’s cultural and religious landscape,” he said.
He added “When the drums sound in Lagos on Thursday, they answer drums in Havana, in Salvador, in Port of Spain. Fifty-five million people and counting. Lagos is not observing a local holiday. Lagos is standing at the centre of a global heritage,” Aregbe said.
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