President Bola Tinubu speaks on CNG in Nigeria and shares how the benefits from it aren’t even helping the government but are going into the pockets of truck owners.

While speaking on his promise to help the refinery and the removal of the fuel subsidy to better the country, he spoke on CNG:

“Equally, the introduction of compressed natural gas — well, I will appeal to you: we will do more and encourage you, but ask your drivers to let the benefits trickle down to commuters too, because whatever benefit is coming from CNG is going into the pockets of truck owners. It’s not spreading as fast as I would like, but it should spread.

“The refineries you mentioned are going to come back to work. We’re just building a very firm reset and structural reworking of the economics of it.”

According to reports, fuel stations are reducing their prices a bit. This has become a general thing around Nigeria after the spike due to the removal of subsidy.

The prices are dropping to ₦1,275 and ₦1,299, going lower than ₦1,300 compared to what it was before.

The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has spoken on Nigeria’s economy, stating that the country lacks a good maintenance culture.

She said “The fact is that endowments alone do not add value. Budgetary allocations alone do not lead to new roads or good maintenance.”

“We lack a maintenance culture in the country. I have to say that. I’m Nigerian, but we need that. We need better ports and digital infrastructure, and lower trade costs. Execution is what matters, and successful execution requires focus. It requires prioritisation.”