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President Bola Tinubu has stressed the need for public-private partnerships to drive the transition to cleaner and more affordable energy solutions for Nigerians.
He made the observation during a meeting with the executives of NIPCO at the Presidential Villa, Abuja on Tuesday.
The president thanked the company for investing in Nigeria’s Compressed Natural Gas (CNG) sector.
He commended NIPCO’s contributions to the nation’s energy transition efforts, particularly its support for the Presidential Compressed Natural Gas Initiative (PCNGI).
Tinubu acknowledged NIPCO’s role as a critical player in enhancing the adoption of CNG as an alternative fuel, noting that such investments align with his administration’s energy security and economic diversification strategy.
The President lauded the company’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.
A statement issued by Bayo Onanuga, Special Adviser to the President, (Information & Strategy), explained that 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,” it quoted the president as saying.
Tinubu 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.
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