Tinubu meets with NIPCO Executives, commends company’s investments in CNG sector

*President Bola Ahmed Tinubu meets with Executives of NIPCO Plc, applauding the company for its contributions to Nigeria’s energy transition efforts, particularly its support for the Presidential Compressed Natural Gas Initiative

Isola Moses | ConsumerConnect

As Nigeria further explores the adoption of the Compressed Natural Gas (CNG) as an alternative fuel, President Bola Ahmed Tinubu has applauded NIPCO Plc for investing in the country’s CNG industry.

President Tinubu commended the company during a meeting with its Executives in the State House, in Abuja, FCT.

The Nigerian leader also lauded NIPCO’s contributions to the country’s energy transition efforts, particularly its support for the Presidential Compressed Natural Gas Initiative (PCNGI).

Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, who disclosed this in a statement Tuesday, October 22, 2024, said during the meeting, Tinubu acknowledged NIPCO’s role as a critical player in enhancing the adoption of CNG as an alternative fuel.

He equally noted that such investments align with his administration’s energy security and economic diversification strategy.

The President further emphasised the importance of Public-Private Partnerships (PPPs) in driving the transition to cleaner and more affordable energy solutions for Nigerian consumers.

The Nigerian leader lauded NIPCO’s efforts at 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.

Tinubu as well highlighted the significance of this initiative in reducing the country’s reliance on petrol and cutting down fuel costs for energy consumers.

CNG, being a cleaner and more affordable fuel, reduces the carbon footprint and saves consumers significant fuel costs, the statement noted.

President Tinubu stated: “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.”

Tinubu also reaffirmed his administration’s commitment to providing a conducive environment for private sector investments while expanding Nigeria’s CNG infrastructure to enhance energy efficiency and economic growth.

He further encouraged NIPCO Plc to continue its innovative approach to CNG expansion while supporting the government’s broader goals in the energy sector.

Speaking during the meeting with President Tinubu, Mr. Ramesh Kasangra, NIPCO Director, who led the delegation, thanked the President for his steadfast support of the CNG sector.

Kasangra expressed NIPCO’s commitment to furthering the partnership with the government to ensure Nigeria’s energy transition remains on track.

He also assured the President that the company is ready to invest in infrastructure to make CNG more accessible nationwide.

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, stated he.

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