Tinubu: Buy Petrol At N1000 or CNG At N200
President Bola Tinubu has made a momentous announcement, presenting Nigerian motorists with the option of purchasing either petrol at a steep N1,000 per liter or the more affordable Compressed Natural Gas (CNG) at N200 per Standard Cubic Meter.
The historic declaration was made during a meeting with executives of the Nigerian Independent Petroleum Company (NIPCO), with President Tinubu highlighting the vital role of NIPCO in facilitating the adoption of CNG as an alternative fuel source.
As the meeting progressed, President Tinubu underlined the importance of the CNG alternative in reducing the country’s dependence on petrol and significantly decreasing the cost of fuel for consumers.
In recognition of the role played by commercial motorists in the nation’s transport industry, President Tinubu also revealed incentives for these drivers to convert to the use of CNG at no cost to them.
This pivotal shift in Nigeria’s fuel landscape not only promises to alleviate the financial burden on motorists but also presents a unique opportunity for NIPCO to position itself as a key player in the country’s transition towards more sustainable and affordable energy solutions.
The implications of President Tinubu’s announcement are far-reaching and could have a transformative impact on the Nigerian economy and society. By making CNG a viable option for motorists, the country stands to reduce its reliance on imported petrol, thereby boosting the local gas industry and potentially leading to the creation of new jobs.
This shift could also contribute to reducing air pollution in urban areas, as CNG is a cleaner-burning fuel than petrol. As such, this new policy could have a positive effect on the health and well-being of Nigerians, particularly in densely populated cities like Lagos and Abuja.
