Oil & Gas
PRESIDENT Bola Tinubu has commended the management of the Nigerian Independent Petroleum Company (NIPCO) for investing in Nigeria’s Compressed Natural Gas (CNG) sector.
The President gave the commendation during a meeting with the company’s executive on Tuesday at the State House, Abuja.
He praised NIPCO’s contributions to the nation’s energy transition efforts, particularly its support for the Presidential Compressed Natural Gas Initiative (PCNGI).
During the meeting, President Tinubu acknowledged NIPCO’s role as a critical player in enhancing the adoption of CNG as an alternative fuel.
He noted that such investments aligned with his administration’s energy security and economic diversification strategy.
The President emphasised the importance of public-private partnerships in driving the transition to cleaner and more affordable energy solutions for Nigerians.
Tinubu lauded NIPCO’s efforts in promoting and supporting the “Switch to CNG” campaign, which boosted public awareness and provided affordable CNG conversion kits even before the official kickoff of the Presidential CNG Initiative.
He highlighted the significance of the initiative in reducing the nation’s reliance on petrol and cutting down fuel costs for consumers.
“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,’” Tinubu said.
He 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’s director, who led the delegation, thanked Tinubu for his steadfast support for the CNG sector.
He expressed NIPCO’s commitment to furthering the partnership with the government to ensure Nigeria’s energy transition remained 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. (NAN)
A.I
Oct. 23, 2024
Tags: NIPCO President Bola Tinubu
