Fuel Subsidy: Tinubu Targets Alternative Fuel Price of N250 per Litre, Sends Message to Nigerians

• President Tinubu is expecting Compressed Natural Gas (CNG) to sell at N250 per litre and wants Nigerians to prepare
• Currently, Nigerians are paying between N580 to N640 per litre for Premium Motor Spirits (PMS), popularly known as petrol
• The federal government is also encouraging citizens to convert their petrol-powered vehicles to gas-powered vehicles

President Bola Ahmed Tinubu estimates that refilling Compressed Natural Gas (CNG) would cost N250 per litre.

Ajuri Ngelale, the special adviser to the president on media and publicity, disclosed this while speaking on Channels Television.

Compressed Natural Gas (CNG) is a gasoline and diesel fuel alternative.

President Tinubu's CNG plan

Ngelale, during the conversation, revealed that the president is keen on making the CNG initiative work and has prioritised it.

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He also noted that the policy, chaired by Femi Gbajabiamila, the chief of staff, will roll out 11,500 new CNG fuel vehicles soon, focusing on mass transit systems across all states.

His words:

“The CNG initiative is a very important one to the president. This is because of energy costs, and Nigerians are hurting from rising food costs and inflation since the removal of fuel subsidy.

"This is why the president implemented this initiative targeting the transportation modes affecting most of our masses."

He also added that the government plans to sustain the supply and demand of CNG to crash fuel prices in the country.

“You should expect to pay roughly N250 per litre on average for CNG, which would drastically reduce the cost of PMS-fueled buses, which typically cost about N620 per litre."

Ngelale also said that through the initiative, the FG would be rolling out 55,000 new CNG conversion kits for existing PMS vehicles to accelerate the conversion process transition from PMS to CNG.

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Relief as FG authorises 9,000 filling stations for cheaper alternative fuel

Meanwhile, in another development, Legit.ng revealed that the Nigerian government has authorised over 9,000 fuel stations to dispense autogas nationwide.

The Nigerian government disclosed in a communique issued by the Nigerian Institute of Transport Technology (NITT) at the end of a stakeholders’ meeting the provision of a technical workforce and facility for developing and promoting autogas as a transport fuel in Nigeria.

The communique said some fillings stations in Nigeria had been designated as fit-for-purpose stations for autogas.

Source: Legit.ng