Fuel to Sell For N230 as FG Expands CNG Conversion Kits, Dangote Issues Petrol Prices
- The Nigerian government has expanded the distribution of Compressed Natural Gas (CNG) conversion kits nationwide
- The kits are to hasten the conversion by commercial and private vehicle owners to achieve its target of new automotive fuel transition
- the P-CNGi launched Compressed Natural Gas (CNG) for vehicles at N230 per litre
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
The Nigerian government, via the Presidential CNG Initiative (P-CNG), has sustained the distribution of Compressed Natural Gas (CNG) conversion kits nationwide.
This comes as the Nigerian National Petroleum Company Limited (NNPC) began lifting petrol from the Dangote Refinery.
Source: UGC
Dangote petrol price emerges
Legit.ng earlier reported that the Dangote Refinery would sell the product to the national oil firm for between N960 and N980 naira per litre to the NNPC, which in turn sell it to the final consumers for between N857 and N865 per litre.
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Meanwhile, the CNG kits are intended to hasten the conversion by commercial and private vehicle owners to achieve the target of a new automotive fuel transition.
The representative of the P-CNGi, Moses Onate, disclosed at the NIPCO facility in Ogun State that about 1,000 kits are being moved to Abuja, Kaduna, Oyo, and Lagos States following the government's intervention to make them available for vehicle conversion.
FG targets one million vehicles
An Engineer at NIPCO, Nwaodu Austin Chinedu, confirmed that the company’s warehouse is stocked and that the distribution has been smooth nationwide.
He said the committee had signed an MoU with the conversion workshop owners to convert one million petrol vehicles to CNG by 2027.
Leadership reports that by switching to CNG, Nigeria is embracing a cleaner, cheaper and more sustainable fuel alternative that will benefit the economy and the environment.
The government reportedly aims to distribute one million conversion kits by the end of 2025, ensuring that the country’s commercial transport sector is fully equipped to adopt CNG and reduce dependence on petrol and diesel.
Nigeria fixes CNG prices at N230 per litre.
Legit.ng reported that the P-CNGi launched Compressed Natural Gas (CNG) for vehicles at N230 per litre. This initiative is designed to provide Nigerians with a more affordable and sustainable alternative to petrol and diesel.
This initiative is designed to provide Nigerians with a more affordable and sustainable alternative to petrol and diesel.
The announcement was detailed in a statement signed by Michael Oluwagbemi of PCNGi on Tuesday, September 10, 2024.
NNPC sends message to marketers on Dangote petrol lifting
Legit.ng earlier reported that the Dangote Refinery is set to commence distributing its petrol to marketers across Nigeria starting Sunday, September 15, 2024.
Reports say sources confirmed that the petrol prices from the refinery remain unchanged despite Dangote introducing the product into the Nigerian market early this month.
The initial daily allocation to the marketers is expected to be about 25 million litres, sold via the NNPC Trading Limited.
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Source: Legit.ng
