FG Plans New 150 Retail Stations To Buy Cheaper CNG Fuel
- The Nigerian government is planning to make Compressed Natural Gas (CNG) stations more accessible to Nigerians
- It targets 150 new retail stations by the end of the year, which it hopes will encourage more Nigerians to convert
- President Bola Tinubu has directed that one million vehicles must be converted to CNG by 2027
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Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Michael Oluwagbemi, the programme director and chief executive of the Presidential Compressed Natural Gas Stations Initiative has announced plans to have no fewer than 150 retail stations before the end of 2025.
Source: Getty Images
He disclosed this during the groundbreaking ceremony of five mini-liquefied natural gas plants in Kogi by the Nigerian National Petroleum Company Limited.
He added that the presidential CNG initiative is hoping to attract millions of dollars in investment this year.
Oluwagbemi acknowledged the challenges of gas access in the northeast and northwest regions, Punch reports.
He said:
“We aim to convert one million vehicles to CNG by 2027,” Oluwagbemi said, highlighting substantial progress in boosting Nigeria’s compression capacity and expanding conversion centers nationwide.
“In 2024 alone, we secured over $470 million in investments, with projections to double this amount in 2025.”
Oluwagbemi mentioned that $470m was attracted as an investment in 2024, saying this will double in the current year.
He said:
“In 2024, we secured over $470 million in combined investments from both public and private sector players. By 2025, we anticipate doubling this figure as we work towards establishing at least 500 conversion centers and over 150 CNG retail outlets by year-end.”
New CNG station location
Legit.ng reported that the NNPC launched new CNG refuelling stations in Lagos.
Here are the new locations:
- Fola Agoro SS – Fola Agoro, Shomolu LGA, Lagos
- Alapere SS – Oworonshoki Expressway, Alapere, Lagos
- Marina SS – Along Marina, Marina, Lagos Island
- Agege Bypass SS – Along Agege Bypass, Idimuangoro, Lagos
- Lakowe SS – Along Lagos Epe Expressway, Lagos
- Odogunyan SS – Along Ikorodu-Sagamu Road, Ikorodu
For residents in Abuja, here are the new locations to refuel CNG.
- NNPC Retail Sector Centre C
- NNPC Retail Dei Dei
- NNPC Retail Gaduwa
- NNPC Retail Ushafa
- NNPC Retail Zone 1
- NNPC Retail NIPCO Gwagwalada
- NIPCO Airport Road, Kubwa
- Upcoming Stations
- NIPCO (MRU) Kubwa
- NIPCO (MRU) Mabushi
- NIPCO (MRU) Madala
- NIPCO (MRU) Lugbe
- NIPCO (MRU) Tunga Maje
- NIPCO (MRU) Utako
Imported petrol prices fall
A previous report by Legit.ng disclosed that the landing cost of petrol dropped to N922 per litre, below the one sold by the Dangote Refinery.
Oil marketers have revealed that the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, has dropped to N922.65 per litre as of Friday, January 24.
This was disclosed in the updates published by the Major Energies Marketers Association of Nigeria (MEMAN).
Proofreading by Nkem Ikeke, journalist and copy editor at Legit.ng.
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Source: Legit.ng
