NIPCO backs Tinubu’s petroleum reforms

NIPCO Plc has reinforced its backing for President Bola Tinubu’s petroleum industry reforms, with a focus on expanding Nigeria’s downstream gas infrastructure.

At a recent meeting at the Aso Villa, Abuja, NIPCO’s Senior Executive, Mr Ramesh Kansagra, expressed the company’s alignment with the Federal Government’s goal to advance the use of Compressed Natural Gas as a cost-effective and cleaner fuel option.

Kansagra disclosed that NIPCO identified the potential of CNG over 15 years ago, establishing the groundwork to enable motorists to transition to gas.

This foresight, he said, now aligns with Tinubu’s efforts, such as the Presidential Compressed Natural Gas Initiative which has paved the way for increased access to CNG-powered transportation.

Highlighting NIPCO’s commitment to expanding its gas infrastructure, Kansagra noted the company’s ongoing construction of a 100km gas pipeline from Lagos to Ibadan, a $100m project aimed at boosting supply and accessibility.

He said the expansion aligns with the administration’s reform goals, opening a path for more motorists and industries to shift to cleaner energy alternatives.

Kansagra lauded Tinubu’s proactive energy policies, emphasising that they “reflect the global shift towards cleaner fuels and come at an opportune time for Nigeria.”

The administration’s reforms, he added, will enhance economic sustainability by reducing reliance on fossil fuels and contributing to Nigeria’s environmental goals.

“Motorists can now benefit from a more affordable alternative to petrol, with CNG priced at N230 per SCM compared to petrol’s N1,000 per litre,“ he said.

Kansagra underscored this shift’s economic benefits, as CNG is produced domestically, unlike petrol, half of which is currently imported.