See why filling stations will begin selling fuel priced at N200 to Nigerians

• The federal government has ordered all filling stations owners nationwide to begin installation of CNG pumps
• Tinubu government believes that the directive will give Nigerians better access to refill their vehicles for as low as N200
• The CBN fuel is considered as a cheaper alternative to Premium Motor Spirit, also known as petrol

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.

The Nigerian government has ordered all oil marketers to commence the installation of Compressed Natural Gas (CNG) pumps at their filling stations across the country.

The directive aims at increasing access to CNG as an alternative fuel source to petrol for Nigerians.

FG wants more filling stations to install CNG pumps Photo credit: Indranil Aditya
Source: Getty Images

The directive was issued by Farouk Ahmed, chief executive officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said at 2024 OTL Africa Downstream Energy Week at Nigeria’s commercial capital.

According to the NMDPRA, the new mandate will see most retail outlets install CNG add-ons, enabling them to service an expanding fleet of CNG-powered vehicles in the country. BusinessDay reports.

He said:

“Most retail outlets would be required to install CNG add-ons to service the growing number of CNG vehicles nationwide."

Ahmed further emphasizing that the NMDPRA is actively collaborating with stakeholders to accelerate CNG availability in line with the government's broader energy transition agenda.

Tinubu government push for CNG adoption

Vanguard reports that the Tinubu led administration have been pushing for Nigerians to embrace CNG in a bid to reduce dependence on petrol and curb fuel import costs.

President Bola Tinubu recently urged Nigerian motorists to either buy petrol at N1000 or the compressed Natural Gas (CNG) at N200.

Addressing NIPCO effort he said CNG, being a cleaner and more affordable fuel, reduces the carbon footprint and saves consumers significant fuel costs.

Tinubu said:

"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."

CNG: FG opens portal to convert cars

Earlier, Legit.ng reported that the federal government launched an application portal for Nigerians to convert their vehicles from petrol, to CNG.

The National Orientation Agency, in a statement titled “Payment Plan to Make it Easier to Switch to CNG,” announced that Nigerians can apply via the portal to convert their vehicles to CNG and spread payments through monthly instalments.

The statement noted that there are flexible payment options and assured applicants of support throughout the process with chances of quick approval.

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Source: Legit.ng