The Federal Government of Nigeria has not issued any directive to alter the prices of Compressed Natural Gas (CNG) nationwide, according to the Presidential Initiative on Compressed Natural Gas (P-CNGI). Matilda Johnson, Brands and Corporate Communications Manager at P-CNGI, clarified this in a statement, emphasizing that the recent adjustments in CNG pump prices announced by certain operators were purely private-sector decisions.

The P-CNGI reassured that CNG will remain significantly cheaper, cleaner, and more affordable than Premium Motor Spirit (PMS) and diesel. The initiative’s mandate, as directed by President Bola Tinubu, is to promote the development of the CNG mobility market and encourage the adoption of a more sustainable alternative fuel nationwide.

Johnson stated that no policy or directive has been issued by the Federal Government to change CNG pump prices, which fall under the purview of regulatory agencies. The P-CNGI has collaborated with relevant government agencies to catalyze the growth of the CNG sector, attracting nearly $1 billion in private sector investment.

Despite the progress, some private marketers have increased the price of CNG to N380 per Standard Cubic Metre (SCM), up from the previous price of N230. The P-CNGI remains focused on expanding CNG penetration nationwide and encouraging broader private sector participation to ensure availability and affordability for all.

The development of the CNG market is significant, given the government’s efforts to promote a cleaner and more sustainable alternative to traditional fuels. As the sector continues to grow, it is likely to attract more investment and attention from stakeholders. The P-CNGI’s reassurance on pricing is expected to mitigate concerns and reinforce the government’s commitment to promoting the adoption of CNG nationwide.