Deborah Akinyosoye
The Presidential Initiative on Compressed Natural Gas (P-CNGI) says no directive or policy has been issued by the Federal Government to alter CNG pump prices nationwide.
Matilda Johnson, Brands and Corporate Communications Manager, P-CNGI, said this on Thursday in a statement made available to the News Agency of Nigeria (NAN) in Abuja.
Johnson re-echoed Federal Government’s assurance that CNG will always remain significantly cheaper, cleaner and more affordable than Premium Motor Spirit (PMS) and diesel.
The P-CNGI emphasised that the recent pump price adjustments announced by certain operators were purely private-sector decisions and not the outcome of any government directive or policy.
“The P-CNGI wishes to address recent misleading and outright false reports suggesting that the Federal Government has removed subsidies or increased the price of CNG.
“This is incorrect.
“For absolute clarity: while pricing matters fall under the purview of the appropriate regulatory agencies, no directive or policy has been issued by the Federal Government to alter CNG pump prices.
“The mandate of P-CNGI, as directed by President Bola Tinubu, is to catalyse the development of the CNG mobility market and ensure the adoption of a cheaper, cleaner and more sustainable alternative fuel and diesel nationwide.
“So far, through the collaboration and commitment of relevant government agencies, the sector has witnessed monumental
enthusiasm and growth,” she said.
According to Johnson, the progress has already attracted close to one billion dollars in private sector investment, underscoring confidence in the market’s potential.
“Our focus remains on deepening CNG penetration nationwide and encouraging broader private sector participation to ensure availability and affordability for all.”
NAN gathered that some private marketers currently dispense CNG at N380 per Standard Cubic Metre (SCM) against the earlier N230 it was sold.