By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Tinubu: Nigerians Can Choose Petrol at N1,000 Per Litre or CNG at N200
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Tinubu: Nigerians Can Choose Petrol at N1,000 Per Litre or CNG at N200

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: October 22, 2024
Share
3 Min Read
Bola Tinubu
Bola Tinubu
SHARE

President Bola Tinubu has announced that Nigerians can now choose to buy premium motor spirit (PMS), commonly known as petrol, at N1,000 per litre, or opt for compressed natural gas (CNG) at N200 per standard cubic meter.

The announcement was made during a meeting with the Nigerian Independent Petroleum Company (NIPCO) at the State House in Abuja on Tuesday.

Bayo Onanuga, special adviser to the president, in a statement on Tuesday, said Tinubu emphasized the benefits of CNG as a cost-effective alternative to petrol, while acknowledging NIPCO’s significant role in Nigeria’s energy transition.

“CNG, being a cleaner and more affordable fuel, reduces the carbon footprint and saves consumers significant fuel costs,” the statement read. “Nigerian motorists can buy petrol at N1,000 per litre or the gas equivalent per Standard Cubic Meter at N200.”

The president praised NIPCO’s contributions to the Presidential Compressed Natural Gas Initiative (PCNGI), which aims to promote CNG as an alternative fuel to petrol. He commended the company’s efforts in providing affordable CNG conversion kits and raising public awareness about the advantages of CNG.

- Advertisement -

Tinubu underscored the importance of public-private partnerships in achieving cleaner and more economical energy solutions for Nigerians, aligning with his administration’s focus on energy security and economic diversification. He also announced that his government has introduced incentives to encourage commercial motorists to convert from petrol to CNG at no cost.

“He highlighted the significance of this initiative in reducing the nation’s reliance on petrol and cutting down fuel costs for consumers,” Onanuga stated.

In response, Ramesh Kasangra, Director of NIPCO, expressed appreciation for the president’s ongoing support of the CNG sector. Kasangra also confirmed that NIPCO is prepared to invest in expanding the nation’s CNG infrastructure, making it more accessible across the country.

Kasangra emphasized that NIPCO has been a leading player in various sectors of Nigeria’s economy for over four decades, and remains committed to supporting the government’s energy goals.

President Tinubu reiterated his administration’s commitment to creating a favorable environment for private sector investment, with a focus on expanding Nigeria’s CNG infrastructure to drive energy efficiency and economic growth.

- Advertisement -

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:CNGEnergy SectorEnergy TransitionFuelNigerian MotoristsNIPCOPublic-Private Partnershipstinubu
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByMuhammad A. Aliyu
Follow:
Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article Ola Olukoyede EFCC Raises Alarm Over Cybercrime, Reveals Nigeria Lost Over $500 Million in 2022
Next Article Olusegun Obasanjo Obasanjo: It’s Unfair to Blame Only the Igbo for Attempting Secession

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Okay.ng Logo

Parallel Market Rates

USD
Buy₦1,540.00
Sell₦1,560.00
GBP
Buy₦2,148.00
Sell₦2,180.00
EUR
Buy₦1,740.00
Sell₦1,800.00

Updated: 15 hours ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

0.00
ShareShareShare

Rates are for informational purposes only.

Okay.ng Logo Parallel Market Rates
USD
Buy
Sell
GBP
Buy
Sell
EUR
Buy
Sell
| okay.ng
- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Widespread Concern in Ondo as Two Adekunle Ajasin University Students Vanish Without Trace
Education News
JAMB Registrar, Is-haq Oloyede
Nationwide Fingerprint Fraud Scandal Uncovered in JAMB CBT Centres, Imo and Anambra Lead
Education News
Senator Natasha Akpoti-Uduaghan
Senator Natasha Akpoti-Uduaghan Explains Delay in Senate Return Amid Legal Nuances
News
ADC Asserts Neutrality Amidst Political Realignments, Denies Bias in Presidential Race
Politics Top stories
Nigeria Union of Teachers
FCT Teachers to Resume as NUT Suspends Over Three-Month Strike
Education
- Advertisement -
Ad imageAd image

You May Also Like

Boladale Odunlami, Commercial Manager, Nestlé Nigeria; Olabisi Joseph, President, Nigeria School Sports Federation (NSSF); and Ifeanyichukwu Orabuche, Category Manager, Beverages, Nestlé Nigeria, pose with the triumphant Father O’Connell Science College team after they clinched the male championship title at the 25th MILO Basketball Championship held at the Indoor Sports Hall, National Stadium, Lagos.
Sport

25 Years of Impact as Nestlé’s MILO Basketball Championship Shapes Nigeria’s Future Champions

Farouk Mohammed
Farouk Mohammed
July 8, 2025
Education

New Admission Benchmarks Set to Standardise Tertiary Entry Across Nigeria

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 8, 2025
Dangote Refinery
Energy & Oil

Dangote Refinery Cuts Petrol Price Again to ₦820 Per Litre, Expands Distribution Network

Muhammad A. Aliyu
Muhammad A. Aliyu
July 8, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?