The Presidential Initiative on Compressed Natural Gas (PiCNG) has clarified Federal Government has removed subsidy or increased the price o f Compressed Natural Gas (CNG), as erroneously reported.
Brands and Corporate Communications Manager, PiCNG, Matilda Johnson, who stated this in a statement made available on Thursday, said the clarification was necessary to address recent misleading and outright false reports suggesting that the otherwise.
“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,” Johnson noted.
She explained that the mandate of PiCNG, as directed by President Bola Ahmed Tinubu, is to catalyze the development of the CNG mobility market and ensure the adoption of a cheaper, cleaner, and more sustainable alternative to Premium Motor Spirit (PMS) and diesel across the country.
She affirmed that so far, through the collaboration and commitment of relevant government agencies, the sector has witnessed monumental enthusiasm and growth.
According to her, this progress has already attracted close to one billion dollars in private sector investment, underscoring confidence in the market’s potential.
She emphasized that the recent pump price adjustments announced by certain operators are purely private-sector
decisions and not the outcome of any government directive or policy.
The Federal Government assures Nigerians that CNG would always remain significantly cheaper, cleaner, and more affordable than PMS and diesel.
“Our focus remains on deepening CNG penetration nationwide and encouraging broader private sector participation to ensure availability and affordability for all,” PiCNG noted in the statement.
