'Seun Ibukun-Oni, Abuja
DAILY COURIER — In a significant show of support for the nation's energy transition, President Bola Tinubu met with executives from NIPCO at the State House on October 22, 2024, praising their pivotal investments in the Compressed Natural Gas (CNG) sector.
During the meeting, President Tinubu recognized NIPCO’s integral role in the Presidential Compressed Natural Gas Initiative (PCNGI), which aims to shift Nigeria's energy reliance towards cleaner alternatives. He commended the company for its commitment to enhancing the adoption of CNG as an alternative fuel, highlighting the alignment of these efforts with his administration’s broader energy security and economic diversification strategies.
“Nigeria’s motorists can buy petrol at N1,000 per litre, while equivalent gas costs only N200 per Standard Cubic Meter,” President Tinubu pointed out. He emphasized the financial advantages of transitioning to CNG, noting the government's introduction of incentives for commercial motorists to convert from petrol to gas at no cost.
The President highlighted the environmental benefits of CNG, stating that it not only reduces the carbon footprint but also significantly lowers fuel costs for consumers. He acknowledged NIPCO's role in promoting the “Switch to CNG” campaign, which has successfully increased public awareness and facilitated access to affordable CNG conversion kits, even prior to the formal launch of the PCNGI.
In his remarks, President Tinubu stressed the importance of public-private partnerships in driving the transition to cleaner energy solutions. He reaffirmed his administration's commitment to creating a conducive environment for private sector investments and expanding the CNG infrastructure across Nigeria, which is crucial for enhancing energy efficiency and fostering economic growth.
Mr. Ramesh Kasangra, a director at NIPCO, expressed gratitude to President Tinubu for his unwavering support of the CNG sector. He assured the President of NIPCO’s dedication to furthering its partnership with the government and investing in the necessary infrastructure to make CNG more accessible throughout the country.
Kasangra reiterated NIPCO’s long-standing presence and commitment in Nigeria, stating that the company has been a key player in various sectors for over four decades and will continue to invest in the nation’s future.
The meeting underscores a strategic alignment between the government and the private sector in Nigeria's quest for a sustainable energy landscape, with a shared vision of reducing reliance on traditional fuels and promoting a cleaner, more affordable energy source for all Nigerians.