Tinubu launches ambitious plan to slash fuel costs

In a groundbreaking move, President Bola Ahmed Tinubu has unveiled the Presidential Compressed Natural Gas Initiative (PCNGi), aimed at providing Nigerians with a cheaper and cleaner alternative to petrol and diesel.

The initiative makes Compressed Natural Gas (CNG) available for vehicles at N230 per litre, significantly reducing fuel costs and alleviating the pressures from fuel subsidy removal.

The PCNGi is designed to deliver wide-reaching benefits to Nigerians by cutting fuel costs, promoting energy diversification, and supporting the transport sector. To facilitate a seamless transition, President Tinubu has ordered the distribution of 1 million free CNG conversion kits to commercial vehicles over the next 18 months.

In the first phase, 10,000 free conversion kits will be distributed this week to transport operators through key national transport associations. The kits will be installed at no cost, enabling commercial drivers to switch their vehicles to run on CNG and ease the cost burdens for both transporters and the public.

The initiative is supported by PCNGi in partnership with NIPCO Gas, which will manage the conversion process through a network of authorized conversion centers across Nigeria. By embracing CNG, Nigeria is adopting a cleaner, cheaper, and more sustainable fuel alternative that benefits both the economy and the environment.

The government aims to distribute the full 1 million conversion kits by the end of 2025, ensuring that Nigeria’s commercial transport sector is fully equipped to adopt CNG and reduce dependence on costly petrol and diesel.