The Federal Government has dismissed reports claiming it removed subsidy or approved a hike in the pump price of Compressed Natural Gas (CNG).
The rebuttal came through the Presidential Initiative on Compressed Natural Gas (PiCNG) on Thursday after a news story suggested the price rose from ₦230 to ₦450 per standard cubic metre.
“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 initiative said in a statement.
Private Operators Behind Price Changes
PiCNG explained that the recent price adjustments announced in some stations were strictly private-sector decisions, not federal directives.
It noted that President Bola Tinubu’s mandate to PiCNG is clear: to drive the adoption of CNG as a cheaper, cleaner, and sustainable alternative to petrol and diesel.
“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,” the statement added.
The agency revealed that through collaboration with relevant government bodies, the CNG sector has seen a surge in interest and investment.
Close to $1 billion has been committed by the private sector, showing confidence in the market’s long-term potential.
“Our focus remains on deepening CNG penetration nationwide and encouraging broader private sector participation to ensure availability and affordability for all,” PiCNG said.
The Federal Government reassured Nigerians that CNG will always remain more affordable and environmentally friendly than petrol and diesel.
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