PCNGI Reacts To ‘Increase in Compressed Natural Gas Price’

The Presidential Compressed Natural Gas Initiative (PCNGI) has reacted to rumours surrounding alleged ease in CNG pump prices from N230 per Standard Cubic Metre (SCM).

It has refuted assertions that the increase was as a result of decisions by private operators, and not a directive from the Federal Government.

It made the clarifications through a statement in Abuja by Matilda Johnson, Brands and Corporate Communications Manager at PCNGI.

IT described as misleading and false, allegations that the government had removed subsidies or ordered price increases;  stating instead that CNG remains significantly cheaper, cleaner, and more sustainable than Premium Motor Spirit (PMS) and diesel.

According to the statement, the relative cheaper price of compressed natural gas, is in line with President Bola Tinubu’s directive to promote the CNG mobility market.

“The Presidential Initiative on Compressed Natural Gas (P-CNGI) says no directive or policy has been issued by the Federal Government to alter CNG pump prices nationwide.

Instead, the recent pump price adjustments announced by certain operators were purely private-sector decisions and not the outcome of any government directive or policy, it stated.

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The Federal Government remains committed to its role of ensure CNG adoption as an affordable alternative fuel, leaving pricing to regulatory agencies.

According to Johnson, there is evident increasing interest in the compressed natural gas sector in the country, with nearly $1 billion in private investment already attracted.

What was left, she added, is to deepen CNG penetration nationwide and encouraging wider private sector participation to make the fuel accessible and affordable.