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Private sector drives CNG pump price changes, not FG

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From Adanna Nnamani, Abuja

The Presidential Initiative on Compressed Natural Gas (PiCNG) has clarified that recent pump price adjustments by some operators were purely private-sector decisions and not directives of the Federal Government.

In a statement signed by its Brands and Corporate Communications Manager, Matilda Johnson, on Thursday, PiCNG dismissed reports suggesting that the government had removed subsidies or increased the price of Compressed Natural Gas (CNG), describing them as “misleading and outright false.”

Johnson explained that the mandate of PiCNG, as directed by President Bola Ahmed Tinubu, is to catalyse the development of the CNG mobility market and drive the adoption of a cheaper, cleaner, and more sustainable alternative to Premium Motor Spirit (PMS) and diesel nationwide.

She noted that through collaboration with relevant government agencies, the CNG sector had already attracted nearly one billion dollars in private-sector investment, underscoring growing confidence in its potential.

According to her, while pricing matters fall under the purview of regulatory agencies, the Federal Government has not issued any directive to alter CNG pump prices.

“For absolute clarity: while pricing matters legs 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 mandate of PiCNG, as directed by President Bola Ahmed Tinubu, is to catalyse 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.

“So far, through the collaboration and commitment of relevant government agencies, the sector has witnessed monumental enthusiasm and growth. Encouragingly, this progress has already attracted close to one billion dollars in private sector investment, underscoring confidence in the market’s potential.

“It must also be emphasised that the recent pump price adjustments announced by certain operators are purely private-sector decisions and not the outcome of any government directive or_sector.

The Federal Government assures Nigerians that CNG will 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,” the statement read.



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