The federal government has dismissed reports that it directed operators in the Compressed Natural Gas (CNG) sector to increase pump prices, saying recent adjustments were decisions taken solely by private operators.
In a statement issued Thursday in Abuja, the Presidential Initiative on Compressed Natural Gas (PICNG) said its mandate is to drive the adoption of CNG as a cheaper, cleaner, and more sustainable alternative to petrol and diesel. The statement was signed by the initiative’s Brand and Corporate Communications Manager, Matilda Johnson.
CNG, introduced by the government after fuel subsidy removal as an alternative to Premium Motor Spirit (PMS), has in recent weeks risen from about N230 per Standard Cubic Metre (SCM) to between N380 and N450, depending on location and vehicle type. Operators attribute the increase to rising operational costs and the need to attract investment into infrastructure such as conversion centres and refuelling stations.
“Contrary to misleading reports, the federal government has neither removed subsidy on CNG nor directed any price increase,” the PICNG stated. “Pricing matters fall under regulatory agencies, and no directive has been issued to alter CNG pump prices.”
The initiative noted that close to $1 billion in private sector investment has already flowed into the sector through public-private partnerships, underscoring market confidence despite challenges. It stressed that recent price changes were private-sector decisions and not the result of any government policy.
The PICNG assured Nigerians that CNG remains significantly cheaper and cleaner than petrol or diesel, adding that efforts are ongoing to deepen its adoption and ensure nationwide availability.
