Business News of Wednesday, 14 May 2025

Source: www.legit.ng

NNPC releases locations of filling stations to buy fuel priced at N200

The Nigerian National Petroleum Company (NNPC) Limited has announced the locations of its following stations selling Compressed Natural Gas (CNG) in Lagos and Abuja.

In a message released on X, the national oil company said the initiative is part of its broader drive to promote cleaner energy and reduce the cost of transportation for Nigerians.

The NNPC says that, beyond affordability, CNG offers long-term savings on vehicle maintenance and enhances engine life.

The statement reads:

“Hello Lagos, drive cleaner and cheaper!” the NNPC said in a promotional message.

“Visit any of our CNG-powered stations to experience a reliable, eco-friendly alternative to PMS, saving you money while reducing emissions.

What to know about CNG?

CNG is a fuel gas under pressure that remains clear, odourless and non-corrosive, an alternative to petrol.

According to Nagendra Verma, the managing director of NIPCO Gas, AutoGas for cars, taxis and tricycles is being sold at about N200 per standard cubic foot, while for heavy commercial vehicles, CNG is sold at N260 per standard cubic meter (SCM).

The CNG option provides commercial transport operators, companies and vehicle owners looking to cut down on fuel expenses amid high PMS prices.

According to the NNPC, motorists in Lagos can now access premium CNG fuel at the following retail outlets:

Lagos Locations:

1. Fola Agoro

2. Amuwo Odofin

3. Marina Agege By Pass

4. Lakowe

5. Odogunyan

Abuja Locations:

1. Gaduwa

2. Olusegun Obasanjo Way

3. Gudu

4. Dei Dei

5. Gwagwalada

6. Ushafa

FG pushes for more CNG adoption

There has been a push by the Federal Government for the wider adoption of Compressed Natural Gas (CNG) under the Presidential CNG Initiative (PCNGI).

The move is part of efforts to reduce Nigeria’s dependence on imported fuel and lower transportation costs for citizens following the removal of fuel subsidies.

In August 2023, President Bola Tinubu approved the establishment of the PCNGI. The government stated its intention to ensure that about one million vehicles run on CNG.

Recently, the Programme Director and Chief Executive of PCNGI, Michael Oluwagbemi, announced a reduction in transportation fares for passengers using CNG-powered vehicles in Abuja.

The new fares, which represent a 40% decrease from previous rates, were agreed upon through a collaboration between the PCNGI and the National Union of Road Transport Workers (NURTW).

He said: “I am here to announce to you that here in Area 1 as of today, Area 1 Park in conjunction with the leadership of National Union of Road Transport Workers, we have come here to start enforcing the price reduction."