The PCNGI said nary directive oregon argumentation has been issued by the national authorities to change CNG pump prices.
The Presidential Compressed Natural Gas Initiative (PCNGI) has dismissed a study suggesting that the national authorities removed subsidy oregon accrued prices connected Compressed Natural Gas (CNG) successful the country.
The PCNGI Brands and Corporate Communications Manager, Matilda Johnson, successful a connection connected Thursday, made this known successful absorption to a study alleging that the outgo of 1 modular cubic metre of CNG jumped from N230 to N450 arsenic the national authorities withdrew its subsidy.
In her statement, Ms Johnson said the assertion is “incorrect” arsenic nary directive oregon argumentation has been issued by the national authorities to change CNG pump prices.
She added that the caller pump terms adjustments announced by definite operators are purely private-sector decisions and not the result of immoderate authorities directive oregon policy.
“No subsidy removal, nary FG terms increase,” the connection said, adding that “For implicit clarity: portion pricing matters autumn nether the purview of the due regulatory agencies, nary directive oregon argumentation has been issued by the national authorities to change CNG pump prices.”
It explained that the mandate of PiCNG, arsenic directed by President Bola Tinubu, is to catalyse the improvement of the CNG mobility marketplace and guarantee the adoption of a cheaper, cleaner, and much sustainable alternate to petrol and diesel crossed the country.
So far, the connection said, done the collaboration and committedness of applicable authorities agencies, the assemblage has witnessed monumental enthusiasm and growth.
The connection said the advancement has already attracted “close to $1 cardinal successful backstage assemblage investment”, underscoring assurance successful the market’s potential.
“It indispensable besides beryllium emphasised that the caller pump terms adjustments announced by definite operators are purely private-sector decisions and not the result of immoderate authorities directive oregon policy.
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“The national authorities assures Nigerians that CNG volition ever stay importantly cheaper, cleaner, and much affordable than PMS and diesel.
“Our absorption remains connected deepening CNG penetration nationwide and encouraging broader backstage assemblage information to guarantee availability and affordability for all,” Ms Johnson said.
In August 2023, President Bola Tinubu approved the constitution of the Presidential Compressed Natural Gas Initiative (PCNGI).
The constitution of the inaugural was successful furtherance of his committedness to easing the interaction of substance subsidy removal connected Nigerians by reducing vigor costs.
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