Price of CNG Crashes to N200/scm as NIPCOGas Unveils Stations in Lagos -

NIPCO GAS is about to promote the use of Compressed Natural Gas, CNG, as alternative to Premium Motor Spirit, PMS also called petrol in the commercial city of Lagos after it has announced completion of four CNG stations in Lagos.

The facilities would be opened for commercial operations by end of April to become the first of its kind in the state which is now contending with long queues at filling stations.

The managing director ,NIPCO Gas Ltd ,Nagendra Verma, briefing the media on the development at the weekend, said the firm has been involved in AutoCNG development and expansion since 2009.

Verma, who assured sustainability of supply after commissioning said presently, for Cars, Taxis and Keke’s; AutoCNG is being sold at NGN200/standard cubic feet scm against the petrol price of NGN610 per litre, in Lagos and NGN230/scm against the PMS price of NGN670/ltr in Abuja.

The managing director, further informed that similarly for heavy commercial vehicles; AutoCNG is being sold at NGN260/scm against the AGO price of NGN1250/ltr in Lagos and NGN290/scm against the AGO price of NGN1300/ltr in Abuja.

“NIPCO Gas is sure that with the continuous focus and push by the current government, AutoCNG will become the Choice fuel for Nigeria which has the potential to reduce the pressure on importation as well as on Forex.” he added.

According to him, AutoCNG is a project for masses and of National Cause and Importance, adding “We are sure once expanded across Nigeria; will surely and definitely relieve the masses and motorists from high fuel cost.

“We continuously seek blessing and support of the Government and media to make AutoCNG a Reliever, Cleaner and Greener fuel of Nigeria”

Speaking on the company’s strategy, Verma said, initially the company started with Benin City and expanded the AutoCNG network to Ibafo in Ogun State and later-on in Kogi State.

He stressed further that with the initiatives and clear mandate by the current government, AutoCNG network also expanded to Abuja FCT, Ibadan in Oyo State and Oron in Akwa Ibom State.

NIPCO Gas presently operates 15 AutoCNG stations across Nigeria and CNG vehicles from Lagos can travel up to Abuja and Kaduna by taking CNG from the in-between NIPCO Gas AutoCNG stations. We are sure, soon motorists can travel across every nook and cranny of Nigeria.

Under current government directives, NIPCO Gas has partnered with the Nigerian National Petroleum Company Limited, NNPCL for expansion of AutoCNG stations across various states of Nigeria.

“Partnering with NNPCL under directives from The Presidency brings along a huge sense of responsibility and commitment towards masses of Nigeria and Government.

“NIPCO Gas is honoured with this trust and belief by the Government and NNPCL and have assured that we will not leave any stone unturned to make this AutoCNG expansion plan a reality which will relieve thousands and millions of citizens from the pain they are going through presently.” added Verma

He also disclosed that under the current partnership, 35 AutoCNG are planned to be constructed in phased manner. He also revealed that locations for 19 CNG stations have been identified and the firm has received stage-wise approval from NMDPRA and other statutory authorities.

He said 4 CNG stations in Lagos are scheduled to be completed in April/May, 2024, adding, “For making this AutoCNG expansion project a reality, we are getting due support and guidance from all including but not limited to PCNGI, NMDPRA, SON, NNPC, other Ministries and Departments and Media too who are also keen to see this as reality in near future.”

Verma, said gas distribution and AutoCNG projects are highly capital-intensive projects which require huge investment and highest level of commitment and perseverance, and expressed hope that with support from all and with continuous push from the Presidency, the firm will surely make it happen.

He went further to state that NIPCO Gas in addition to AutoCNG is also expanding the gas transportation pipeline towards Ibadan and gas distribution network in Lekki Free Zone.

“All these projects require huge investment and a high gestation period.

Once the above projects are commissioned, it will help in greater way in deepening the utilisation of indigenous gas which still remains under-utilised and reduce dependency on importation of other fossil fuels thereby reducing the pressure on Forex.” he added.

April 14, 2024