The Federal Government on Thursday distanced itself from the recent surge in the cost of Compressed Natural Gas (CNG), insisting that the adjustments were the decisions of private sector operators.
In a press release by the Brands and Corporate Communications Manager of the Presidential Compressed Natural Gas Initiative (PCNGI), Matilda Johnson, while addressing the ongoing public concern, stressed that the government had not introduced any policy to increase CNG prices.
“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 policy,” Johnson stated.
The PCNGI described as misleading the reports suggesting that the government was behind the recent hike, or that it had withdrawn subsidies on CNG.
“The Presidential Initiative on Compressed Natural Gas (PiCNG) wishes to address recent misleading and outright false reports suggesting that the Federal Government has removed subsidy or increased the price
of Compressed Natural Gas (CNG). This is incorrect,” the statement said.Clarifying further, the initiative noted that pricing matters fall under the jurisdiction of the appropriate regulatory bodies, but emphasised that the Federal Government had not issued any directive to alter the cost of CNG at the pump.
“For absolute clarity: while pricing matters 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 PCNGI reiterated that its core mandate, as instructed by President Bola Ahmed Tinubu, is to drive the growth of the CNG market in Nigeria and promote it as a more economical and environmentally friendly alternative to petrol and diesel.
“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 fuel and diesel”
