The Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi-CNG & EV) has assured Nigerians that Compressed Natural Gas (CNG) is expected to remain an affordable alternative to petrol and Liquefied Petroleum Gas (LPG), despite fluctuations in global energy prices.
The Chief Operating Officer of Pi-CNG & EV, Mr Tosin Coker, gave the assurance during an interview with journalists at the end of the Decade of Gas and Pi-CNG & EV Media Parley in Kano.
Coker said Nigeria’s abundant natural gas reserves and greater control over domestic supply could help shield CNG prices from some international market pressures affecting other fuels.
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He urged Nigerians not to assume that CNG prices would rise in line with petrol and LPG, noting that the country’s gas resources provided an opportunity to sustain a more affordable domestic fuel alternative.
“Nigeria has abundant natural gas resources, and that gives us greater control over the supply and pricing of CNG within the country,” Coker said.
He explained that geopolitical tensions, particularly in the Middle East, could disrupt global energy markets and contribute to rising petroleum product prices.
Coker cited the crisis involving Iran as one of the factors contributing to recent fuel price increases, adding that LPG prices could also be affected by international petroleum market trends.
However, he said CNG operated under different market dynamics because Nigeria had significant natural gas resources.
“CNG is different because we have the resource in abundance locally. This gives us an opportunity to manage its supply and pricing in a way that supports affordability for Nigerians,” he said.
The Pi-CNG & EV chief operating officer expressed optimism that CNG prices could decline further in the coming years as adoption increased and more operators entered the market.
He said expanding infrastructure, including refuelling stations and distribution networks, would improve access to the fuel and encourage competition among suppliers.
According to him, increased private-sector investment and participation by service providers could help create a more competitive market, potentially resulting in better prices and wider access for consumers.
Coker urged motorists and transport operators to consider CNG as an alternative fuel amid concerns over the cost of conventional petroleum products.
He said the initiative remained committed to expanding CNG availability nationwide to enable more Nigerians to benefit from the alternative energy source.
The Presidential Initiative on Compressed Natural Gas and Electric Vehicles is part of efforts to promote alternative transportation fuels and more affordable energy options in Nigeria.
Through the promotion of CNG-powered vehicles and electric mobility, the initiative seeks to encourage alternatives to conventional petrol-powered transportation.
While CNG is being promoted as an option for motorists and commercial transport operators seeking to reduce fuel expenses, electric vehicles offer another means of reducing dependence on conventional petroleum fuels.
Expanding supporting infrastructure remains critical to wider adoption, particularly in areas where refuelling and charging facilities are limited.
Coker maintained that Nigeria’s natural gas resources presented an opportunity to develop a more affordable domestic fuel market and reduce exposure to some external pressures affecting conventional petroleum products.
He said the initiative would continue to support wider access to CNG and electric vehicles, expressing confidence that increased adoption and market participation would strengthen the availability of alternative energy solutions.
