Feyisayo Oyebanji, Abuja
The Presidential Compressed Natural Gas Initiative, PiCNG, says the recent pump price adjustments announced by certain operators are solely private sector decisions and not the outcome of any government directive.
A statement signed by the Brands and Corporate Communications Manager of PiCNG, Matilda Johnson said that for absolute clarity, while pricing matters fall under the purview of the appropriate regulatory agencies, no directive or policy had been issued by the Federal Government to alter CNG pump prices.
It emphasized 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.
The statement reiterated that the mandate of PiCNG, as directed by President Bola Ahmed Tinubu, is to catalyze the development of the CNG mobility market and ensure the adoption of a cheaper, cleaner, and more sustainable alternative to Premium Motor Spirit PMS and diesel across the country.
It said, so far, through the collaboration and commitment of relevant government agencies, the sector had witnessed monumental enthusiasm and growth, adding that this progress had already attracted close to one billion dollars in private sector investments, underscoring confidence in the market’s potential.
“The federal government assures Nigerians that CNG will always remain significantly cheaper, cleaner, and more affordable than PMS and diesel while they continue to focus on deepening CNG penetration nationwide and, encouraging broader private sector participation to ensure availability and affordability for all,” the statement said.