The Managing Director of NIPCO Gas Limited, Mr. Nagendra Verma, announced the completion of four Compressed Natural Gas (CNG) stations in Lagos, scheduled for inauguration next month. Verma emphasized the significance of CNG as a viable alternative fuel during a press briefing in Lagos. He praised the Federal Government's efforts in promoting gas as an alternative fuel and reaffirmed NIPCO's commitment to supporting this initiative.
Verma highlighted the company's extensive involvement in AutoCNG development since 2009 and its partnership with the Nigerian National Petroleum Company Limited (NNPCL) to construct 35 AutoCNG stations in phases. He stated that the completion of these CNG stations in Lagos is a significant milestone, offering motorists an alternative to petrol, especially amidst long queues at filling stations.
The NIPCO boss emphasized the competitive rates of AutoCNG compared to traditional fuels and expressed confidence in its potential, particularly with government support and media advocacy. He revealed that the company has identified 19 CNG stations and received stage-wise approval from the Nigerian National Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and other relevant authorities.
Verma assured consumers of sustainable supply after the inauguration, stating that AutoCNG is sold at N200 per standard cubic feet (scm) for cars, taxis, and three-wheel vehicles (Keke NAPEP/Marwa). This is in contrast to petrol prices of N610 per litre in Lagos and N230 per scm compared to the PMS price of N670 per litre in Abuja.
