NIPCO Plc has reaffirmed its support for President Bola Tinubu’s initiatives in the petroleum industry, particularly focusing on the expansion of Nigeria’s downstream gas infrastructure.
During a recent meeting at the Aso Villa in Abuja, NIPCO’s Senior Executive, Mr Ramesh Kansagra, highlighted the company’s alignment with the Federal Government’s objective to promote Compressed Natural Gas (CNG) as a more cost-effective and environmentally friendly fuel option.
Kansagra mentioned that NIPCO recognized the potential of CNG over 15 years ago, laying the foundation for drivers to make the switch to gas.
This early vision now resonates with Tinubu’s initiatives, including the Presidential Compressed Natural Gas Initiative, which has facilitated increased availability of CNG for transportation.
Emphasizing NIPCO’s dedication to expanding its gas infrastructure, Kansagra highlighted the company’s current project of constructing a 100km gas pipeline from Lagos to Ibadan, a venture costing $100 million aimed at improving gas supply and accessibility.
He mentioned that this expansion aligns with the government’s reform objectives, creating opportunities for more drivers and industries to transition to cleaner energy options.
Kansagra commended Tinubu’s forward-looking energy policies, noting that they are in line with the global trend towards cleaner fuels and are timely for Nigeria.
He also pointed out that the government’s reforms will promote economic sustainability by reducing dependence on fossil fuels and supporting Nigeria’s environmental targets.
“Drivers can now enjoy a more cost-effective alternative to petrol, as CNG is priced at N230 per SCM compared to petrol’s N1,000 per litre,” he highlighted.
Kansagra stressed the economic advantages of this transition, as CNG is domestically produced, unlike petrol, which is presently half imported.