CNG Prices Expected to Remain Stable as Adoption Grows in Nigeria

The Chief Operating Officer of the Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi-CNG & EV), Tosin Coker, has assured Nigerians that the price of Compressed Natural Gas (CNG) is not likely to rise like petrol and Liquefied Petroleum Gas (LPG) prices. He spoke during a media event in Kano.

Coker believes that Nigeria’s large natural gas reserves will help keep CNG prices stable. Unlike petrol and LPG, which are influenced by global market changes, CNG pricing is more controllable within the country. He noted that tensions in the Middle East have recently pushed up petrol prices, but CNG should not follow that trend.

According to Coker, as more refuelling stations open and competition increases, CNG prices could even drop. He encouraged Nigerians to consider CNG as a transportation fuel, saying it could lower travel costs and enhance energy security.

The media event, organized by the Decade of Gas Secretariat and Pi-CNG & EV, aimed to improve coverage of Nigeria’s gas sector. It included about 27 journalists from various media outlets and was the first such engagement in Kano.

Taofeek Balogun from the Decade of Gas Secretariat shared that Nigeria’s proven gas reserves have grown significantly, and gas production has also increased. He mentioned that several major gas projects have attracted substantial investments, contributing to the development of the gas infrastructure.

Currently, 670 CNG buses are in operation across Nigeria, with many routes seeing fare reductions. Plans are underway to set up more CNG refuelling stations to make access easier for users. Kano State is leading the way in the North with the highest number of operational CNG stations.

Journalists attending the event praised the initiative for its informative nature and called for more training and collaboration to enhance reporting on the gas sector.