Presidential Compressed Natural Gas Initiative (PCNGI) has denied claims that the federal government removed subsidies on compressed natural gas (CNG).
Gatekeepers News reports that PCNGI said that the recent pump price adjustments were decisions taken by private operators.
Earlier this week, the cost of CNG rose to N380 per standard cubic metre (SCM) for cars and buses at retail outlets in Lagos and Abuja, sparking speculation that the increase was linked to government subsidy withdrawal.
In a statement on Thursday, Matilda Johnson, PCNGI’s brands and corporate communications manager, described such claims as inaccurate.
The statement reads, “The Presidential Initiative on Compressed Natural Gas (PiCNG) wishes to address recent misleading and outright false reports suggesting that the Federal Government has removed subsidy or increased the price of Compressed Natural Gas (CNG). This is incorrect.”
Johnson clarified that price regulation does not fall under PCNGI’s mandate. She said, “For absolute clarity: while pricing matters fall under the purview of the appropriate regulatory agencies, no directive or policy has been issued by the Federal Government to alter CNG pump prices.”
The PCNGI official added 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.
She further emphasised the initiative’s role as directed by President Bola Tinubu, adding that investor confidence is growing in the sector.
Johnson said, “So far, through the collaboration and commitment of relevant government agencies, the sector has witnessed monumental enthusiasm and growth.”
“Encouragingly, this progress has already attracted close to one billion dollars in private sector investment, underscoring confidence in the market’s potential.”
She stressed that the government remains committed to affordability. “The federal government assures Nigerians that CNG will always remain significantly cheaper, cleaner, and more affordable than PMS and diesel.”
PCNGI reiterated its mission to expand nationwide adoption of CNG and strengthen private sector involvement to ensure affordability and accessibility across the country.
