PCNGI Distances FG From Hike In Prices Of CNG, Accuses Private Investors
The Federal Government has said it did not increase the price of Compressed Natural Gas.
It explained that the recent hikes were introduced by private investors.
The Presidential Compressed Natural Gas Initiative’s Brands and Corporate Communications Manager, Matilda Johnson, made this known in a press statement on Thursday.
PCNGI said, “It must also be emphasised 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.”
They described the reports which attributed the upward review of prices on the PCNGI as misleading.
The statement reads in part, “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 o f Compressed Natural Gas (CNG). This is incorrect.
“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 mandate of PiCNG, as directed by President Bola Ahmed Tinubu, is to catalyse 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.”
The PCNGI statement further read, “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.
“The federal government assures Nigerians that CNG will always remain significantly cheaper, cleaner, and more affordable than PMS and diesel. Our focus remains on deepening CNG penetration nationwide and encouraging broader private sector participation to ensure availability and affordability for all.”
On Wednesday, September 3, 2025, PUNCH Online reported that amid long queues and insufficient refilling stations, the cost of one standard cubic metre of Compressed Natural Gas has jumped from N230 to N450.
Our correspondent gathered from retailers that the government reviewed the price recently to N450, reducing its subsidies.
However, while trucks pay N450/SCM, car drivers and commercial drivers still enjoy some subsidies, as they pay N380 for one standard cubic metre of what the government calls a cheaper alternative to petrol and diesel.
The Programme Director of the Presidential Compressed Natural Gas Initiative, Michael Oluwagbemi, did not answer calls to his phone on Tuesday. However, an official of the PCNGI, who did not want to be mentioned because he was not authorised to speak with the press, confirmed the new development.
