Federal Government Denies Involvement in Recent CNG Price Increases

The Federal Government has clarified that it did not authorize any increase in the price of Compressed Natural Gas (CNG). This statement comes in response to recent price adjustments observed at various CNG stations across the country.

According to the Presidential Compressed Natural Gas Initiative (PCNGI), the changes were independently implemented by private investors and do not reflect any new government policy or directive. Matilda Johnson, Brands and Corporate Communications Manager for PCNGI, emphasized this point in a press release issued on Thursday.

“The recent pump price adjustments announced by certain operators are purely private-sector decisions and not the outcome of any government directive or policy,” the Initiative stated.

PCNGI also addressed what it termed “misleading” media reports that attributed the price review to the government, describing such claims as incorrect. The release further clarified that although pricing falls under the jurisdiction of relevant regulatory agencies, no federal directive has been issued to alter CNG prices.

Reiterating its commitment to promoting CNG as a cheaper, cleaner, and sustainable alternative to Premium Motor Spirit (PMS) and diesel, PCNGI highlighted significant growth and nearly one billion dollars in private investments attracted to the sector so far.

The Federal Government reassured Nigerians that CNG will remain a more affordable and environmentally friendly option, underscoring its continued focus on expanding CNG availability and encouraging private sector participation to enhance nationwide accessibility.