CNG expected to remain cheaper than petrol, LPG

The Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi-CNG & EV) has assured Nigerians that Compressed Natural Gas (CNG) is expected to remain cheaper than petrol and Liquefied Petroleum Gas (LPG), despite concerns over possible price increases.

The initiative’s Chief Operating Officer, Tosin Coker, gave the assurance while speaking with journalists at the end of the Decade of Gas and Pi-CNG & EV Media Parley held in Kano on Thursday.

Coker explained that Nigeria’s abundant natural gas reserves give the country greater control over domestic CNG supply and pricing, unlike petrol, whose prices are significantly influenced by international market developments.

He noted that geopolitical tensions and conflicts, particularly in the Middle East, could drive up global petrol and LPG prices. According to him, recent tensions involving Iran have contributed to rising fuel costs, while LPG prices remain closely linked to trends in the international petroleum market.

The Pi-CNG & EV official expressed optimism that CNG prices could decline further in the coming years as adoption increases and more filling stations and suppliers enter the market. He added that greater competition would help sustain affordability and urged Nigerians not to assume that CNG prices would rise in line with petrol and LPG.

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