Weather Report
22.09℃
Friday, May 3
“The PCNGI calls on all stakeholders in the sector to take full advantage of this concessionary pricing model for Mobility CNG, and recommit themselves to the future of a gas driven transportation sector that lowers food and energy inflation, while ensuring a cleaner, cheaper, safer and more reliable energy for powering the economy forward in line with the vision of President Bola Ahmed Tinubu.” Recall that in May last year, President Bola Tinubuannouncedplans to roll out CNG buses to cushion the impact of fuel subsidy removal.
The statement reads: “The Presidential Committee on Compressed Natural Gas led by Zacch Adedeji had initially requested for strategic gas allocation for Mobility focused Compressed Natural Gas projects, in a form of pricing concession.
Oluwagbemi said this will grant access for CNG to Gas-Based Industry (GBI) pricing categorisation for an initial period of five years, and renewable for another five years, in line with the provisions of the Petroleum Industry Act (PIA) 2021..
Read Full Story
