The Presidential Initiative on Compressed Natural Gas and Electric Vehicle (PI-CNG&EV) has reiterated that there isn’t any course to worry rise within the value of CNG throughout Nigeria.
This was made identified to newsmen in Kano by the Chief Operating Officer PI-CNG&EV, Tosin Coker, who spoke throughout a Media Parley on Thursday.
Coker acknowledged that CNG is in abundance in Nigeria and can also be regionally priced, not like petrol that goes with worldwide pricing and is affected by geopolitical components.
“People mustn’t worry that the value of CNG would go up and go up in par with the value of petrol. The cause for that’s that CNG is pure gasoline. Natural gasoline is one thing that we now have in abundance and we management the pricing of as a nation. Petrol or oil costs are decided internationally. So geopolitical tention impacts the value of petrol.
“That’s what we’re saying, because the crises in Iran occurred the value has gone up. Similarly the value of LPG has gone up. LPG follows the value of petrol as a result of it’s liquified petroleum gasoline as oppose to liquified pure gasoline or compressed pure gasoline.
“In years to come, in everywhere, with CNG everywhere, there is no reason why the price should go up. If anything, it should even come down because there is more competition,” he acknowledged.
He added that within the close to future Nigerians will embrace the the CNG and competitors will deliver down the value the extra.
