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The Presidential Initiative on Compressed Natural Gas and Electric Vehicle (PI-CNG&EV) has reiterated that there is no course to fear rise in the price of CNG across Nigeria.
This was made known to newsmen in Kano by the Chief Operating Officer PI-CNG&EV, Tosin Coker, who spoke during a Media Parley on Thursday.
Coker stated that CNG is in abundance in Nigeria and is also locally priced, unlike petrol that goes with international pricing and is affected by geopolitical factors.
“People should not fear that the price of CNG would go up and go up in par with the price of petrol. The reason for that is that CNG is natural gas. Natural gas is something that we have in abundance and we control the pricing of as a nation. Petrol or oil prices are determined internationally. So geopolitical tention affects the price of petrol.
“That’s what we are saying, since the crises in Iran happened the price has gone up. Similarly the price of LPG has gone up. LPG follows the price of petrol because it is liquified petroleum gas as oppose to liquified natural gas or compressed natural gas.
“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 stated.
He added that in the near future Nigerians will embrace the the CNG and competition will bring down the price the more.
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