News Update
More worries for Nigerians as prices of Compressed Natural Gas have increased across filling stations in the country.
Taofeek Lawal, the spokesperson of NIPCO, a Nigerian petroleum products marketer, confirmed this to DAILY POST in an interview on Wednesday.
CNG price increased to N380 and N450 per standard cubic meter for commercial vehicles and heavy-duty trucks from N230 and N320.
This means the price of CNG rose by 65.22 percent or N150 per SCM for commercial vehicles, and trucks increased by 40.63 percent or N130 per SCM.
The price hike cuts across CNG stations in Nigeria, including the Nigerian National Petroleum Company Limited, Greenfield, AYM Shafa, and NIPCO.
CNG marketers give reason for hike
According to Lawal, the increase is for investors in CNG stations to be able to meet with their running cost.
He explained that the former CNG pricing was not commercially viable.
“The price increase applies to all CNG stations in Nigeria. If you visit AYM Shafa, Greenville, or NNPCL stations, the adjustment applies to all CNG stations.
“It is just to be able to meet the operational cost of running and maintaining CNG stations. Also, the move was to stimulate investment in CNG stations. The former rate of N230 and N320 is not economically viable. We now sell CNG at N380 per Standard Cubic Meter. NNPCL sells for N380, Greenville sells for N380 in Kaduna. For truck drivers, it is N450, and for commercial vehicles, it is N380 per SCM”, he told Newsmen.
Meanwhile, the price of fuel had remained stable for over a week between N865 and N910 per litre in Lagos and Abuja.
Recall that upon fuel subsidy removal in 2023, the federal government unveiled the CNG initiative to cushion its impact on Nigerians.
As of June 2025, the Nigerian government, through the Presidential Compressed Natural Gas Initiative (PCNGI), has said the country has 65 CNG stations nationwide.