Tinubu Rejects Fuel Subsidy, Promotes CNG as Alternative Fuel

President Bola Ahmed Tinubu has firmly stated that his administration will not reinstate the fuel subsidy regime, despite calls from opposition leaders, including former Vice-President Atiku Abubakar, for its restoration. Tinubu emphasized that returning to fuel importation would strain public resources and reiterated his commitment to promoting Compressed Natural Gas (CNG) as a viable alternative to petrol.

He acknowledged the global energy situation's impact on fuel prices but asserted that Nigeria, as a gas-rich nation, could mitigate its exposure. To support this initiative, Tinubu announced the formation of an implementation committee for the National Affordable CNG Transit Programme, chaired by Governor AbdulRahman AbdulRazaq, which will collaborate with various stakeholders to enhance CNG infrastructure and reduce transportation costs.

Tinubu noted that over the past three years, his administration has invested in building a CNG transportation ecosystem, resulting in the conversion of more than 120,000 vehicles and the establishment of over 400 certified conversion centers and 90 CNG refueling stations across Nigeria.