CNG retail price increases by N150 per SCM in Lagos, Abuja

The price of compressed natural gas (CNG) has increased to N380 per standard cubic metre (SCM) for cars and buses at retail outlets in Lagos and Abuja.

The price of the commodity rose by N150 from the previous value of N230 per SCM.

At the NIPCO filling station in Ibafo, Ogun state, the new price of the product is N380 per SCM.

The product’s price is the same at the Mobil CNG station in the Apapa axis of Lagos and at a NIPCO CNG station in Abuja.

Speaking to ThCable, a NIPCO source, who did not want to be named, said the prevailing price of the commodity is N380 per SCM for cars and buses, while the lorries and heavy-duty vehicles will now pay N450 per SCM.

“The price is set by the NNPC Gas Marketing Limited (NGML) and the price which it is currently set at is N380 for motors and N450 per SCM for lorries,” he said.

“It doesn’t matter which state, whether Lagos, Ajaokuta, Benin. It is the NGML that supplies the gas to stations.

“The price was just increased without explanation. It is just not fair on motorists who spent millions. And it will keep rising like that.

“Before you know it, the price of white products will almost be the same as petroleum products. So, why did the motorists spend so much converting their vehicles?”

In October 2023, the federal government flagged off the presidential compressed natural gas initiative (PCNGI), waiving value-added tax (VAT) on CNG bus purchases.