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President Bola Tinubu has announced that Nigerian motorists can now choose between buying fuel at N1,000 per liter or opting for the more affordable Compressed Natural Gas (CNG) at N200 per Standard Cubic Meter. The president made this announcement during a meeting with executives of the Nigerian Independent Petroleum Company, NIPCO, at the State House
Buy petrol at N1,000 per litre or CNG at N200 per meter – Tinubu tells Nigerians
President Bola Tinubu has announced that Nigerian motorists can now choose between buying fuel at N1,000 per liter or opting for the more affordable Compressed Natural Gas (CNG) at N200 per Standard Cubic Meter.
The president made this announcement during a meeting with executives of the Nigerian Independent Petroleum Company, NIPCO, at the State House in Abuja, on Tuesday.
“Nigeria’s motorists can buy petrol at N1,000 per litre or equivalent gas per Standard Cubic Meter at N200.
“We have also introduced incentives for commercial motorists to convert from petrol to gas” free of cost,” Bayo Onanuga, Presidential spokesman, quoted Tinubu to have said.
During the meeting, Tinubu acknowledged NIPCO’s role as a critical player in enhancing the adoption of CNG as an alternative fuel.
He also emphasized he significance of the adoption of CNG in reducing the nation’s reliance on petrol and cutting down fuel costs for consumers.
Buy petrol at N1,000 per litre or CNG at N200 per meter – Tinubu tells Nigerians
A political analyst, Basil Abia, has said that the projections of the 2025 budget proposal presented by President Bola Tinubu at the National Assembly are unrealistic. DAILY POST recalls that President Tinubu, in his presentation to a joint session of the National Assembly on Wednesday, said the budget aims to bring down inflation from its
2025 budget projections unrealistic – Analyst, Abia
A political analyst, Basil Abia, has said that the projections of the 2025 budget proposal presented by President Bola Tinubu at the National Assembly are unrealistic.
DAILY POST recalls that President Tinubu, in his presentation to a joint session of the National Assembly on Wednesday, said the budget aims to bring down inflation from its current 34.6 per cent to 15 per cent next year.
Speaking on Channels Television’s Politics Today a few hours after Tinubu’s budget presentation, Abia said that it was impossible to reduce inflation to 15 per cent next year when crude oil production is below two million barrels per day.
“The projections are not realistic and the most important thing I think Nigerians should understand is what are the assumptions driving those projections.
“Now, if you say you want to do 15 per cent headline inflation rate on aggregate for 2025, the core drivers, you have to be able to show us that you are going to realistically drop down those drivers, reduce their efficacy, and their frequency.
“Unfortunately, you cannot have a 15 per cent headline inflation rate when you are producing less than two million barrels per day.
“Now, I know they are projecting two million barrels per day, but it is impossible to do when you are currently producing 1.5 million barrels per day,” Abia said.
According to the President, the exchange rate will improve from approximately N1,700 per dollar to N1,500.
Highlights of the N49.7 trillion budget showed that N4.91tn goes into defence and security; N4.06tn will be injected into health, while N2.4tn goes into education.
2025 budget projections unrealistic – Analyst, Abia