With petrol and diesel prices soaring, many Nigerians are turning to Compressed Natural Gas (CNG) for cost savings, not actually for cleaner fuel if you ask me. But just how much does CNG cost today in Nigeria?
Let’s go through the latest figures and what they mean for Nigeria vehicle owners and businesses.
Official CNG Price Structure, What It Says?
The Federal Government, through the Presidential CNG Initiative (PCNGI), has set the official CNG price at ₦230 per kilogram. This pricing policy is aimed at making CNG a cheaper and safer alternative to petrol, especially for commercial transport operators.
Market Realities - What People Are Paying
Despite the government's ₦230/kg benchmark, actual prices in the field are different widely due to local supply dynamics and infrastructure gaps. Reports from industry analysts estimate the cost of CNG ranges from ₦230 (if you are lucky) to ₦450 per kilogram.
There are unverified online discussions mentioning prices as high as ₦400 per kilogram, although these may reflect isolated cases.
What This Means in Practice
For a typical sedan requiring 10 kg of CNG, here’s a quick cost comparison:
| Scenario | Price per kg | Cost for 10 kg |
|---|---|---|
| • Government rate | ₦230 | ₦2,300 |
• Higher market rate |
₦450 | ₦4,500 |
Even at ₦450, CNG remains far lower than petrol. Using CNG instead of petrol that costs over ₦1,000 per litre still offers 40–60% fuel savings, making it affordable and practical for many users.
CNG is currently priced at ₦230 per kilogram under government regulation, but we all know that what the federal government says, are totally different from what they do. Market prices may rise to ₦450 per kilogram in some areas. Even then, it's still significantly cheaper than petrol, putting real savings in the pocket of drivers and business owners. Your choice!