Amid long queues and insufficient refilling stations, the cost of one standard cubic metre of Compressed Natural Gas has jumped from N230 to N450. It was gathered from retailers that the government reviewed the price recently to N450, reducing its subsidies.

However, while trucks pay N450/SCM, car drivers and commercial drivers still enjoy some subsidies, as they pay N380 for one standard cubic metre of what the government calls a cheaper alternative to petrol and diesel.

The Programme Director of the Presidential Compressed Natural Gas Initiative, Michael Oluwagbemi, did not answer calls to his phone on Tuesday. However, an official of the PCNGI, who did not want to be mentioned because he was not authorised to speak with the press, confirmed the new development.

The source explained that commercial drivers pay less to ensure the cost of transportation does not go up. “The refuelling stations now sell at different prices for cars and trucks. So, the price depends on the type of vehicle, whether it is a commercial bus, a truck or a private car,” he said.

Asked if the type of vehicle should determine the price of CNG, he said there is a subsidy on commercial vehicles. “The price is subsidised for commercial vehicles. Trucks transporting goods pay higher prices, while private cars and buses that convey passengers buy at a reduced rate. There’s supposed to be a subsidy across the board, but this is the current situation,” the source stated.

Aside from the price, he said the major focus of the PCNGI is to ensure that there are more refilling stations across the country to reduce the long queues.

“Our main focus is to increase the availability of gas. We want to build more refuelling stations so that no converted vehicle owner will complain that it doesn’t have a place to buy CNG. Some have converted their vehicles, but when gas is not available, they will be running on petrol. So, our major drive right now is to increase the number of CNG stations nationwide,” he said.

Speaking with our correspondent, a major retailer of CNG confirmed that NNPC Gas Marketing Limited reviewed the prices. According to the retailer, who requested anonymity, the Federal Government had capped the price of CNG below its cost since 2023, when it removed petrol subsidies.

He added that the price may rise to N500 or N600/SCM soon, stating that this could be to attract investors. “I can confirm that the price for CNG was reviewed upward by NGML. Truck drivers are to pay N450/SCM, while commercial drivers will pay N380/SCM. We know that the price may go to N500 or N600 soon. The government subsidised it to attract users and it sold it to marketers at a subsidised rate,” he said.

Meanwhile, there are concerns that vehicle owners may abandon CNG if the queues persist and prices continue to rise. “Some spent up to N1.5m or more to convert their petrol-powered vehicles to CNG. Now with the price increase and the long queues, many may have to return to petrol. The government has been trying to convince the people that there is cheaper fuel. The government sold it to marketers at a reduced price. In reality, the difference between CNG and petrol is not significant.

“When you see some refuelling stations, the queues are as long as 1.5km. This is not encouraging,” Adeyemi Paul, a ride-hailing driver, told our correspondent.

Contacted, Louis Ibah, the spokesman for the Minister of Petroleum Resources (Gas), Ekperikpe Ekpo, said he was at a function with the minister and could not talk. The NNPC could not be reached, as it only announced a new spokesperson on Tuesday.

Recalls that when President Bola Tinubu announced in 2023 that the fuel subsidy was removed, the price of petrol rose from N175 per litre to N870. To cushion the effect, the Federal Government promoted CNG as a cheaper alternative fuel to petrol, incentivising Nigerians to convert their vehicles to CNG.

In June, the Federal Government said over 100,000 petrol-powered vehicles had been converted to CNG in one year, stressing that it had recorded significant progress in advancing the use of alternative fuel across the country. Oluwagbemi said that as the Federal Government ramped up efforts to cushion the effect of fuel subsidy removal, the initiative had recorded major success in the last year.

According to him, the number of CNG-powered vehicles in the country had risen from fewer than 4,000 to nearly 100,000 in just over a year. “From just seven conversion centres last year, we now have 265 centres nationwide. We’ve also created over 10,000 direct jobs and grown from 20 to 60 operational refuelling stations, with 175 more underway. So far, we have 60 CNG stations up and running—up from just 20 in late 2023. Over the next three months, we plan to commission an additional 100,” he added.

Defending the pace of implementation, Oluwagbemi stated, “Rome wasn’t built in a day. Those who led Nigeria into the fuel subsidy crisis cannot fairly criticise the speed at which we’re addressing it.” However, there are concerns that the latest rise in the price of CNG may discourage its users.

FOLLOW US ON:

FACEBOOK

TWITTER

PINTEREST

TIKTOK

YOUTUBE

LINKEDIN

TUMBLR

INSTAGRAM

The Nigerian National Petroleum Company Limited has announced the appointment of two senior executives, Mr Andy Odeh and Mrs Morenike Adewunmi, to lead its corporate communications and stakeholder relations arms.

Odeh was named Chief Corporate Communications Officer, while Adewunmi was appointed Chief Relations Officer, the company said in a statement on Tuesday.

Describing both appointees as “seasoned executives,” the national oil firm stated that the move shows its commitment to strengthening stakeholder engagement and public communication across its operations.

Odeh, a veteran communications professional, brings more than 30 years of experience spanning the oil and gas, advertising, and broadcast industries.

The statement noted that he spent 26 years at Nigeria LNG Limited, where he held several leadership positions in community relations, logistics, IT, corporate communications, public affairs, and regulatory compliance.

“At NLNG, he successfully managed the company’s rebranding and implemented one of Nigeria’s best-run micro-credit schemes for host communities,” NNPC said.

He was also credited with playing a key role in instituting the NLNG Prize for Energy Reporting.

A graduate of the University of Jos and the University of Lagos, Odeh is also an alumnus of INSEAD Business School and the National Institute for Policy and Strategic Studies, Kuru.

Adewunmi, a legal practitioner with over 25 years of experience in the oil and gas sector, joins NNPCL from the Shell Companies in Nigeria.

Her background is in stakeholder management and regulatory affairs, and she previously served as Regulatory Affairs Manager and later Government Relations Manager at Shell.

“Mrs. Adewunmi is known for her strong leadership skills, emotional intelligence, and ability to build robust stakeholder networks,” the company said. “She is a subject matter expert on non-technical risks.”

She holds a law degree from Olabisi Onabanjo University and was called to the Nigerian Bar after completing her training at the Nigerian Law School.

The company said the appointments of Odeh and Adewunmi are strategic and timely as it continues to reposition for improved public trust and effective engagement with its host communities, regulators, and international partners.

“The appointment of Mr Odeh and Mrs Adewunmi reflects NNPC Limited’s commitment to enhancing communication and engagement with stakeholders,” the statement added.

Their appointment comes a little over two months after Olufemi Soneye resigned from his position as Chief Corporate Communications Officer on June 21, 2025.

FOLLOW US ON:

FACEBOOK

TWITTER

PINTEREST

TIKTOK

YOUTUBE

LINKEDIN

TUMBLR

INSTAGRAM

The Federal Government and the Nigeria Labour Congress have resolved a dispute over workers’ pension funds following a meeting with the National Pension Commission on August 29, 2025.

The meeting, led by PENCOM Director-General Omolola Oloworaran, marked the DG’s first official interaction with the NLC since assuming office in July 2024.

The engagement followed weeks of escalating pressure from the country’s biggest labour organisation. On August 13, 2025, the NLC Central Working Committee issued a seven-day ultimatum to the Federal Government, demanding the immediate constitution of the PENCOM governing board, the return of allegedly diverted workers’ funds from the Nigeria Social Insurance Trust Fund, and a full status report on pension funds. It also warned that failure to meet these demands would trigger a nationwide strike.

The pension regulator rejected the claims of missing funds and assured that workers’ pensions were safe and secure. Earlier, its acting Director of Corporate Communications, Ibrahim Buwai, had said that the appointment of the PENCOM board is a Federal Government prerogative.

“Pension funds are the exclusive property of Nigerian workers and must be managed with utmost transparency and accountability,” NLC President Joe Ajaero said at the meeting.

The labour leader raised concerns over PENCOM functioning without a statutory board, noting that workers have the right to know how their funds are administered.

NLC mentioned the persistent challenges faced by retirees and those nearing retirement in accessing their benefits, urging PENCOM to intensify oversight of Pension Fund Administrators, enforce compliance, and impose sanctions where necessary.

In response, PENCOM DG Omolola Oloworaran called for a new chapter of engagement with the NLC. She apologised for past media disputes and for failing to visit or formally engage with the Congress upon assuming office. The executive pledged a transparent, open, and collaborative approach, promising that PENCOM would no longer address disagreements through the media but would instead establish continuous and structured dialogue with the NLC.

Oloworaran also unveiled plans to enhance public accountability through PENCOM’s dashboard, enabling real-time updates on pension matters. Going forward, PENCOM will be sending regular reports to the NLC and developing a clear framework for sustained engagement, emphasizing the importance of trust, harmony, and transparency.

The DG acknowledged the NLC’s critical role as workers’ representatives on the PENCOM board and called for their continued support to strengthen oversight of PFAs. Both parties agreed to collaborate closely on compliance and enforcement, ensuring the protection of workers’ contributions.

The resolution may also encourage broader participation in the pension scheme, as only about 40 percent of Nigerian states have currently signed on. The NLC and PENCOM concluded the meeting with a shared commitment to safeguarding workers’ pensions, improving transparency, and renewing trust, signalling a new chapter in Nigeria’s pension administration.

Recall that NLC also criticised the Nigeria Social Insurance Trust Fund for a lack of transparency, similar to past concerns with PENCOM. The union accused the government of diverting 40 per cent of funds from the Employees’ Compensation Scheme administered by NSITF into the Treasury, undermining the scheme’s role in protecting employees injured, ill, or deceased at work.

On August 16, 2025, NSITF Managing Director Oluwaseun Faleye confirmed that deductions had been made but denied diversion, explaining that withdrawals followed a Ministry of Finance directive introduced in December 2023 requiring state-owned enterprises to remit half of internally generated revenue. The Federal Government has promised to reverse the deductions, a move aimed at calming tensions with the NLC.

FOLLOW US ON:

FACEBOOK

TWITTER

PINTEREST

TIKTOK

YOUTUBE

LINKEDIN

TUMBLR

INSTAGRAM