Federal Government Clarifies No Subsidy on Compressed Natural Gas Amid Price Hikes
The Presidential Compressed Natural Gas Initiative has clarified that the federal government does not subsidize CNG prices. Recent pump price increases by private operators are based on market forces, not government intervention. The Initiative said pricing is set by private companies and regulated by the Nigerian Midstream and Downstream Petroleum Regulatory Authority. It assured consumers that the government will protect them against exploitation while working to ensure steady supply and price stability in the sector.
