The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says there are no subsidies in the oil and gas sector as Nigeria now operates a fully deregulated market.
Mr George Ene-Ita, Director, Public Affairs, NMDPRA, told the News Agency of Nigeria (NAN) on Friday in Abuja that recent reports on subsidy removal or price hikes in Compressed Natural Gas (CNG) were misleading.
This followed complaints over the increase in CNG pump price in Abuja from N230 to N380 per Standard Cubic Metre (SCM), which sparked long queues at refilling stations in the FCT and Lagos.
Ene-Ita explained that CNG pricing is guided by a baseline set under the Petroleum Industry Act (PIA), and any price within that framework remains legitimate.
Meanwhile, the Presidential Initiative on Compressed Natural Gas (P-CNGI) clarified that the Federal Government had not issued any directive to alter CNG prices.
It stressed that recent adjustments were purely private-sector decisions, adding that its mandate under President Bola Tinubu is to drive the growth of the CNG mobility market as a cheaper, cleaner alternative to petrol and diesel.
