NYCN Applauds Tinubu’s 100,000 CNG Kits Deployment, Urges Crude Allocation to Dangote, Modular Refineries to Cushion Energy Shock
The leadership of the National Youth Council of Nigeria (NYCN), under the presidency of Babangida Onimisi Isah, has commended the proactive decision of the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, Bola Ahmed Tinubu, to order the nationwide deployment of 100,000 Compressed Natural Gas (CNG) conversion kits as part of efforts to cushion the rising cost of transportation and reduce dependence on petrol.
The Council described the strategic intervention as timely, noting that it demonstrates the administration’s commitment to addressing the economic pressures currently facing Nigerians following global disruptions triggered by the ongoing tensions and conflicts in the Middle East. According to the NYCN, the initiative to accelerate the transition to CNG-powered vehicles is a bold step toward reducing transportation costs, promoting energy diversification, and supporting sustainable economic resilience.
However, the NYCN noted that the conflict in the Middle East continues to exert significant pressure on global energy markets, with ripple effects being felt across many economies, including Nigeria. Despite being a crude oil producing nation, the Council observed that Nigeria remains vulnerable to global market shocks due to its dependence on the importation of refined petroleum products.
The Council stated that the geopolitical instability has already begun to manifest in several economic challenges affecting Nigerians. These include rising petrol prices and transportation costs which directly affect daily mobility and productivity. It also highlighted the increase in the cost of goods and services, particularly essential commodities, as well as inflationary pressure on food items which is affecting the purchasing power of ordinary citizens. The Council further noted that higher logistics costs for businesses are leading to increased market prices, while growing economic anxiety among young Nigerians persists as many struggle with unemployment and reduced economic opportunities.
With the approaching Eidil Fitri and Easter festive periods, the Council expressed concern that the prices of staple food items and other basic commodities may rise sharply, placing additional burdens on Nigerian households.
While commending the CNG initiative, the NYCN respectfully recommended additional interventions by the Federal Government to further cushion the impact of the global energy shock and stabilize the domestic economy. The Council suggested that considering Nigeria currently enjoys profitable crude oil sales in the global market, the government may introduce a temporary subsidy or support framework on fuel importation to moderate pump prices and reduce transportation costs during the period of global instability.
The NYCN also urged the Federal Government to allocate more crude oil to domestic refineries, particularly the Dangote Refinery, as well as other modular refineries, in order to boost local refining capacity and ensure cheaper and more stable fuel availability for Nigerians. In addition, the Council recommended that the deployment of 100,000 CNG conversion kits should be expanded to include youth transport operators, commercial drivers, logistics companies and student transport systems in order to accelerate adoption and significantly reduce transportation costs nationwide.@all
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