… reaffirm commitment to CNG investments in support of energy transition
Oredola Adeola
A high-level delegation from Nigeria’s downstream petroleum sector, including CEOs of Matrix Energy, AYM Shafa Ltd, and A.A. Rano, met with Mr. Wale Edun, Minister of Finance and Coordinating Minister of the Economy, focusing on strategies to boost local fuel supply and stabilise the exchange rate, intending to lower pump prices amid growing market competition.
This formed the crux of discussions during Friday’s meeting between Mr. Wale Edun and the delegation, led by Engr. Abdulkabir Adisa Aliu, CEO of Matrix Energy, and comprising Mr. Yakubu Maishanu of AYM Shafa Ltd and Alhaji Auwalu Abdullahi Rano of A.A. Rano.
The Ministry affirmed that the three companies collectively supply nearly 20 million litres of petrol daily across Nigeria at no cost to the government.
Wale Edun commended the delegation for its leadership, resilience, and key role in ensuring national energy security.
He reaffirmed the federal government’s commitment to fostering a stable and attractive policy environment that supports private investment and inclusive economic growth, in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
According to a statement released by the Ministry, the discussions highlighted the visible economic gains from recent policy actions, particularly the transition away from petrol subsidies, enhanced local supply, improved exchange rate stability, and reduced pump prices.
The Ministry commended the three companies for being testament to the strength and efficiency of private sector-led distribution.
The statement from the Ministry emphasised that the engagement marks another step forward in strengthening public-private partnerships toward building a resilient, competitive, and future-ready energy sector for Nigeria.
The delegation jointly reaffirmed its commitment to market stability, increased private investment, and ongoing support for the federal government’s energy reform agenda.
They also applauded the Federal Government for its supportive policy direction and stressed the importance of maintaining policy clarity to enhance investor confidence and ensure the continued efficiency of market operations.
The team also reiterated its strong commitment to scaling up investment in Compressed Natural Gas (CNG) infrastructure, in alignment with Nigeria’s energy transition goals.
