By John Ikani
The Federal Government of Nigeria says the cost for Nigerians looking to convert their petrol vehicles to Compressed Natural Gas (CNG), would be from N300,000 to N600,000.
CEO of the Presidential Compressed Natural Gas Initiative (P-CNGi) Steering Committee, Engr. Michael Oluwagbemi, made this known in an interview with local media Daily Trust.
The revelation coincided with the official commissioning of CNG conversion centres and a showcase of converted vehicles at the Femadec Group’s head office in Lagos, one of the partnering private sectors.
In the interview, Oluwagbemi outlined the government’s plan to establish 10,000 CNG conversion workshops nationwide.
In addition, he disclosed the upcoming local assembly and manufacturing of CNG conversion kits, a move expected to generate employment opportunities.
“Currently, we are importing conversion kits, but under this initiative, as a relief for Nigerians, the government is offering discounts on the immediate conversion cost and is considering flexible payment options as the committee continues to review the CNG initiative, offering more discounts and incentives,” he stated.
The P-CNGi CEO emphasized that the Federal Government’s shift toward CNG-powered vehicles is poised to attract investments exceeding $2 billion into the Nigerian economy.
Oluwagbemi further highlighted the initiative’s potential to create over 250,000 job opportunities for diverse professionals across the country.
What you should know
The Nigerian government’s decision to remove fuel subsidies has led to a surge in the price of gasoline, making compressed natural gas (CNG) vehicles a more attractive option for consumers.
CNG is a cleaner and more affordable fuel than gasoline, and it is also supported by the government, which is offering incentives to encourage the use of CNG vehicles.
There are a number of factors that are contributing to the shift towards CNG vehicles in Nigeria.
First, the rising cost of fuel smuggling is making it more difficult and expensive to obtain smuggled fuel.
Second, Nigerians are becoming more aware of the environmental benefits of CNG.
Third, the increasing availability of CNG refuelling stations is making it easier for consumers to use CNG vehicles.
The shift towards CNG vehicles is a positive development for Nigeria. CNG is a more sustainable and affordable fuel than gasoline, and it is also environmentally friendly. The government’s support for CNG vehicles is also commendable.