The Federal Government will spend N36bn to convert 30,000 vehicles to run on CNG in the next 90 days, providing free kits to reduce transport and food costs.
EKO HOT BLOG reports that the Federal Government will spend an estimated N36bn to convert 30,000 petrol or diesel-powered vehicles to run on Compressed Natural Gas (CNG) within the next 90 days.
This initiative involves the nationwide distribution of 30,000 CNG conversion kits, valued at N1.2m per vehicle, provided free of charge.
The Project Director and CEO of the Presidential Compressed Natural Gas Initiative (PCNGi), Michael Oluwagbemi, announced this during the Park to Park CNG Mobilisation programme held at Ojota Park in Lagos on Saturday. He stated that this move aims to promote the adoption of CNG as an alternative fuel for transportation.
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Oluwagbemi emphasized that President Bola Tinubu is committed to ensuring transporters switch to CNG to replace the high-cost petrol and diesel, thereby reducing transportation expenses and, consequently, the rising cost of food items. The President plans to distribute one million CNG kits to commercial drivers across Nigeria as part of this palliative measure.
“Today, we are here with conversion kits. We have bought over 30,000 of these kits for distribution in the next 90 days. This will ensure that commercial transport workers can benefit directly from the Federal Government’s palliative measures. For this reason, we are here in Lagos, and Ogun, Ekiti, Osun, and Oyo states are also participating with us,” Oluwagbemi said.
“We will all benefit from this immediate palliative. The President has told us that this is not just to end with 30,000 kits, the target is one million kits. We want to make sure all of you can benefit from this government initiative,” he stated.
Oluwagbemi announced that the government was building more CNG stations where drivers could buy the commodity at below N250/kg
“The era of buying N750, N800, or N1,000/litre fuel is over. We are not doing that again. We will start using the gas under our feet so that we can buy it at N230/kg,” he stated.
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He added that no fewer than 150 drivers would get vouchers to have their vehicles converted free of charge by any of the 14 workshops selected in Lagos.
The Special Adviser to Lagos State Governor on Transportation, Sola Giwa, expressed optimism that the conversion to CNG would bring down the cost of transportation by 50 per cent.
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