The Federal Government has announced a substantial investment of N36 billion to convert 30,000 petrol and diesel-powered vehicles to Compressed Natural Gas (CNG) within the next 90 days. This initiative is part of a broader strategy to promote alternative fuel usage and reduce transportation costs.
Michael Oluwagbemi, Project Director and Chief Executive Officer of the Presidential Compressed Natural Gas Initiative (PCNGi), revealed that the government has procured 30,000 CNG conversion kits for nationwide distribution at no cost to vehicle owners. Each kit, valued at approximately N1.2 million, will be provided free of charge, totaling an investment of N36 billion.
Oluwagbemi emphasized that President Bola Tinubu is dedicated to addressing rising transportation costs and essential goods prices by promoting CNG. The plan includes distributing up to one million CNG kits to commercial drivers across the country as part of a comprehensive palliative measure.
The government is also establishing CNG stations to offer gas at competitive rates, significantly lower than current fuel prices. Additionally, 150 drivers in selected locations will receive vouchers for free vehicle conversions at designated workshops.
This initiative marks a significant step towards sustainable and affordable fuel options, aiming to lessen the dependency on costly petrol and diesel.
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