The Federal Government has disclosed the anticipated costs for Nigerians seeking to convert their petrol vehicles to run on Compressed Natural Gas (CNG), estimating that the conversion could range between N300,000 and N600,000.
This announcement came from Engr. Michael Oluwagbemi, the Chief Executive Officer of the Presidential Compressed Natural Gas Initiative (P-CNGi) Steering Committee, during an interview with Daily Trust.
The revelation follows the official commissioning of CNG conversion centers and a demonstration of converted CNG vehicles, carried out in collaboration with the private sector at the head office of Femadec Group in Lagos.
How government will kickstart CNG conversion workshop nationwide
One of the significant highlights of this initiative is the government’s plan to establish 10,000 CNG conversion workshops nationwide shortly. Additionally, Nigeria is gearing up to commence the assembly and manufacturing of CNG conversion kits within the country. Engr. Oluwagbemi emphasized that this move would not only promote self-sufficiency but also create valuable employment opportunities.
While discussing the benefits of this transition, Engr. Oluwagbemi revealed, “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.”
The effect of CNG conversion on the economy
Furthermore, the CEO of P-CNGi highlighted that the Federal Government’s commitment to transitioning to CNG-powered vehicles is expected to attract investments exceeding $2 billion into the Nigerian economy. This ambitious initiative holds the potential to generate over 250,000 employment opportunities for professionals nationwide.
The move towards petrol-to-CNG conversion aligns with the government’s broader goals of promoting cleaner and more sustainable energy solutions, reducing greenhouse gas emissions, and fostering economic growth through the development of the domestic CNG industry.
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