The Federal Government, on Thursday, met with transporters and stakeholders in the transportation sector in a bid to accelerate the adoption of Compressed Natural Gas and reduce the use of Premium Motor Spirit, popularly called petrol.
At the meeting in Abuja, it was revealed that it would cost between N1.2m and N1.5m for the kits required to convert the petrol or diesel-powered vehicle of a transporter to start running on CNG.
To encourage transporters to convert their vehicles, the government through the Presidential Compressed Natural Gas Initiative, declared that it would shoulder 50 per of this cost, which is between N600,000 and N750,000 per transporter.
President Bola Tinubu established the Presidential Compressed Natural Gas Initiative after declaring on May 29, 2023, that PMS “subsidy is gone!”
The P-CNGI has since been tasked to deepen the use of CNG nationwide, based on the country’s abundant gas reserves. Speaking at the meeting in Abuja, organised by P-CNGI and Portland Gas Limited in partnership with the National Agency for Science and Engineering Infrastructure, the Programme Director, P-CNGI, Michael Oluwagbemi, called for sustainable transportation through CNG adoption.
