The Nigerian government has made a bold declaration: the era of exorbitant fuel prices is over.
Michael Oluwagbemi, Project Director and CEO of the Presidential Compressed Natural Gas (CNG) Initiative, announced that the government is committed to introducing 30,000 CNG-fueled vehicles within 90 days, signaling a significant shift towards a more affordable and sustainable transportation solution.
At the Park to Park CNG Mobilisation program in Lagos, Oluwagbemi revealed that the government has procured 30,000 CNG conversion kits, valued at N1.2 million per vehicle, totaling N36 billion. This ambitious initiative aims to make CNG a viable alternative to fuel transportation, with the ultimate goal of reaching one million kits.
The benefits of CNG are substantial, with prices expected to drop to N230/kg, a far cry from the exploitative prices of N750 to N1000 per litre that Nigerians have been forced to endure.
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This move is a clear demonstration of the government’s commitment to easing the burden of fuel subsidy removal and promoting a more sustainable energy solution.
President Bola Tinubu has also issued a directive to all Ministries, Departments, and Agencies to procure CNG-powered vehicles, further emphasizing the government’s dedication to this initiative.
As the country transitions towards a CNG-powered future, Nigerians can look forward to a more affordable and environmentally friendly transportation option.
