The Federal Government has stated that it is working on conversion incentives for Compressed Natural Gas (CNG) vehicles in the country.
Programme Director, Presidential CNG Initiative Michael Oluwagbemi stated this on Wednesday in Ilorin while fielding questions from journalists at the Presidential Initiative on Compressed Natural Gas (PI-CNG) stakeholders engagement meeting for North Central and Southwest, adding that he would announce the incentives on May 29.
Engr Oluwagbemi put the current conversion cost at between N300,000 and N750,000, adding that President Ahmed Bola Tinubu had made it clear that he intends to sustain and enable the conversion of one million vehicles by 2027.
Said he: “The programme will be saving between 2.5 and 3.5 million Dollars in a year, getting us off almost ten million litres of petrol from what we are currently using.
“In addition, once Federal Government is able to provide CNG conversion kits and CNG conversion for commercial vehicles to move at nights there will be no reason to renege on fuel subsidy removal and ensure that Nigerians do not pay for the importation of poverty.”
Also speaking, former national president of National Union of Road Transport Workers (NURTW) Alhaji Najeem Yasin urged all transport associations and unions in the country to key into the initiative, while commending the President for the good initiative at this crucial times.
“The initiative will assist in reducing transportation problems in Nigeria. I call on all transport associations to key into the project,” Yasin said.
Members of RTEAN, NARTO and others in attendance threw their weight behind the project.
One of the partners, Chief Executive Officer Rolling Energy Mubarak Danbata represented by Chief Operating Officers Uzzy Ajeroh promised to set up conversion and filing stations across the country to allay the fears of transporters and other vehicle owners.
Participants were drawn from Ekiti, Kwara, Kogi, Osun and Ondo states.
They all hailed the FG initiative.
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