The Nigerian government has announced that it will commission 30,000 Compressed Natural Gas (CNG) powered vehicles in the next 90 days, marking an end to the high costs of Premium Motor Spirit (PMS), commonly known as fuel, which ranged between N750 to N1000 per liter.
Michael Oluwagbemi, the Project Director and CEO of the Presidential Compressed Natural Gas Initiative, revealed this during the Park to Park CNG Mobilisation program at Ojota Park in Lagos on Saturday.
The initiative, expected to cost N36 billion, will provide 30,000 CNG conversion kits for free across the country, with each kit and conversion valued at N1.2 million per vehicle.
This initiative aims to promote the adoption of CNG as an alternative fuel for transportation, thereby reducing fuel costs.
“Today, we are here with conversion kits. We have bought over 30,000 of these kits, mainly for distribution in the next 90 days.”
“The President has told us that this is not just to end with 30,000 kits, the target is one million kits. We want to make sure all of you can benefit from this government initiative,” he stated.
“The era of buying N750, N800, or N1,000/liter fuel is over. We are not doing that again. We will start using the gas under our feet so that we can buy it at N230/kg,” he stated.
Recall that President Bola Tinubu had ordered all Ministries, Departments and Agencies to procure CNG-powered vehicles as palliative to ease the impact of fuel subsidy removal.
