By Patrick Idowu
The Nigeria Customs Service (NCS) will spend N20 billion on the procurement of compressed natural gas (CNG) vehicles this year, according to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
Speaking after the Federal Executive Council (FEC) meeting on Monday, Edun also disclosed that NCS has earmarked N1 billion for life insurance financing, to be managed by underwriters and brokers.
“In addition, customs, which chair their board, presented proposals amounting to N20 billion for critical projects, including the purchase of CNG vehicles, construction, and furnishing of facilities, particularly forward bases in remote areas,” Edun said.
He further noted that the life insurance financing would ensure the implementation of policies to safeguard officers.
The decision aligns with FEC’s May 13, 2024 directive that all new government-procured vehicles, generators, or tricycles must be powered by CNG, solar, or electricity.
The directive impacted requests by the NCS and the Shippers’ Council, both of which initially sought approval for petrol-powered operational vehicles but were granted approval on the condition that they use CNG.
