By Patrick Idowu
The Federal Government, through the Presidential Compressed Natural Gas (P-CNG) Initiative, is set to launch a financing scheme that will enable private car owners to convert their petrol-powered vehicles to Compressed Natural Gas (CNG), with a structured payment plan.
Programme Director and Chief Executive of P-CNG, Michael Oluwagbemi, disclosed this in Lagos during a sensitization exercise at commercial bus parks.
He emphasized that the financing scheme aims to make CNG conversion accessible to more Nigerians, aligning with the administration’s goal of transitioning one million vehicles to CNG within three years.
As part of the broader campaign, Oluwagbemi revealed that the government is currently facilitating the free conversion of 10,000 commercial buses in Lagos and Abuja within the next 10 weeks.
This initiative is expected to significantly reduce transportation costs and promote cleaner energy use in the country.
Additionally, the recent commissioning of the Portland Gas CNG Mobile Refill Units in Ojota, Lagos, marks a key milestone in ensuring easy refueling for CNG-powered vehicles.
Oluwagbemi reaffirmed the government’s commitment to making CNG adoption seamless, stressing that it would cut operating costs for transporters by up to 90%, ultimately benefiting the wider population.
He encouraged private car owners to take advantage of the upcoming financing scheme, which will allow gradual repayment for conversions, ensuring affordability and wider adoption of CNG technology.
