{"id":61571,"date":"2025-02-19T17:16:00","date_gmt":"2025-02-19T17:16:00","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=61571"},"modified":"2025-02-20T03:53:28","modified_gmt":"2025-02-20T03:53:28","slug":"cng-fg-unveils-groundbreaking-incentives","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/02\/19\/cng-fg-unveils-groundbreaking-incentives\/","title":{"rendered":"CNG: FG Unveils Incentives"},"content":{"rendered":"

By Ade Iyamoye\u00a0<\/strong><\/p>\n

The Federal Government of Nigeria, in collaboration with the Presidential Compressed Natural Gas Initiative (PCNGI), has launched a series of bold incentives to accelerate the adoption of Compressed Natural Gas (CNG), in the country.<\/p>\n

These measures aim to remove obstacles for businesses, investors, and innovators while positioning CNG as a cleaner and more affordable alternative to traditional fuels.<\/p>\n

One of the most significant policy shifts is the exemption of Value Added Tax (VAT) and import duties on all CNG equipment and machinery.<\/p>\n

This tax relief is expected to encourage local and international investment in the sector, reducing costs and increasing accessibility.<\/p>\n

In addition, the government has mandated that all Ministries, Departments, and Agencies (MDAs), procure only CNG-powered vehicles, ensuring a nationwide transition to cleaner transportation.<\/p>\n

To eliminate bureaucratic delays, the National Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has introduced a fast-tracked licensing process, making approvals swift and efficient.<\/p>\n

A dedicated project approval desk has also been established at the Midstream and Downstream Gas Infrastructure Fund (MDGIF), to provide tailored support for businesses venturing into the CNG space.<\/p>\n

In a move to make CNG even more attractive, the government has introduced preferential pricing, setting the cost at $1.50 per million standard cubic feet (mmscf), making it a more cost-effective alternative to petrol and diesel.<\/p>\n

Furthermore, the Conversion Incentive Programme has been launched, supporting the conversion of one million commercial vehicles from petrol to CNG, a move set to drastically cut fuel costs and carbon emissions.<\/p>\n

With these transformative policies, Nigeria is taking a decisive step toward a cleaner and more sustainable energy future.<\/p>\n

The time to invest in CNG is now, as the nation embraces a new era of energy efficiency and economic growth.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Ade Iyamoye\u00a0 The Federal Government of Nigeria, in collaboration with the Presidential Compressed Natural Gas Initiative (PCNGI), has launched a series of bold incentives to accelerate the adoption of Compressed Natural Gas (CNG), in the country. These measures aim to remove obstacles for businesses, investors, and innovators while positioning CNG as a cleaner and […]<\/p>\n","protected":false},"author":32,"featured_media":61572,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[59],"class_list":["post-61571","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/61571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=61571"}],"version-history":[{"count":2,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/61571\/revisions"}],"predecessor-version":[{"id":61589,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/61571\/revisions\/61589"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/61572"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=61571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=61571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=61571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}