Nigerian Govt Allocates N100bn For National CNG, Electric Vehicle Deployment

In a move toward a sustainable and cost-effective transportation future, the Presidential Compressed Natural Gas (CNG) Initiative announced the allocation of N100 billion for the proliferation of CNG buses across Nigeria.

The initiative, outlined in a statement released on Wednesday, detailed plans to revolutionize mass transit and transportation through the adoption of auto-gas and electric vehicles.

According to the statement, the fund will play a pivotal role in catalysing an Auto-gas and Electric Vehicle (EV) revolution, aiming to deploy over 11,500 CNG and electric-powered vehicles while distributing 55,000 conversion kits.

READ ALSO: Finance Minister Advocates CNG Adoption To Halve Petrol Costs

The objective is to reduce transportation costs for Nigerians and address the escalating cost of living.

Speaking on behalf of the initiative, a representative emphasized the commitment to realizing the President’s vision. They affirmed, “The Presidential CNG Initiative is resolutely focused on these objectives, evident from recent milestones achieved, including strategic technical partnerships and the establishment of multiple CNG conversion centres across key states like Lagos, Abuja, Kaduna, Ogun, and Rivers.”

Highlighting the initiative’s dedication, the statement reiterated the leadership’s assurance in steering the program without distractions.

The steering committee, spearheaded by FIRS Chairman Zacch Adedeji and his colleagues, remains steadfast in delivering on the Renewed Hope Agenda.

“We are delighted to reassure Nigerians that the program is on course to deliver on these objectives,” the statement affirmed.

The initiative’s efforts signify a step towards a greener, more sustainable transportation landscape, promising far-reaching benefits for citizens soon.

Emmanuel Ochayi

+ postsBio

Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.

• Emmanuel Ochayi

  https://www.primebusiness.africa/author/ochayi/

  Five Ways Fintech Users Can Protect Themselves From Growing Online Fraud
• Emmanuel Ochayi

  https://www.primebusiness.africa/author/ochayi/

  Nigeria’s Stock Market Rises As Investors Target Undervalued Shares
• Emmanuel Ochayi

  https://www.primebusiness.africa/author/ochayi/

  Six Things To Know About FG’s New Mortgage Scheme For Middle, Low-Income Earners
• Emmanuel Ochayi

  https://www.primebusiness.africa/author/ochayi/

  Five Ways Dangote Crude Deal Suspension Could Affect Fuel Prices In Nigeria