Nigerian Govt Unveils N300,000 To N600,000 Conversion Cost For CNG-enabled Vehicles

The Nigerian government has taken a step in its commitment to promote the adoption of eco-friendly transportation by unveiling the anticipated conversion costs for enabling vehicles to run on Compressed Natural Gas (CNG). Ranging between N300,000 to N600,000, this initiative aims to incentivize the transition towards CNG-enabled vehicles across the country.

This was disclosed by the Chief Executive Officer of the Presidential Compressed Natural Gas Initiative (P-CNGi) Steering Committee, Engr. Michael Oluwagbemi.

“This initiative aims to provide relief for Nigerians by offering discounts on immediate conversion costs and exploring flexible payment options,” stated Oluwagbemi during an interview with Daily Trust. “We are importing conversion kits presently, but we plan to soon assemble and manufacture these kits within the country, opening up avenues for employment.”

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The revelation came following the official commissioning of CNG conversion centers and a demonstration of converted CNG vehicles, in collaboration with private sector partners at Femadec Group’s headquarters in Lagos.

Additionally, the government plans to establish 10,000 CNG conversion workshops across the nation shortly. Oluwagbemi emphasized that this initiative is expected to attract investments, projecting over $2 billion into Nigeria’s economy.

Highlighting the employment potential, Oluwagbemi pointed out, “This transition to CNG-powered vehicles has the potential to create more than 250,000 job opportunities for various professionals nationwide.”

The government’s commitment to providing incentives, and discounts, and enhancing the CNG initiative signals a concerted effort to ease the financial burden on citizens while fostering economic growth and employment generation.