Nigerians are expected to pay between N300,000 and N600,000 to convert their petrol vehicles to Compressed Natural Gas, CNG, the Federal Government has revealed.
The Chief Executive Officer of the Presidential Compressed Natural Gas Initiative (P-CNGi) Steering Committee, Engr. Michael Oluwagbemi made this known in an interview with Daily Trust.
Michael Oluwagbemi spoke to the news medium after the official commissioning of CNG conversion centres and a demonstration of converted CNG vehicles in partnership with the private sector at the head office of Femadec Group, one of the partners in Lagos.
The P-CNGi CEO also revealed that the Nigerian government is planning to establish 10,000 CNG vehicle conversion workshops in the near future.
Oluwagbemi on the probable cost of conversation explained that it may range between N300,000 and N600,000, depending on exchange rate compatibility.
While maintaining that Nigeria aims to begin assembling and manufacturing CNG conversion kits, thereby creating further employment opportunities, He said:
“Currently, we are importing conversion kits, but under this initiative as a relief for Nigerians, the government is offering discounts on the immediate conversion cost and is considering flexible payment options as the committee continues to review the CNG initiative, offering more discounts and incentives.”
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