FG to launch CNG initiative before May 29, private sector invests $50m

The federal government says it will launch the compressed natural gas initiative ahead of the first anniversary of the President Bola Tinubu administration on May 29.With requisite tax and duty waivers approved by Tinubu in December 2023, the federal government said “the PCNGI committee is partnering with the private sector to deliver the promise on the initiative”.

The federal government said the deployment of CNG buses and tricycles, along with a goal of one million natural gas-powered vehicles by 2027, will significantly transition the transportation industry, reducing the use of expensive diesel and petrol.countries like India, China, Iran, Pakistan, Brazil, Argentina, and Italy are adopting natural gas-powered vehicles to reduce pollution, adding that studies indicate petrol and diesel engines are primary contributors to pollution.

“The electric vehicles it will produce are meant for states such as Kano and Borno, which do not have access to CNG for now. They will also be available in key Nigerian cities and university campuses.” “The NNPC Limited which had launched an on-and-off CNG initiative in the past is joining the new initiative. It is expected soon to announce the locations for CNG refilling and CNG conversion centres nationwide.

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