Just In: Tinubu’s CNG Initiative Promises To End Era Of Buying Fuel At ₦750 Per Liter

Just In: Tinubu’s CNG Initiative Promises To End Era Of Buying Fuel At ₦750 Per LiterThe Nigerian government has announced the end of purchasing Premium Motor Spirit (PMS) at prices between ₦750 and ₦1000 per liter. This comes as the government prepares to commission 30,000 Compressed Natural Gas (CNG) powered vehicles within the next 90 days.

During the Park to Park CNG Mobilisation program held at Ojota Park in Lagos on Saturday, Michael Oluwagbemi, the Project Director and Chief Executive Officer of the Presidential Compressed Natural Gas Initiative, revealed that the initiative would cost ₦36 billion. This budget covers the distribution of 30,000 CNG conversion kits free of charge nationwide within the next three months.

Each kit, along with the associated conversion costs, is valued at ₦1.2 million per vehicle, totalling ₦36 billion for the project. The initiative aims to promote the adoption of CNG as an alternative fuel for transportation, promising a more sustainable and cost-effective solution for the nation’s fuel needs.