Nigerians do not need to buy petrol for N750 per litre anymore as FG provides alternatives in 90 days
The Nigerian government has declared an end to the era of purchasing Premium Motor Spirit (PMS), commonly known as fuel, at prices ranging from N750 to N1000 per litre.
Within the next 90 days, they aim to introduce 30,000 vehicles powered by Compressed Natural Gas (CNG).
Michael Oluwagbemi, Project Director and CEO of the Presidential Compressed Natural Gas Initiative, made this announcement during the Park to Park CNG Mobilisation program at Ojota Park in Lagos on Saturday.
The initiative, estimated at N36 billion, encompasses the distribution of 30,000 free CNG conversion kits nationwide within the specified timeframe. Each kit and conversion is valued at N1.2 million per vehicle, totaling the allocated N36 billion over the next three months.
Oluwagbemi emphasized that the move aims to promote CNG as an alternative fuel for transportation. “Today, we are here with conversion kits.
We have bought over 30,000 of these kits, mainly for distribution in the next 90 days. The President has told us that this is not just to end with 30,000 kits, the target is one million kits. We want to make sure all of you can benefit from this government initiative,” he stated.
“The era of buying N750, N800, or N1000/liter fuel is over. We are not doing that again. We will start using the gas under our feet so that we can buy it at N230/kg,” he added.
President Bola Tinubu had previously directed all Ministries, Departments, and Agencies to procure CNG-powered vehicles as a measure to mitigate the impact of fuel subsidy removal.
