Politics · Other · 2 hrs ago

Nigeria says 120,000 vehicles have switched to compressed natural gas

Nigeria says 120,000 vehicles have switched to compressed natural gas

Nigeria’s government says more than 120,000 vehicles have been converted to run on compressed natural gas under its CNG and Electric Vehicle Initiative.

Information Minister Mohammed Idris said the programme has attracted about $2.5 billion in private investment and around N250 billion in government funding and commitments.

The initiative followed the removal of the petrol subsidy in May 2023, which contributed to higher transport costs.

The government promotes CNG as a cheaper alternative to petrol, especially for commercial transport.

But conversion can cost between N750,000 and N2.5 million, and some drivers have faced too few refuelling stations, queues and lost working hours.

The programme has more than 400 certified conversion centres and over 90 refuelling stations, with another 180 stations in development.

The government says it aims to lower transport costs and create jobs, though the minister acknowledged that many households still face cost-of-living pressures.

What people are saying

The macroeconomic numbers have turned the corner, and I would ask that we always look at what they mean beyond the headlines
Mohammed IdrisNigeria’s Minister of Information and National Orientationvia Premium Times
Our commitment is to ensure that stronger economic indicators translate into more jobs, more productive businesses, more affordable essential services and greater purchasing power for Nigerian families
Mohammed IdrisNigeria’s Minister of Information and National Orientationvia Premium Times

Sources

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