The Federal Government says it is targeting to convert one million vehicles to Compressed Natural Gas, (CNG) by 2027.
The Strategic Business Execution Adviser, Presidential Initiative on CNG programme, Babajide Awolowo, said this during a forum organized by the Kogi State Government in collaboration with Automotive Gas Nigeria Services Limited, (AUTOGAS Nigeria in lokoja on Monday.
The Strategic Business Execution Adviser, Presidential Initiative on CNG Programme told the forum with the theme “during sustainable energy: the future of CNG in Kogi State” that between December 2023 and May 2024, the Tinubu administration has been able to mobilize $50 million directly to the CNG sector.
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The presidential aide explained that introduction of petroleum subsidy in 1977 has contributed to years of budget deficits, significant leakages, and has encouraged corruption, with negative impacts on the economy.
Governor Usman Ododo said in a message to the forum that his administration remains committed to making Kogi State the hub of CNG infrastructure in the country.
The Managing Director and the Chief Executive Officer of Automated Gas Nigeria Service Limited, (AUTOGAS) Maryam Ibrahim including other stakeholders commended the Kogi State Government for its commitment to the Programme and expressed optimism that CNG will create a conducive life for all Nigerians.
Nigeria is expected to save about $2.5 billion yearly from every one million vehicles powered by CNG.
(Editor: Ena Agbanoma)
