CNG initiative to cut petrol import spendings by $4.4bn annually–FG

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Nigeria’s government is launching a Compressed Natural Gas (CNG) initiative to reduce reliance on expensive petrol imports and promote cleaner energy. This program is expected to save the country $4.4 billion annually, replacing 20% of the daily petrol consumption (50 million liters).

The initiative includes developing CNG infrastructure with an estimated investment of $890 million. To ensure safety and quality, the government will implement a monitoring system alongside the Standards Organization of Nigeria, Federal Road Safety Corps, and National Automotive Design and Development Council.

Only vehicles converted at accredited centers with approved kits will be able to purchase CNG. This aims to prevent the use of substandard conversions that could compromise safety.

Source: Business Day

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