The Federal Government of Nigeria is seeking a $2.5 billion investment from the private sector to achieve its goal of converting one million vehicles to CNG by 2027.
The initiative aims to mitigate the impact on Nigerians from the phasing out of fuel subsidy.
– CNG is a more environmentally-friendly and economically-viable alternative to traditional petrol and diesel.
The Federal Government approved an import duty waiver for CNG vehicles as well as CNG kits.
– CNG vehicles are 40-70% cheaper than petrol vehicles.
CNG vehicles are safer than petrol/diesel vehicles.
