As the Federal Government steps up its Compressed Natural Gas adoption in the country, the Presidential CNG Initiative says plans have been concluded to roll out 5,000 CNG-powered tricycles over the next three months.
The Programme Director and Chief Executive, P-CNGi, Michael Oluwagbemi, said this on Thursday at the inauguration of the Luojia Tricycle Assembly plant in Ogun State.
The government has continued to galvanise resources towards a mass adoption of CNG in the country.
Oluwagbemi said government had introduced several incentives, including Value Added Tax exemptions and Custom duty waivers for CNG-powered tricycles and other vehicles entering the country.
The government, he said, had also mandated all Ministries, Departments, and Agencies to purchase only CNG-powered vehicles moving forward.
The, move, according to programme director, will drive the adoption of cleaner energy solutions across the country.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority is providing CNG at a concessionary price, offering more than a 40 per cent discount on the current price.
“The 5,000 tricycles form part of the initial units acquired by the government under the Presidential CNG Initiative, which aims to enhance affordable and eco-friendly transportation across Nigeria and to mitigate the impact of fuel subsidy removal,” Oluwagbemi said.
According to the P-CNGi chief executive, the new Luojia assembly plant will help create jobs and boost economic growth.
Oluwagbemi said the government was working with tricycle organisations to identify potential beneficiaries under a loan scheme.
