Nigeria is going to reduce the importation of Premium Motor Spirit, popularly called petrol, by about $4.4bn annually by adopting the use of Compressed Natural Gas, the Federal Government announced on Tuesday.
It announced this through the Presidential Compressed Natural Gas Initiative, adding that the target of government was to convert one million diesel and petrol-powered vehicles to start running on CNG.
This, according to the Coordinator, Regulations, Compliance and Facilitation, PCNGI, Zayyan Tambari , would save the country about $4.4bn annually on the importation of PMS into Nigeria.
Tambari disclosed this in a presentation at the Co-Creation Session on Nigeria Gas Vehicle Monitoring System in Abuja, as he also revealed that the target of the Federal Government was to replace 20 per cent of the current 50 million litres of petrol consumed daily across the country with CNG.
Recall that on Thursday, newsmen reported that the Federal Government had commenced the roll out of CNG-powered buses and tricycles.
The Special Adviser to the President on Information and Strategy, Bayo Onanuga, had told our correspondent that the Federal Government kicked-started the deployment in Ilorin, Kwara State.
“There was a launch in Ilorin Kwara State by Governor Abdulrahman Abdulrazak. Ilorin launch was a refueling and conversion centre. CNG buses and tricycles were also unveiled. The CNG vehicle assemblers have begun the roll out, beginning from Ilorin.
“The inauguration started with a conversion centre before they unveiled some CNG buses and tricycles. They have not given a date for Abuja. But the process started today,” Onanuga had explained.
Meanwhile at the co-creation session in Abuja on Tuesday, the PCNGI stated that about $890m investment would be required to develop infrastructure for the alternative fuel.
Also at the event, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, who was represented by Abel Nsa, said the government would ensure that Nigeria reaps the full benefits of its gas resources.
