R
Richard Ogunsile
Guest
President Bola Tinubu’s government has introduced a ‘convert now and pay later’ platform to facilitate the transition to Compressed Natural Gas (CNG) as a practical substitute for Premium Motor Spirit (PMS), better known as petrol or fuel.
Naija News understands that this new online portal will enable Nigerians to convert their petrol-fueled vehicles to CNG, with the option to defer payment for the conversion expenses.
This information was shared in a statement by the National Orientation Agency (NOA) via its official X account on Tuesday.
The government noted that this payment scheme is designed to enable drivers to undertake vehicle conversions immediately while repaying the costs in manageable monthly instalments at competitive rates.
“Switching to Compressed Natural Gas (CNG) is now more accessible than ever. With flexible payment plans tailored to fit your budget, transitioning from petrol to CNG has never been smoother or more affordable.
“These payment options allow you to convert your vehicle now and pay later with affordable monthly instalments at competitive rates.
“With an easy online application and quick approval process, you’ll receive support every step of the way to ensure a hassle-free experience,” the government stated.
The Nigerian government is expanding CNG conversion centres nationwide through the Presidential CNG initiative.
In the past six months, conversion centres have been established in the Federal Capital Territory, Abuja, as well as in Ogun, Ekiti, Nasarawa, and several other states.
The Federal Government aims to convert 1 million vehicles by the year 2027.
Officials have stated that the CNG initiative is expected to lower road transportation expenses by 40 per cent.
This initiative comes at a time when Nigerians are facing increased transportation costs, with fuel prices rising to between ₦950.22 and ₦1,100 per litre, up from ₦770.
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