The Federal Government has inaugurated the Compressed Natural Gas (CNG) Conversion Incentive Programme (CIP), an incentive to encourage the use of CNG by Nigerians.
The Conversion Incentive Programme provides for free conversion (labour-inclusive) of union-registered vehicles in major cities where the conversion programme has been activated in Nigeria, as well as ride-share vehicles that operate, which can benefit from a 50 per cent discount.
The inauguration was conducted by the Chief Executive Officer (CEO) and the Programme Director of the Presidential Compressed Natural Gas Initiative (P-CNGi), Michael Oluwagbemi, in Ibadan, the Oyo State capital, on Thursday.
Oluwagbemi said the incentive aimed at enabling more Nigerians to take full advantage of the initiative and the CNG revolution in the country was on course.
Oluwagbemi described CNG as a cleaner, smarter, cheaper, better, and safer fuel compared to petrol and diesel, noting that Nigeria even had an edge as it has the natural gas needed for CNG in abundance.
He added, “Nigeria as a nation has continued to pay for expensive PMS and diesel; this is not only dangerous to our health but also our finances. The better way is for us to use what we have, which is cleaner, cheaper, safer, and more reliable.
“This natural gas is everywhere across the nation. 30 out of 36 states in Nigeria have natural gas reserves. We have enough gas reserves to last us for more than 100 years, making us one of the largest gas reserve nations in the world and ranked number one in Africa.
“And to translate this gas, either for transportation, fuelling generators, or our industries, is far simpler than building a refinery.
“Dangote refinery has about 650,000 barrels of processing capacity per day, which translates to about 100 million litres of gasoline per day. This is equivalent to about 36 million vehicles.
“If you are to power 36 million CNG vehicles, you won’t need the footprint of the Dangote refinery. So, getting PMS is not only expensive but also time- and space-consuming; that is what makes PMS expensive.
“With all these natural blessings, why would Nigerians live beside the ocean and be washing their hands with shit? Why would we have this bountiful gas resource that is easier to produce, cheaper to our pocket, cleaner for our environment, safer, and not make good use of it?
“As regards petrol tanker accidents, nine out of ten lead to explosions, but in the case of CNG, one out of ten leads to explosions. CNG is eight times less explosive than diesel and 18 times less explosive than petrol.
“The initiative is aimed at cushioning the effect of fuel subsidy removal and promoting a safer, cleaner, and more reliable transportation future for Nigeria.
“The President said Nigerians should not doubt the initiative, saying they should rather give the nation the opportunity to leverage its own resources.”
Speaking further, Oluwagbemi lamented that the nation continued to depend on imported and subsidised petroleum products, thereby leaving the growth and economy of the nation in the hands of third-party nations.
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