The Federal Government has unveiled new flexible payment plans for Nigerians to convert their Premium Motor Spirit cars to run on Compressed Natural Gas (CNG).
The initiative was announced in a statement on Wednesday by the National Orientation Agency.
The statement which was titled, โPayment plan to make it easier to switch to CNGโ is coming hours after the independent marketers reviewed the pump prices of PMS upward to about N1,200 per liter in the Federal Capital Territory and environs.
The NOA said, โSwitching to Compressed Natural Gas 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.
โThese payment options allow you to convert your vehicle now and pay later with affordable monthly installments at competitive rates. With an easy online application and quick approval process, youโll receive support every step of the way to ensure a hassle-free experienceโ
โThe benefits of CNG include Cost Savings, Environmental Impact, Enhanced Engine Life, Safety and Reliability, Proven technology with a track record of safety and dependable performance.โ
Transition to CNG is one of the innovations the federal government adopted to reduce the impact of fuel subsidy removal on Nigerians and the economy at large.
Several investments have been made by the government through the Nigerians National Petroleum Company Ltd including massive investments in 12 CNG stations across Nigeria and the building of three Liquefied Natural Gas (LNG) stations in Ajaokuta.
The NNPC is planning to raise the number of its CNG refueling stations to more than 100 by 2025.
The company believes it would provide wider options for CNG car owner.
โThere is simply no way to turn back on delivering CNG for all Nigerians. We will cover the gap to ensure that the volatility we see with Premium Motor Spirit (petrol) does not apply to gas,โ NNPCโs Group chief executive Mallam Meleย Kyariย said.