By Faridat Salifu
President Bola Ahmed Tinubu has underlined the urgent need to diversify away from petrol products and pursue Compressed Natural Gas ( CNG) initiatives.
The President made the promise on Sunday during a presidential broadcast to the nation in response to the nationwide #Endbadgovernance protest in the country.
He said the previous dependence on petrol has not only drained foreign reserves through subsidies but has also stifled the nation’s economic potential.
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According to him, this initiative is set to significantly lower costs associated with imported petrol and diesel, with an anticipated monthly savings of over two trillion Naira.
He said the government plans to distribute one million affordable conversion kits to commercial vehicle operators, who currently consume 80% of the imported petrol and diesel.
With ongoing partnerships with the private sector, conversion centres are being established nationwide to facilitate this transition.
The President expressed confidence that the CNG initiative will reduce transportation costs by approximately 60%, ultimately helping to curb inflation.
This strategic shift towards natural gas as a primary fuel source not only aims to improve the economic landscape but also repositions Nigeria to better harness its vast natural resources for sustainable growth.
