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Conversion Of Petrol Vehicles To CNG To Cost Between N300,000 To N600,000 – FG

Published

6 months ago

November 14, 2023

The federal government has disclosed that Nigerians are expected to pay between N300,000 and N600,000 to convert their petrol vehicles to Compressed Natural Gas, CNG.…

The federal government has disclosed that Nigerians are expected to pay between N300,000 and N600,000 to convert their petrol vehicles to Compressed Natural Gas, CNG.

The Chief Executive Officer of the Presidential Compressed Natural Gas Initiative (P-CNGi) Steering Committee, Engr. Michael Oluwagbemi revealed this in an interview with Daily Trust after the official commissioning of CNG conversion centres and a demonstration of converted CNG vehicles in partnership with the private sector at the head office of Femadec Group, one of the partners in Lagos.

He also stated that the FG is also planning to establish 10,000 CNG vehicle conversion workshops in the near future.

Addressing the cost of conversion, Oluwagbemi explained that it may range between N300,000 and N600,000, depending on exchange rate compatibility.

He also mentioned that Nigeria aims to begin assembling and manufacturing CNG conversion kits, thereby creating further employment opportunities.

He added, “Currently, we are importing conversion kits, but under this initiative as a relief for Nigerians, the government is offering discounts on the immediate conversion cost and is considering flexible payment options as the committee continues to review the CNG initiative, offering more discounts and incentives.”

Additionally, the committee revealed that the initiative is expected to attract over $2 billion in investments into the Nigerian economy and create more than 250,000 employment opportunities for various professionals.

The Chief Executive Officer of Femadec Limited, Fola Akinola, expressed his anticipation for financing structures from banks through the federal government in addition to P-CNGi’s intervention to support the initiative.

Headline

Breaking news: Minimum Wage: Labour rejects FG’s N54,000 offer

Published

54 mins ago

May 21, 2024

Olakunle Adeniyi

The organised labour has rejected the Federal Government N54,000 new minimum wage proposal.

According to reliable source, the meeting on the ongoing negotiations on new minimum wage has been adjourned till Wednesday after the organised labour.

Media report has it that the Federal Government upped its offer from its earlier proposed N48,000 to N54,000.

Tuesday’s meeting came as a result of the walkout staged by members of the organised labour following the proposal of N48,000 as minimum wage by the Federal Government during last week’s meeting.

During that meeting, the OPS had also proposed N54,000 while labour insisted on its N615,000 living wage demand.

Our correspondent who spoke to sources who attended the follow-up meeting on Tuesday learnt that the Federal Government upped its offer from N48,000 to N54,000.

“Well, during the meeting, the government increased its offer from N48,000 to N54,000. However, labour rejected that offer and the meeting has been adjourned till Wednesday,” a source who asked not to be named said.

When asked if the government’s side was showing any sign of seriousness, the labour leader said, “No seriousness at all. Even state governors did not show up. Those who represented them, like Bauchi and Niger states, did not have the mandates to speak on their behalf.

News

Junior Pope betrayed me repeatedly – Yul Edochie

Published

1 hour ago

May 21, 2024

Fellow Press

Nollywood actor Yul Edochie has claimed that his late colleague, Junior Pope, betrayed him repeatedly despite his being there for him in his times of need.

According to Edochie, it was the reason he shunned the late actor’s burial in Enugu State on Friday.

He said he wanted to wait till after Junior Pope’s burial before he reveal how the late actor betrayed him.

He promised the full story of how Junior Pope betrayed him soon.

On his Instagram story, Edochie wrote: “I didn’t want to say anything till after his burial. I know many asked why I wasn’t there. Why I haven’t said anything about it since.

“I took him like a brother & good friend. I was there for him when he needed me. But he stabbed me in the back repeatedly. That’s life!

“I’ll drop the full details soon so others can learn from it.

“Be careful what you wish people, it could come to you.”

Recall that Junior Pope died on April 10, 2024, alongside three others after their boat capsized on the Anam River in Anambra State while returning from a film location.