The federal government has said that every one million cars converted to run on compressed natural gas will save almost $2.5 billion annually.
At the South-South/South-East Stakeholders Engagement Meeting on the Presidential Initiative on CNG, which took place in Port Harcourt, Rivers State, on Friday, Michael Oluwagbemi, the initiative’s program director, shared more insights about it.
According to Oluwagbemi, the project has the potential to lessen the inflation that is now plaguing the country’s economy.
Per a BusnessDay report, he said that the federal government’s push for compressed natural gas (CNG) is essential to the country’s economic growth and the end of the pollution and environmental degradation era.
He pointed out that although the nation has plenty, it lacks the means to use it and that CNG is cheaper, cleaner, and would lower transportation costs.
Oluwagbemi stated:
To the ordinary person, the programmed director said this translates to a reduction in the cost of transportation.
He added:
TimesNow.com.ng reported that since November last year, the deployment of dispensing pumps for CNG has risen by 233% in six months.
Michael Oluwagbemi, Coordinator and Chief Executive of the Presidential Initiative on CNG (Pi-CNG), disclosed this as he addressed journalists at a Mikano International CNG Vehicle assembly plant tour in Ogun State.
Mikano has shown interest in deploying about 18 CNG pumps nationwide for widespread CNG adoption.
Proofreading by James Ojo Adakole, journalist and copy editor at TimesNow.com.ng.
Source: TimesNow.com.ng
