The Federal Government has launched a financing initiative to help Nigerians convert their vehicles to Compressed Natural Gas, in a move aimed at expanding access to cheaper and cleaner transport.
The programme is being driven by the Presidential Initiative on Compressed Natural Gas and Electric Vehicles, known as Pi-CNG & EV, in partnership with the Nigerian Consumer Credit Corporation, CREDICORP, and a commercial bank.
Under the scheme, vehicle owners can access financing for CNG conversion through instalment payments spread across six months, reducing the burden of large upfront costs.
Officials said the initiative is designed to make CNG adoption more accessible at a time of rising energy costs and growing concern over fuel price volatility.
The Executive Chairman and Chief Executive Officer of Pi-CNG & EV, Barrister Ismaeel Ahmed, said the effort reflects the government’s push to remove barriers that have slowed wider adoption of CNG technology.
The programme is also expected to support Nigeria’s energy transition goals by encouraging the use of cleaner fuel alternatives and reducing harmful emissions from conventional vehicles.
Authorities described the initiative as part of a broader strategy to build a more affordable, sustainable and resilient transportation system across the country.
