The Bola Ahmed Tinubu-led administration said the era of buying Premium Motor Spirit, known as petrol between ₦750 to ₦1000 per liter, is over.
This is coming as it prepares to commission 30,000 Compressed Natural Gas (CNG) powered vehicles in the next 90 days.
The Project Director and Chief Executive Officer of the Presidential Compressed Natural Gas Initiative, Michael Oluwagbemi, disclosed this during the Park to Park CNG Mobilisation program held at the Ojota Park in Lagos on Saturday.
He said the initiative is expected to gulp ₦36 billion for 30,000 CNG conversion kits for distribution free of charge nationwide within the period.
“Today, we are here with conversion kits. We have bought over 30,000 of these kits, mainly for distribution in the next 90 days.
“The President has told us that this is not just to end with 30,000 kits, the target is one million kits. We want to make sure all of you can benefit from this government initiative,” he stated.
“The era of buying ₦750, ₦800, or ₦1,000/liter fuel is over. We are not doing that again. We will start using the gas under our feet so that we can buy it at ₦230/kg,” he stated.
Get instant and latest news updates via Our WhatsApp Community or Google News online channel.