FG budgets N130bn for CNG conversion, electric vehicles

The federal government has budgeted N130 billion for clean energy transition initiatives.

According to the 2024 appropriation bill, which was passed on Saturday, the sum is expected to be used for local infrastructure development.

The earmarked sum will also be expended on the conversion to compressed natural gas (CNG), and electric vehicles, among others.

President Bola Tinubu, on July 31, 2023, said his administration made provision to invest N100 billion till March 2024 for the acquisition of 3,000 units of 20-seater buses powered by CNG.

The federal government also agreed to earmark the amount for the buses in the memorandum of understanding (MoU) signed between it and organised labour.

Checks also showed that N130 billion was budgeted in the appropriation bill, submitted by Tinubu to the national assembly.

On October 29, 2023, the Presidential Compressed Natural Gas Initiative (PCNGI) inaugurated a CNG vehicle pilot conversion centre in Lagos.

Also, PCNGI inaugurated the Abuja CNG conversion and training centre on November 2, 2023, to ensure the attainment of a sustainable energy future in the country.

The Kaduna state CNG conversion centre was inaugurated in the same month.