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FG earmarks N250bn for Autogas conversion of vehicles

Photo: arbiterz.com

In a bid to ensure that its autogas conversion of vehicles yield the desired results, the Federal Government has disclosed that it has set aside the sum of N250bn for those willing to invest in autogas Assembly plant’s in the country.

At an Autogas Conversion Training and Certification programme in Abuja, Minister of State for Petroleum Resources, Chief Timipre Sylva said the money was already at the coffers of the Central Bank of Nigeria (CBN).

Chief Sylva, represented by the Senior Technical Adviser on Referendum, Mr Umar Gwandu explained that the money would also cushion the effects of the rising costs of petrol in line with President Muhammadu Buhari’s commitment to adopt gas as an alternative fuel for the country.

“Aside from the fact that autogas is cheaper, we are also concerned about making the conversion of cars affordable so that Nigerians can indeed reap the advantage of this new policy”.

He said.

Chief Sylva urged Autogas technicians to ensure that converted vehicles functioned properly and were well-maintained. 

Chairman, Autogas Technology Education and Research Advisory Board, Dr Robinson Elijah, called on stakeholders to take advantage of the project and while reiterating the boards’ commitment to maximzing the investment effects.

Reporting by Ifeoma Nwovu; editing by Muzha Kucha