The federal government has unveiled a website that offers a pay-later option for commercial and private car owners looking to convert their petrol-powered vehicles to Compressed Natural Gas (CNG).
This was in response to the incessant increase in transportation fares following the removal of the fuel subsidy.
According to the Presidential Compressed Natural Gas Initiative (PCNGi) the initiative will help ease transportation costs and encourage more transporters to embrace CNG.
In a post on X, the National Orientation Agency (NOA) revealed that this initiative ensures a hassle-free experience for CNG users through an easy online application and a quick approval process.
“Switching to Compressed Natural Gas (CNG) is now more accessible than ever. With flexible payment plans tailored to fit your budget, transitioning from petrol to CNG has never been smoother or more affordable. These payment options allow you to convert your vehicle now and pay later with affordable monthly installments at competitive rates.” NOA stated.
The installment payment option aims to achieve the federal government’s projection of a 30-40% fare reduction as more motorists adopt this initiative.
In addition to the distribution of 2,000 CNG-powered tricycles among youths in the transportation sector across Nigeria, the pay-later option is intended to encourage more people to adopt CNG, thereby providing affordable mobility options.
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