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.
Speaking during the commissioning of the Autogas Technology Training and Development centre in Abuja on Tuesday, the Minister of State for Petroleum Resources, Chief Timipre Sylva, noted that the money is already lying in the coffers of the Central Bank of Nigeria (CBN).
Sylva explained that the the decision to make the money available was borne out of the high cost government was spending on fuel subsidy adding that it will also cushion the effects of rising petrol costs in line with President Muhammadu Buhari’s commitment to adopt gas as an alternative fuel for the country.
He said, “The amount of money government is spending on fuel subsidy is high. So the President Muhammadu Buhari led government in a bid to ease the pains of Nigerians decided to look inward and evolved ways to reduce the cost.
“If we focus on moving from fosil fuel to Liquified Petroleum Gas (LPG) and Compressed Natural Gas (CNG), it will save us alot of money because the benefits are enormous.
“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.”
While pledging support of the ministry to the project, Sylva cautioned autogas technicians to ensure that converted vehicles functions properly and are well-maintained.
He added that the conversion underscored the seriousness of the new government initiative and urged Nigerians to embrace gas-powered vehicles as they are cheaper and more environmentally friendly than any other fuel available on the market today.
Earlier, Engr Dr Robinson Elijah, Chairman, Autogas Technology Education and Research Advisory Board in his welcome address urged Nigerians, stakeholders to take advantage of the project.
Engr Elijah who reiterated the commitment of the board to maximise the investment effects said, they will rely on the experienced garnered over the years to ensure that the project is successful.
The project was done in collaboration with the Federal Ministry of Petroleum Resources, National Gas Expansion Program, NADDC, the Nigeran Institution of Mechanical Engineering, COREN and Automotive and Locomotive Engineering Institite amongst others.
