FG establishes CNG conversion 7 centres, waives VAT on CNG purchases

The Federal Government through the Presidential Compressed Natural Gas (CNG) Initiative Steering Committee, on Friday said 7 CNG conversation centres have been established in the country.

This was made known by the Chairman of the Committee, Mr Zacch Adedeji, during the launch of the much awaited CNG initiative with the handing over of 2 CNG buses to the State House, Permanent Secretary, Mr Olusesan Adebiyi, at the presidential villa, Abuja.

Adedeji, who is also the acting Chairman, Federal Inland Revenue Service (FIRS), was represented by Mr Farouk Ahmed, Chief Executive Officer, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA)

He said the establishment of the CNG conversion centres symbolised the commitment of President Bola Tinubu administration to spearhead energy revolution in the country.

Adedeji said more CNG conversion centres would be established across the country, adding that the effort was a pivotal step in the country’s journey towards a cleaner and economically sound future.

He added that the project was not only about the conversation of vehicles but also creating employment opportunities.

Adedeji disclosed that FIRS would waive Value Added Tax on CNG purchases and seek duty waivers for the value chain.

He said that the aim was to build a sustainable future leveraging the nation’s cheap and clean energy source.

According to him, it also demonstrates Tinubu’s commitment to environmental sustainability and economic growth.

Adedeji appreciated the President for his support and to all those who played a part in the project.

Speaking at the occasion, the Chairman, Nigeria Governors Forum (NGF) and Governor of Kwara State, AbdulRahman AbdulRazaq, said the event marked a new turn in the history of Nigeria as it begins gradual transition from petroleum to gas powered vehicles.

He said that Universities would be the first beneficiaries of the buses, adding that all state governments would key into it.

On his part, Mr Chinedu Oguegbu, the Managing Director, OMAA Motors, a Nigerian automobile manufacturer, expressed gratitude to Tinubu for the initiative.