Federal Government on Friday flagged off the Presidential Compressed Natural Gas Initiative (PCNGI), with seven conversion centres across Nigeria.
The flagged off the initiative was done by the Chief Of Staff to the President, Femi Gbajibiamila.
In a symbolic handover of the CNG buses to the State House, the Chairman of the Presidential CNG Initiative Steering Committee, Zacch Adedeji, who was represented by the Chief Executive Officer of the Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, he announced that the government has waived the Value Added Tax (VAT) on the CNG buses purchase as well as seeking duty waivers for value-chain.
According to him, the goal is to build a sustainable future, leveraging Nigeria’s available cheap and clean energy source, which is gas.
Adedeji, who is also the Chairman of the Federal Inland Revenue Service, also disclosed that plans are underway for the government to establish multiple conversion centres across the Country in the next two weeks.
“Moreover, it is my pleasure as your Chief Tax Officer, a position I hold alongside as Chairman of this initiative, to announce that we will be waving the Value Added Tax on CNG purchases as well as seeking duty waivers for value-chain. The goal is to build a sustainable future, leveraging our own cheap and clean energy source gas.”
He stated that while the project is currently about the conversion of vehicles, it will also generate employment opportunities.
Adedeji emphasised that the delivery of the CNG project demonstrates President Bola Tinubu’s commitment to both environmental sustainability and economic growth in Nigeria.
Adedeji urged Nigerians to consider the buses as a symbol of a new beginning, “a journey towards the future, where the power of tomorrow starts today. Let this be a beacon for our country, Nigeria, and an inspiration to the world.
