The Nigerian government has launched a new ‘Buy Now, Pay Later’ platform to promote the adoption of Compressed Natural Gas (CNG) as an alternative to Premium Motor Spirit (petrol).
This initiative aims to provide Nigerians with a flexible option to convert their petrol-powered vehicles to CNG and pay for the conversion costs through affordable monthly installments.
Announced by the National Orientation Agency (NOA) via its official X handle on Tuesday, the platform is designed to ease the financial burden on vehicle owners by offering competitive rates and a streamlined online application process for quick approval.
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“Switching to CNG is now more accessible than ever with flexible payment plans that fit your budget. This allows you to convert your vehicle now and pay later with affordable monthly installments at competitive rates,” the statement reads.
The government, under the Presidential CNG Initiative, has also been expanding CNG conversion centers across the country, with new facilities established in the Federal Capital Territory (FCT), Abuja, Ogun, Ekiti, Nasarawa, and several other states over the past six months. The aim is to convert one million vehicles to CNG by 2027.
This initiative is expected to lower road transportation costs by up to 40% as Nigerians face steep hikes in fuel prices, which recently soared to between N950.22 and N1,100 per liter, up from N770.
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