The Nigerian government has introduced a “Buy Now, Pay Later” initiative to accelerate the adoption of Compressed Natural Gas (CNG) as an alternative fuel to petrol, offering flexible payment plans to ease conversion costs for vehicle owners.
This innovative platform, launched by the National Orientation Agency (NOA), provides a solution for Nigerians to convert their petrol-powered vehicles to CNG while paying in affordable monthly installments. This move comes as fuel prices in Nigeria soar, with petrol prices ranging from N950.22 to N1,100 per liter, making CNG a more cost-effective option for transportation.
“Switching to CNG is now more accessible than ever with flexible payment plans that fit your budget,” the NOA announced on its official social media handle. “You can convert your vehicle now and pay later with competitive rates and affordable monthly installments.”
As part of the Presidential CNG Initiative, the government has been expanding CNG conversion centers across the country, with facilities recently established in Abuja, Ogun, Ekiti, Nasarawa, and other states. The initiative targets converting one million vehicles to CNG by 2027, with the goal of reducing road transportation costs by up to 40%.
For MSMEs and small business owners who rely heavily on transportation, this shift to CNG offers a sustainable and economical solution. Vehicle owners can now apply online for conversion and receive swift approval, streamlining the transition to cleaner energy.
With the current economic pressures from rising fuel costs, this initiative is expected to ease financial burdens, create new business opportunities within the CNG market, and contribute to Nigeria’s broader energy transition strategy.
This move also positions Nigeria as a leader in the African continent’s push for sustainable energy solutions, making it a prime example of how governments can facilitate access to affordable clean energy while promoting economic growth.
