The Federal Government has announced plans to creat employment opportunities targeting over 25,000 job and $2.5bn worth of investment in the nation’s economy by 2027.
Programme Director and Chief Executive officer of the Presidential Compressed Natural Gas Initiatives, Michael Oluwagbemi, made this announcement during the Presidential CNG stakeholders’ engagement workshop, held at BOVAS Auto-Gas filing stations, Ajibode Bus-Stop in Ibadan, Oyo State capital.
Oluwagbemi said the initiative, which was part of palliatives on the removal of fuel subsidy, would attract enormous investment and job creation that would impact positively on the lives of Nigerians.
The programme director and chief executive, called on Nigerians to embrace the new initiatives by the Federal Government as part of palliatives to cushion the effect of removal of fuel subsidy in the country.
He said in the coming weeks, the conversion incentives programme will be announced which will enable Nigerians currently using PMS and Diesel fuel vehicles to be able to convert their vehicles at designated places across the country at a discounted price based on certain pre qualification under the palliative program of the Federal Government.
Speaking on the value chain of the initiative, Oluwagbemi explained that the Federal Ministry of Finance was acquiring a number of tricycles and buses that will be assembled and manufactured in Nigeria, with more than five automobile firms been activated.
Oluwagbemi said the President had set a target to convert one million vehicles by 2027, 1,000 conversion shops, and over 3,000 filing stations, adding that to achieve this, 25,000 technicians are needed.
The representative of BOVAS filing stations, a private investor in the Presidential CNG Initiatives, Temitope Samson, said, the organization is working with the regulators and the Presidential Initiatives on CNG to make sure that standard safety is adhered to.