Ibadan, Oyo State – In a strategic move to address the economic impact of fuel subsidy removal and pave the way for a cleaner and more sustainable transportation future, the Federal Government on Thursday unveiled the Conversion Incentive Programme for Compressed Natural Gas (CNG) in Ibadan, the capital of Oyo State.
The initiative, spearheaded by the Presidential Compressed Natural Gas Initiative, is a key component of President Bola Tinubu’s Renewed Hope Agenda, which aims to reduce Nigeria’s dependence on costly and environmentally harmful imported petroleum products.
Michael Oluwagbemi, the Chief Executive Officer and Programme Director of the initiative, emphasized the significance of the CNG programme during the launch. He described it as a potential game-changer for the nation, urging Nigerians to fully embrace the shift towards natural gas as a primary energy source.
“The President urged Nigerians not to doubt the initiative but to allow the nation to leverage its resources,” Oluwagbemi said, highlighting the importance of reducing reliance on foreign oil
