The Federal Government has assured that the successful implementation of its Compressed Natural Gas (CNG) initiative will save the country at least $4.4 billion from its total annual spending on fuel importation.
This is as the Tinubu-led administration seek ways to foster sustainable energy solutions and reduce carbon emissions while also cushioning the impact of fuel subsidy removal which has led to a significant increase in the price of fuel and diesel.
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According to the Programme Director and Chief Executive Officer of the presidential CNG initiative, Michael Oluwagbemi, the importance of transition to natural gas will bring about a more affordable, cleaner, safer and sustainable economy.
He also reiterated that it is “the vision of Mr President to use CNG which we have in abundance in Nigeria to create jobs and also to intervene in the transportation sector in such a way that the cost of transportation will go down.”
