By Seyi Babalola
The Nigerian government has said that properly using Compressed Natural Gas can cut inflation, which reached 33.69 percent in April 2024.
Michael Oluwagbemi, Programme Director of the Presidential Initiative on Compressed Natural Gas (Pi-CNG), made the announcement during a one-day South-South and South-East stakeholders’ engagement conference in Port Harcourt, Rivers State.
He stated that Nigerians may save 40 to 50 percent on petrol by switching to CNG.
“It can reduce inflation. It is cheaper. You can realize between 40% and 50% savings from patrol. This is good for Nigeria, and it is safer.
“It is 18 times safer than petrol and diesel. It is cleaner and safer for the environment,” he said.
He added that Nigeria would save about $2.5 billion by converting every one million vehicles to CNG.
