The Federal Government says it has set aside N250 billion for willing investors in autogas assembly plants in the country.
The Minister of State for Petroleum Resources, Timipre Sylva, disclosed this on Tuesday, in Abuja, at an Autogas Technicians Training and Certification Programme.
The programme was organised by the technicians, in collaboration with the Federal Ministry of Petroleum Resources, National Gas Expansion Programme, the Nigerian Institute of Mechanical Engineers, Automotive and Locomotive Engineering Institute, amongst others.
Sylva, who was represented by the Senior Technical Adviser on Referendum, Umar Gwandu, said that the money was already in the coffers of the Central Bank of Nigeria, CBN, and those interested in opening conversion centres could access it.
He said the decision to make the money available was as a result of the huge amount spent by the government on fuel subsidy, adding that it was in line with President Muhammadu Buhari’s commitment to adopt gas as an alternative fuel for the country.
“The amount of money the government is spending on fuel subsidies is high so the President Muhammadu Buhari-led government, in a bid to ease the pains of Nigerians, decided to look inward and evolve ways to reduce the cost,” he said.
Earlier, Robinson Elijah, Chairman, Autogas Technology Education and Research Advisory Board, urged Nigerians and other stakeholders to take advantage of the project.
Joyce Daser-Adams, Chief Executive Officer of Auto Lady Engineering Technology, said that one of the major challenges in converting a vehicle from fossil fuel to LPG or CNG was the non- availability of parts.
