In an effort to facilitate the transition from Premium Motor Spirit (petrol) to Compressed Natural Gas, the Nigerian government has launched a “buy now, pay later” webpage.
The new website would allow Nigerians to convert their petrol-powered vehicles to compressed natural gas (CNG) and opt for a pay-later option for the conversion costs.
This is contained in a statement by the National Orientation Agency, NOA through its official X handle on Tuesday.
The government stated that the payment option is to allow drivers to convert their vehicles now and pay later through affordable monthly instalments at competitive rates
“Switching to Compressed Natural Gas (CNG) is now more accessible than ever. With flexible payment plans tailored to fit your budget, transitioning from petrol to CNG has never been smoother or more affordable.
“These payment options allow you to convert your vehicle now and pay later with affordable monthly installments at competitive rates.
“With an easy online application and quick approval process, you’ll receive support every step of the way to ensure a hassle-free experience,” the government stated.
This comes as the Nigerian government through the Presidential CNG initiative expands CNG conversion centres across the Country.
Conversion centers have been launched in the Federal Capital Territory, Abuja, Ogun, Ekiti, Nasarawa and other states in the last six months.
The Federal Government said it targets 1 million vehicles’ conversion by 2027.
According to the government, the CNG initiative would reduce road transportation costs by 40 percent.
This comes as Nigerians grapple with high transport costs due to fuel pump price hikes to between N950.22 and N1,100 per liter from N770.
Written By Ogaga Ariemu