Due to the rising cost of living as a result of the fuel subsidy removal in Nigeria since May 2023, the nation has resorted to alternative energy sources, that are not just more affordable, but also very effective. The adoption of Compressed Natural Gas (CNG) has proven to be widely accepted as the most viable option.
The Presidential Compressed Natural Gas Initiative (P-CNGi) since its inauguration has proven to be effective in providing clean, affordable, and accessible energy alternatives to every part of the nation, according to Dailytrust.
Key states in the country including Lagos, Abuja, Rivers, and Ogun, among others have launched CNG conversion centres. Recently Kaduna state inaugurated its own conversion centre in the presence of dignitaries, government officials and industry heads. The groundbreaking was carried out at the Rolling Stone Energy station in Kaduna State.
This development will undoubtedly have a positive impact on the lives of the citizens of the state. Part of its benefits includes accessible and affordable energy; sufficient and sustainable alternative energy; cost-effectiveness enabling greater savings and business growth; job creation and value chain empowerment, among other benefits.
CNG is also sold at a cost ranging from N320 to N350 per equivalent litre when compared to petrol. In this context, CNG proves to be notably more cost-effective than conventional petrol, which sells at an average of between N550 to N650 per litre.
With this development, Nigeria is gradually moving into a new era of energy transformation as well as economic liberation.