The federal government, on Friday, launched the long-awaited Compressed Natural Gas (CNG) Initiative with the handing over of two CNG-fueled buses to the management of the State House.
Speaking at the official launch of the initiative at Presidential Villa, Abuja, Chairman of the Presidential Compressed Natural Gas Initiative (P-CNGi), Mr Zacch Adedeji, who performed the handing over ceremony, disclosed that the launch also involved the opening of seven pilot conversion centres nationwide.
Adedeji, who is also the Chairman of the Federal Inland Revenue Service (FIRS), further disclosed that the government has waived the Value Added Tax (VAT) on CNG purchases as well as seeking duty waivers for value-chain.
Chairman of the initiative, who was represented at the launching event by the Authority Chief Executive Officer of the Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed, also disclosed that plans are underway for the government to establish multiple conversion centres across the country in the next two weeks.
“I’m pleased to announce that there are currently seven conversion centres in Nigeria and the government is actively working to establish more of them. These plans will be rolled out, starting this afternoon, by the initiative.
“This project is not only about conversion of vehicles but also about generating employment opportunities. It demonstrates President Bola Tinubu’s commitment to both environmental sustainability and economic growth.
“Moreover, it is my pleasure as your Chief Tax Officer, a position I hold alongside as Chairman of this initiative, to announce that we will be waiving the Value Added Tax on CNG purchases as well as seeking duty waivers for value-chain.
“The goal is to build a sustainable future, leveraging our own cheap and clean energy source; gas”, he said.
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