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Subsidy removal: CNG best palliative at N100/litre, say marketers

Published

3 years ago

June 14, 2023

Subsidy removal: CNG best palliative at N100/litre, say marketers

90% ready to roll out

Oil marketers say they are about 90 per cent ready to roll out Compressed Natural Gas (CNG) as an alternative to high-priced petrol and diesel in Nigeria.

They also said the CNG initiative to power vehicles, generators and for cooking is the best palliative the Federal Government could possibly provide after its removal of fuel subsidy.

They spoke through the National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Okoronkwo.

Okoronkwo said this on Channels Television’s Business Morning programme Monday.
He said the CNG would help bring down the cost of energy in the country.
“Very soon, we will roll out. We are 90 per cent close to that, and that will also unveil many possibilities,” he said.
“IPMAN has brought relief to a lot of families. We have got the usage of our natural energy, CNG, to power vehicles, generators, and even cooking,” the IPMAN president said.
The CNG is expected to reduce, to a large extent, the country’s exposure to fuel importation as natural gas would not be imported.
Okoronkwo noted that CNG-powered cars had started gaining momentum in the country because of increased awareness about its efficiency and affordability, compared to traditional fuels like diesel and petrol.
“If the government buys into what we are saying, it will act as an assistance, bring relief, and create job opportunities.
“What we need the government to do is create the market. The demand is there,” the IPMAN president said.
He added that IPMAN had received a lot of buy-in from companies overseas.
On what the CNG brings to the value-chain, he said, “I don’t know if you have seen what is trending this week where people with their I-pass-my- neighbour generators are beginning to use liquified petroleum gas. LPG is close to N700 per kilogramme, but this natural gas we are talking about is under N100 to N110.
“When you check what the impact will be, it will reduce the cost of food because people coming from the hinterlands bring food to the cities. From Kano, it takes them about N1.2 million to fuel trucks with diesel, but with this CNG, it will cost them about N150,000 to N200,000. About a million naira is saved that will translate to cheaper food and open up a lot of other businesses.
“It will provide cheaper energy to drive the processing zones like the agro-based industries, where the gas will also create a lot of impact.
“The CNG does not replace the PMS, but it is a choice. We are talking of something that will help your purse and not deepen it.”
The director of Gas Analytics and Solutions Limited, Shuaibu Bello, who also spoke at the Channels Television programme, said the CNG would be a game-changer for Nigerians.
“This is the best palliative you can give the nation. If you talk of palliative, it is not just sharing money with people, it is creating a system that will reach the rich and the poor.
“If you compare the CNG price at N110 per litre with petrol now at N540 or its former price of N185, still you will have a reduction,” he said.
IPMAN had in April 2023 wrote to the Finance ministry to request that the Central Bank of Nigeria (CBN) be mandated to release N250 billion intervention fund for the implementation of the National Gas Expansion Programme (NGEP).
IPMAN explained it asked for the funds to provide access to the Gas Expansion Fund for vehicle, commercial tricycle and truck owners to access loans to finance the acquisition of natural gas conversion kits.
IPMAN said that it had partnered Gas Analytics & Solutions Limited to co-locate natural gas dispensers on their network of over 30,000 filling stations in Nigeria.
According to IPMAN, it controls over 80 per cent of the downstream oil sector, and as such, the collocation model would help to reduce the exposure in building new filling stations.
Also, the manager Corporate Communications at NipCo, Biodun Lawal, speaking on the company’s desire to depeen investment in the gas sector, said the savings accruing from subsidy removal would offer more opportunities to fund the enormous gas infrastructure deficit in the nation.
“We are still investing more infrastructure with a proviso that clientele will improve sporadically
Some of the challenges in harnessing the abundant gas resources in the country includes – paucity of pipelines to transport gas across the country ,cost of conversion to use gas as auto fuel , access to gas through stations .
“With all modesty NIPCO gas Limited is the only company with over 12 CNG get to get gas for motorist” he said.
Lawal said motorists can now see the benefits in running their vehicles on gas rather than fossil fuels.
According to him, the CNG as a preferred alternative to petrol is good for gas companies as the nation at large as or offered veritable opportunity of creating more employment opportunities ,better value creation in the Industry ,better utilisation of the endowed gas resources of the country .
He said the benefits are enormous for motorists in terms of savings and lifespan of such automobiles and that the conversion cost should not be a drawback with support from the government especially with fiscal policies to encourage investors to go into kits manufacturing and ancillary items such as cylinders.
“In the interim policies can be put in place for exemption from levies of imported accessories pending when the environment will be made more conducive for its manufacturing in Nigeria CNG business has a good horizon in the country with the challenges tacked headlong

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CFAO Mobility Open Day to offer special deals on new vehicles, parts, diagnostics

Published

1 week ago

April 10, 2026

Trends Admin

CFAO Mobility Open Day to offer special deals on new vehicles, parts, diagnostics

CFAO Mobility has announced plans to host the 2026 edition of its flagship CFAO Mobility Open Day, aimed at showcasing a wide range of innovative mobility solutions.

In a statement, the company said the event would take place on Thursday, April 30, 2026, at Harbour Point, Victoria Island, Lagos, from 9am to 6pm.

The Open Day is expected to bring together leading global automotive and equipment brands in a dynamic exhibition tailored to meet diverse mobility needs.

Participating brands are Toyota, BYD, Mitsubishi, Suzuki, Fuso, JCB, Howo, Sino Equipment, King Long, TechKing Tyres, Yamaha, Winpart and Auto Fast.

According to CFAO Mobility, attendees will experience an extensive display of products and services, ranging from brand-new vehicles and motorcycles to outboard engines, fleet management solutions, spare parts and aftermarket services.

The event, which is free and open to the public, will also feature test drives, professional vehicle diagnostics and exclusive spare-parts deals, offering participants a hands-on and engaging experience.

The company urged car enthusiasts, business owners and prospective buyers to take advantage of the Open Day to explore mobility solutions tailored to their personal and business needs.

With over 120 years of presence in Nigeria, CFAO Mobility remains a key player in the mobility and healthcare sectors.

It added that the Open Day reflects its continued commitment to delivering innovative, customer-focused mobility solutions.

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Jetour set to ignite Lagos with four-day automotive experience

Published

1 week ago

April 9, 2026

Trends Admin

Jetour set to ignite Lagos with four-day automotive experience

Lovers of sophisticated and elegant SUVs in Lagos are about to witness a combination of automotive engineering and urban lifestyle as Jetour Nigeria announces the hosting of a flagship event, “The Jetour Experience,” a four-day immersive festival designed to redefine how Nigerians interact with the road.

From April 16 to 19, 2026, The Podium in Lekki, Lagos, will be transformed into a high-energy hub where sleek design meets high-octane entertainment. This is not just a standard car show; it’s a curated lifestyle destination, says the organisers in a statement.

The four-day event is said to promise a fusion of horsepower, high fashion, and plenty of fun.

Tagged “The Jetour Experience,” the four-day extravaganza is not just about gleaming chrome and leather seats; it is a high-octane celebration aimed at blurring the lines between mobility and entertainment.

Specifically, it stated that the exhibition would feature test drives, virtual reality gaming, fitness sessions, and interactive activities with branded giveaways.

The statement added that the arena would buzz with entertainment, including contests and interactive games, giving guests the chance to win exclusive branded gifts and prizes.

In a massive show of force, Jetour says it is partnering with its seven prestigious accredited dealers—Elizade Nigeria Limited, New Era Autovehicle Services Limited, Kojo Motors, R.T. Briscoe, Tab Autos Limited, Mandilas Motors, and Germaine Auto Centre —to bring their full fleet to the public.

Whether you are an eco-conscious commuter or an off-road adventurer, the lineup has something for everyone, according to a statement by the Jetour Nigeria.

The Urban Explorers: X50 and X70

The Sophisticates: X70 Plus and X90 Plus

The Eco-Warriors: X70 PHEV and T2 PHEV (Plug-in Hybrids)

The Icons: The rugged T2 and the razor-sharp Dashing

Jetour is blurring the lines between mobility and entertainment. Running daily from 9:00 am to 7:00 pm, the event promises a packed itinerary designed to keep the adrenaline pumping.

Visitors will also push limits during test drives, explore virtual reality (VR) gaming such as foosball, and take part in curated fitness sessions.

In a creative masterstroke, the grand finale will feature a car runway fashion show. Attendees can expect a visual feast where automotive engineering meets sartorial elegance, reinforcing the idea that a Jetour is not just a vehicle but a fashion statement.

The firm stated, “Beyond the glitz, the event maintains a strong focus on safety. A dedicated panel discussion featuring stakeholders and officials from the Federal Road Safety Corps (FRSC) will explore road safety, tech-driven security, and the future of motoring in Nigeria.

“With its blend of adrenaline, artistry, and advocacy, Jetour Nigeria isn’t just hosting an event; it is creating a destination.”

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Soaring Fuel Prices Drive Nigerians Toward Electric Vehicles

Published

2 weeks ago

April 2, 2026

Trends Admin

Soaring Fuel Prices Drive Nigerians Toward Electric Vehicles

Rising fuel prices in Nigeria are accelerating interest in electric vehicles (EVs) as households, transport operators, and businesses seek cost-effective alternatives to petrol- and diesel-powered cars. Experts say the spike in petrol costs is no longer just an economic concern but a turning point, pushing electric mobility from a futuristic idea into a practical solution for everyday commuting and commercial use.

At the Abuja Compact on Electric Mobility Roundtable, stakeholders highlighted how increasing transport expenses are reshaping decisions, especially among commercial drivers and small business owners. Rising fuel costs are prompting many Nigerians to see EVs as a survival strategy rather than a luxury option.

Chairman of the Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi-CNG & EV), Ismaeel Ahmed, explained that the removal of fuel subsidies has widened the cost gap between petrol-powered vehicles and EVs. Charging an EV for a 200-kilometre journey costs around ₦4,500, compared to roughly ₦22,500 for petrol vehicles — a difference that offers a “strong economic incentive” influencing consumer choices. Ahmed added that the federal government is pursuing a balanced transition strategy supporting both compressed natural gas (CNG) and electric vehicles to encourage sustainable energy alternatives.

Financial solutions are helping Nigerians overcome the high upfront costs of EVs. Mohammed Abdul, Divisional Head at Alternative Bank, noted that lease-to-own, pay-as-you-go, and partnership schemes are making EVs accessible to drivers in the informal transport sector. These financing models allow gradual adoption while easing financial burdens.