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

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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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Toyota Motor Show Roars into Lagos Tomorrow with Test Drives, Debates, Free Diagnostics, Others

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2 days ago

June 1, 2026

Trends Admin

Toyota Motor Show Roars into Lagos Tomorrow with Test Drives, Debates, Free Diagnostics, Others

4-Day Festival Kicks Off June 2, No Admission Fees

If you have ever wanted to get behind the wheel of a Land Cruiser, grill a Toyota engineer, or win prizes while learning how your engine actually works, tomorrow is your day.

Toyota Nigeria Limited will throw open the gates for its annual Toyota Motor Show on Tuesday, June 2, 2026. And for four days, Lekki becomes the city’s biggest car park, debate stage, and hangout spot rolled into one. The show runs through Saturday, June 6, with a break on Friday, 5th June, according to the organisers, TNL.

Forget the usual “stand-and-stare” motor shows. TNL says it is going full experience:

Day 1: Tuesday, June 2 – See It, Drive It, Hear It
Doors open for open vehicle viewing. But the headline is _PodCARst_ going live – Toyota’s new podcast recorded on-site. First guest? Celebrity guest Soma, in conversation with execs. Think cars, culture, and no script.

Day 2: Wednesday, June 3 – Youth Takeover
This is for students and young professionals. Expect debate competitions, quiz battles, and hands-on workshops. Kate Henshaw, screen legend, will be on ground to meet fans and judge the action.

Toyota Motor Show Roars into Lagos Tomorrow with Test Drives, Debates, Free Diagnostics, Others

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Toyota By CFAO Launches 2026 RAV4 in Nigeria, Ends Long Wait for Latest Global Model

Published

3 days ago

June 1, 2026

Trends Admin

2026 Toyota RAV4

Toyota By CFAO Launches 2026 RAV4 in Nigeria, Ends Long Wait for Latest Global Model

Toyota-by-CFAO Nigeria has unveiled the all-new 2026 Toyota RAV4, bringing the latest generation of the globally acclaimed SUV to the Nigerian market in a move that signals a new era for local vehicle buyers.

For the first time, Nigerian customers will have access to the same-generation RAV4 available in leading international markets, eliminating the years-long delay that has traditionally separated local buyers from global launches.

The new SUV is backed by a three-year manufacturer’s warranty, Toyota-certified after-sales support and nationwide access to genuine spare parts, with customer deliveries already underway.

Speaking at the unveiling, Managing Director of Toyota-by-CFAO Nigeria, Boye Ajayi, said the company was raising the benchmark for vehicle ownership in the country.

“The 2026 RAV4 is here. Nigerian customers are no longer waiting years behind global markets or settling for older specifications. They are receiving the same vehicle available internationally, at the same time, with full manufacturer support,” Ajayi said.

Available in three variants — Active (2.0L 2WD), Comfort (2.0L 4WD) and Limited (2.0L 4WD) — the SUV is powered by a 2.0-litre DOHC petrol engine producing 172 horsepower and features Sport, Normal and Eco driving modes.

Designed to balance comfort, performance and practicality, the RAV4 offers a 481-litre cargo space, 201mm ground clearance and a 55-litre fuel tank suited for both city commuting and long-distance travel.

Standard features across the range include Apple CarPlay and Android Auto connectivity, dual-zone climate control, LED headlamps, 18-inch alloy wheels, SmartKey keyless entry, push-button start and a rear-view camera.

Toyota also equipped the SUV with an extensive safety package, including Anti-lock Braking System (ABS), Electronic Brakeforce Distribution (EBD), Vehicle Stability Control (VSC), hill-start assist and multiple airbags.

Toyota By CFAO Launches 2026 RAV4 in Nigeria, Ends Long Wait for Latest Global Model

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Carloha Rides High, Plans New EV for Nigeria After Winning Global Honours

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4 days ago

May 30, 2026

Trends Admin

Carloha Rides High, Plans New EV for Nigeria After Winning Global Honours

Carloha Nigeria, the authorised dealer of Chery vehicles in Nigeria, is strengthening its position in the country’s automotive industry after clinching two prestigious global awards as it unveils plans to introduce another electric vehicle (EV) into the market.

iCAUR (iCAR) is a global youth-oriented electric vehicle brand under the Chery Group, which was developed in partnership with SmartMi Tech. The brand is focused on stylish designs and smart mobility and it is currently expanding across international markets.

Carloha Nigeria received the New Star Award and Brand Leap Contribution Award at the 2026 Chery Global Summit and Beijing International Automotive Exhibition in China. This is in recognition of its rapid market growth, brand development efforts and customer engagement initiatives.

The international recognition comes as Carloha intensifies its push into Nigeria’s growing EV space, buoyed by the positive reception of the iCAUR brand among motorists, technology enthusiasts and environmentally conscious consumers.

Managing Director, Sola Adigun, said the awards validate the company’s commitment to delivering world-class automotive solutions, while the growing acceptance of iCAUR reflects increasing consumer interest in innovative and sustainable mobility options.

“The Nigerian automotive market is evolving, and consumers are becoming increasingly receptive to innovation, sustainability and smart mobility solutions.

“The success of iCAUR has encouraged us to continue investing in the future of electric mobility in Nigeria,” he said.

Adigun disclosed that plans for the launch of a new EV are at an advanced stage, describing the move as part of a broader strategy to expand consumer choice and support Nigeria’s transition to cleaner transportation.

He added, “Winning these awards on the global stage is a strong endorsement of the work our team has done in building the Chery brand in Nigeria.

“It also demonstrates that Nigerian automotive businesses can compete successfully with the best across the world.”

According to him, Nigerian customers are increasingly demanding vehicles that combine intelligent safety technologies, premium comfort, fuel efficiency and modern design, noting that these qualities were prominently showcased by Chery at the Beijing exhibition.

“Beyond selling vehicles, our goal is to provide mobility solutions that meet the evolving needs of Nigerian families and businesses while aligning with global trends in sustainability, innovation and customer experience,” Adigun said.

At Auto China 2026, Chery also showcased its latest safety and intelligent mobility technologies, including the all-new TIGGO V and its AiMOGA robotics innovations, under its new global brand philosophy, “For Family.”
General Manager, Felix Mahan, said the awards underscore Carloha Nigeria’s commitment to excellence and customer satisfaction, adding that the company’s CarlohaCare 6-6-7 package continues to offer customers industry-leading aftersales support through a six-year warranty, six years of free service and a seven-day repair promise.
“This recognition reflects growing international confidence in both the Nigerian market and our ability to deliver world-class customer experience. We remain committed to making vehicle ownership easier, more affordable and more rewarding for our customers,” Mahan said.
With fresh global recognition and an expanded EV strategy, Carloha is positioning itself as one of the key players driving the future of sustainable mobility in Nigeria.