President Muhammadu Buhari, yesterday, launched a program that would enable no less than 40 percent of vehicles plying Nigerian roads to run on compressed natural gas.
By 2021, the country shall have converted a million cars to cushion impacts of petroleum subsidy removal, which government said, gulped trillions of naira yearly.
During the virtual launch of the National Gas Expansion Programme and National Autogas Roll-out Initiative at the State House, Abuja, Buhari, noted that the development would enable domestic utilisation of the country’s 203 trillion cubic feet (TCF) of gas.
He stated: “Let me now express my deep appreciation to Nigerians for their patience, and Organised Labour for its maturity and patriotism, as we collectively navigate these global economic and other challenges.
On the need for alternative, the President said: “It is no longer news that the vast natural gas resources, which Nigeria is endowed with, have hitherto been used sub-optimally as a result of dearth of gas processing facilities and infrastructure connectivity for effective and optimal domestic utilisation.
“As I mentioned above, with a proven reserve of about 203 trillion cubic feet (TCF) and the additional upside of 600 TCF ranking Nigeria as the ninth in the world currently, the need for domestic gas expansion and utilisation is apparent.”
He said the new development was not only going to ease the hardship arising from the deregulation of the downstream petroleum sector but would also serve as a veritable medium to a cleaner environment, job creation and catalyst for the growth of the Nigerian economy.