VEHICLE OWNERS TO PAY N250,000 FOR FUEL-GAS CONVERSION
The federal government on Wednesday said car owners will have to pay up to N250,000 to convert their vehicles converted to run on gas.
Justice Derefaka, Technical Adviser on Gas Business and Policy Implementation to the Minister for Petroleum, Timipre Sylva disclosed this on during a tv program on Channels TV.
Earlier in September, the Government promised to convert Nigerian vehicles to run on gas for free to cushion the effect of the fuel price hike.
However, on Wednesday, stated that the owners of the car will bear the cost of the FUEL-GAS conversation.
“Who owns the car? The owner of the car basically will decide to say I want to run on autogas or CNG or LNG and like the honourable minister had mentioned before, conversion has basic strands, you can partner with your bank and the bank will now agree with the conversion centre to convert your vehicle, not for free entirely,” Derefaka said.
“The installer will now put some form of mechanism that each time you buy the gas; a certain amount will be deducted to pay for the conversion kit. Some people will say it is too expensive but I don’t think it is because, within a period of five to seven months, you’ve already paid off the cost.