Innoson Vehicle Manufacturing (IVM), has said it would establish car fuel conversion in all its service centres before the end of 2023.
Currently, the vehicle manufacturer is converting only vehicles produced by the company from fuel to Compressed Natural Gas (CNG) to suit the current economic situation occasioned by the removal of the fuel subsidy.
The pronouncement by President Bola Tinubu during his swearing in speech that ‘fuel subsidy was gone’ had led to a hike in the pump price of fuel from N197 to over N500 before it was further increased to N617 per litre by the NNPC Limited.
Speaking on Monday in Onitsha, Head of Corporate Communications at Innoson Group, Mr Cornel Osigwe, said CNG vehicles are more durable, easier to maintain than petrol vehicles and the gas is cheaper than petrol.
Osigwe added that the challenges associated with cars or vehicles converted to CNG was that they were easier to maintain and more environmentally friendly.
“It is more environmentally friendly than petrol vehicles; Nigeria has a large abundance of gas.
“We just want other industry players to come in and take advantage of this opportunity and it will be better for Nigeria’s economy as we have it now”, he said.
When asked about the cost of converting a car or vehicle from fuel or diesel to a CNG, he noted that when there was huge demand for conversion, the price would automatically go down.
“But I believe that it is what an average vehicle user can afford,” he said.
