The Federal Government has commenced the free conversion of petrol and diesel-powered commercial vehicles to compressed natural gas in a bid to cut the cost of transportation nationwide.

It started the exercise in Abuja and Lagos, urging commercial transport owners to key into the scheme by bringing their vehicles to be converted, stressing that the use of CNG would reduce the cost of transportation by over 40 per cent.

Officials of the Federal Ministry of Information and National Orientation, along with those from the Presidential Compressed Natural Gas Initiative, monitored the commencement of the exercise at the Federal Capital Territory, as transporters brought in their vehicles to be converted.

The Federal Government had earlier declared on Thursday that the conversion of petrol and diesel-powered commercial vehicles to run on compressed natural gas was going to be free of charge.

It made this public in Abujall after signing agreements with various companies involved in the conversion of petrol and diesel-powered vehicles to operate on CNG.

It said commercial transporters under their different unions, including the Road Transport Employers Association of Nigeria, the National Union of Road Transport Workers, and the and the Nigerian Association of Road Transport Owners, among others, would benefit from this.

The Programme Director/Chief Executive, Presidential Compressed Natural Gas Initiative, Michael Oluwagbemi, had disclosed this to journalists after the government agency signed agreements with various companies in Abuja.

Speaking at one of the conversion centres during the commencement of the exercise on Friday, the Sales and Business Development Manager, P-CNGI, Lara Ogunleye, said, “Today (Friday), we are at the NASENI Portland Conversion Centre where we have started the conversion for commercial vehicles. The first one that we have seen is from the e-hailing cabs that are part of the conversion scheme.

“The e-hailing cabs are supposed to pay a fraction of the cost of the conversion, while the transport associations have 100 per cent conversion free charge, and the cost of the kits is also 100 per cent free. Today we have started with the e-hailing cabs and the scheme is going to be done across the federation.

“We are starting with Abuja and Lagos. We will keep rolling it out and the announcements will be made as we keep moving to each of the states.”

On the number of cars to be converted nationwide, she said, “We intend to convert over a million cars within the first 12 months. So the conversion cost is free for transport associations, as well as the cost of kits.

“For e-hailing cabs, they are paying a fraction of the cost of the kits, and they are paying 100 per cent of the cost of conversion.”

She added that, “The fraction depends on the location. Right now, we are in Abuja, and they have their own fraction. For private individuals, the cost of conversion differs. It depends on the type of car and the size of the cylinder that goes into your vehicle. But it ranges from N700,000 to about N1.8m.”

Ogunleye urged transporters to take advantage of the offer, as this would help in crashing the cost of transportation across the country.

“So for transport owners across the federation, the cost of conversion is 100 per cent free for you.

“Please go to your transport associations, key in, and as we go to your locations, we will register you, take all your details, advise on the conversion centres that you can go to, present your vehicle, and get a free conversion. All of this is courtesy of the President,” she explained.

Speaking at another conversion centre in Abuja, Udechukwu Ejike, a Bolt driver, explained why he decided to convert his car from the use of petrol to CNG.

“I’m doing this because petrol is far higher in cost than CNG. For instance, in a day I buy petrol of about N25,000 to N30,000, but with CNG I’m to spend between N3,500 and N7,000. I’m happy with this initiative, and I advise everyone to consider converting their vehicles from petrol usage to CNG. It is very cheap and good,” he stated.

Other commercial transporters at the centres alluded to the position of Ejike as they expressed optimism that more of their colleagues would convert their vehicles and help reduce the cost of transportation across the country.

Karl Toriola, chief executive officer (CEO) of MTN Nigeria, says the country’s telecommunications sector is “in a deep crisis”.

Toriola spoke on Tuesday at the telecom investment forum organised by Financial Derivatives Company (FDC) in Lagos.

The telco CEO pointed out the severe sustainability challenges currently faced by telecom operators across the country.

He said despite the growth over the past two decades of liberalisation, the sector is now threatened by rising costs and unsustainable pricing.

Toriola said a price increase has become imperative, stressing that it is now an “absolute necessity”.

He said there is an urgent need to rescue the sector from collapse as it is “in an intensive care unit”.

Speaking on the viability of continued investment in the telecoms sector, Toriola said a fundamental challenge is that the financial returns expected from the industry are now “so low that they threaten its very survival”.

“Nobody is going to put in $1 with the expected return of 60 cents on the dollar,” he said.

Toriola, stressing the need for the sector’s revival, said without apt changes, the flow of new investment into the sector could dry up entirely.

He said the static pricing is no longer tenable.

“There’s no way under the surface of the earth, in the kind of inflationary environment and forex devaluation that we’ve seen, that an industry can maintain prices the same for 11 years,” he said.

“The telecoms sector has faced escalating costs across the board — from the cost of capital to the soaring expenses of maintaining infrastructure like base stations and diesel generators.

“Without adjustments to pricing, the industry’s ability to function and attract investment is in jeopardy.”

Although he acknowledged recent progress in discussions with regulatory authorities, Toriola said the challenges faced remain critical.

He said stakeholders are beginning to understand the depth of the crisis and are considering necessary interventions, including price increases and concessions.

Toriola said “qualitative action needs to be swift and decisive to prevent the collapse of this industry” as time is of the essence.

…BOOSTING ECONOMIC GROWTH IN BAYELSA STATE

The highly anticipated Governor Douye Diri Preseason Tournament has commenced in Yenagoa, Bayelsa State, bringing with it a surge in economic activity and excitement for football fans.

The tournament, which kicked off on Monday, August 12, 2024, at the Samson Siasia Stadium, has already started to make a significant impact on the local economy. Hotels, restaurants, and other hospitality services are experiencing a boom in bookings and sales, while local businesses are benefiting from increased sales and exposure.

The tournament’s opening match between Sunshine Stars and Bayelsa United set the tone for an exciting competition, with Sunshine Stars emerging victorious with a 1-0 win.

Economic Growth

The Governor Douye Diri Preseason Tournament is expected to inject a substantial amount of revenue into the Bayelsa State economy, creating a positive impact on the lives of residents and businesses.

SPORTS TOURISM

The tournament is also promoting sports tourism in Bayelsa State, showcasing the state’s rich cultural heritage and world-class sports facilities to a national audience.

FOOTBALL FRENZY

With seven topflight Nigeria Premier Football League teams participating, the tournament promises to deliver thrilling matches, stunning skills, and nail-biting finishes, entertaining fans and football enthusiasts alike.

GOVERNOR’S VISION

Governor Douye Diri’s vision for the tournament is to promote economic growth, sports development, and tourism in Bayelsa State, and the tournament’s kickoff marks a significant step towards achieving this goal.

Fostering Synergies: Networking between Premiership Clubs and Bayelsa State’s Grassroots Football and Academies

The Governor Douye Diri Preseason Tournament presents a unique opportunity for Premiership clubs to connect with Bayelsa State’s thriving grassroots football scene and academies. This synergy can yield numerous benefits, including:

– TALENT IDENTIFICATION: Premiership clubs can scout and identify talented young players from Bayelsa State’s grassroots football and academies, potentially leading to new signings and opportunities for local players.
– KNOWLEDGE SHARING: Coaches and trainers from Premiership clubs can share expertise and best practices with their counterparts in Bayelsa State, enhancing coaching standards and player DEVELOPMENT.
– PARTNERSHIPS AND COLLABORATIONS: Premiership clubs can explore partnerships with Bayelsa State’s grassroots football and academies, leading to joint training programs, friendly matches, and other collaborative initiatives.
– Community Engagement: Premiership clubs can engage with local communities in Bayelsa State, promoting football development and social responsibility initiatives.
– Youth Development: The tournament can serve as a platform for Premiership clubs to support youth football development in Bayelsa State, contributing to the growth of the sport and nurturing future talent.

Some potential affiliations and partnerships include:

– Bayelsa United FC: The state-owned club can partner with Premiership clubs for training and development programs, player exchanges, and coaching collaborations.
– Bayelsa State Football Academy: This academy can serve as a feeder system for Premiership clubs, providing a pipeline for talented young players to progress to the top level.
– Grassroots Football Initiatives: Premiership clubs can support local grassroots football initiatives, such as the Bayelsa State Primary Schools Football Championship, to promote football development and identify talented young players.

By fostering these connections, the Governor Douye Diri Preseason Tournament can have a lasting impact on football development in Bayelsa State, creating a win-win situation for all parties involved.

Join the Excitement

Don’t miss out on the fun, excitement, and economic benefits of the Governor Douye Diri Preseason Tournament. Come and experience the beauty of Bayelsa State, the warmth of its people, and the passion of Nigerian football!