From Premium Times Nigeria · Kabir Yusuf · · 2m
120,000 vehicles converted under Tinubu’s CNG initiative
Minister Idris reports 120,000 vehicles converted under Tinubu’s CNG initiative with $2.5bn private investment.
In brief
Minister Idris reports 120,000 vehicles converted under Tinubu’s CNG initiative with $2.5bn private investment. Nigeria’s CNG initiative has converted over 120,000 vehicles, attracted $2.5bn private investment, and created economic opportunities. Originally reported by Premium Times Nigeria.
CNG initiative progress
Minister of Information and National Orientation Mohammed Idris reported over 120,000 vehicles converted under the initiative.
Infrastructure development
The initiative has established over 400 certified conversion centres and more than 90 refuelling stations nationwide.
Investment figures
The programme attracted about $2.5 billion in private investment and approximately N250 billion in government funding.
Economic indicators
Nigeria’s inflation rate fell from 27 per cent in January 2025 to 15 per cent, with external reserves exceeding $54 billion.
Economic growth
The economy is projected to grow by more than 4 per cent in 2026, with current account surplus rising to $12 billion.
Conversion challenges
Converting vehicles costs between N750,000 and N2.5 million, creating barriers for motorists despite economic benefits.
Infrastructure projects
The government’s four Legacy Projects cover 3,000 kilometres across six geopolitical zones and include a N1.5 trillion highway project in Niger State.
Agricultural support
The government is supporting mechanisation, irrigation, and agricultural financing to increase domestic production and reduce food costs.
Healthcare expansion
Two additional cancer treatment centres have been commissioned, bringing the total to five nationwide.
Education funding
The Nigerian Education Loan Fund supported over 1.6 million students with N192 billion in tuition fees and N180 billion in upkeep allowances.
Technical talent program
The Three Million Technical Talent programme is expanding digital skills opportunities for young Nigerians.
Economic reforms
The government attributes improved economic indicators to its reforms, creating conditions for sustained growth and stability.
Cost of living concerns
The minister acknowledged households continue to face cost-of-living pressures despite economic improvements.
Future goals
The government aims to consolidate economic gains and accelerate their impact across the country through continued reforms.
The short version
Nigeria’s CNG initiative has converted over 120,000 vehicles, attracted $2.5bn private investment, and created economic opportunities.
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