An ambitious initiative to convert one million vehicles and generators from petrol to Compressed Natural Gas (CNG) across the country has commenced.
The first phase of the campaign kicks off in Lagos from March 4 to March 7, 2025, with a rally aimed at educating Nigerians on the benefits of adopting CNG technology.
Kara Finance, a leading financial service provider in Nigeria, is behind the initiative.
“The benefits of CNG usage for vehicles and other engines are enormous. Our vision is to create sustainable energy solutions for Nigerians while driving the adoption of greener, cost-effective alternatives to traditional power sources.
“Hence, we are on a mission to convert one million vehicles and generators to CNG across Nigeria. This will create a cleaner environment while reducing the cost of power generation and transportation.
“By enabling this transition, we aim to improve the standard of living for everyday Nigerians,” Shehriyar Laghari, CEO of Kara Finance, said in a statement.
Laghari stated that there will be free CNG conversion inspections, live demonstrations, expert Q&A sessions, giveaways, including free CNG fill-ups, and a financing model for CNG conversion.
He also revealed that the firm has already financed the conversion of over 600 vehicles to CNG, with customers seeing fuel cost savings of over 80% after conversion.
“This significant reduction in energy costs proves that CNG adoption is not only an environmentally friendly choice but also a financially smart decision for individuals and businesses,” he noted.
Speaking further about financing CNG conversion, he said, “Unlike traditional financing models, Kara Finance’s Pay-As-You-Save approach ensures that customers repay their loans from the fuel savings they make after switching to CNG.
“This guarantees affordable repayments while still allowing customers to save significantly on their energy costs.”
Founded in 2021, the firm has evolved into one of Nigeria’s leading green energy finance providers, focusing on facilitating the transition from petrol and diesel engines to CNG, as well as promoting solar energy solutions for both transportation and power generation.
Jerry Wright-Ukwu @PoliticsToday
