News

FG Unveils N10bn Plan To Boost CNG Usage Through Consumer Credit

Published

2 years ago

October 16, 2024

The Federal Government on Wednesday unveiled a N10 billion plan that would boost the conversion of about one million additional vehicles to compressed natural gas usage and the adoption of solar energy through the provision of consumer credit to income earners.

To achieve this, the Ministry of Finance Incorporated, MOFI, Nigerian Consumer Credit Corporation, Credicorp, and the Presidential Initiative on Compressed Natural Gas, PICNG, have signed a deal that would make N2.5 billion fund available to finance the conversion of vehicles to CNG by private individuals.

The fund, known as the Credit Access for Light and Mobility (CALM) Fund, will provide affordable credit for Nigerians to obtain CNG conversion kits and other energy-saving solutions, making essential services more accessible to Nigerians while promoting sustainability.

Speaking at the signing ceremony in Abuja, Managing Director, MOFI, Dr. Armstrong Takang said the fund will enable Nigerians to obtain loans through Participating Financial Institutions, PFIs, providing a pathway to sustainable energy without the financial burden of upfront costs.

Takang disclosed that MOFI will aggregate and expand the consortium fund, collaborating with private and institutional investors to grow the initial N10 billion fund.

He explained that the fund is one of the measures being put in place to solve the unintended consequences of petrol subsidy removal which has led to a spike in the cost of transportation and high tariffs in the electricity sector.

“The good news is that the Federal Government has a solution to that which is the CNG programme but we also recognize the fact that it is not possible for us to have to pay for everything up front especially for items that are capital intensive.

“That is why the Federal Government came up with the programme of consumer credit and we established the Nigerian Consumer Credit Corporation, Credicorp. We believe Credicorp is very important as Nigerians. We do not need to have to afford the total amount to buy the basic items that we need every day whether it is in terms of trying to convert our cars to CNG, or having to pay for the conversion kit upfront. It is capital intensive and most people cannot afford it, yet they need it.

“The government has provided an opportunity to have access to credit to afford items such as that. We also have major challenges with the increase in electricity in our homes. Most of us are paying more now and it is creating a challenge in terms of affordability. The fund will also allow Nigerians to acquire credits for solar systems”, he stated.

Also speaking, the Director/CEO of PICNG, Engr. Michael Oluwagbemi said the fund will address the high cost of mobility by creating an avenue to convert their vehicles to CNG without having to pay for it immediately.

“Credicorp is partnering with us to launch this access for private individuals to afford the cost of conversion and the cost of conversion is quite elevated given our current realities. Beyond immediate access to consumer credit to access this conversion kit and conversion at PICNG accredited conversion centres through the PFIs, this also in the long run will encourage domestic manufacturing of the kits”, he stated.

Engr. Oluwagbemi noted that with the deal, the programme expects an additional 500,000 to one million vehicles to be converted in the coming months besides the initial one million vehicles target set at the beginning of the programme.

On his part, Managing Director, Credicorp, Engr. Uzoma Nwagba said the goal is to enable people to have a better life by accessing goods and services that they would normally have to save up for.

Nwagba said the programme is tailored for Nigerians with a steady income stream, such as workers in both public and private sector, as well as business owners.

He pointed out that the programme would boost the demand side CNG conversions and solar panels, ensuring that producers have markets for their products across the country.

News

Children’s Day: Chaos At Ogbe Stadium As Dozens Faint

Published

11 hours ago

May 27, 2026

Editor

Chaos erupted on Wednesday during the Children’s Day celebration as dozens of students reportedly collapsed following a stampede triggered by the use of pepper spray.

The event,
organised by the Edo State Ministry of Education at the Samuel Ogbemudia Stadium was disrupted after some male students of Ihogbe College allegedly made uncompromising advances towards female students at the venue.
‎
‎ A parent who identified himself as Oboh Emmanuel said, “the behaviour of those uncultured students attracted the attention of bouncers stationed at the stadium as they rebuked the male students.”
‎
‎Oboh said the affected students later regrouped and attacked the bouncers, leading to a confrontation within the crowded arena.

READ ALSO:Children’s Day: Edo Commits To Child Protection
‎
It was gathered that in the ensuing confusion, the bouncers were reported to have deployed pepper spray in an area occupied by a large number of students.
‎
‎Several students, particularly female students, reportedly fainted after inhaling the substance, while others sustained injuries after being stepped on during the ensuing melee.
‎
‎The panic was said to have spread across the stadium as students, teachers and parents scampered for safety.
‎
‎Many of the affected students were reportedly rushed to the Edo Specialist Hospital for medical attention.

Reacting to the incident, Chief Press Secretary to Governor Monday Okpebholo, Dr Patrick Ebojele, said the security personnel that fired the tear gas had been detained.

He said all the students, except two, that were rushed to the hospital have been discharged.

Ebojele stated that doctors wanted to observe the students till tomorrow before allowing them to go home.

“The two students are not seriously injured. Doctors want to observe them overnight. Permanent Secretary, Ministry of Education is still at the hospital. The man who used pepper spray has been detained.

“The incident did not happen the way it is being exaggerated. All modalities were put in place to ensure the children enjoyed their day.”
‎

News

Okpebholo Salutes Edo Muslims, Seeks Continued Support, Prayers

Published

12 hours ago

May 27, 2026

Editor

Governor Monday Okpebholo of Edo State has urged Muslims and all Nigerians to continue to pray for peace, unity and progress in the country even as they celebrate the annual Eid-al-Adha

The governor, who was represented by his deputy, Dennis Idahosa, stated this during the annual Eid-al-Adha celebration with Muslim faithfuls held at Government House in Benin City.

He reiterated his administration’s commitment to fairness, inclusivity and equal opportunities for all citizens irrespective of religion and tribe.

According to him, the present administration remains determined to building a government that reflects the diversity of Edo State, noting that competent and qualified Muslims have continued to play vital roles in his government because of their capacity, integrity and commitment to service.

“As a government, we remain committed to fairness, inclusivity and equal opportunity for every Edo citizen, irrespective of religion, ethnicity or political affiliation. This is why quality and competent Muslims are serving in key positions in our administration.”

Okpebholo appreciated the Muslim community in Edo State for their unwavering support and continuous prayers for his administration, noting that such prayers and support have contributed immensely to the peace and steady development being witnessed across the state.

He then called on all Nigerians to use the occasion of Eid-al-Adha to pray for the administration of President Bola Ahmed Tinubu, stressing that the country needs collective prayers, unity and cooperation to overcome its present economic and security challenges.

“I urge all Muslims and indeed all Nigerians to use this occasion to pray for our dear nation and for the administration of President Bola Ahmed Tinubu. Nigeria needs our collective prayers, unity and support as we strive to overcome our challenges and build a more prosperous future for all.”

In his remarks, the Chief Imam of Edo State, Abdulfatai Enabulele, applauded the governor for what he described as remarkable developmental strides recorded in less than two years in office.

The cleric commended the administration for ongoing infrastructural development and efforts geared towards improving governance in the state, but appealed to the government to revisit and complete some abandoned projects inherited from the previous administration for the benefit of the people.

News

Children’s Day: Edo Commits To Child Protection

Published

12 hours ago

May 27, 2026

Editor

The Edo State Government has reaffirmed its commitment to protecting the rights of children, promoting quality education, and strengthening sports development across the state.

This assurance was given by the governor of Edo State, Monday Okpebholo, during the 2026 Children’s Day Celebration and Governor’s Cup Finale held on Wednesday at the Samuel Ogbemudia Stadium, Benin City.

Addressing pupils, students and teachers,
the governor described children as the pride of Edo State and the future of the nation.

The governor, represented by his deputy, Dennis Idahosa,
noted that the annual celebration provides an opportunity to honour their dreams, talents, and limitless potential.

Speaking on this year’s Children’s Day theme, “Choose Kindness, Reject Bullying,” the governor said the message was timely and significant, as it emphasizes the need to create safe, supportive, and inclusive environments for children both in schools and communities.

He stated that bullying in all forms — physical, verbal, emotional, or online — has no place in society, adding that the Edo State Government remains fully committed to protecting the rights and dignity of every child.

According to him, the administration will continue to strengthen policies and programmes that promote child protection, discipline, mutual respect, and positive learning environments across schools in the State.

The governor urged children to embrace kindness, compassion, teamwork, and respect for one another, stressing that true strength lies not in intimidation but in empathy, good character, and mutual understanding.