FG Mobilises $1.02 bn to Convert Vehicles to CNG

FG (formerly FuelGen) announced a $1.02 billion financing plan to convert a fleet of vehicles—primarily buses, trucks and municipal fleets—to run on compressed natural gas (CNG). The program, funded through a mix of private investment, government grants and green bonds, aims to replace diesel engines with CNG systems, cutting emissions by up to 30 % and supporting national clean‑fuel targets. The rollout is scheduled to begin in 2024, with an initial conversion of 5,000 vehicles and a goal of reaching 20,000 by 2027. Views Nigeria