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Alternative Fuel: IPMAN Seeks Loan for Gas Conversion Stations
By Adedapo Adesanya
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has written to the federal government to release the N250 billion intervention fund for the National Gas Expansion Programme (NGEP) as loans to vehicle owners to acquire gas conversion kits.
The group called on the central government and the Central Bank of Nigeria (CBN) in a letter signed by the National President of IPMAN, Mr Chinedu Okonkwo, and addressed to the Minister of Finance, Ms Zainab Ahmed, pleading for the establishment of about 30,000 gas conversion stations, noting that the facilities would be used to cushion the impact of fuel subsidy removal.
IPMAN further said that it had applied to CBN through the NIRSAL Microfinance Bank for a partnership to develop a finance scheme for qualified Nigerians to access the gas expansion facility to convert their vehicles and need the support of the federal ministry to conclude with CBN NIRSAL Microfinance Bank.
According to it, the gas expansion fund was envisaged to support the increased utilisation of natural gas in Nigeria, and access to the funds by qualified vehicle owners would support and justify IPMAN members making the required investment along the natural gas value chain to deliver gas to vehicles. It added that the strategy would provide a cushion to Nigerians from the shock of high petrol prices when the subsidy is removed.
It added that it would significantly reduce the need for foreign exchange to import petrol.
“We are writing to request an audience with you to present a palliative solution to cushion the impact of the removal of the unsustainable petrol subsidy.
“Our partners, Gas Analytics & Solutions Ltd, has an agreement with the independent Petroleum Marketers Association of Nigeria to co-locate natural gas dispensers on our network of over 30,000 filling stations in Nigeria.
“This collaboration with IPMAN presents the most economical and expedient platform to deploy the necessary infrastructure to support a fast national roll-out of CNG (Compressed Natural Gas) for vehicles,” the organisation said.
It added: “Furthermore, CNG emits 30 to 60 per cent less Green House Gases than petrol and diesel, making it more appealing to attracting additional financing from international and regional development finance institutions that are disposed to supporting natural gas utilisation projects compared to petrol refineries.”
“What is left is the support of the Central Bank of Nigeria to provide access to the Gas Expansion Fund for vehicles, Keke, and truck owners to access loans to finance the acquisition of natural gas conversion kits,” the oil marketers stated. “Without a large pool of CNG customers, IPMAN will not be able to raise funds required to set up CNG filling stations.
“We believe that with the support of the Ministry of Finance, IPMAN’s partnership with Gas Analytics will provide a platform that can, in a matter of a few months, cushion the impact of petrol subsidy removal and significantly reduce the need for foreign exchange to import petrol.”
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inDrive Backs Smart Mobility Innovation With AOT Lagos 7.0 Sponsorship
By Modupe Gbadeyanka
The 2025 edition of the Art of Technology (AOT) Lagos is going to be bigger and better with the inclusion of inDrive as its official sponsor.
The AOT Lagos 7.0, themed Future Technologies and a Sustainable Lagos, is scheduled for Thursday, December 4, 2025, at the Landmark Centre, Lagos.
inDrive, a leading global ride-hailing platform operating in nine African countries, is partnering with the Lagos State government to bring together policymakers, innovators, tech founders, investors, and global industry leaders to shape the future of technology and digital transformation in Lagos.
Through this collaboration, inDrive aims to contribute to high-level conversations on driver empowerment, sustainable transport models, safety, and affordability, key challenges affecting millions of daily commuters and mobility service providers in the state.
According to the Country Representative of inDrive Nigeria, Mr Timothy Oladimeji, the sponsorship underscores the company’s deep commitment to advancing equitable mobility systems and supporting conversations that drive long-term impact across the transportation ecosystem.
He noted that inDrive sees AOT Lagos as a critical platform for addressing mobility challenges and accelerating innovation within the state.
During the event, inDrive will be participating in one of the key sessions, discussing the topic From fuel to future: the rise of e-mobility in Lagos.
Aside from this, inDrive will also be hosting a side workshop themed The Market Share Victory – How inDrive Became Nigeria’s Second-Largest Ride-Hailing Player.
“We are proud to sponsor AOT Lagos 7.0 because it aligns perfectly with our vision to democratise mobility and ensure fairness for both drivers and riders.
“As Lagos moves toward a smarter, more sustainable mobility future, inDrive is committed to supporting solutions that prioritise affordability, safety, driver empowerment, and technological readiness.
“Through this partnership, we hope to contribute meaningfully to shaping policies and ideas that will redefine how millions of people move across the state,” he said.
Now in its seventh edition, AOT Lagos has evolved into a premier platform for advancing smart-city innovation, showcasing emerging technologies, and influencing the policy frameworks that shape the digital economy in Africa’s largest city.
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FG to Open Section of Lagos-Calabar Coastal Highway December 12
By Adedapo Adesanya
The federal government is set to open Section 1 of the 700 km Lagos-Calabar Coastal Highway for public use from December 12 to 17, 2025.
The Minister of Works, Mr Dave Umahi, gave the assurance on Sunday in Lagos during a review of outstanding works on Section 1 of the highway project.
The section 1 is 47.47km long and has six lanes and two carriageways.
Mr Umahi said: “We also set aside April next year to have Section 1 and half of Section 2 fully completed and commissioned,” adding that the contractor handling the project, Hitech Construction Company Limited, had achieved more than 80 per cent of the reinforced concrete pavement.
“We are very grateful to God Almighty for his mercies, and to the President and to the contractor.
“If we are to pay for everything they have done, it will be very difficult to have this job done because there are places we didn’t envisage that we were going to be removing pits up to a depth of 20 metres.
“They had to do that because they are partners in progress for the development of the country.
“We have just about three kilometres to complete the entire sand filling from Ahmadu Bello Way to Eleko Junction, and we are excited at the work and the quality of what has been done,” the former Governor of Ebonyi State, said.
The new Controller of Works in Lagos, Mr Olufemi Dare, told the minister that a lot of settling was ongoing at Chainage 33 of the highway project, praising the contractor for high quality of work.
“Sir, it may interest you to know that the building standing is the palace of this community, and you saved this building, and they are extremely happy,” he said.
On his part, the Managing Director of Hitech Construction Company Limited, Mr Dany Abboud, said that the company would still backfill from Chainage 34 to Chainage 37.
“Dredging is ongoing, we are on track to deliver.
“We are monitoring the settlement in the swampy areas and the water body areas due to the change of alignment,” he said.
The highway, which commenced construction in March 2024, has generated a lot of controversy, with critics raising concern around cost and procurement structure.
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Nord Vehicle Owner Accuses Nigerian Bank of Economic Sabotage
By Modupe Gbadeyanka
A Nigerian lender has been accused of frustrating local business owners by not financing Made-in-Nigeria vehicles but promoting the purchase of foreign vehicles.
This allegation was made by the owner of a local vehicle assembly firm, Nord Motion, Mr Oluwatobi Ajayi, in a post on X, formerly known as Twitter.
He described this as an economic sabotage, stressing that this action does not encourage local investors.
“A business owner in the oil and gas sector approached us that he would like to buy two units of the @nordmotion Max pickup for his company. Apparently, he was impressed with the vehicle after some rides with his peers in the sector.
“To my shock, yesterday, my team told me that the bank, a bank operating in Nigeria told him that they do not finance Made-in-Nigeria vehicles, and they even suggested to our customer that he should go for foreign brands instead.
“The most provocative part of this is that all of the brands they suggested to him identified as Made-in-Nigeria brands in their filings with the Bureau of Public Procurement (BPP), which means they decide who they want to be whenever it suits them.
“This is yet another example of the needless sabotage and institutional bias against Nigerian manufacturers and assemblers that we experience in this sector.
“The President aims to grow us into a $1 trillion economy. Nigerians want to buy Made-in-Nigeria products, we are working very hard to produce world-class vehicles, but some banks, who should play the role of credit facilitators, are displaying open prejudice against locally made vehicles.
“What sort of economic sabotage is this?
“Many of us who continue to assemble and manufacture vehicles here do so not just for profit, but out of patriotism and belief in the long game. We see this as a marathon, not a sprint.
“We cannot continue using Nigerian resources to strengthen foreign factories while starving our own indigenous companies of opportunities.
“If we truly want this country to be better, then we must support goods and services made in Nigeria, especially those of us who have shown we can deliver world-class standards. The support has to be real, not just in words, but in policy, in finance, and in action.
“Every time we deny support for local production, we export jobs, skills, and economic growth that should belong here,” he narrated.
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