The Managing Director of the agency, Emeka Agbasi disclosed this shortly after signing a Memorandum of Understanding, MoU with the Programme Director of the Presidential Compressed Natural Gas initiative, PCNGI, Michael Oluwagbemi in Abuja.
FERMA is the first government agency to make its operational vehicles CNG-enabled.
Agbasi noted that with the number of operation whicker in FERMA’s fleet, it had become imperative to cut the cost of premium motor spirit and diesel which he said had in the past contributed substantially to the recurrent expenditure of the agency.
Commending FERMA for the initiative of converting its vehicles, the Programme Director of PCNGI, Michael Oluwagbemi said with the conversion of FERMA’s fleet, the agency will cut its expenditure by between forty to seventy percent.
According to him, the initiative will convert all commercial vehicles owned by road transport unions free of charge, while it will subsidise ride hailing companies by fifty percent to convert their vehicles.
