Economy
Sustainable Transportation: There Is No Going Back On CNG – FG

Stakeholders say they are optimistic about the future of sustainable transportation, envisioning a greener, more efficient road transport system.
With fuel subsidy gone, the Nigerian government has been seeking new avenues to cushion the economic effect on citizens with regards to cost of transportation, and one of such initiatives is the drive towards Compressed Natural Gas (CNG) which stakeholders now believe will be a more sustainable and economical fuel alternative in Nigeria.
At a recent forum in Abuja key stakeholders having deliberated for hours, concluded that there is no going back on the adoption of CNG as it avails Nigerians a more cost efficient fuel which is friendly to their purses and to the environment.
At the stakeholders meeting convened by the Presidential Initiative on CNG (PCNGI) and Portland Gas, in partnership with the National Agency for Science and Engineering Infrastructure (NASENI), it was agreed that the adoption of CNG is a more sustainable way to transform the nation’s transport system.
Tosin Coker – a representative of Engr. Michael Oluwagbemi, head of the PCNGI, opened the session by emphasizing the government’s dedication to promoting CNG as a viable and sustainable alternative to traditional fuels.
Mr Coker highlighted the potential of CNG to significantly reduce carbon emissions and improve the overall efficiency of Nigeria’s transportation sector.
He further revealed that the federal government is offering subsidy for public transporters to convert their vehicles to compressed natural gas as part of effort to accelerate the adoption of CNG to reduce the use of premium motor spirit.
Stakeholders had lamented that it would cost between N1.2 million and N1.5 million for the kits required to convert petrol or diesel-powered vehicles to start running on CNG, however, Mr Coker in assuaging theses fears, revealed that the government has attracted foreign investment to the tune of 50 million dollars and as such interventions will be implemented to reduce the conversion cost.
Chief Aloga Ogbogo, Executive Secretary of the Road Transport Owners, spoke on the practical benefits of CNG for road transport operators. He underscored the economic advantages, noting that CNG adoption would lead to lower operational costs. He also called for an increased government support to ensure a smooth transition to CNG across the transport sector.
Providing insights into the technical support and infrastructure development necessary for the widespread adoption of CNG, Mr. Folajimi Mohammed, Managing Director of Portland Gas, assured stakeholders of Portland Gas’s commitment to facilitating this transition.
He noted that as partners with the government, all necessary infrastructure and technical expertise to ensure a smooth and efficient transition to CNG for transportation in Nigeria will be made available.
The meeting concluded with a consensus on the urgent need for collaborative efforts to accelerate CNG adoption in Nigeria even as stakeholders say they are optimistic about the future of sustainable transportation, envisioning a greener, more efficient road transport system.
Economy
SEE Black Market Dollar To Naira Exchange Rate Today 3rd April 2025

NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means that…you can buy or sell 1 dollar at a certain rate and the price can change (high or low) within hours.
The official naira black market exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
As of now, you can purchase 1 dollar at a certain rate now, however, it’s important to remember that the rate can shift (either upwards or downwards) within hours.
What’s the dollar to naira black market today 3rd April 2025?
The local currency (abokiFx) opened at ₦1,560.00 per $1 at the parallel market, otherwise known as the black market, today, Thursday, 3 April 2025, in Lagos, Nigeria, after it closed at ₦1,550.00 per $1 on Wednesday, 2 April 2025.
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate of $1 ₦1,545
Selling Rate of $1 ₦1,555
Please note that Nigeria’s black market dollar-to-naira exchange rate is typically higher than the official exchange rate because the Federal Government does not regulate it. The rates you buy or sell forex may differ from what is captured in this article because prices vary.
What is the official exchange rate for dollar to naira today? Here is the dollar to naira CBN rate today
Dollar to Naira (USD to NGN) CBN Rate Today
Buying Rate of $1 ₦1,530
Selling Rate of $1 ₦1,531
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Economy
Naira rebounces against the dollar in parallel market

Naira appreciated against the dollar on Wednesday at the official foreign exchange market after the Eid-el-Fitr holidays.
The Central Bank of Nigeria’s data showed that the naira strengthened to N1,531.25 per dollar on Wednesday from N1,536.82 recorded last Friday.
This means that the naira gained N5.57 per dollar on a day-to-day basis.
Meanwhile, on the black market, the naira depreciated to N1,555 per dollar on Wednesday from N1,550 traded on Friday before the Eid-el-Fitr holidays.
Meanwhile, recall that over the weekend, the Central Bank of Nigeria announced that the Net Foreign Exchange Reserve, NFER, stood at $23.11 billion, the highest level in over three years.
Economy
CBN denies N5,000, N10,000 banknote rumour

The Central Bank of Nigeria (CBN) has dismissed claims that it has introduced new N5,000 and N10,000 notes, labeling the reports as false.
In a statement posted on X on Wednesday, the apex bank debunked the rumors, stating: “This content is NOT from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng.”
The clarification comes amid widespread misinformation suggesting that the CBN planned to roll out high-denomination banknotes to reduce cash-handling costs and improve liquidity management.
Some versions of the false reports even attributed comments to a supposed Deputy Governor, Dr. Ibrahim Tahir Jr., claiming the notes would be introduced on May 1, 2025.
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