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Access CALM Fund To Convert Vehicles To CNG, FG Urges Nigerians

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The Presidential Compressed Natural Gas Initiative (P-CNGi), has urged Nigerians to explore the Credit Access for Light and Mobility (CALM) fund to obtain affordable loans to convert petrol cars to CNG.
The P-CNGi said the CALM fund, being disbursed through the Nigerian Consumer Credit Corporation (CREDICORP) initiative, was aimed at enabling consumer credit for CNG conversions and solar energy.
Mr Michael Oluwagbemi, the Programme Director/Chief Executive, P-CNGi, in an interview with The Tide’s source in Abuja on Sunday, described the CREDICORP initiative as its third programme aimed at enabling CNG kits affordability.
The Tide recalls that in response to the growing financial strain on Nigerians due to high energy and transportation costs, the Ministry of Finance Incorporated (MOFI), CREDICORP, and the P-CNGi in 2024 unveiled the fund.
This new fund aims to 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.
To ensure affordability, the Federal Government, through the P-CNGi had rolled out three programmes namely – free conversion of mass transit vehicles, targeting one million by 2027, Ride-shares vehicles’ 50 per cent discount conversion and CALM fund
Oluwagbemi said the CALM fund would enable Nigerians to obtain loans through the Participating Financial Institutions (PFIs), providing a pathway to sustainable energy without the financial burden of upfront costs.
He explained that under the CREDICORP fund, Nigerians, who owned private vehicles, especially the salary earners and entrepreneurs were linked up to get money upfront for conversion based on their income levels.
Oluwagbemi, while urging Nigerians to explore the ample opportunity by applying online on www.credicorp.ng, said soon, there would be an opportunity for motorists to access it from the 193 CNG conversion centres across the country.
According to him, the CREDICORP does not set interest rates; rather it gives money to the financial institutions which set the interest rate based on the person’s risk.
He further said that the conversion would be financed based on one’s income, while loan repayment duration would be three years.
“This programme is suitable for the top 10 per cent of Nigerians, who use private cars and most of them are civil servants who earn salaries and work as entrepreneurs.
“If you are spending N70, 000 to N80, 000 per week, it means that in 52 weeks you will be spending N3.64 million on petrol.
“If you decide to use CNG exclusively, in 52 weeks you spend N353, 000, that means you are saving a lot of money, but you cannot generate that savings unless you convert your cars.
“Conversion ranges from N800, 000 to N1.2 million and the loan will be given according to the kind of car one has, while the conversion will be financed based on your income level
“There’s no reason why one cannot afford it because you are saving N50, 000 to N100, 000 weekly, because you have converted your vehicle, and part of the savings can be used for repayment.
He said that President Bola Tinubu in 2024 had set a goal for the initiative to achieve one million conversions of vehicles in 2027, adding that not all cars were convertible and compatible.
“We signed an agreement with the conversion centres, we are in the process of finalising that programme, as soon as we finalise it, you can drive into any of the centres for vehicle inspection and financing, instead of going online.
“Initially we set up the website to know the level of interest and we have received a number of interest and more than 25,000 people have applied,’’ he said.
He assured that the CNG would remain the sustainable energy source, adding that there was no way natural gas would be as expensive as crude oil in the world.
According to him, the programme is focused on three specific things in terms of execution, namely, conversion, platform for deployment of buses and tricycles, running on CNG and enabling refueling infrastructure.

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Independence Anniversary:  Nigeria Is A Failed Grandfather – Monarch 

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A first class traditional ruler in Rivers State, His Royal Majesty, King Aaron Ikuru, has described Nigeria at 65 as a grandfather who cannot provide leadership to other African Countries.

The monarch  stated this in an interview at his palace in Ikuru Town, yesterday.

According to him, Nigeria would have been a  developed country to set the pace in the whole of Africa, considering its numerous resources.

“Nigeria is a grandfather but not behaving as a grandfather. Our country, Nigeria, before and from the era of Independence was in the state of becoming a great country, but unfortunately is not becoming anything.

“We should be far ahead with what we have in the country. God blessed us, we have almost what it takes in terms of mineral resources, manpower amongst others that can drive speedy development in the country.

“If we’re able to harness all the things we have, even America by now would have respected us”, he  said.

While blaming the past leaders of the country, the monarch called on the current leadership of the country to redouble efforts in order to narrow the differences in terms of development, exchange rate between naira and foreign currencies.

King Ikuru, who is also the Chairman of Andoni Area Traditional Rulers Council, however, lauded the efforts of the founding fathers, past leaders of the country for the achievements so  far.

He also expressed optimism that Nigeria would be great, calling on the opinion leaders to shun tribalism and political intolerance in the country.

 

“If Nigeria should experience rapid development in all sectors, it means we must shun tribalism and political intolerance, the interest of our country must be our priority.

“We need to fight corruption vigorously, and leaders must show good example of discipline and integrity”, he said.

The monarch used the opportunity to wish Nigeria happy independence anniversary.

By: Enoch Epelle 

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FG begins payment of N32,000 pension increment to retirees – PTAD

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The Pension Transitional Arrangement Directorate has announced the start of implementation of the new pension increments for pensioners under the Defined Benefit Scheme, saying the adjustments will be reflected in the September 2025 payroll cycle.

In a statement signed by Management and posted on its X handle, PTAD said the increase package includes a fixed N32,000 payment alongside percentage increases of 10.66% and 12.95% for eligible categories, which will benefit about 832,000 pensioners under its management.

Recall that PTAD in August announced President Bola Tinubu approved a series of measures, including new welfare benefits for pensioners under DBS.

The approval follows a formal request by PTAD’s Executive Secretary, Tolulope Odunaiya, seeking an emergency budgetary allocation to implement pension reforms and welfare benefits for the scheme’s retirees.

The measures include a N32,000 pension increment, percentage increases for pensioners of defunct and privatised agencies, pension harmonisation for all DBS pensioners, enrolment into the National Health Insurance Scheme, and the settlement of long-standing unfunded pension liabilities.

In a statement yesterday, PTAD said the partial release of N820.188 billion by the Federal Ministry of Finance from the emergency funding has made it possible for pensioners to begin receiving the enhanced payments immediately.

The statement read, “Further to the President’s approval of the emergency budgetary allocation for the payment of the new pension increment rates for Pensioners under the Defined Benefit Pension Scheme (DBS) that was earlier published by the Pension Transitional Arrangement Directorate on Friday, 8th August, 2025, the Directorate is delighted to announce the commencement of the implementation of the 832,000, 10.66% and 12.95% pension increment for eligible pensioners under the management of PTAD, in the September 2025 pension payroll cycle.

“This achievement has been made possible through the partial release of 820.188 billion by the Federal Ministry of Finance, from the initial 845 billion emergency funding approval granted by the Federal Government.

“This milestone clearly reaffirms the Federal Government’s dedication to safeguarding the welfare and entitlements of DBS Pensioners in line with the Renewed Hope Agenda.”

The directorate thanked President Bola Ahmed Tinubu for approving the emergency allocation.

It also acknowledged the role of the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun; the Minister of State for Finance, Dr Doris Uzoka-Anite; the Accountant-General of the Federation and key presidential aides and parliamentary committees for their “timely interventions” and support.

The statement also expressed appreciation to organised pension groups, including the Nigeria Union of Pensioners and the Federal Parastatals and Private Sector Pensioners Association of Nigeria, for their cooperation during negotiations and implementation planning.

“We further assure all our DBS Pensioners and Stakeholders that the Directorate will continue to collaborate with the relevant authorities towards release of the outstanding approved funds and subsequent fulfilment of all future obligations relating to the pension increments and the landmark reforms,” the statement added.

The DBS covers pensioners who retired before the introduction of the Contributory Pension Scheme in 2004, including those from defunct public institutions, privatised agencies, and treasury-funded parastatals.

Over the years, many have faced irregular payments, delayed harmonisation, and inadequate healthcare access, challenges that the new reforms are expected to address.

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Nigeria At 65: NOA urges citizens to foster unity, progress

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The National Orientation Agency (NOA) has urged Nigeria. citizens to remain united, peaceful to enhance development of the  nation  as it celebrates 65th independence anniversary.

Mr Mkpoutom Mkpoutom, Director of NOA in Akwa Ibom,  gave the charge in Uyo yesterday while addressing newsmen and stakeholders to mark the anniversary.

Mkpoutom said it was essential to recognise that the strength of Nigeria lay  in its diversity

“With over 250 ethnic groups and an array of languages, the nation embodies a unique blend of heritage.

“This diversity should be seen not as a dividing line but as a unifying force that propels the country toward progress.

“As Akwa Ibom embarks on another year,  it is crucial for all citizens to foster a sense of unity and shared purpose.

“Embrace dialogue, understanding and collaborate with the Renewed Hope Agenda of President Bola Tinubu in its efforts to addressing pressing challenges like poverty, security, education, and healthcare, thereby paving  way for a brighter future for all.”

The state director, however, appealed to Nigerians from all walks of life to renew their commitment to a more prosperous, peaceful, and equitable nation.

“Let this anniversary serve as a reminder of the collective strength that lies in every citizen,” he said.

He urged everyone to contribute positively to the development of a better society.

Mkpoutom urged the people and all citizens to honour the labours of heroes past, as they celebrated the present, while working diligently toward a future filled with hope and opportunities for generations to come.

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