To make vehicle conversion to either Compressed Natural Gas (CNG) or electric more affordable for Nigerians, the leadership of Kwara State University (KWASU) has called on financial institutions and banks in the country to establish special funding to support Nigerians in making the conversion.
Speaking to journalists in Ilorin on Friday about the successes achieved in converting five vehicles to CNG-compatible and electric vehicles, the Vice-Chancellor of the university, Shaykh Luqman Jimoh, shared that a total of N854,000 was saved within seven weeks by using an electric vehicle.
The Vice-Chancellor, who suggested that financial assistance from banks could be provided as loans, explained that people interested in the program could repay gradually within a specified period.
“This,” he said, “would make life easier for everyone.”
“For instance, we used this 14-seater electric bus for seven weeks to transport staff from Ilorin to the Malete campus of the university. We saved N840,000 that would have otherwise been spent on fuel. One could save at least 50% of the conversion cost within a year by using CNG or electric vehicles. The battery has a minimum lifespan of about 10 years.”
The Vice-Chancellor also mentioned that university engineers had converted four vehicles to electric and one to CNG last year, and the institution plans to open a facility for vehicle conversion.
He added that the institution has signed a Memorandum of Understanding (MOU) with two Chinese companies to supply conversion kits (branded with KWASU) to support commercialization fully.
Shaykh Jimoh encouraged Nigerians to invest more in renewable energy, highlighting that it is economical, saves fuel costs, and reduces emissions.
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He also noted that universities in Nigeria are underfunded and that KWASU aims to generate more revenue from the vehicle conversion project as an additional source of Internally Generated Revenue (IGR).
The Vice-Chancellor stated that the university has partnered with the Kwara State Ministry of Business, Innovation, and Technology to convert vehicles, with 22 vehicles from the state transport company, Kwara Express, set to be converted to CNG.
Also speaking, Abdulazeez Akande, an engineer in the Electrical Engineering Department, said that conversion to electric is more costly, at approximately N1.5 million or less, while CNG is more affordable.
