• Tuesday, April 23, 2024
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Mezovest, Elizade to set up CNG daughter stations

Mezovest, Elizade to set up CNG daughter stations

Mezovest, a natural gas distribution company, and Elizade, an automobile dealer, have concluded plans to introduce an eco-friendly, cost-effective, and sustainable alternative to petrol through the establishment of Compressed Natural Gas (CNG) daughter stations.

Tosin Thompson, managing director of Mezovest, who disclosed this in a statement, said the hike in the price of petrol and diesel informed the development.

He said: “Given the hike in the price of petrol and diesel, there has been a surge in the demand for cleaner, more affordable fuel options.

“This demand has created a favourable market opportunity for both companies to create value for millions of Nigerians who are seeking affordable energy alternatives.”

According to him, recent policy initiatives of the Federal Government seeking to provide incentives for alternative energy is a key factor accelerating the partnership with Elizade Motors.

“Mezovest will oversee logistics, site selection, technology integration, and operational execution, while Elizade will provide automotive support, offer CNG-compatible vehicles, and spearhead marketing efforts through its extensive network,” he added.

On his part, Demola Ade-Ojo, CEO of Elizade Autoland, expressed confidence and excitement about the partnership, describing it as timely and economically imperative.

“Our collaboration with Mezovest will not only deliver exceptional value to customers and partners nationwide in terms of significant cost savings but will also contribute to a healthier environment,” he said.

According to him, the cost savings would translate into increased disposable income that will impact Nigeria’s economy positively.

“As Nigeria grapples with rising inflation driven by high energy costs, Mezovest and Elizade are keen on transforming a major economic hiccup into a market opportunity by providing affordable alternative energy to Nigerians across the country,” he said. “This leading-edge partnership will potentially represent a significant step towards a more sustainable and economically viable energy future in Nigeria.”