Kara Finance to hold rally on CNG conversion and usage

Kara Finance, a financial service provider in Nigeria, is set to organise a rally to promote the conversion of petrol engines to Compressed Natural Gas (CNG). The first phase of the initiative, named the #25/km Lagos CNG Rally, will take place in Lagos from 4 to 7 March 2025, visiting key CNG refilling stations along major routes such as Ojota, Ikorodu, Ikeja, Agege, Mushin, Amuwo Odofin, Apapa, Marina, and Sangotedo Lekki. The event aims to educate Nigerians on the benefits of adopting CNG technology as a cleaner, more affordable alternative to petrol and diesel.

In a statement on Wednesday, Kamal Laghari, founder and chief executive officer of Kara Finance, said the rally would target key motor parks, CNG refilling stations, and business hubs across Lagos. He emphasized that the event would raise awareness about CNG conversion, highlighting its cost-saving potential at just ₦25/km compared to ₦150-₦250/km for petrol or diesel. Addressing common misconceptions, Laghari clarified that CNG conversion does not remove the petrol tank but creates a dual-fuel system, allowing vehicles to run on either fuel type.

According to Laghari, “The benefits of CNG usage for vehicles and other engines are enormous. Our vision is to create sustainable energy solutions for Nigerians while driving the adoption of greener, cost-effective alternatives to traditional power sources. We are on a mission to convert one million vehicles and generators to CNG across Nigeria, creating a cleaner environment while cutting the costs of power generation and transportation. This transition will improve the standard of living for everyday Nigerians.”

The rally will feature free CNG conversion inspections, live demonstrations, expert Q&A sessions, and giveaways like free CNG fill-ups. To make the switch accessible, Kara Finance is introducing a financing model offering up to 100% financing with zero upfront cost. Laghari noted that the company has already financed over 600 vehicle conversions to CNG, with customers reporting fuel cost savings of over 80%. “This drastic reduction in energy costs shows that CNG is not only an environmentally friendly choice but also a financially smart one for individuals and businesses,” he said.

Kara Finance aims to convert at least 300,000 vehicles, trucks, and generators to CNG over the next five years. Laghari explained that their Pay-As-You-Save model lets customers repay loans using the savings from switching to CNG. “This ensures affordable repayments while still delivering significant energy cost reductions,” he added. He concluded, “Join us in this movement towards lower fuel costs and a greener Lagos!”

The first phase of the initiative is supported by partners including Aseba Stars Motors Limited, Portland Gas Limited, Autogas Nigeria Ltd, CitronGreen Energy Ltd, BlackWhite Energy Ltd, Evergreen CNG Ltd, MBH Power Ltd, and BudPay – Bud Infrastructure Ltd.