Schneider Electric Warns of Margin Crisis; FG Unveils Affordable CNG Conversion Scheme
A new study by Schneider Electric warns that the Consumer-Packaged Goods (CPG) sector could lose nearly 30% of manufacturing revenue by 2030 due to inadequate Artificial Intelligence (AI) adoption.
The report notes that inefficiencies like equipment failure and downtime already account for over 20% of product costs today.
In a simultaneous move toward economic relief, the Federal Government has launched a strategic financing scheme for CNG vehicle conversion.
The Deal: Managed by the Presidential Initiative on Compressed Natural Gas (Pi-CNG & EV) and CREDICORP, Nigerians can now convert vehicles and pay via instalments over six months.
Interest Rates: Loans are available at rates as low as 9%, significantly lower than traditional bank rates.
Scale: 100,000 conversion kits are ready for the first phase to help cushion the impact of rising fuel costs and global oil volatility.
Ismaeel Ahmed, CEO of Pi-CNG & EV, emphasized that the initiative aims to cut emissions while providing immediate financial relief to transport workers.
#ArtificialIntelligence #CNGNigeria #SchneiderElectric #PiCNG #CleanEnergy #NigeriaEconomy #TechInManufacturing
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