The Federal Government of Nigeria has invested more than $450 million in the development of the Compressed Natural Gas (CNG) value chain through the Presidential Compressed Natural Gas Initiative (PCNGi).
This was disclosed by Mr. Michael Oluwagbemi, Project Director and Chief Executive Officer of PCNGi, during the virtual session of the 9th Nigeria Energy Forum (NEF2024) held in Lagos. Themed “Energising Sustainable Industrialisation,” the forum focused on promoting clean energy and industrial innovations.
Oluwagbemi, represented by Mr. Tosin Coker, PCNGi’s Head of Commercial, highlighted that the funds have been allocated to establishing mother stations, daughter stations, refuelling facilities, and vehicle conversion centres nationwide.
He noted that over 10,000 vehicles have been successfully converted from petrol to CNG, with plans to convert more than one million vehicles by 2027.
Addressing concerns about vehicle safety, Oluwagbemi assured Nigerians that robust measures have been implemented in collaboration with government agencies to prevent CNG-related incidents.
Mrs. Ibironke Olubamise, National Coordinator of the GEF Small Grants Programme (SGP), announced investments in youth energy innovations to drive economic growth and environmental sustainability.
Dr. Daniel Adeuyi, Chairman of NEF Group, highlighted super sessions on industrial revolution, community climate action, and clean energy innovations, which aimed to empower young entrepreneurs and cross-industry professionals.
Engr. Adekunle Makinde, Co-Chair of NEF, revealed the winners of the 9th Africa Energy Innovation Challenge, supported by GEF-SGP UNDP, Afrexim Bank, and Oando Clean Energy. The top three youth innovators received grants to upscale solutions for real-life applications.
The National Automotive Design and Development Council (NADDC), represented by its Director General, Mr. Joseph Osanipin, stated that the council has trained over 4,000 auto technicians on converting petrol vehicles to CNG. Campaigns have also been launched to sensitise Nigerians about CNG’s environmental and economic benefits.
“CNG guarantees a cleaner environment and is significantly cheaper and more affordable for vehicle owners,” Osanipin said.
Mr. Oluwatobi Ajayi, Chairman and Managing Director of Nord Automobile Ltd., shared that the Federal Government’s CNG initiative has influenced the company to integrate CNG-powered options into their vehicle production to align with national policies.
Dr. Armstrong Tankan, Managing Director of the Ministry of Finance Incorporated (MOFI), discussed efforts to consolidate the government’s local and global assets. “We aim to establish visibility over these assets, reduce waste, and improve productivity,” he stated.
The 9th NEF forum underscored the government’s commitment to cleaner energy solutions, sustainable industrialisation, and fostering innovation to meet Nigeria’s energy and environmental goals.
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