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The Presidential Compressed Natural Gas Initiative (PCNGI) of Nigeria has attracted over USD 50 million in investment in the last five months. Last August, Nigerian President Bola Tinubu approved the establishment of the PCNGI.
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, stated that the establishment of the initiative was in furtherance of his commitment to easing the impact of fuel subsidy removal on Nigerians by reducing energy costs.
This transformative initiative, according to Ngelale, is poised to revolutionise the transportation landscape in the country, targeting over 11,500 new Compressed Natural Gas (CNG)-enabled vehicles and 55,000 CNG conversion kits for existing Premium Motor Spirit (PMS)-dependent vehicles. While simultaneously bolstering in-country manufacturing, local assembly and expansive job creation in line with the presidential directive, stated the spokesperson.
Thousands of Nigerian companies are investing in the sector because they see that the present administration is serious about moving the country forward and leveraging the gas resources. The CNG initiative was created to cushion the effects of fuel subsidy removal on Nigerians and open new investment windows for domestic and global investors in the gas sector.
According to him, the government has continued to mobilise the private sector for compressed natural gas use and investments. He explained that the series of investment inflows to the sector showed the level of commitment by the present administration to boosting cleaner energy and promoting a more efficient energy sector.
The Minister of State, Labour and Employment, Nkeiruka Onyejeocha, reminded the pressing need to propel the nation forward, not just in terms of economic growth, but in creating opportunities that uplift every citizen. She added that the Presidential CNG Initiative stands as a testament to this vision, as it not only seeks to revolutionise Nigeria’s transport sector with cleaner energy but also commits to up-skilling and training 25,000 auto technicians in the process.
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The partnership of PCNGI and the Nigerian Federal Ministry of Labour and Employment ensuring that every job created and every skill imparted is not just a statistic but a step towards empowerment and progress.
