02
Jun
Jun
CNG SECTOR THRIVES AS INVESTMENTS EXPAND, PCNGI REPORTS PROGRESS
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CapitalTimesNews / 1 week
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- 2 min read
The Presidential CNG Initiative (PCNGI) has released a statement highlighting the rapid growth of the Compressed Natural Gas (CNG) sector in Nigeria, with significant investments and infrastructure development taking place across the country. Program Director/Chief Executive of PCNGI, Engr. Michael O. Oluwagbemi, noted that despite skepticism, the sector has made tremendous progress in just seven months. Engr. Oluwagbemi stated that the PCNGI’s intensive awareness campaign, conducted from May to October 2024, has paid off, with over 50,000 vehicle counts and rising to 100,000. “Nigerians love CNG and the program is working,” he said. The PCNGI has facilitated investments into the alternative energy sector, with private sector partners developing necessary infrastructure to meet rising demand. The PCNGI has partnered with various entities, including AY Shafa and Femadec, which have commissioned new daughter stations in Abuja and plan to develop more across the country. Greenville is also investing in the rollout of LCNG stations in 51 locations across the North and Southeast. Over 175 stations are being rolled out nationwide by various partners. NNPCL is investing in additional stations, with 8 new sites being finished and 40 more in Phase 2 of its rollout plan being finalized. Oluwagbemi emphasized that the CNG sector has attracted over $500 million in investments and created over 10,000 direct jobs. “255 new conversion centers that didn’t exist last year and 53 daughter stations exist today as a result of some of those investments,” he added. He urged patience with skeptics, noting that engineering feats take time and that it will take more than seven months to wean off petrol and diesel addiction. Oluwagbemi expressed disappointment with Vanguard Newspaper’s negative narrative, stating that the newspaper was being “alarmist and deliberately blind to progress.” He assured that the PCNGI remains committed to its mandate, working hard to deliver the goodies promised by President Bola Ahmed Tinubu to all Nigerians. “Rome was not built in a day, and CNG will take more than few days,” Oluwagbemi concluded.