Nigeria to realize over 3bn investment from CNG vehicles conversion initiative Zayyanu
The Programme Coordinator, Regulatory, Compliance and Facilitator, Presidential Compressed Natural Gas Initiative, Mr Zayyanu Yabo says Nigeria will realize over three billion dollars investment in the CNG value chain.
He made this known in Abuja during a stakeholder engagement on the CNG conversion initiative.
According to him, abNigeria eyes over N3bn investment from CNG vehicles’ initiative – Zayyanuout one million CNG vehicles would be produced by 2027, while twenty-five thousand personnel would be trained and empowered on the CNG conversion programme.
The Programme Coordinator stated that the CNG conversion initiative is part of President Bola Tinubu’s renewed hope agenda for ensuring an alternative and cheaper transportation fuel for Nigerians.
“Last year, His Excellency, President Bola Tinubu launched Presidential Compressed Natural Gas Initiative, P-CNG-I as a successor to the National Gas Expansion Programme, NGEP to cushion the impact of subsidy removal and this initiative is techno -economically beneficial because Nigeria is naturally blessed with abundance of natural gas deposit” Mr Yabo explained
While stressing that Nigeria must leverage its natural gas resources and transform them into an energy source that will drive the automotive wheels of Nigeria, the Programme Coordinator announced that some CNG conversion centres have already been established across the country.
Mr Yabo emphasized that the recent directive by President Bola Tinubu to Ministries, Departments and Agencies, MDAs to procure only natural gas powered vehicles showed his commitment to achieving the objectives of the P-CNG-I and afford Nigeria alternative for energy consumption as well as ensure cleaner energy in line with the best global practice.
He therefore solicited the support of all stakeholders most especially in the transport sector towards realizing the objectives of Presidential CNG Initiative in the country.
