The Federal Government yesterday announced that at least $980 million has been mobilised in Nigeria’s Compressed Natural Gas (CNG) sector, with daughter stations increasing from just seven to 350 in the past 18 months.
Programme Director of the Presidential CNG Initiative (PCNGI), Michael Oluwagbemi, disclosed this in Abuja during the launch of the NASENI-Portland CNG daughter station, auto conversion, and training centre.
Oluwagbemi revealed that the number of converted CNG vehicles has surged from about 4,000 to 100,000 within the same period. He said over N720 billion has been invested by private sector players, including BUA and Nigerian Bottling Company, in acquiring CNG trucks and building daughter stations.
He added that the PCNGI has worked closely with the industry to promote adoption through conversion incentives, such as offering transport unions conversion kits at up to 90% discount. According to him, the public’s response has been rapid, with growing industrial participation in both infrastructure and vehicle conversion.
