The Presidential Compressed Natural Gas Initiative (PCNGI), led by Project Director and CEO Michael Oluwagbemi, has announced that the Federal Government has allocated over $450 million to develop Nigeria’s Compressed Natural Gas (CNG) value chain.
Represented by Tosin Coker, Head of Commercial at PCNGI, Oluwagbemi shared this update at the 9th Nigeria Energy Forum (NEF2024) in Lagos. The investment covers key infrastructure such as mother stations, daughter stations, refueling stations, and vehicle conversion centers nationwide.
To date, over 10,000 vehicles have been converted from petrol to CNG, with a goal to transition more than one million vehicles by 2027. Addressing safety concerns, Oluwagbemi assured the public that stringent measures, developed in partnership with relevant government agencies, are in place to ensure the safe use of CNG-powered vehicles.
