The Presidential Compressed Natural Gas Initiative (PCNGI) has announced a series of activities ahead of its Nationwide Deployment Plan launch on May 29, 2024. The pre-launch itinerary aims to engage stakeholders, showcase critical gas supply projects, and facilitate the conversion and refuelling infrastructure across Nigeria.
According to PCNGI’s Programme Director/Chief Executive, Michael Oluwagbemi, these activities are part of the initiative’s commitment to fostering sustainable energy solutions and reducing carbon emissions.
The Presidential CNG Initiative (Pi-CNG) is a component of the palliative intervention of President Bola Ahmed Tinubu’s administration which aims to provide succour to the masses. Tinubu’s government established this initiative to relieve the transitive hardships of the fuel subsidy removal policy of the Federal Government of Nigeria.
The PCNGI have toured Lagos, Port Harcourt, and Uyo, among other virtual events and commissioning of assembly sites and plants in different regions of the country. The team will host the other sessions in Illorin and Enugu-Onitsha from May 22-31.
On May 29, the Presidential CNG initiative will host a press conference announcing the launch of the Conversion Incentive Program in Abuja. Also, on May 30, the PCNGI will commission the Luojia Assembly Plant for CNG tricycles on the Lagos-Ibadan expressway.
“These activities mark significant milestones in our journey towards achieving energy efficiency, environmental sustainability, and economic prosperity for Nigeria. PCNGI commits to fostering collaboration with all stakeholders as we pave the way for a cleaner, greener future.”
FG to Save $2.5bn Annually from 1m CNG Cars
During the South-South/South-East Stakeholders Engagement Meeting on Presidential Initiative on CNG held in Port Harcourt, Rivers State, on Friday, the PCNGI said that Nigeria would save about $2.5 billion yearly from every one million vehicles converted into CNG-powered cars.
According to Oluwagbemi, the initiative can reduce the current inflation affecting the nation’s economy.
He said the push for CNG by the Federal Government is germane for the economic development of the nation and to end the era of pollution and environmental degradation. This also includes reducing oil and gas waste and increasing energy savings.
In addition, he noted that while the country has abundant resources, it lacks what it takes to utilise them, pointing out that CNG is cleaner and cheaper and would reduce the cost of transportation.
Oluwagbemi asserted that the nation stands to benefit much from the energy transition, insisting that CNG is more reliable for the country’s transportation sector.
“Nigeria stands to gain a lot from the energy transition in the transportation sector. First and foremost, CNG is our own resource. Natural gas is everywhere in Nigeria. It is a much more reliable source of fuel in the transportation sector. No longer will there be crises out of Nigeria impact the economic livelihood of the country,” he added.