The Presidential CNG Initiative (PCNGI) has debunked claims of an infrastructure gap in the Compressed Natural Gas (CNG) sector, saying the industry is thriving despite being barely seven months old.
In a statement signed by the Program Director of PCNGI, Michael Oluwagbemi says the sector has attracted over $500 million in investments and created over 10,000 direct jobs.
According to PCNGI, the CNG sector has seen significant growth, with over 50,000 vehicle count and rising to 100,000.
The initiative attributed this growth to the massive incentives provided by the administration and the breakthrough in awareness due to the economic benefits of switching to CNG.
The statement highlighted the investments being made in the sector, including the rollout of over 175 CNG stations nationwide by various partners.
“NNPCL is investing in additional 8 stations to its current stock of 12, and another 40 of 100 in Phase 2 of her roll out plan is being finalized,” the statement reads.
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PCNGI also noted that private sector partners, such as AY Shafa and Femadec, are investing in CNG ventures, with 9 and 21 daughter stations respectively in the works.
“We are pleased that even the doubting Thomases are singing a new tune,” the statement says
The initiative urged skeptics to be patient, noting that engineering feats take time.
“It took over seventy years to get addicted to petrol and diesel, it will take more than seven months to be weaned off the addiction,” the statement says
PCNGI remains committed to its mandate of incentivizing the adoption of CNG and EV vehicles, facilitating investments into the alternative energy sector, and coordinating regulation of the emerging sector for rapid growth.
(Editor: Paul Akhagbemhe)
