President Bola Tinubu has approved the establishment of the Presidential Compressed Natural Gas Initiative (PCNGI)This, according to a statement issued by his Special Adviser on Media and Publicity Ajuri Ngelale on Friday, is in furtherance of his commitment to ease the impact of the fuel subsidy removal by reducing energy costs.
The initiative is poised to revolutionize transportation in the country, targeting over 11,500 new CNG-enabled vehicles and 55,000 CNG conversion kits for existing PMS-dependent vehicles, while bolstering in-country manufacturing, local assembly and expansive job creation in line with the presidential directive.
The Presidential spokesman added that President Tinubu’s focus on assembling CNG-enabled vehicles within the country will stimulate economic growth, create employment opportunities, and bolster the nation’s automotive manufacturing capabilities.
He noted that the launch of this initiative also underscores the administration’s commitment to fostering a cleaner environment by reducing carbon emissions and promoting energy security through the utilization of domestic natural gas resources.
(Editor: Oloyede Oworu)