The Presidential Compressed Natural Gas Initiative has revealed that Nigeria’s CNG industry has attracted $980 million in investments in just 18 months, cementing its status as one of the nation’s fastest-growing sectors.
PCNGI Chief Executive Officer, Engr. Michael Oluwagbemi, made the disclosure on Wednesday at the commissioning of the Portland Gas Ltd/NASENI CNG Daughter Station, Auto Conversion, and Training Centre in Abuja.
“In just 18 months, we have drawn over $980 million worth of investments into the CNG sector. Companies like BUA and Nigerian Bottling Company have spent more than ₦720 billion on CNG trucks and over 100 water stations,” Oluwagbemi stated.
He noted that the number of CNG-powered vehicles had surged from 4,000 to almost 100,000, with users enjoying as much as 90 percent savings compared to petrol. Oluwagbemi also called for measures to ensure CNG designated for vehicles is not diverted to power plants.
Speaking on behalf of the Speaker of the House of Representatives, Hon. Tajudeen Abass, Hon. Alexander Mascut pledged that the National Assembly would pass laws to guarantee that autogas CNG remains reserved for transportation purposes.
Portland Gas CEO, Mr. Folajimi Mohammed, described the new Kubwa facility as a “gas hub” featuring an auto-conversion centre, training school, refill station, and LPG sales outlet.
He added that PCNGI had subsidised conversion costs, making them free for members of NARTO, NURTW, Uber, and Bolt.
Mohammed also highlighted the Ajaokuta-Kaduna-Kano gas pipeline being developed by NNPC Ltd, saying it would open up CNG supply to the northern region.
Executive Vice Chairman of NASENI, Mr. Khalil Halilu, explained that the Kubwa location was deliberately chosen to cater to both northern and southern markets.
Partnering with PCNGI, he expressed confidence that queues at CNG stations would vanish within two years as more motorists adopt the technology.