$200 Million Invested in CNG Infrastructure, 100,000 Vehicles Converted – Presidential CNG Initiative

• Over 100,000 vehicles in Nigeria have been converted to compressed natural gas (CNG), with conversion centers increasing from seven to 140
• The Presidential Compressed Natural Gas Initiative aims to convert one million vehicles within three years, providing a cheaper, cleaner fuel alternative

The Presidential Compressed Natural Gas Initiative (PCNGi) announced that over 100,000 vehicles in Nigeria have been converted from petrol to compressed natural gas (CNG) or bi-fuel systems. The number of conversion centers has increased significantly, from seven in 2023 to over 140 nationwide.

Engr. Michael Oluwagbemi, the initiative’s Project Director/CEO, explained that private investors have committed over $200 million to developing CNG infrastructure, fueling economic opportunities and creating thousands of new jobs across the country.

Launched by President Bola Tinubu, the initiative aims to offer Nigerians a cheaper, cleaner fuel alternative, reducing fuel costs by over 60% for converted vehicles.

Over 2,000 people have been employed at conversion centers, and more jobs are expected as the project expands. Over two billion naira has already been invested privately in these centers, and an additional six to ten billion naira is anticipated to meet the goal of establishing 1,000 conversion centers.

“In the past year, the private sector invested over two billion naira to establish these conversion centres, and another six to 10 billion naira will go into setting up more centres to meet the targeted 1,000 centres required to transform the nation’s energy dynamics.

“Second, there is no conversion cost for commercial vehicles in Nigeria. It is free under the President’s Conversion Incentive Programme. The programme seeks to convert one million commercial vehicles to CNG/bi-fuel in the next three years,” the statement said.