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The presidency disclosed on Wednesday that since the launch of the Presidential CNG Initiative, over 100,000 vehicles have been converted from petrol to CNG/bi-fuel, and more conversion centres are springing up across the country.
It stated that in addition, investors were ramping up the development and deployment of Compressed Natural Gas (CNG) infrastructure, with over $200 million already invested across the value chain.
A statement titled, “Status Update on the Presidential CNG Initiative,” issued by Project Director/CE of Presidential CNG Initiative (PCNGI), Michael Oluwagbemi, said thousands of new jobs and economic opportunities were also opening up along the line.
Oluwagbemi said the statement became necessary to address certain misinformation regarding the PCNGI.
His words: “Since the launch of this ground-breaking initiative, the response has been positive as Nigerians are embracing and converting their petrol-powered vehicles to CNG-enabled vehicles – with over 60 per cent reduction in the amount of money they spend on fuel.
“To date, over 100,000 vehicles have been converted from petrol to CNG/bi-fuel-powered, and more conversion centres are being established across the country.
“In addition, investors are ramping up the development and deployment of CNG infrastructure, with over $200 million already invested across the value chain. Thousands of new jobs and economic opportunities are opening up along the line.”