The Nigerian government said that it has invested over $450 million in the development of the country’s compressed natural gas value chain.
According to NAN, the Project Director of the Presidential Compressed Natural Gas Initiative, PCNGi, Michael Oluwagbemi, disclosed this on Monday at the 9th Edition of the Nigeria Energy Forum, NEF 2024, in Lagos.
Oluwagbemi, who was represented by Tosin Coker, the Head of Commercial at PCNGi, emphasised that the investment spans critical areas of the CNG infrastructure, including the establishment of mother stations, daughter stations, refuelling stations, and conversion centres across the country.
“The Presidential Compressed Natural Gas Initiative (PCNGi) on Monday said that it had invested more than 450 million U.S. dollars in the Compressed Natural Gas (CNG) value chain.
“The amount goes into things like mother stations, daughter stations, and refuelling stations, as well as conversion centres that are starting to spring up across the nation,” he stated.
This comes as the federal and state governments established CNG conversion centres nationwide.
In May, President Bola Ahmed Tinubu ordered all ministries, departments, and agencies to procure CNG buses.
Nigerian government invests $450m on CNG value chain
