FG Inaugurates Lagos P-CNGi Pilot Conversion Centres

The Federal Government has inaugurated a Compressed Natural Gas (CNG) vehicles pilot conversion centre in Lagos State, through the Presidential-CNG Initiative (P-CNGi). Mr Micheal Oluwagbemi, Chief Executive Officer of P-CNGi, while speaking at inauguration of the FEMADAC Station on Saturday, described the step as significant development. Oluwagbemi said the CNG centre would bring more environmentally sustainable and economically viable future for Nigeria. The facility is situated at KM 42, Lekki-Epe The P-CNGi Steering Committee has announced that seven CNG conversion centres have been established in the country. He said the initiative had also at the weekend handed over converted buses to State House in Abuja. Oluwagbemi said the event was immense significance for Nigerians and the global movement towards responsible energy choices. “Today, as we officially open the Lagos Conversion Centre, we go beyond the inauguration of a facility; we extend a hand to a greener, more sustainable, and affordable future. “We are not just changing how we fuel our vehicles; we are changing lives, one job at a time. “The commissioning of the first of Lagos P-CNGi Pilot Conversion Centres is historic, as it is the first of many such facilities planned under the P-CNGi initiative,” Oluwagbemi said. The engineer said that the initiative with the theme: “Energy Revolution: Powering Tomorrow, Today,” represented Nigeria’s commitment to transitioning to cleaner and more affordable energy solutions. The P-CNGi chief executive officer said that CEO said that the conversion centre was not only a symbol of Nigeria’s dedication to environmental responsibility, but also a beacon of hope for its citizens. He said that the initiative would create jobs and greener opportunities. “More than 1,000 of such centres are planned nationwide in the next few years, with 55,000 conversions planned under the Palliative Program that have kicked off, designed to reduce the cost of transportation, especially mass transit for poor Nigerians. “This works by collaborating with private sector is to expand the conversion centre network of Nigeria from seven to at least 70, while creating over 2,000 jobs converting vehicles from PMS to CNG Bifuel that runs cheaper, cleaner and better. “By embracing Compressed Natural Gas (CNG) technology, the initiative addresses the twin challenges of sustainability and fiscal responsibility, which have become integral in the modern world. “This initiative aligns with President Bola Tinubu’s commitment to easing the impact of fuel subsidy removal on Nigerians by reducing energy costs,” Oluwagbemi said. According to him, the conversion of vehicles to CNG is not just a transition to cleaner energy, it is a promise to generate employment opportunities and stimulate economic growth. The CEO said that the inauguration aligned with the overarching goal of P-CNGi to foster innovation in the energy sector, ultimately benefitting the people of Nigeria. He added: “In a world where environmental consciousness and responsible energy choices are paramount, P-CNGi’s efforts underscore Nigeria’s commitment to leading this global movement. “The initiatives programme director aptly noted, “Challenges will emerge, but with our unwavering commitment, innovative spirit, and collaborative efforts, we are poised to overcome them.”

Subsidy Removal: Infrastructure Bank To Provide Funding For CNG buses

As part of efforts to ease the hardship occasioned by the removal of petrol subsidy, the Infrastructure Bank has promised to provide funding for the Compressed Natural Gas (CNG) Mass Transit. According to the bank during a visit to the Permanent Secretary of Special Projects Dr. Okokon Udo Ekanem, part of the strategy will include collaborative efforts towards advancing sustainable infrastructure development. The team headed by Director in the Bank, Andrew Nweke, said the bank is committed to supporting the Federal Government in mitigating the effects of fuel subsidy removal through the promotion of Compressed Natural Gas (CNG) Mass Transit. According to him, the bank had dedicated funds towards financing CNG mass transit. Compressed Natural Gas (CNG) has emerged as a cleaner and more sustainable alternative to conventional fuels, offering significant economic and environmental benefits. He said TIB’s proactive stance in this endeavour aligns with its broader mission of fostering sustainable infrastructure development in Nigeria. Also speaking, the Acting Managing Director of the Bank, Mrs. Nkiru Chime, highlighted some of TIB’s achievements in the transport sector through the Move Nigeria Scheme (MNS). She said the bank has played a pivotal role in facilitating economic progress, adding that since the inception of the MNS, ithas disbursed about N47bn, resulting in the distribution of over 4,500 vehicles across all geopolitical zones. The scheme, she added, has created over 10,000 employment opportunities consequently and has contributed to the Gross Domestic Product through the transport sector. The transport sector contributed about 1.35 per cent to Nigeria’s GDP in the second quarter of this year. Chime added that the Move Nigeria Scheme (MNS) has become synonymous with TIB’s commitment to transforming the nation’s transportation landscape. By facilitating access to financing and resources, she said MNS has empowered numerous entrepreneurs and businesses to acquire vehicles, thereby stimulating economic activities across various sectors. According to her, the decision to allocate funds for the promotion of CNG Mass Transit underscores TIB’s responsiveness to the evolving energy landscape and its dedication to environmentally friendly and cost-effective transportation solutions.