A Chinese company, Wen Advisor, has expressed its desire to invest in the Compressed Natural Gas (CNG) in Nigeria, following President Bola Tinubu’s directive on mandatory procurement of CNG-powered vehicles by all government institutions in the country.
In a bid to implement President Tinubu’s directive, the permanent secretary of the Federal Ministry of Petroleum, Amb Nicholas Agbo Ella, on Tuesday, met with officials of the Chinese company, Wen Advisor, in Abuja.
Amb Ella said Nigeria offers huge business potential for investment in compressed-natural-gas-powered vehicles.
He explained that the President’s policy on gas infrastructure development tallies with global best practices in the use of cleaner energy for environmental sustainability, a statement by the permanent secretary’s media aide, John Ameh, indicated.
Speaking at the meeting, the director of Upstream Department at the ministry, Kamoru Busari, expressed the government’s readiness to provide an enabling environment for investment to thrive.
Earlier, the managing director of Wen Advisor, Haikuo Weng, said he was in Nigeria with his team to explore possible areas of investment in the CNG-powered vehicles project.
Weng explained that to develop a CNG gap pump station, it was necessary to ascertain whether local buses in Nigeria currently use liquefied natural gas (LNG) or the CNG.
In an earlier letter of collaboration for what Mr Weng called ‘Green Transportation Solutions,’ he pledged to introduce CNG buses with competitive pricing.
To assist Nigeria in its energy transition efforts in the transportation sector, Weng said he was in the country to “assess the potential for establishing natural gas refuelling stations.
Recall that President Tinubu’s recent directive was in furtherance of Nigeria’s effort to transition to cleaner energy as CNG-enabled vehicles have been considered to produce lower emissions, thereby safeguarding the environment.
The policy also seeks to present a more affordable alternative for Nigerian energy consumers.
We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →
Join Our WhatsApp Channel
