• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, August 27, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

AfDB To Fund IPMAN’s Nationwide CNG Infrastructure Rollout

by Chika Izuora
2 years ago
in Cover Stories
AfDB
Share on WhatsAppShare on FacebookShare on XTelegram

 

Advertisement

The projected mass rollout of Compressed Natural Gas (CNG) refilling outlets across all states of Nigeria is becoming a reality with seven banks ready to manage a revolving fund facility from the African Development Bank(AfDB), LEADERSHIP learnt.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) had sealed the deal with the bank following removal of petrol subsidy by President Bola Tinubu.

National president of IPMAN, Elder Chinedu Okoronkwo, disclosed this development to LEADERSHIP on phone yesterday.

Our correspondent gathered that the association made the approach after it conducted a market survey on the cost of converting existing petrol stations to CNG outlets.

RELATED

Varsity Lecturers Protest Across Campuses

Varsity Lecturers Protest Across Campuses

2 hours ago
Passengers Narrate Ordeal As NSIB Probes Kaduna Train Derailment

Passengers Narrate Ordeal As NSIB Probes Kaduna Train Derailment

2 hours ago
ADVERTISEMENT

LEADERSHIP authoritatively reports that IPMAN had already commenced identification of members interested in co-locating CNG dispensers and infrastructure on their existing petrol retail outlets.

The exercise is to identify qualified potential candidates for loans to support its target of establishing 10-20 co-located CNG stations in each state of the federation during the first phase of its planned nationwide rollout.

From a document cited by our correspondent, the minimum investment required for a CNG station with two dispensers and four hoses co-located in an existing or inactive station capable of dispensing 250,000 standard cubic feet daily SCFD or 500,000 SCFD of natural gas, equivalent to 7,480-15,000 litres of petrol a day, is approximately N300 million.

ADVERTISEMENT

Under the loan arrangement, interested marketers would make 15 per cent down payment with the rest of the fund repaid over ten years.

Also, a dedicated CNG station serving trucks with daily dispensing capacity of 500,000 SCFD to 1,000,000 SCFD of natural gas, equivalent to 14,280 to 28,000 litres of diesel a day, requires investment of approximately N1.4 billion.

However, retrofitting a typical auto workshop under the deal which is found in a filling station requires an investment of approximately N8 million.

Meanwhile, building a new CNG station with 4-10 dispensers requires an investment of about N500 million.

It would be recalled that IPMAN said it was ready to roll out cheap fuel for Nigerians at N100 per litre to cushion the effect of petrol subsidy removal on Nigerians

Okoronkwo had, in the wake of the subsidy removal, announced that the association was 90 per cent ready to roll out CNG as an alternative fuel, which would sell between N100 to N110 per litre before the end of June.

 

 

 

 


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: AFDB
SendShare10492Tweet6557Share
ADVERTISEMENT
Previous Post

Kaduna-Abuja Roadside Businesses Boom As Hostility Eases Off

Next Post

Tribunal Admits EU Report As Exhibit In Presidential Election Matter

Chika Izuora

Chika Izuora

You May Like

Varsity Lecturers Protest Across Campuses
Cover Stories

Varsity Lecturers Protest Across Campuses

2025/08/27
Passengers Narrate Ordeal As NSIB Probes Kaduna Train Derailment
Cover Stories

Passengers Narrate Ordeal As NSIB Probes Kaduna Train Derailment

2025/08/27
CBN Reassures Public On Bank Deposit Safety, Dismisses Licence Revocation Fears
Cover Stories

CBN To Curb PoS Fraud, Orders Geo-tagging Of Devices

2025/08/27
Eid-El-Fitr: PDP Seeks Continuous Prayers For National Growth
Cover Stories

PDP’s Zoning Of Presidential Ticket To South Sparks Comments

2025/08/26
Mechanical Engineer From Kwara — All You Need To Know About New NNPCL Boss Bashir Ojulari
Cover Stories

Oil Theft Nearly 100% Eliminated, Says NNPCL GCEO

2025/08/26
Nigeria
Cover Stories

FG Signs BASA Agreement For Direct Flights To Brazil

2025/08/26
Leadership Conference advertisement

LATEST

Zularich Properties Hands Over New Housing Estate To Buyers, Rewards Realtors

Tinubu Hails NGX Growth, Backs More Capital Market Reforms

NRC Must Prevent Future Train Mishaps — Tinubu

FERMA Completes Emergency Repairs On Failed Sections Of Lagos Road

N6.5b Scandal: CSOs Allege Intimidation, Kano Govt Blames Ganduje, Aide Refutes Claim

Financial Misconduct Allegations: Anglican Church Investigates Bishop

Anti-quackery Committee Seals 6 Health Facilities In Rivers

Bauchi Speaker Urges Youth Parlamentarians To Embrace Selfless Service

TISSF And Matters Arising

Labourer Dies As Wall Collapses At Garki Excavation Site

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.