• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, August 25, 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

FG Invests Over $450m In CNG Value Chain – PCNGi

by Leadership News
9 months ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

The Presidential Compressed Natural Gas Initiative (PCNGi) on Monday said that it has invested more than $450 million in the Compressed Natural Gas (CNG) value chain.

Advertisement

Project director/CEO, PCNGi, Michael Oluwagbemi, disclosed this at the 9th edition of the Nigeria Energy Forum (NEF2024) Day 2, a virtual event in Lagos, with the theme: “Energising sustainable industrialisation”.

According to the PCNGi CEO, the amount goes into things like mother stations, daughter stations and refueling stations as well as conversion centres which are starting to spring up across the nation.
Oluwagbemi, who was represented by Tosin Coker, head of commercial, PCNGi, said the initiative had successfully converted more than 10,000 vehicles from petrol to CNG.

“By 2027, the initiative will have converted more than one million vehicles using petrol to CNG,” he said.
On incidents of explosion of vehicles using CNG, the CEO assured Nigerians that it had taken precautionary measures with different agencies of government to ensure safety.

National coordinator of the GEF Small Grants Programme (SGP), Ibironke Olubamise, managed by UNDP, said the SGP was investing in youth energy innovation for economic growth and environmental sustainability.

RELATED

Passengers Face Flight Delay As Multiple Bird Strikes Hit Air Peace Aircraft

4 Months To Yuletide: Air Peace, United Nigeria Jack Return Tickets To N677,000

15 hours ago
Equities’ Investors Lose N201bn W-o-W Amid Post-MPC Rebalancing

Broad-based Selloffs Deepen Market Losses By N2.29trn W-o-W

16 hours ago
ADVERTISEMENT

NEF group chairman, Daniel Adeuyi, said “The event featured three super sessions on Energising Industrial Revolution, Community Climate Action by GEF-SGP UNDP and Clean Energy Innovations.

“The sessions are to share lessons learnt from real-life projects and build the capacity of young entrepreneurs and cross-industry professionals.”

Director general, National Automotive Design and Development Council (NADDC), Joseph Osanipin, said that the council had trained more than 4,000 auto technicians on how to convert petrol vehicles to CNG.

ADVERTISEMENT

He said the council had started campaigns to sensitise Nigerians on the advantages of using CNG to power their vehicles.

“CNG can guarantee a cleaner environment, it is cheaper and affordable,” he said.

chairman/managing director, Nord Automobile Ltd., Oluwatobi Ajayi, said the company was established to tackle the growing demand for vehicles in Africa and reduce import dependency.

He said that because of the federal government’s CNG initiative, the company had incorporated it into their vehicle production to meet up with the government policy.

Managing director/CEO, Ministry of Finance Incorporated (MOFI), Armstrong Takang, said MOFI was set up in 1959 as the statutory vehicle to hold all the assets owned by the federal government.

“Today, we’ve been able to identify the assets the federal government owns and we are trying to track them. We do have assets, not just locally but globally as well and we must establish visibility over what the federal government owns before we can start talking about managing them.

“So, we want to try to minimise the waste, minimise the overlaps and help to improve output,” he said.

The NEF co-chair, Adekunle Makinde, said, “The 9th Africa Energy Innovation Challenge (AEIC) attracted over 140 entries from 25 different countries across Africa, with over 99 per cent of entries as first-time participants.


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: Compressed Natural Gas (CNG)National Automotive Design and Development Council (NADDC)PCNGi
SendShare10173Tweet6358Share
ADVERTISEMENT
Previous Post

Stakeholders Urge Legislative Reforms, Storytelling To Address GBV

Next Post

SEC Urges Banks To Strengthen Corporate Governance

Leadership News

Leadership News

You May Like

Passengers Face Flight Delay As Multiple Bird Strikes Hit Air Peace Aircraft
Business

4 Months To Yuletide: Air Peace, United Nigeria Jack Return Tickets To N677,000

2025/08/24
Equities’ Investors Lose N201bn W-o-W Amid Post-MPC Rebalancing
Business

Broad-based Selloffs Deepen Market Losses By N2.29trn W-o-W

2025/08/24
Presco Records N58.6bn Pre-tax Profit In Q1
Business

Presco’s Shareholders Approve N26.3bn Dividend

2025/08/24
Nigeria Leads Africa In Stablecoin Adoption with $22bn In Transactions
Business

Nigeria Leads Africa In Stablecoin Adoption with $22bn In Transactions

2025/08/24
Experts Advocate Strong Partnership, Intervention Models To Accelerate Shift To Renewable Energy
Business

Experts Advocate Strong Partnership, Intervention Models To Accelerate Shift To Renewable Energy

2025/08/24
FCMB Partners Leading Real Estate Firms On Affordable Housing
Business

FCMB Group Proposes Equity Capital Raise

2025/08/24
Leadership Conference advertisement

LATEST

Gunmen Kill Couple, 5 Others In Imo Community

At Enugu NBA Confab, Sultan Harps On Integrity Of Judicial System

At NBA Confab, Malema Recalls Nigeria’s Support For South Africa During Darkest Hours

BBNaija10: After Victory, Gigi Jasmine Evicted

BBNaija10: Ex-HoH Victory Evicted

Concerns As Unregulated Sexual Stimulants Flood Nigeria, Others

Airport Saga: Gov Eno Sues For Peace, Pledges Support For Ibom Air, Emmanson

BBNaija10: Mensan Becomes ‘Most Influential’ Housemate Of Week 4

JUST-IN: Benue Assembly Elects Ermberga As New Speaker

Kaduna NUJ Chairman Alabelewe Loses Wife

© 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.