• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, June 29, 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
7 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

Federal Gov’t, IFAD Train 600 Farmers In Budgeting, Farming Techniques In Benue

We’re Making Abia Farmers Globally Visible – Agric Firm

8 hours ago
Marginal Field Awardees: NUPRC Restates Commitment To Transparency Culture

Oil Prices Plunge 6% As Middle East Ceasefire Eases Supply Fears

12 hours ago

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.

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.


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

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Compressed Natural Gas (CNG)National Automotive Design and Development Council (NADDC)PCNGi
SendShareTweetShare
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

Federal Gov’t, IFAD Train 600 Farmers In Budgeting, Farming Techniques In Benue
Agriculture

We’re Making Abia Farmers Globally Visible – Agric Firm

2025/06/29
Marginal Field Awardees: NUPRC Restates Commitment To Transparency Culture
Business

Oil Prices Plunge 6% As Middle East Ceasefire Eases Supply Fears

2025/06/29
New Afreximbank President To Restructure African Trade
Business

New Afreximbank President To Restructure African Trade

2025/06/29
Oyetola
Business

Federal Gov’t Launches Life-jacket Safety Initiative

2025/06/29
Tech Scholar To Drive Academic Vision As OAU’s New DVC
Business

Tech Scholar To Drive Academic Vision As OAU’s New DVC

2025/06/29
MONEY MARKET: Assessing Customers’ Losses To Fraudsters Through Digital Banking
Business

Cybercrime: Half Of Victims Paid Ransom In 2025

2025/06/29
Leadership Conference advertisement

LATEST

Don’t Help Anyone Carry Bags You Didn’t Pack, NDLEA Warns Travellers

Delta South APC Leaders, Stakeholders Endorse Tinubu, Oborevwori For Second Term

Ex-Footballer, Businessman, Others Arrested Over Illicit Drugs

Saudi Arabia Okays Burial Of Late Dantata In Madina On Monday 

Sultan Tasks Political Leaders On Motto Of National Institute

Kanu, Ikpeba To Attend NNL Super 8 Opener

WAFCON 2024: CAF Celebrates Former Super Falcons Captain, Ebi

70% Nigerians Without Insurance Cover — NCRIB 

Ojude Oba: Brands, Celebs Find New Spotlight

Mádé Kuti Drops New Single ‘Wait And See’

© 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.