• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, June 9, 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
6 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

We’ll Maintain Sale Of Cement Price At N3500 In 2024 — BUA Chair

Deepen Investments, Partnership With Nigeria, BUA Group Chairman Urges Britain, Allies

3 hours ago
Green Energy Strengthens Pipeline Protection With New Onshore Terminal

Green Energy Completes First Crude Oil Export From Otakikpo Terminal

3 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

START EARNING US DOLLARS as a Nigerian ($35,000) monthly. Companies are sacking their workers due to AI (artificial intelligence), business owners are in panic mode. Only the smart will make it. Click here


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

We’ll Maintain Sale Of Cement Price At N3500 In 2024 — BUA Chair
Business

Deepen Investments, Partnership With Nigeria, BUA Group Chairman Urges Britain, Allies

2025/06/09
Green Energy Strengthens Pipeline Protection With New Onshore Terminal
Business

Green Energy Completes First Crude Oil Export From Otakikpo Terminal

2025/06/09
Delta Flood Victims Receive Relief Materials, Palliatives From NDDC
Business

Pollution: NDDC Launches Tree Planting Campaign In 9 States

2025/06/09
I Don’t Take This Award For Granted – Dangote, Person Of The Year 2024
Business

‘Dangote Group Paid N450bn Taxes In 2024’

2025/06/09
NICA Applauds FG On Creation Of National Credit Guarantee Company, Assures Support
Business

NICA Applauds FG On Creation Of National Credit Guarantee Company, Assures Support

2025/06/09
Ways To Retain Existing Customers For Business  Continuity
Business

5 Listed Firms Raise N108bn Commercial Paper To Boost Working Capital

2025/06/09
Leadership Conference advertisement

LATEST

Cult Clash: Pandemonium In Edo Community As Lawmaker Debunks Link

Anambra Govt To Establish South East Digital Tribe

Wife Seeks State, FG’s Help To Find Missing Husband

UNOC: Diri Calls For Action To Tackle Rising Ocean Threats

Insecurity: COAS Boosts Morale Of Frontline Troops, Harps On Professionalism

Akwa Ibom: 2 Ethnic Nationalities In War Of Words Over Ex– Gov Emmanuel’s Scorecard

Over 30 Children Disappear ln Delta Community Within 5 Months

Sanwo-Olu Hails Tinubu’s Agenda, Unveils More Coaches For Blue Rail

INEC: MOP Seeks Registration Of Political Party Ahead Of 2027 Poll IOgun

Ondo Landlords Kick Against Enforcement Of Court Order Despite Stay Of Execution

© 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.