Success Nwogu 
The Programme Director and Chief Executive of the Presidential Compressed Natural Gas Initiative (PCNGI), Michael Oluwagbemi, has said that Nigeria has attracted over $500 million in investments in its push towards alternative transportation fuels.
He also said that no fewer than 50,000 vehicles had been converted to run on Compressed Natural Gas within its first year.
In a statement Oluwagbemi also said the programme which officially commenced in May 2024, has already created over 10,000 direct jobs and led to the establishment of 255 new vehicle conversion centres and 53 CNG dispensing daughter stations nationwide.
He stated that prior to May 2024, the adoption of CNG in Nigeria was virtually non-existent, with only 11 CNG stations nationwide, remnants of a pilot scheme initiated by the then Nigerian National Petroleum Corpo ration in 2017.
Oluwagbemi said: “We note the latest alarmist headlines on the fate of the thriving CNG sector by a sceptical section of the media. But such narratives ignore the incredible progress made in just seven months.
“From May 2024, the PCNGI set out to implement its mandate in line with the directive and vision of Mr President, which was to: Incentive the adoption of CNG and EV vehicles to ensure sustainable transportation for all Nigerians, facilitate investments into the alternative energy sector for transportation and coordinate regula – tion of the emerging sector for rapid growth.
“Because the initial desire of the President was greeted with scepticism, the start-up work of the PCNGI was to embark on an intensive awareness campaign which was conducted from May to October 2024; hardly any CNG vehicles were on our roads and no demand at the few eleven CNG stations nationwide since a 2017 pilot by NNPC.”
He added: “In one year, the CNG sector has attracted over $500m in investments and created over 10,000 direct jobs. 255 new conversion centres that didn’t exist last year and 53 daughter stations exist today as a result of some of those investments.
“One year out, we are pleased that even the doubting Thomases are singing a new tune. With over 50,000 vehicles and rising to 100,000, the queues at CNG stations are naturally going to rise because of such an unprecedented increase (from a mere 4,000) in vehicle count as a result of massive incentives provided by the administration and the breakthrough in awareness due to the economic benefits of the switch.
“Nigerians love CNG, and the programme is working. With over 50,000 converted vehicles on Nigerian roads, and projections to hit 100,000 soon, it is expected that CNG station queues will grow due to the unprecedented rise in demand.
‘’To stabilize our economy and enhance national energy security, we must urgently ramp up crude oil production. A strategic part of our agenda is to prioritize indigenous expertise, ensuring that Nigerian innovation and enterprise become central to economic growth and industrial transformation.
‘’Under President Bola Ahmed Tinubu’s Renewed Hope Agenda, we have received a clear directive: reengineer the entire energy value chain to make it more efficient, inclusive, and attractive to both local and global investors.
A major component of this vision is having comprehensive seismic data across all exploration fronts—an essential tool for de-risking investment and making sound policy and operational decisions.”
He said the Petroleum Industry Act (PIA) has laid a solid foundation by streamlining regulations, improving the fiscal terms and enhancing operational transparency.
He noted that through a series of Executive Orders, President Bola Tinubu had approved measures aimed at catalyzing investment and ensuring Nigeria remains Africa’s most dynamic and investable energy market.
He said: ‘’We are no longer just enabling investment—we are fostering bankable, de-risked, and sustainable opportunities in African most dynamic energy landscape. This is a new era of enterprise.’’
