New Telegraph

PCNG: Nigeria Records $500m Investment, 10,000 Jobs In One Year

The Presidential Compressed Natural Gas Initiative (PCNGI) has announced significant strides in expanding Nigeria’s CNG infrastructure and investment base, just seven months into its operation.

Reacting to recent media reports suggesting infrastructure gaps in the sector, the PCNGI disclosed that it has attracted over $500 million in investments within one year, a development credited for the rapid establishment of CNG conversion centres and fueling stations across the country.

In a statement issued on Monday in Abuja by the Programme Director and Chief Executive of PCNGI, Engr. Michael Oluwagbemi, the initiative said more than 175 CNG stations are being rolled out nationwide through various private and public sector partnerships.

He added that over 255 conversion centres — which did not exist as of 2024 — are now operational.

“One year out with over 50,000 vehicle count and rising to 100,000 — the queues at CNG stations are naturally going to rise due to such unprecedented increase, up from a mere 4,000 vehicles,” Oluwagbemi stated.

“This is a direct result of massive incentives provided by the administration and growing awareness of the economic benefits of the switch. Nigerians love CNG, and the programme is working.”

He noted that both the private and public sectors are ramping up infrastructure to meet the growing demand for CNG vehicles. According to him, two new daughter stations were commissioned in Abuja last week by AY Shafa and Femadec, which plan to roll out 9 and 21 additional daughter stations respectively over the next year.

Femadec is also leading the initiative to build CNG ecosystems in 20 universities, while Greenville is investing in LCNG stations in 51 locations across the North, Southeast, and other hard-to-reach areas. In collaboration with PCNGI, 24 additional sites will be launched within the next 6–9 months, with Ilorin already active and more coming in Port Harcourt, Ado Ekiti, Lokoja, Abuja, Aba, and Enugu within 60 to 120 days.

Oluwagbemi further revealed that NNPC Limited is also investing in the sector, with eight additional stations being completed to complement its existing 12.

An additional 40 of its 100 stations in Phase 2 of rollout are also nearing completion. Similarly, Bovas is launching two ultra-modern CNG stations in Ibadan, while NIPCO is working on eight more stations to add to the 23 already operational across the country.

The Midstream and Downstream Gas Infrastructure Fund (MDGIF) has also joined in, awarding equity investments to 10 new entrants, three of which are focused on developing CNG stations. This follows last year’s ₦123 billion investment by the MDGIF, with four of the six funded projects targeting the CNG sub-sector.

“In just one year, the CNG sector has attracted over $500 million in investments, created more than 10,000 direct jobs, and birthed 255 new conversion centres and 53 daughter stations,” Oluwagbemi said. “Nigeria is making tangible progress in CNG infrastructure, but engineering transformations take time. It took over 70 years to get addicted to petrol and diesel — we won’t be weaned off in just seven months.”

The PCNGI called on skeptics and media outlets to focus on the positive developments in the sector, highlighting the affordability and efficiency of bi-fuel vehicles.

“We doubt anyone would choose to revert a bi-fuel vehicle running on both CNG and petrol to petrol alone — CNG stations on a journey can slash travel costs by up to 90 percent,” the statement read.

“At the Presidential CNG Initiative, we remain committed to our mandate and are working hard across the value chain to deliver the benefits promised by Mr. President to all Nigerians. Rome wasn’t built in a day, and neither will the CNG revolution.”

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