Tag: PCNGi

  • PCNGI commissions 40 electric-powered buses

    PCNGI commissions 40 electric-powered buses

    The Presidential Compressed Natural Gas Initiative (PCNGI) yesterday commissioned 40 electric-powered vehicles in Abuja to advance the country’s clean energy transition.

    The Minister of State for Gas, Ekperikpe Ekpo, who launched the buses, said the rollout marks “another bold step in Nigeria’s journey towards cleaner, smarter and more sustainable mobility.”

    Ekpo, who was represented by his aide, Abel Igheghe, said the initiative reflects the government’s commitment to cleaner fuels such as compressed natural gas (CNG), liquefied petroleum gas (LPG), and liquefied natural gas (LNG), and electric mobility.

    “This gathering is not just a product showcase; it is a statement of intent. We will continue to support initiatives that align with our clean energy aspirations.

    “Electric vehicles are an important part of the future, and they will create new industries, new jobs, and new opportunities for Nigerian innovators.”

    He said the Ministry of Petroleum Resources will sustain policies that promote alternative fuels, deepen gas utilisation, and encourage technology transfer.

    “Nigeria’s clean mobility journey must be inclusive. It must deliver affordable transport options for ordinary citizens and strengthen our national emission-reduction targets,” he said.

    In his remarks, the Executive Chairman of PiCNG, Ismael Ahmed, said the initiative is focused on delivering affordable and reliable mobility for Nigerians.

    “This is clean energy. This is affordable energy. This is available energy. What matters is the ordinary Nigerian — the person in Kano, Zanya, or Daura whose transportation costs must come down,” he said.

    Ahmed said PiCNG will power charging stations with CNG to address concerns about the electricity supply.

    “We have sunlight, we have gas, and we will use them to deliver cheaper and cleaner mobility,” he said.

    He added that the 40 newly unveiled electric buses demonstrate President Bola Tinubu’s commitment to providing affordable, reliable, and cleaner transportation across the country.

    “This bus is not just for a showcase. It will be deployed within the week, and Nigerians will begin to see it in several states offering cheaper transportation, especially during this festive season,” he said.

    PiCNG also reaffirmed its partnership with private investors to expand charging infrastructure nationwide, including plans for more stations along major transport corridors.

    Earlier at a press briefing in his office, the Pi-CNG chairman announced the launch of Pi-CNG 2.0, the next phase of Nigeria’s clean mobility transition.

    Ahmed said the Initiative, created to cushion the impact of fuel subsidy removal, has evolved into a catalyst for national energy transformation.

    “From the onset, the mandate was clear: provide relief from rising transport costs, deepen gas utilisation, stimulate jobs, and catalyse economic growth,” he said.

    He highlighted key achievements over the last 20 months, including activation of CNG value chains in 28 states, establishment of more than 58 refuelling stations, deployment of thousands of NGV buses and tricycles, onboarding of over 300 automotive conversion partners, training of more than 6,000 Nigerians — including 150 armed forces personnel and 220 women in Kano — and securing more than $2 billion in investment commitments.

    Other milestones include progress toward local manufacturing of CNG equipment at the Ajaokuta Industrial Park, strengthened gas-supply infrastructure across the northern corridor, partnership with the Niger Delta Development Commission (NDDC) to expand CNG stations in the Niger Delta, and activation of the national electric-mobility programme.

    Ahmed confirmed that the Kano State CNG launch will hold in the first quarter of 2026, with President Tinubu expected to attend.

    As Pi-CNG enters its 2.0 phase, he said the focus will remain on the availability, affordability, and acceptability of clean-energy mobility solutions.

    “Our mission is unwavering: to build a resilient, multi-energy transport ecosystem that lowers transport costs and positions Nigeria as a continental leader in clean mobility,” he said.

  • FG didn’t increase CNG prices, says PCNGI

    FG didn’t increase CNG prices, says PCNGI

    …says hikes are from private investors

    The Federal Government has said it did not hike the prices of the Compressed Natural Gas (CNG).

    It noted that the recent increases were from the private investors.

    The Presidential Compressed Natural Gas Initiative (PCNGI), Brands and Corporate Communications Manager, Matilda Johnson, made this known in a press on Thursday.

    PCNGI said, “It must also be emphasized that the recent pump price adjustments announced by certain operators are purely private-sector decisions and not the outcome of any government directive or policy.”

    The described the reports which attributed the upward review of prices on the PCNGI as misleading.

    The statement reads in part, “The Presidential Initiative on Compressed Natural Gas (PiCNG) wishes to address recent misleading and outright false reports suggesting that the Federal Government has removed subsidy or increased the price o f Compressed Natural Gas (CNG). This is incorrect.

    Read Also: Plan underway to slash conversion cost by 50%, says PCNG

    “For absolute clarity: while pricing matters fall under the purview of the appropriate regulatory agencies, no directive or policy has been issued by the Federal Government to alter CNG pump prices. 

    “The mandate of PiCNG, as directed by President Bola Ahmed Tinubu, is to catalyze the development of the CNG mobility market and ensure the adoption of a cheaper, cleaner, and more sustainable alternative to Premium Motor Spirit (PMS) and diesel across the country.

    “So far, through the collaboration and commitment of relevant government agencies, the sector has witnessed monumental enthusiasm and growth.

     “Encouragingly, this progress has already attracted close to one billion dollars in private sector investment, underscoring confidence in the market’s potential.

    “The federal government assures Nigerians that CNG will always remain significantly cheaper, cleaner, and more affordable than PMS and diesel. Our focus remains on deepening CNG penetration nationwide and encouraging broader private sector participation to ensure availability and affordability for all.”

  • PCNGI to release list of newly-approved CNG conversion centres nationwide

    PCNGI to release list of newly-approved CNG conversion centres nationwide

    • Says CNG-powered vehicles exceed 100,000 in one year

    The Presidential Compressed Natural Gas Initiative (PCNGI) yesterday said that  it will soon release a comprehensive list of Compressed Natural Gas (CNG) vehicles conversion centres, including the newly approved ones, nationwide.

    Brand & Corporate Communications Manager, PCNGI, Ms Matilda Johnson, said this in a statement issued in Abuja.

    Johnson said that the move was to ease the stress encountered by motorists who choose to have alternative source of fueling for their vehicles.

    She said that the release of the list of the newly approved CNG conversion centres was necessary to correct a misleading report that the PCNGI intentionally pulled down a website of conversion centres nationwide to conceal information.

    “The website is undergoing scheduled updates to reflect a larger, more inclusive list of newly approved conversion centers, in line with our transparency standards,” she said.

    Read Also: PCNGi attracts $800m investments in nine months

    According to her, an article published in a section of the media, represents a regrettable deviation from the principles of ethical journalism, while the writer relied on conjecture and unfounded innuendos to attack a nationally impactful programme.

    “Since its launch, the PCNGI has facilitated over $800 million in private and public investments, created more than 100,000 direct and indirect jobs, and significantly accelerated the adoption of cleaner and cheaper energy alternatives.

    “Today, over 100,000 CNG vehicles are operational across Nigeria — a fivefold increase in just one year.

    “The recent landmark deployment by Dangote Group, featuring 4,000 CNG-powered trucks, 100 virtual pipeline vehicles, and multiple daughter stations, is just one high-profile testament to the Initiative’s impact.

    “Additionally, our partnership with local MSMEs has led to the rise of over 300 conversion centers, from just seven at inception, with an average of 20 new centers opening weekly.”

    Johnson regretted that tangible outcomes of the programme were neglected while the conveyor of the misinformation engaged in speculative reporting.

    “The publication also irresponsibly misrepresented the role and identity of one Mr David Idakwo, who works with PCNGI, portraying him as a senior decision-maker at PCNGI.This is patently false.

    “Idakwo, a mid-level field officer employed in late 2024, holds no executive role within the organisation and is not involved in strategic decision-making.

    “Efforts to link his past private enterprise affiliations to allegations of nepotism are not only misleading but an affront to the right of every Nigerian to legitimate business pursuits.

    “At PCNGI, we remain unwavering in our commitment to transparency, public accountability, and national development.

    “Our ongoing efforts to ensure proper distribution of government-subsidised kits and enforce compliance have inevitably unsettled those seeking to benefit from corruption or sabotage,” she added.

  • PCNGI denies allegations of nepotism and concealment

    PCNGI denies allegations of nepotism and concealment

    The Presidential Compressed Natural Gas Initiative (PCNGI) has denounced to a recent report by Premium Times, accusing the online publication of engaging in what it described as “unethical journalism” and a “misrepresentation of facts.”

    In a statement released on Thursday and signed by Matilda Johnson, Brand and Corporate Communications Manager of the initiative, the PCNGI expressed “deep concern over the unprofessional and misleading report,” asserting that the article deviated from the principles of ethical journalism and relied on “conjecture, factual misrepresentation, and unfounded innuendos.”

    Johnson stated that the initiative has recorded landmark achievements since its inception, including facilitating over $800 million in both private and public investments, creating more than 100,000 direct and indirect jobs, and significantly advancing Nigeria’s transition to cleaner energy.

    “Today, over 100,000 CNG vehicles are operational across Nigeria — a fivefold increase in just one year,” she said, highlighting the impact of the initiative.

    She cited the recent large-scale deployment by the Dangote Group — which included 4,000 CNG-powered trucks, 100 virtual pipeline vehicles, and multiple daughter stations — as a major endorsement of PCNGI’s progress. 

    Johnson also noted that PCNGI’s partnership with local micro, small, and medium-sized enterprises (MSMEs) has resulted in a rapid expansion of vehicle conversion centers.

    “At inception, there were only seven conversion centers nationwide. Today, that number has risen to over 300, with an average of 20 new centers opening weekly,” she explained.

    Responding to Premium Times’ claim that the list of approved conversion centers was removed from PCNGI’s website to suppress information, the initiative clarified that the website is undergoing scheduled updates. 

    “The update aims to reflect a larger, more inclusive list of newly approved centers, in line with our transparency standards,” Johnson emphasized.

    The statement also addressed what it called a “false portrayal” of a PCNGI staff member. 

    It described as “patently false” the report’s assertion that one Mr. David Idakwo holds a senior decision-making position within the organization.

    “Mr. Idakwo is a mid-level field officer employed in late 2024. He holds no executive role and is not involved in strategic decision-making. Efforts to link his previous private enterprise affiliations to allegations of nepotism are not only misleading but an affront to the right of every Nigerian to legitimate business pursuits”, Johnson clarified.

    Read Also: PCNGi attracts $800m investments in nine months

    The PCNGI also suggested that its commitment to transparency and enforcement may have upset vested interests opposed to reforms in the gas conversion ecosystem.

    “Our ongoing efforts to ensure proper distribution of government-subsidized kits and enforce compliance have inevitably unsettled those seeking to benefit from corruption or sabotage. We view this, perhaps, as the root of Premium Times’ sustained hostility”, Johnson stated.

    The statement concluded with a call for a return to journalistic integrity. 

    “Constructive criticism is welcome, but deliberate distortion in the service of sensationalism or hidden agendas only undermines national progress. Nigeria deserves journalism that builds, not journalism that destroys,” Johnson said.

    The PCNGI reaffirmed its commitment to public accountability, clean energy expansion, and national development, urging the media to play its part in fostering a fact-based, responsible public discourse.

  • PCNGi attracts $800m investments in nine months

    PCNGi attracts $800m investments in nine months

    Investments worth $800 million have been attracted by the Federal Government through its Compressed Natural Gas Initiative.

    The $800 million represents 32 per cent of the $2.5 billion investment target projected by the Presidential Compressed Natural Gas Initiative (PCNGi)  for three and a half years.

    The target was set nine months ago.

     The Programme Coordinator/CEO PCNGi, Michael Oluwagbemi, announced the figure during a meeting with the Lagos State Waterways Authority (LASWA)  yesterday.

    The meeting was part of the drive by the body to introduce Compressed Natural Gas (CNG) to boat operators.

    “We expect up to $2.5 billion worth of investments in three and a half years. So far, we have gotten an announcement of $800 million, which is not a bad job in nine months,’’ Oluwagbemi told reporters on the sidelines of the meeting.

    He expressed optimism that $2.5 billion target by the PCNGi be met by next year.

    Read Also: How PCNGI is boosting supply to meet demand for CNG

    ‘’I am very sure we would exceed the  $2.5 billion investment. I am also sure that by this time next year, we will have 125 to 150 stations working in Nigeria because every day, new stations are being inaugurated,” he said.

    Oluwagbemi explained that the meeting was aimed at sensitising boat operators on the need to key into the CNG initiative.

    He added: “We are here today(yesterday) to begin to consider the necessary steps towards ensuring that we can apply compressed natural gas (CNG) in the marine environment. We recognise that about five million Nigerians travel by water every day

       ‘’For us, it is very important that we come here to understand their needs with a view to future application.

    “We have established that water passengers in Nigeria are equally as important as the land passengers. They are all part of our economy, and with most states having significant waterways, it is very important that we think about how to also provide them this alternative fuel, and we have established that it is possible to run boats on CNG.”

    Oluwagbemi called for necessary incentives, especially infrastructure, to achieve the objectives.

    He said that despite the huge progress that  PCNGi has made, its operations are still being blackmailed by those who are against national progress.

    Oluwagbemi revealed that some of such personalities have already been arrested and handed over to law enforcement agencies for prosecution.

  • How PCNGI is boosting supply to meet demand for CNG

    How PCNGI is boosting supply to meet demand for CNG

    The Presidential Compressed Natural Gas Initiative (PCNGI) Chief Executive Officer (CEO), Engr. Michael Oluwagbemi, yesterday revealed that in the bid to meet the growing demand for the CNG, the development of over 175 new stations are ongoing.

    Responding via a WhatsApp message to The Nation’s inquiry on what the PCNGI is doing to address the shortage of the autogas in the country, he disclosed that over 40 new stations have been opened in 2025 only.

    “More than 40 new stations have opened this year, and over 175 are in various stages of development. These infrastructure  is nationwide,” he said.

    Oluwagbemi vowed that the PCNGI would sustain the collaboration with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to provide the infrastructure needs of the auto CNG users.

    According to him, with the Midstream and Downstream Gas Infrastructure Fund (MDGIF) investments in the project SPROUT, the sector would deploy CNG refilling infrastructure in 20 universities in the country.

    He recalled that while the 10 universities in the South and another 10 in the South have been completed the Federal Government has already unveiled the one in the Yakubu Gowon University, Abuja.

    Read Also: I’m committed to governance – Tinubu

    Oluwagbemi said, “PCNGI continue to work with investors and regulators (NMDPRA) alike to respond to infrastructure needs of Auto CNG Users. “The MDGIF investments in the Project Special Palliative Relief on University Transportation (SPROUT) will unlock CNG refilling infrastructure in 20 universities, 10 in the North and 10 in the South. The first 6 are already completed with Abuja already launched.”

    He however dropped the hint of the government plans for region without gas penetration owing to lack of infrastructure.

    Oluwagbemi said in partnership with the Nigerian National Petroleum Company Limited (NNPCL), there would be a launch of five mini Liquefied Natural Gas (LNG) plants in Ajaokuta for meantime supply of gas to the North West and North East.

    He said: “And for regions with gas penetration challenges due to lack of pipeline, the PCNGI has collaborated with NNPCL to launch 5 Mini LNG plants at Ajaokuta that will in the short term unlock gas for the North West and  North East regions.”

  • PCNGI flags off implementation of concessionary pricing framework

    PCNGI flags off implementation of concessionary pricing framework

    The Presidential Compressed Natural Gas Initiative (PCNGI) yesterday flagged off the implementation of the concessionary pricing framework for the CNG.

    The framework has insulated the CNG autogas from competing with the pricing for CNG for power, industry and other usages.

    Its Chief Executive Officer (CEO), Engr. Michael Oluwagbemi made this known to reporters during “The Mobility CNG Framework Kick-Off Event, in Abuja.

    He said: “What we are doing here today is to flag off the implementation of that concessionary pricing framework, because it was necessary, as you can imagine, that in an economy where gas is being used for various purposes, that it is possible for someone to say, I want to make demands of gas for auto CNG, since it is priced lower, and then go and use it for power.”

    Oluwagbemi further noted that  since there was a potential opportunity for arbitrage, the PCNGI has created the proper marketplace where people can demand and pay for CNG, use it in the auto CNG market. 

    He recalled that last year the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Chief Executive, Engr. Farouk Ahmed approved the concessionary pricing for autogas CNG.

    He explained that the framework is an incentive that allows CNG for autogas to be priced lowed than that of other usage as power and industry.

    Read Also: 175 new CNG stations coming, says PCNGI boss

    According to him, it is one of the leverages President Bola Ahmed Tinubu has approved for the autogas CNG sector.

    His words “It allowed autogas CNG to be priced as a strategic industry, much lower than, say, gas for power or gas for industries, enabling, as one of the incentives Mr. President has approved for the autogas CNG sector, on the back of his reforms, energy reforms, including the institution of the Presidential CNG initiative.”

     He said the market has been growing tremendously since the last year from  just 20 daughter stations in the country to well over 65 as at  (today) Tuesday.

     He revealed that two new stations were opened by 

    BOVAS in Ibadan on Monday.

    According to him, about 28 stations are springing up in the next 45 weeks.

    Stressing the rate at which the market is growing, he recalled that in addition to the 175 stations at construction stage, the Dangote Refinery has announced the establishment of 100 daughter stations.

  • 175 new CNG stations coming, says PCNGI boss

    175 new CNG stations coming, says PCNGI boss

    The Presidential Compressed Natural Gas Initiative (PCNGI) Chief Executive, Engr. Michael Oluwagbemi has said investors are currently developing 175 new CNG stations nationwide.

    He said the incoming stations are in addition to the 53 daughter stations already operational.

    He stressed that there has been more than $500 million invested in the sector within the past year.

    This was made known in the press statement the PCNGI boss issued yesterday.

    Oluwagbemi recalled that since the initiative’s launch in May 2024, it has made progress from a modest take off of just 11 CNG stations nationwide.

    He said, “We have witnessed an unprecedented increase in both infrastructure and vehicle adoption.”

    According to him, the number of CNG vehicles on Nigerian roads has surged from 4,000 to over 50,000, with projections to reach 100,000 within this year.

    He also said the growth has stimulated demand for refueling stations, prompting significant private and public sector investments with companies such as AY Shafa, Femadec, Greenville, NNPCL, Bovas, and NIPCO spearheading the development of new stations, covering major urban centers and underserved regions alike.

    The PCNGI said it is also supporting the launch of 24 new sites over the next six to nine months, with several already operational, including the first activated site in Ilorin. These efforts are complemented by investments from the Midstream Downstream Gas Infrastructure Fund, which recently awarded equity funding to gas projects focused on expanding the CNG network.

    Oluwagbemi acknowledged the skepticism that greeted the initiative’s early days but urged patience, noting that “engineering feats take time” and emphasising the long-term benefits of transitioning to cleaner, more affordable fuel options.

    “From May 2024, the PCNGI set out to implement its mandate in line with the directive and vision of Mr. President, which were 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 regulation of the emerging sector for rapid growth. “Because the initial desire of the President was greeted with skepticism, 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 NNPCL. Many, even our most ardent adherents, were not convinced anyone would want CNG vehicles. Misinformation and fake news on CNG dominated the media space,” Oluwagbemi explained.

    “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 unprecedented increase (from a mere 4000) in vehicle count as a result of the massive incentive 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.

    “The private sector, as well as public partners, that will develop the necessary infrastructure to meet the rising demand of CNG vehicles, are taking note. Just last week, two new daughter stations in Abuja were commissioned, with AY Shafa and Femadec investing in these ventures. He said that both entities have nine and 21 daughter stations, respectively, in the works in the next one year.

    “For Femadec, the dual benefit of leading the charge of building a CNG ecosystem in 20 universities is an icing on the cake. This week, Yola is stepping up with Greenville investing in its intensive roll out of LCNG stations in 51 locations across the North and SE as well as hard-to-reach places. Over 175 stations are being rolled out nationwide by various partners.

    Read Also: Opeifa: CNG will ensure sustainable future for railways

    In addition to Greenville and Femadec, the PCNGI is backing partners to roll out 24 sites in the next six to nine months, with one site already activated in Ilorin. Port Harcourt, Ado Ekiti, Lokoja, Abuja, Aba and Enugu will all go live within the next 60 to 120 days to dispense CNG, to scale the refueling on-lending initiative heralded with the first launch in Ilorin last year that have already transformed that local economy.

    “Aside from these, NNPCL is investing. Additional eight stations to its current stock of 12 are being finished as we speak and another 40 of 100 in Phase 2 of her rollout plan is being finalised. Bovas is launching two sites in Ibadan any moment from now, from its eight-station roll out of ultra-modern CNG stations and ecosystem. NIPCO’s eight stations in addition to 23 already live across the country will be completed within six months,” he said.

    Recall that the Midstream Downstream Gas Infrastructure Fund, awarded 10 new entries equity investments to develop their various gas projects. Three of these were focused on developing CNG stations. This was in addition to four of the six of initial N123 billion investments made last year by MDGIF being directed at the sub-sector.

    In one year, the CNG sector has attracted over $500 million 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.

    “Nigeria is making progress with respect to CNG infrastructure but engineering feats take time. It took over 70 years to get addicted to petrol and diesel, it will take more than seven months to be weaned off the addiction.

    “We plead patience with the skeptics. At the Presidential CNG Initiative, we remain committed to our mandate while working hard across the value chain to deliver the goodies Mr. President has promised to all Nigerians. Rome was not built in a day, and CNG will take more than a few days,” Oluwagbemi stated.

  • PCNGI threatens legal action over alleged blackmail campaign

    PCNGI threatens legal action over alleged blackmail campaign

    The Presidential Compressed Natural Gas Initiative (PCNGI) has warned of impending legal action against what it describes as a “sponsored smear campaign” aimed at discrediting its operations, vowing not to succumb to blackmail or public intimidation.

    In a strongly worded statement issued by the Technical Adviser of PCNGI, stakeholder management and public engagement, Kenechukwu Chukwu, the Initiative disclosed that it has been the target of a coordinated online and media assault allegedly linked to a former participant in its Conversion Incentive Program.

    The group behind the campaign, identified as the Independent Conversion Sector (ICS), is reportedly associated with Mr. Charles Goriola Yakub of C&L Smart Energy Solutions, based in Abuja.

    PCNGI said it is preparing legal and law enforcement responses to what it termed “electronic blackmail and cyber bullying,” and warned that those involved would be held accountable for their public claims.

    “In due course, legal actions and reports to law enforcement on the ongoing electronic blackmail and cyberbullying by the subject will also be made. We hope they are ready to defend their spurious claims in public,” the statement said.

    The dispute follows a Freedom of Information (FOI) request submitted by C&L Smart Energy Solutions, seeking details of the Initiative’s kit distribution process, approval mechanisms for conversion centres, and any associated infractions.

    The Initiative has, however, defended the transparency and integrity of its processes.

    PCNGI stated that C&L Smart Energy was suspended from its program in December 2024 after internal investigations revealed violations involving the sale of government-issued CNG kits, which were meant to be installed free of charge for commercial vehicle operators.

    The case, the Initiative said, has since been referred to the Economic and Financial Crimes Commission (EFCC) for further investigation.

    “We take the integrity of this program seriously. We urge the press and public not to be distracted by orchestrated attempts to derail the Initiative’s progress through falsehoods and intimidation,” Chukwu said.

    PCNGI reaffirmed that it does not handle procurement or award contracts directly and operates as a facilitative body in collaboration with relevant government agencies.

    The Initiative pledged to continue its mission to promote clean, affordable transportation powered by Compressed Natural Gas (CNG) and electric vehicles across Nigeria.

    “We remain focused on our mandate and will not be deterred by those seeking to undermine a national effort for personal gain,” the statement concluded.

  • PCNGI targets $1bn investment in 2025 — CEO

    PCNGI targets $1bn investment in 2025 — CEO

    …Says initiative attracts over $491mn private investment in one year 

    The Presidential Compressed Natural Gas Initiative (PCNGI) is aiming to attract $1 billion in investments into Nigeria’s alternative fuel sector by the end of 2025, 

    The initiative’s Project Director and Chief Executive Officer, Engineer Michael Oluwagbemi, who disclosed this on Monday while speaking at the State House in Abuja during the “Meet the Press” engagement with journalists, expressed confidence that the ambitious investment target is well within reach, citing recent progress in the sector.

    Oluwagbemi also disclosed that the PCNGI had secured over $491 million in private sector investments within the past one year to boost the Automotive CNG sector.

    The PCNGI, launched by President Bola Ahmed Tinubu on October 1, 2023, is aimed at facilitating the adoption of compressed natural gas (CNG) and electric vehicles (EVs) in Nigeria, as a response to the removal of fuel subsidies and the rising cost of transportation. 

    “We’ve set a goal of about $1 billion of investment for ourselves this year. I think we have made appreciable progress towards achieving that. If I just take the hundred additional NNPC investments in daughter stations, that’s close to $50 million, and the $27 million arrested, we’re already close to $100 million in the last one month alone”, Oluwagbemi said. 

    According to him, continued growth in investment inflows could see the initiative surpass its target, saying “so if I’m doing about $100 million a month, I think I will be close to $1.2 billion by the end of the year. So yes, I think I’m confident we’ll hit our $1 billion goal.”

    Oluwagbemi also provided updates on the initiative’s infrastructure expansion, particularly in the areas of refueling and conversion capacity. 

    “We have a goal of having 500 conversion centers set up this year. To have a total of 500 conversion centers at the end of the year means an additional 300 are supposed to be set up this year”, he said. 

    He added that the expected increase in conversion centers will significantly expand Nigeria’s capacity to transition vehicles from petrol to gas. 

    “That will increase our conversion capacity from about 65,000 a year currently, to about 250,000 to 300,000 a year at the end of this year. So it will also be a significant boost for conversions,” he noted.

    Speaking further, Oluwagbemi revealed that PCNGI has attracted more than $491 million in private sector investments within the past year.

    Oluwagbemi described the milestone as the most important achievement of the initiative to date, noting that it followed extensive stakeholder engagement and public awareness campaigns from May to November 2024. 

    Read Also: PCNGI, Arete sign agreement for $27.3m mini-LNG project in Kogi 

    “We have attracted over $491 million of investments in the past year to AutoNG and we are very proud of it. This has created over 9,000 direct and 75,000 indirect jobs”, he said.

    According to him, the initiative is not only helping to reduce the cost of living but is also boosting job creation, driving industrial investments, and promoting environmental sustainability.

    He stated that Nigeria’s vehicle conversion capacity had increased dramatically—by almost 3,000 percent—thanks to private sector investments that established more than 200 new conversion centers, up from just seven at the start of the program. 

    “This has directly employed over 3,000 new technicians as a result of the Conversion Incentive Program,” he added.

    The Conversion Incentive Program (CIP), which was introduced in response to cost-of-living protests in August 2024, is targeted at converting one million vehicles—primarily public and government-owned—either for free or at subsidized rates. 

    So far, about 22,000 conversion kits have been delivered, with 10,000 conversions expected to be completed by the end of the current quarter.

    “We’ve also expanded the program to allow deep discounts for public servants and will soon launch a financing initiative in collaboration with Credit Corp and public sector unions,” he revealed.

    Oluwagbemi also highlighted the procurement of 655 CNG and EV buses through the Federal Ministry of Finance. 

    Of these, 421 CNG buses and 36 EV buses have been delivered, with 405 already deployed under various government and commercial transport schemes. 

    “The Renewed Hope Mass Transit scheme launched during the Yuletide has continued commercially and will soon be expanded to tricycles,” he noted.

    Responding to recent concerns over fuel availability, Oluwagbemi said the PCNGI had launched a Last Mile Gas Infrastructure scheme to support refueling needs and ease pressure caused by increased CNG adoption. 

    “We are providing equipment at cost to key conversion centers and refueling partners, with 25 sites targeted and 15 states slated for coverage. The first site in Kwara is already live,” he said, adding that the initiative is expected to reach 17 states by June and expand to 24–30 states by the end of the year.

    To complement government efforts, private partners including NNPC, NIPCO, Bovas, AY Shafa, and others have begun constructing over 150 new refueling stations across the country.

    He further announced plans to launch a Diesel Conversion Program later this year, noting its potential to reduce food and goods transportation costs by up to 80 percent.

    In line with capacity development goals, PCNGI is also collaborating with the Federal Ministry of Education and the Midstream and Downstream Gas Infrastructure Fund to introduce discounted CNG services and transportation in 20 federal universities, while turning the campuses into hubs for technician training and gas infrastructure development.

    To ensure safety, the initiative is working with regulatory bodies to launch the Nigeria Gas Vehicle Monitoring System (NGVMS), which will track and certify CNG and gas-powered vehicles. 

    “Only properly converted or inspected vehicles will be allowed to refuel and operate, enforced by NMDPRA and FRSC,” he assured, noting that the sole safety incident recorded so far was due to illegal fabrication and has been addressed.