– Nigeria’s CNG Initiative Attracts Significant Private Investment
– Compressed Natural Gas Program Generates Thousands of Jobs
– Expansion of CNG Conversion Centers Across Nigeria
The Tinubu Media Volunteers (TMV) have commended the Federal Government’s Compressed Natural Gas (CNG) initiative for attracting approximately N760 billion (about $491 million) in private investments over the past year. This investment surge follows the removal of fuel subsidies and aims to provide a more affordable transportation alternative for Nigerians. The initiative has also led to the creation of 84,000 direct and indirect jobs, as reported by Michael Oluwagbemi, Program Director of the Presidential CNG Initiative (PCNGI).
Furthermore, the number of CNG conversion centers has expanded from seven to over 200 nationwide, with plans to increase to 10,000 by the end of 2025. The government has also introduced 405 buses to support transportation needs, in collaboration with labor unions. TMV emphasizes that the CNG initiative not only offers economic benefits but also has the potential to enhance mobility and reduce unemployment across Nigeria.
