Private sector investment in Compressed Natural Gas (CNG) in Nigeria has inched over N1 trillion in the last 18 months signaling a shift to transition to clean energy.
Overall, the Compressed Natural Gas (CNG) initiative of the Federal Government has attracted about $980 million in investments in the past 18 months, according to the Chief Executive Officer of the Presidential Compressed Natural Gas Initiative (PCNGI), Michael Oluwagbemi.
On private sector investment , Dangote Petroleum Refinery & Petrochemicals has ordered 4,000 compressed natural gas powered trucks, which is an integral part of its fuel distribution logistics programme set to start on August 15.
The initiative aims to transform the fuel distribution landscape within Nigeria by reducing logistics costs and enhancing supply efficiency for customers.
The fleet of fuel tankers, being imported through Apapa Port, represents a significant capital investment estimated at N720 billion.
This expenditure underscores the company’s commitment to pioneering innovative solutions as the world’s largest single-train refinery continues to expand its operational capabilities.
The first consignment of trucks recently departed Apapa Port and was formally received at the refinery site in Ibeju-Lekki by Vice-President of Oil and Gas at Dangote Industries Ltd, Devakumar Edwin.
The arrival was met with enthusiasm from refinery personnel and customers alike, many of whom were present to witness the tangible progress towards improved fuel accessibility.
In addition Oluwagbemi, disclosed that companies like BUA and Nigerian Bottling Company have spent more than ₦720 billion on CNG trucks and over 100 water stations.
Oluwagbemi, who disclosed this at the inauguration of the Portland Gas Ltd/NASENI CNG Daughter Station, Auto Conversion, and Training Centre in Abuja.
He stated that the number of CNG-powered vehicles in the country had risen from 4,000 to nearly 100,000, adding that users were enjoying up to 90 per cent savings compared to petrol.
According to the Executive Vice Chairman of NASENI, Mr Khalil Halilu, an average Nigerian driver spends over 40 per cent of their daily earnings on fuel, describing it as one of the highest fuel-cost burdens anywhere in the world.
Halilu noted that Nigeria’s energy transition could set a model for Africa where collaboration, innovation, and shared purpose drive the next chapter of industrial growth.
He observed that the facility, with its CNG conversion centre, training centre, and CNG gas refill station, is part of an ongoing commitment to the Renewed Hope Agenda of the President, adding that the vision for a diversified, sustainable, and industrially vibrant economy is clear.
The Chief Executive Officer of Portland Gas, Mr Folajimi Mohammed, observed that the PCNGI had subsidised conversion costs, making them free for members of NARTO, NURTW, Uber, and Bolt.
At Doowe, this isn’t just a tip; it’s our operational promise. We guarantee every cylinder we retail is certified, in-date, and absolutely safe.
Want to master these industry standards? Our exclusive paid mentorship group offers your direct path to understanding the gas business, carbon credits, and one-on-one professional mentoring.
This commitment to safety and quality defines all our services, including our large-scale LPG plant construction projects.
Follow us on all major platforms!
Our YouTube channel is dedicated to providing in-depth analysis for professionals, investors, and policymakers. Get informed, get empowered.
Join the conversation.
Subscribe today!. ➡️ https://lnkd.in/e_vit42X
Source:
Orientalnewsng.com
