The Presidential Compressed Natural Gas Initiative (PCNGi) said the government has invested more than $200 million in the compressed natural gas (CNG) value chain.
PCNGi Project Director and CEO, Michael Oluwagbemi, also said that the initiative has successfully converted over 100,000 vehicles from gasoline to CNG.

In his statement, Oluwagbemi also noted that 140 transformation centers have been established across the country.
Oluwagbemi highlighted the successes of the program, stating that thousands of new jobs and economic opportunities have been opened in the ecosystem.

“To date, more than 100,000 vehicles have been converted from petrol vehicles to CNG/dual fuel vehicles and more conversion centers are being established across the country. “In addition, investors are accelerating the development and deployment of CNG infrastructure, having already invested over $200 million in the value chain,” he said.

PCNGi responded to what it called “toxic debate” in the media against the initiative, highlighting the importance of CNG in Nigeria’s energy security and the financial savings it could bring.

Oluwagbemi explained that switching from gasoline to CNG could save the country about $3 billion annually and generate an additional $2 billion in revenue over the next three to four years.

“It is surprising that the choice of oil, on which Nigeria spends about $10 billion a year in subsidies, and CNG, which has the potential to save the country $3 billion and add $2 billion to the national budget, is such a toxic topic of debate. ” he said.

He emphasized that the initiative is also growing, with the number of transformation centers increasing from just seven to over 140 nationwide by 2023.
More than 2,000 Nigerians are currently employed in these centres. More job opportunities are expected with further expansion.