Abuja: The Presidential Initiative on Compressed Natural Gas (PiCNG) and Electric Vehicles (EVs) has secured more than two billion dollars in investments within the compressed natural gas (CNG) subsector. This was announced by the PiCNG’s Executive Chairman/CEO, Mr. Ismaeel Ahmed, during the unveiling of CNG products by Alfa Design Nigeria Limited, held in Abuja in collaboration with the News Agency of Nigeria (NAN).
According to News Agency of Nigeria, the unveiling event featured an array of dignitaries, including Malam Ali M. Ali, Managing Director of NAN, Mr. Mubarak Abdul, Chief Operating Officer of Alfa Designs, Pankaj Bohhra from Mijo Auto Gas, and other officials from PiCNG. Among the products unveiled were CNG conversion kits by Mijo AutoGas, a CNG cylinder by EKC International, a CNG Mother Station by CIMC ENRIC, and an Optical Gas Imaging Camera by Opgal Optronics.
Mr. Ahmed, represented by Mr. Zayyanu Tambari, Chief Compliance Officer of PiCNG, highlighted that the initiative has attracted nearly two billion dollars of private sector investment in the CNG subsector over just two years, with aspirations to reach five billion dollars by 2027. He emphasized that the CNG sector was almost non-existent in 2023 but has since garnered significant investment interest.
The initiative has not only attracted financial investments but also created over 80,000 direct jobs, with expectations to reach 300,000 direct jobs by 2027. President Bola Tinubu’s unveiling of the CNG programme in 2023 marked a transformative step for Nigeria’s energy sector, which now boasts 369 conversion centres, up from just seven in 2023. The goal for 2027 is to expand to 3,000 conversion centres, bolstered by rapid growth and investment.
The number of CNG refueling infrastructure has also seen substantial growth, increasing from 20 in 2023 to over 68 licensed stations and more than 150 under construction. By 2027, PiCNG aims to establish between 2,000 and 2,500 retail outlets, contributing further to the sector’s anticipated exponential growth.