Abuja: The Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi-CNG and EV) has expressed its support for President Bola Tinubu and state governors’ initiatives to lower transportation costs by utilizing the affordability of Compressed Natural Gas (CNG).
According to News Agency of Nigeria, Mr. Ismaeel Ahmed, the Executive Chairman and Chief Executive Officer of Pi-CNG and EV, revealed this development, emphasizing that channeling the reduced cost of CNG into decreased transportation fares would ensure that governmental investments in the gas ecosystem positively impact Nigerian citizens.
President Bola Tinubu, after discussions with the Nigeria Governors’ Forum (NGF), stated that governors have committed to implementing measures to decrease transportation costs within their states. These initiatives are focused on harnessing the cost benefits of CNG and electric vehicles. The Federal Government has made substantial investments in this transition, converting over 120,000 vehicles to CNG across the country. Additionally, there are plans for more than 100,000 conversion kits, with conversion centers and CNG refueling infrastructure expanding nationwide.
The President highlighted that over 100 gas projects are being funded through the Midstream and Downstream Gas Infrastructure Fund (MDGIF), which includes 15 CNG mother stations and 86 daughter stations. Furthermore, an additional rollout of 500 CNG refueling stations has been directed, aiming to establish a nationwide network of 1,000 stations.
Ahmed praised the governors’ stance as a crucial advancement in ensuring that investments in the CNG ecosystem provide tangible advantages to the populace. He advocated for enhanced collaboration among the Federal Government, state governments, the private sector, transport unions, operators, and financial institutions to fully harness the benefits of this initiative.
He further stated that state government backing for CNG conversions, vehicle fleets, and supportive infrastructure is vital to ensuring that the savings from CNG are reflected in public transportation fares. Ahmed emphasized that the policy’s benefits should extend beyond vehicle owners to include ordinary Nigerians who rely on public transport.
“At Pi-CNG and EV, we look forward to working with the states and all stakeholders to realize this initiative throughout the nation,” he said.
The reinforced collaboration between the Federal Government and state governments aims to build on the ongoing investments in CNG conversion and refueling infrastructure, designed to reduce the cost of transporting people and goods across Nigeria.