President Bola Tinubu has approved the establishment of the Presidential Compressed Natural Gas Initiative (PCNGI), a move aimed at easing the impact of fuel subsidy removal on Nigerians by reducing energy costs.
Special Adviser to the President on media and publicity, Ajuri Ngelale, who disclosed this in a statement on Friday, stated that the initiative is poised to revolutionize the transportation landscape in the country, targeting over 11,500 new CNG-enabled vehicles and 55,000 CNG conversion kits for existing PMS-dependent vehicles.
The statement further explained that the PCNGI would facilitate workshops across all geopolitical zones and states with essential kits and comprehensive training for newly employed staff, thus creating new opportunities for technical skill development and employment for Nigerians.
Similarly, the new nationwide network of workshops to be established through the initiative would ensure widespread access and demand side utilization of CNG technology and CNG-related expertise, thereby facilitating smoother transitions for vehicle owners for the broader benefit of the Nigerian economy.
Also, the PCNGI will ensure the deployment of CNG buses through existing Private Mass Transit operators, including new financing programmes for operators through an innovative asset finance programme.
It will also encourage investors to invest in CNG processing, distribution and utilization by providing incentives for enhanced investment and partnership and delivering training and technology transfer to support the After-Sales Services and maintenance sub-industry to create sustainable jobs.
