CNG Attracts N1.5trn Investment in 18 Months – Report

The Presidential Compressed Natural Gas Initiative (PCNGI) has stated that since the introduction of CNG in the country, it has attracted $980m (N1.504trn) investment in 18 months.

Speaking during the launch of the Portland Gas Ltd / NASENI CNG Daughter station Auto Conversion And Training Centre in Abuja, the Chief Executive Officer of PCNGi, Engr. Michael Oluwagbemi said the sector has seen significant interest from BUA, Nigerian Bottling Company (NBC) and others spending over N720billion to acquire not only CNG trucks but also 100 water stations.

He said this makes it the fastest growing sector in the country today, noting it continues to grow in leaps and bounds.

He said the CNG powered vehicles have risen from mere 4,000 to about 100,000 vehicles in about 18 months.

According to him, because of the incentive for transition to CNG use, using CNG allows about a 90 per cent discount.

He however sought the protection of CNG allocated for automobile use from being diverted to fuel power plants.

The Chief Executive Officer of Portland Gas Ltd, Folajimi Mohammed, described the station as a gas hub with a combination of everything about gas.

He said, “This is what we call the Portland Gas/NASENI gas hub. We call it a hub because one: we have an auto-conversion centre. We have a training centre. We have a refill station as well here. So we have a combination of everything gas.”

He disclosed that the company has secured an approval for the same station to sell Liquefied Petroleum Gas.

He added, “So we have a four tonne approval which you can see right behind us for cooking gas too. So, it is a full hub for gas.”

Executive Vice-Chairman/CEO of the Nigerian Agency for Gas Engineering Infrastructure (NASENI), Mr. Khalil Halilu said the station was strategically located on the Kubwa expressway which is central to North and southern parts of the country.

He said, “We are launching a station on the highway of Kubwa which you know connects Abuja to the whole of the north and even the Southern part of the country is a strategic move to show that the government is ready to position CNG stations in partnership with private sector like Portland Gas in strategic areas to ease transportation for Nigeria.”