The Presidential Compressed Natural Gas Initiative (PCNGI) announced on Monday that it had invested more than $450 million in the compressed natural gas value chain.
Michael Oluwagbemi, disclosed this during the ninth edition of the Nigeria Energy Forum in Lagos.
According to the PCNGi CEO, the amount goes into things like mother stations, daughter stations, refuelling stations, and conversion centres, which are starting to spring up across the nation.
Mr Oluwagbemi said the initiative had successfully converted more than 10,000 vehicles from petrol to CNG.
READ MORE:PHOTOS: How Dele Farotimi Was brought to Court in Handcuffs
“By 2027, the initiative will have converted more than one million vehicles using petrol to them,” he said.
In the case of incidents of vehicle explosions using CNG, the CEO assured Nigerians that it had taken precautionary measures with different government agencies to ensure safety.
Ibironke Olubamise, national coordinator of the GEF Small Grants Programme (SGP), managed by UNDP, said the SGP was investing in youth energy innovation for economic growth and environmental sustainability.
Daniel Adeuyi, NEF group chairman, said the council had started campaigns to sensitise Nigerians on the advantages of using CNG to power their vehicles.
Follow Parallel Facts on WhatsApp Channel:https://whatsapp.com/channel/0029VaCQSAoHgZWiDjR3Kn2E
