President Bola Ahmed Tinubu has approved the establishment of the Presidential Compressed Natural Gas Initiative (PCNGI) in furtherance of his commitment to easing the impact of fuel subsidy removal on Nigerians by reducing energy costs.
Special Adviser to the President on Media and Publicity, Ajuri Ngelale, announced this in a statement released yesterday.
He said the transformative initiative was poised to revolutionise 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, while simultaneously bolstering in-country manufacturing, local assembly and expansive job creation in line with the presidential directive.
Ngelale added that the landmark initiative, which comprised of a comprehensive adoption strategy, would include "empowering workshops programme/nationwide network of workshops, local assembly and job creation as key points of emphasis with an initial focus on mass transit systems and student hubs in order to significantly reduce transit costs for the general populace in the immediate term."
He further said the PCNGI would also facilitate the provision of 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.
This, he added, was to ensure a seamless integration of CNG utility within the current midstream and downstream energy value chain to support its sustainability.
Ajuri also said the new nationwide network of workshops, to be established through the initiative, would ensure widespread access and demand side utilisation of CNG technology and CNG-related expertise, thereby facilitating smoother transitions for vehicle owners at the wider benefit of the Nigerian economy.
The launch of this initiative, he said, also underscored the administration's commitment to fostering a cleaner environment by reducing carbon emissions and promoting energy security through the utilization of domestic natural gas resources.
"Under the aegis of the PCNGI, the following strategic objectives will be achieved: the development of new stakeholder-operated Intrastate Mass Transit systems built on CNG.
"Support for states to onboard new CNG buses as part of their Intrastate Mass Transit network (wholesale conversion, retro-fitting and new purchase).
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"The deployment of CNG buses through existing private mass transit operators, including new financing programmes for operators through an innovative asset finance programme.
In a related development, President Tinubu has promised his administration's commitment to leveraging on the domestic utilisation, processing and international export of Nigeria's massive gas resources as a transition fuel to catalyse the fundamental restructuring of the nation's economy for expansive growth during his tenure.
He made the pledge yesterday at the State House, Abuja, during a meeting with the board and management of the Nigeria Liquefied Natural Gas (NLNG) Limited.
The president said all encumbrances to the entrepreneurial progress and development of Nigeria's industrious citizens, as well as any further impediments to business practice in the oil and gas sector, specifically, would be removed to create more opportunities for Nigerian companies and international partners to thrive on the natural and human resource wealth which God had bestowed upon the nation.
President Tinubu, in a statement by his spokesman, Ajuri Ngelale, affirmed the position of natural gas as Nigeria's gateway to sustainable development and prosperity.
