The agency disclosed this in a series of tweets via its verified official X handle on Tuesday.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Tuesday said it has signed an agreement with Femadec Energy on the provision of Compressed Natural Gas (CNG).
The agency disclosed this in a series of tweets via its verified official X handle on Tuesday.
"The Midstream & Downstream Gas Infrastructure Fund (MDGIF) of the Authority signed a Memorandum of Understanding (MoU) with Femadec Energy on the provision of Compressed Natural Gas (CNG).
"The Presidential Initiative on Compressed Natural Gas (PICNG) which is the driver for the Federal Government's "Decade of Gas" initiative was also present at the event.
"The NMDPRA grants approval to construct (ATC) 500MT LPG Depot in the Federal Capital Territory to Novertek Energy Limited," the agency said.
In August, President Bola Tinubu approved the establishment of the Presidential Compressed Natural Gas Initiative (PCNGI).
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, in a statement said the establishment of the initiative was in furtherance of his commitment to easing the impact of fuel subsidy removal on Nigerians by reducing energy costs.
This transformative initiative, according to Mr Ngelale, is poised to revolutionise the transportation landscape in the country, targeting over 11,500 new Compressed Natural Gas (CNG)-enabled vehicles and 55,000 CNG conversion kits for existing Premium Motor Spirit (PMS)-dependent vehicles.
"While simultaneously bolstering in-country manufacturing, local assembly and expansive job creation in line with the presidential directive," the spokesperson noted.
"The landmark initiative, which comprises of a Comprehensive Adoption Strategy, will include the following: Empowering Workshops Programme w/ 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."
