Industry experts have demonstrated positive reaction to the Nigerian government’s efforts to promote the use of Compressed Natural Gas (CNG) as a vehicle fuel. This initiative, which seeks to decrease Emissions and lessen reliance on conventional fuels, has been praised for its promising environmental and economic advantages. Experts believe that compressed natural gas provides a cost-effective alternative to traditional petrol, with a price range expected to be significantly lower by 40 percent to 60 percent compared to PMS or AGO. This offers consumers a more affordable fuel option.
They emphasized the importance of this stable pricing mechanism as it will protects consumers from the fluctuations in global oil markets while also promoting Economic Stability and resilience. Adelanke Dayo-Adepoju, a specialist in Renewable Energy and gas highlighted that the collaboration between government, industry stakeholders, and the public is crucial in achieving energy Security and economic prosperity through the utilization of compressed natural gas. According to experts, the government is fostering a conducive environment for industry players to succeed by implementing various proactive strategies such as providing financial incentives, Tax breaks, and subsidies.
Carbon footprint will be reduced in Nigeria.
The government plans to have one million CNG vehicles on Nigerian roads by 2027. This will require setting up 1,000 conversion and refuelling stations nationwide, creating more than 50,000 job opportunities. These initiatives demonstrate the government’s dedication to enhancing Infrastructure and promoting the widespread use of CNG technology. Former commissioner for energy to the Lagos State government, Olalere Odusote, stated that natural gas serves as a transitional fuel and as well as a crucial catalyst for economic progress and advancement.
Embracing compressed natural gas was described as a way to boost energy security, generate employment opportunities, and propel Nigeria towards a prosperous future for all its people. Other stakeholders pointed out that as Nigeria works to reduce its carbon footprint and tackle environmental issues, adopting CNG offers a practical solution. They explained that the combustion of compressed natural gas releases far fewer Greenhouse gases than petrol, leading to a cleaner and more Sustainable Energy environment. Nigeria’s abundant gas reserves have the potential to boost national sovereignty and Economic Growth through the strategic use of domestic resources.
Pi-CNG has attracted $50 million in new investments.
Such approach allows for the exploitation of local assets and lessens the reliance on foreign exchange, leading to a more sustainable economic development. Unlike conventional fuels, CNG’s low flammability significantly decreases the chance of accidental fires and reduces related dangers. Also, its cylinders are designed with strict safety protocols, guaranteeing their strength and toughness even in demanding circumstances. It is acknowledged that the influence of compressed natural gas goes beyond just economic and environmental aspects, reaching all sectors of society.
By converting vehicles to CNG-powered, individuals can easily switch to this innovative energy source without the hassle of major infrastructure changes. This strategy allows people of all economic backgrounds to enjoy it advantages, as stated by experts. Among the notable implemented government’s efforts is the Presidential CNG Initiative (Pi-CNG), a key aspect of President Bola Ahmed Tinubu’s administration’s strategy to alleviate the burden on the public resulting from the removal of fuel subsidies. Additionally, this initiative aims to reduce the country’s carbon footprint. Over the past five months, the Presidential Compressed Natural Gas Initiative has successfully brought in $50 million in new investments for the economy.
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This groundbreaking project is set to transform the transportation sector in the nation by promoting cleaner energy. The initiative aims to introduce more than 11,500 new vehicles that run on CNG and provide 55,000 conversion kits for existing vehicles dependent on PMS. Additionally, it will support local manufacturing, assembly, and create a significant number of jobs as instructed by the president. President Bola Tinubu stressed the significance of promoting the use of compressed natural gas nationwide and urged government officials to lead by example. Consequently, he has directed all government entities to purchase vehicles powered by compressed natural gas moving forward.