The Presidential Compressed Natural Gas Initiative’s CEO and project director, Michael Oluwagbemi, has disclosed that the federal government intends to use the gas initiative to generate 750,000 employment by 2027.
At the recent inaugural stakeholders and investors’ forum for PCNGi, which took place in Abuja, he disclosed this.
He added that the federal government intended to create an economy based mostly on gas.
During the seminar, Oluwagbemi stated that the government aimed to create 750,000 jobs and 40,000 auto gas conversion workshops by 2027. The forum’s topic was “Nigeria’s CNG Revolution: Harnessing Opportunities for a Sustainable Future.”
“An ambitious plan to put one million gas-powered vehicles on the road by 2027, at an average annual rate of 250,000 vehicle conversions per year,” was how he phrased the government’s CNG project.
The Project Director stated that the initiative’s strategic vision is to lower Nigerians’ cost of living by drastically lowering the cost of transportation and, in the end, raise living standards by using a cleaner and safer fuel, given the advantages of CNG as a less expensive fuel.
Our strategic goals are crystal obvious in all of these: how can we lower the cost of transportation for the average person? How can we make Nigerian gas function for the person using it? How do we make sure that Nigeria benefits economically from this gas?
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Oluwagbemi said, “We’re taking an end-to-end approach, not just focusing on conversion centers but also incentivizing investment on the supply side.”
In order to guarantee adequateness on the upstream side, he specifically cited partnerships with the Gas Aggregation Company of Nigeria and its affiliates.
He continued by saying that in order to incorporate six million commercial cars into the CNG ecosystem, PCNGi was actively interacting with the network of organized commercial transport providers.
Mr. Toyin Subair, a fellow PCNGi member, emphasized the financial benefits of Nigeria utilizing CNG as a substitute fuel.
He reiterated that the change was for the economic and general welfare of all Nigerians.
“This initiative’s benefit is that it eliminates the need for subsidies or the purchase of foreign fuel. The six million commercial cars that will be converted belong to us (Nigeria), and we have our gas here. Subair claimed, “If we seize this business opportunity, we’ll lower the average Nigerian’s cost of transportation.”
