FG targets $3bn from CNG vehicle investments

The Presidential CNG Initiative (Pi-CNG) says it is currently targeting about N3.5 trillion ($3 billion) from investments in Compressed Natural Gas (CNG) vehicles.

The Coordinator for regulatory compliance at the Pi-CNG, Engr. Zayannu Tambari Yabo made the disclosure on Wednesday in Abuja at a one-day stakeholders’ engagement meeting for the accreditation of auto gas conversion centers nationwide which was organized by the National Automotive Design and Development Council (NADDC)

He said, “The Presidential initiative is part of efforts to run a cleaner and safer environment in terms of vehicles. The Federal government is looking attracting investments of $3 billion in the next four to five years

“Today we have about 12 million vehicles running on fuel and our plan in the coming years is to have about 1 million vehicles running on CNG because Nigeria’s transport system has now been expanded.”

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Director General of NADDC, Mr. Joseph Osanipin noted that the NADDC will ensure strict supervision and compliance in every CNG conversion center to ensure that operators don’t compromise standards.

Also speaking Dauda Suleiman from the Nigerian Institute of Transport Technology (NITT) noted that the institute has trained more than 25 engineers on CNG conversion with an operational conversion center in Abuja and Borno state coming shortly