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OGFZA attracts FDI worth over $1bn in last 17 months
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FG sensitises stakeholders on CNG adoption to sustain transportation
From Tony John, Port Harcourt
The Presidential Compressed Natural Gas Initiative (PCNGI) has disclosed that it has generated about $459 million under the President Bola Tinubu-led administration in the last year.
The Programme Director of PCNGI, Michael Oluwagbemi, made the disclosure during a stakeholders’ sensitisation programme on Compressed Natural Gas (CNG) infrastructure development organised by Portland Gas Limited. The event was held at the Oil and Gas Free Zones Authority (OGFZA) in Onne, Rivers State, on Tuesday.
Oluwagbemi stated that prior to the initiative, there were only seven conversion centres for CNG. However, with the establishment of PCNGI, the number of centres has increased to 153.
According to him, President Tinubu understands Nigerians’ reliance on fuel usage and highlighted that utilising natural gas would insulate the industry from high costs.
Meanwhile, the OGFZA revealed that in the last 17 months under the Tinubu-led administration, its Liberty Oil and Gas Free Zone has attracted Foreign Direct Investment (FDI) worth over $1 billion.
The Managing Director/Chief Executive Officer of OGFZA, Bamanga Jada, made this known at the event, describing the free zone as the premier energy free zone in Sub-Saharan Africa.
Jada lauded President Tinubu for introducing bold and crucial reforms across various sectors of Nigeria’s economy. He described the PCNGI as “an innovative and far-sighted programme introduced by Mr. President as a component of his palliative intervention to provide cheaper and cleaner fueling alternatives that will significantly lower energy costs in the country.”
In a related development, the Federal Government, through the Ministry of Industry, Trade, and Investment, reiterated its commitment to fostering partnerships with stakeholders across the public and private sectors.
The Minister of Industry, Trade, and Investment, Jumoke Oduwole, stressed the importance of government engagement with critical stakeholders to ensure robust and strategic sensitisation on CNG adoption as a means of reducing the cost of living.
She stated: “As witnessed today, the strategic collaboration between the Oil and Gas Free Zones Authority and Portland Gas Limited on the CNG adoption and development project is an initiative to promote the use of CNG as an alternative cleaner and cheaper energy source tailored towards contributing to the current administration’s transformative agenda.
“In achieving this transformative initiative, we must prioritise engaging stakeholders in robust and strategic sensitisation and capacity building on CNG adoption. This is an important step in educating transport operators, industrial players, and end-users about the economic and environmental benefits of adopting CNG. Thus, public awareness, policy alignment, and coordinated implementation will ensure that the transition is seamless and inclusive.”
Speaking through Mrs Theresa Ogolo, a director from the ministry, the minister noted that the event marked a significant milestone in the nation’s collective effort to drive sustainable transportation and transition to cleaner and more efficient energy systems.
She said: “Climate change, volatile fossil fuel markets, and the demand for a cleaner environment have compelled governments, industries, and citizens alike to rethink energy consumption. President Bola Ahmed Tinubu’s Compressed Natural Gas Initiative (PCNGI) is geared towards promoting and accelerating the use of CNG as a clean alternative source of energy.
“Today’s event underscores Nigeria’s commitment to addressing these challenges while leveraging one of our greatest natural assets—natural gas.
“The adoption of CNG as a viable alternative fuel aligns with the Federal Government’s broader energy transition strategy. This strategy seeks to diversify our energy mix, reduce carbon emissions, and harness the economic potential of Nigeria’s abundant natural gas reserves. CNG offers a cleaner, cheaper, and more sustainable solution for powering vehicles, particularly in the transportation and logistics sectors that underpin our industrial activities.
“Our presence here today at Onne Oil and Gas Free Zone is deliberate and strategic. As a hub for innovation, investment, and industrial activity, Onne is ideally positioned to serve as a launching pad for this initiative.
“By developing CNG infrastructure within this zone, we are setting the stage for widespread adoption across Nigeria and supporting a future where industries and transportation systems thrive sustainably.”
In his speech, the Managing Director of Portland Gas Limited, Folajimi Mohammed, described the event as a positive step for the oil and gas free zone.
He said: “Basically, what we are trying to do is to accelerate CNG adoption by converting trucks and cars within the zone.
“The Onne zone, as we know, is a very important public zone where a lot of industries are located. So, for us, we believe this is a hub that will accelerate CNG conversion.
“The drive for conversion to CNG has been very aggressive under the present administration. The drive has been spreading very fast. As of today, we are not having issues with conversion but with refilling, which we believe the adoption has outpaced. Very soon, private stakeholders will tackle the issue of refilling, and this is going on very well.”