May 20, 2024

CNG: Nigerian govt eyes 25,000 jobs, $2.5bn investment in four years


The federal government targets over 25,000 jobs and $2.5 billion worth of investment in four years through the Presidential Compressed Natural Gas Initiative.

The Programme Director and Chief Executive of the PCNGI, Michael Oluwagbemi, disclosed this in a stakeholders’ workshop in Ibadan Oyo state on Friday.

He stressed that President Bola Ahmed Tinubu had given PCNGI the mandate to convert one million vehicles by 2027.

“The President has said we need to convert one million vehicles by 2027. We need 1,000 conversion shops and over 3,000 filing stations just like this. You can imagine the level of investment required for this.

“To sustain one million vehicle conversions by 2027, we need 25,000 technicians. So, the job creation potential is an opportunity for job creation in addition to our gross domestic product, $2.5 billion worth of investment to be mobilised in the next four years and, of course, more than $25 billion added to our GDP.”

Recall that President Tinubu approved the Presidential Compressed Natural Gas initiative to achieve 11,500 new CNG-enabled vehicles and 55,000 CNG conversion kits for existing vehicles that depend on Premium Motor Spirit.





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