President Bola Tinubu had, in May 2023, promised Nigerians CNG initiatives that would ease the economic pains associated with the removal of subsidy on Premium Motor Spirit (PMS).
By Deborah Hassan
365Daily – The Minister of Steel Development, Prince Shuaibu Audu, has assured that the Ministry would convert a minimum of one million cars to Compressed Natural Gas (CNG) vehicles by 2027.
President Bola Tinubu had, in May 2023, promised Nigerians CNG initiatives that would ease the economic pains associated with the removal of subsidy on Premium Motor Spirit (PMS).
Speaking in Abuja on Thursday, July 25, 2024 during a visit by the Programme Director/Chief Executive Officer, CEO, Presidential Compressed Natural Gas Initiative, P-CNGI, Engr Michael Oluwagbemi, the Minister added that the Ministry, in collaboration with the P-CNGI, will set up a CNG park within the proposed Industrial park in Ajaokuta.
He disclosed that the CNG initiatives of President will reduce transportation costs by at least 40 per cent, adding that “Mr President has given a mandate that he wants a minimum of one million CNG vehicles on the road by 2027.”
Audu continued, “There is a lot of work that needs to be done, and everything that we need to partner with the Federal Government under the CNG initiative is available in Ajaokuta.
“One of the things we are also doing is the industrial park in Ajaokuta, where various categories of companies will be under the industrial park within Ajaokuta.
“So, the CNG park will be one of the many components of the soon-to-be Ajaokuta Industrial Park.
“Everything to actualize the CNG initiative and conversions is available in Ajaokuta, and so plugging in the CNG initiative is very viable; there is gas there, an engineering workshop is there, and a tools workshop to facilitate the construction or assembly of the kits is also there.
“Mr President is indeed very excited about this initiative and the partnership between the Ministry and the P-CNGI, which drives the plans of industrialising Nigeria, diversifying and growing the economy, and creating jobs under the renewed initiatives.”
Meanwhile, the Minister noted and acknowledged the effort and passion demonstrated by Engr. Olugbemi for the excellent job he is doing in actualizing the CNG initiative of Mr President.