The Federal Government officially launched the Conversion Incentive Programme, P-CNGi, in Ibadan, the capital of Oyo State, on Thursday. The initiative aims to promote the adoption of compressed natural gas (CNG) as an alternative to traditional petroleum fuels.
President Bola Tinubu, represented by Michael Oluwagbemi, Chief Executive Officer and Programme Director of the Presidential Compressed Natural Gas Initiative (P-CNGi), underscored Nigeria’s vast gas reserves, which he claimed could last over 100 years.
Tinubu urged commercial transport operators to embrace the conversion programme, highlighting that using CNG could cut transportation costs by more than 40 percent.
In his remarks, President Tinubu criticized the nation’s reliance on imported and subsidized petroleum products, emphasizing the need for Nigeria to reduce its dependency on foreign nations for energy resources.
The launch event also featured contributions from Oyo State government representatives and stakeholders in the conversion industry.
Dr. Dikko Salami, Chairman of Oyo State Pacesetter Transport, along with conversion experts Adedayo Adebanji and Engineer Tunde Onakoya, stressed the importance of widespread public awareness and robust policy enforcement to maximize the benefits of the CNG initiative.
The P-CNGi programme is expected to drive a significant shift in Nigeria’s transport sector, promoting economic growth and energy sustainability by leveraging the country’s abundant natural gas resources.