The Presidential Compressed Natural Gas Initiative (PCNGi) has earmarked N100 billion for the deployment of Compressed Natural Gas (CNG) buses across Nigeria. This monumental funding forms part of a palliative program, designed to stimulate a shift towards auto-gas and electric vehicles (EVs) in the sprawling mass transit and transportation sectors of the country.
The initiative's ambitious plan involves the introduction of over 11,500 CNG and electrically powered vehicles. In addition, the distribution of 55,000 conversion kits is set to be implemented. These efforts are projected to significantly cut transportation costs, thereby mitigating the ever-increasing cost of living for Nigerians.
Alignment with the President's Renewed Hope Agenda
The PCNGi aligns seamlessly with the President's Renewed Hope Agenda, an initiative aimed at fostering sustainable development in Nigeria. The initiative is being steered by a committee led by the Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji.
The PCNGi has made significant strides, including forming strategic technical partnerships and launching CNG Conversion centers in key states such as Lagos, Abuja, Kaduna, Ogun, and Rivers. More centers are slated to open across the country in the coming weeks, marking a significant step towards a cleaner and more sustainable future.