Pi-CNG attracts $491m investment, generates 84,000 jobs — FG
By Kunle Sanni
The Presidential Compressed Natural Gas Initiative (Pi-CNG) has attracted over $491 million in investments and generated more than 84,000 jobs since its launch, according to the Programme Director and CEO, Michael Oluwagbemi.
The federal government officially launched the Pi-CNG scheme on October 27 with the goal of building a sustainable future by leveraging the country’s affordable and clean natural gas resources.
Speaking at the Presidential Villa in Abuja on Monday, Oluwagbemi highlighted the initiative’s achievements, noting that the AutoCNG programme alone has created over 9,000 direct jobs and 75,000 indirect jobs.
He said, “After an intensive stakeholder engagement and public awareness campaign from May to November 2024, the most important achievement of the PCNGI was convincing the private sector to invest critical funds alongside government investments, following increased demand from commercial and private vehicle users.
“We have attracted over $491 million in investments over the past year in AutoCNG, and we are very proud of this milestone. It has resulted in over 9,000 direct jobs and more than 75,000 indirect jobs.”
Oluwagbemi also revealed that Nigeria has significantly expanded its capacity to convert petrol and diesel vehicles to bi-fuel systems—achieving nearly 3,000% growth since the program’s inception.
He noted that the number of conversion centers has increased from just seven to over 200, thanks to private sector participation, with more than 3,000 new technician jobs created under the Conversion Incentive Programme.
“To this end, Nigeria’s capacity to convert vehicles from petrol and diesel to bi-fuel systems has grown by nearly 3,000 percent. Over 200 new conversion centers have been established—up from just seven—creating over 3,000 technician jobs,” he added.
