Business News

Presidential CNG Initiative Attracts $50m Investments in Five Months

CNG Fuelled Vehicles

By Adedapo Adesanya The programme director of the Presidential Initiative on Compressed Natural Gas (PI-CNG), Mr Michael Oluwagbemi, has disclosed that the scheme has attracted $50 million in investments in the last five months. He disclosed at a southwest stakeholders’ forum in Lagos yesterday, noting that the programme was launched to ease the impact of fuel subsidy removal and create investment opportunities in Nigeria’s gas sector. Mr Oluwagbemi said the government has continued to mobilise the private sector for compressed natural gas use and investments, adding that the investment inflow to the sector showed the level of commitment by the present