CNG: FG assures enabling environment for business investment, gas availability

CNG: FG assures enabling environment for business investment, gas availability

By Yusuf Yunus
Mrs Olu Verheijen, Special Adviser to the President Bola Tinubu on Energy, has restated the Federal Government’s commitment to creating an enabling business environment to drive the Compressed Natural Gas (CNG) project in Nigeria.

Verheijen, represented by a financia literacy expert, Mrs Eriye Onagoruwa, gave the assurance during the ground-breaking ceremony of Portland Gas Green Park in Lagos.

She said that the implementation of the CNG conversion facility in Ojota, Lagos was expected to attract significant investments into Nigeria.

She also said that the event aligns with the President’s Compressed Natural Gas Initiative, which aims to transform the transportation landscape, reduce energy cost, stimulate economic growth, and promote a cleaner environment by minimising carbon emissions.

The special adviser said that Nigeria, being Africa’s largest economy and most populous country with over 200 million people, has continued to grapple with substantial energy demand.

Verheijen, however, said the challenges present various opportunities to reshape the energy sector not just within Nigeria, but across Africa.

While the country faces energy-related obstacles, Verheijen highlighted the importance of focusing on the energy trifecta of security, affordability, and sustainability.

She commended Portland Gas Ltd.

for its initiative in establishing the gas green park, as it signifies a significant step in harnessing the potential of natural gas.

According to her, natural gas is recognised as a cleaner and more efficient energy source that can have a transformative impact on the economy while preserving the environment.

She noted that the adoption of compressed natural gas (CNG), known for its reduced emissions, improved fuel efficiency, and decreased reliance on imported fuel.

Verheijen noted that the establishment of the green gas park is expected to generate new job opportunities, diversify the economy, stabilise energy prices, and enhance the nation’s economic growth.

She expressed confidence that the green gas park would serve as a model for sustainable development throughout Africa by showcasing Nigeria’s dedication to addressing climate change, transitioning to cleaner energy sources, and building a more resilient future.

Mr Folajimi Mohammed, the Chief Executive Officer (CEO) of Portland Gas Ltd.

, said the idea for establishing a compressed natural gas center was conceived about eight to nine years ago when the national gas exposure program first began.

Mohammed expressed his gratitude to all the partners who have been involved in the project, while emphasising that it was not solely the result of Portland Gas Ltd.

, but rather, a collaborative effort with various partners.

The CEO pointed out the significance of gas as a resource and expressed his disappointment in the limited exploration and utilisation of this abundant natural resource.

He noted that the nation possesses three times the volume of gas compared to oil, and these reserves already been proven.

According to him, the fact underscores the importance of the initiative undertaken by President Bola Tinubu and sets the stage for a remarkable day for Portland Gas and its partners.

Mohammed attributed the revelation of the nation’s vast gas reserves to the removal of fuel subsidies, noting that the expo had emphasised the urgent need to harness and utilise gas effectively.

He, therefore, commended President Bola Tinubu for his efforts in establishing the presidential initiative on compressed natural gas.

Mohammed there was need to expand the usage of gas by establishing conversion centers and training facilities for broader infrastructure and knowledge to facilitate the increased utilisation of this valuable resource.

Similarly, Mr Matthew Kuruvilla, Chief Commercial Officer, Dana Motors/KIA, commended the company for the initiative in bringing CNG conversion to Lagosians.

Kuruvilla said that Dana Motors through its partnership with Portland Gas Ltd.

, plans to convert 1,000 of its vehicles to CNG.

He said that CNG remained more sustainable, eco-friendly, cleaner, and cheaper, adding that the company had also integrated CNG usage into Kia vehicles.

“We plan to convert about 1,000 KIA motors to CNG for effective usage.

“We commended all stakeholders in the downstream sector for initiating CNG conversion and usage to cushion subsidy removal,” said Mohammed.

Mr Musilu Akinsanya, Chairman, Lagos State Chapterof National Union of Road Transport Worker(NURTW), said the union is a major player in the project, especially in mitigating the effeeffects he removal of fuel subsidy on the economy.

Akinsanya, represented by Mr Limboye Olayiwola, State Secretary, NURTW, Lagos State Chapter, assured the organisers of the union’s full support by partnerPortland Gas, Green Park on the projects.

“Once again, we are using this medium to assure you that will not fail you.

We will do our best to make this project successful in Lagos State and in Nigeria in particular,” he said.

Edited by Olawunmi Ashafa

Share on Facebook «||» Share on Twitter «||» Share on Reddit «||» Share on LinkedIn

Read Related News On TDPel Media

Advertisement
Advertisement: Download Vital Signs App (VS App)