• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, May 9, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Nigeria’s CNG Initiative doing wonders as private investments soar

CNG

The Matters Press by The Matters Press
April 18, 2025
Reading Time: 2 mins read
0
CNG initiative attracts $50m investment in Nigeria

The Tinubu Media Volunteers (TMV) have applauded what it described as the multi-faceted impact of the Federal Government’s Compressed Natural Gas (CNG) initiative.

RELATED POSTS

With NELFUND’s Disbursement of N53b, Nigerian students have cause to celebrate – TMV

Profit surge among Nigeria’s loss-making companies indication of economic recovery – IMPI

Nigeria will do better than IMF’s 3% growth forecast for 2025, Think Tank predicts

In a statement signed by its Chairman Chukwudi Enekwechi and Secretary Shedrach Sunday, the group acknowledged the inflow of N760 billion investment into the CNG initiative in the last one year.

“We note that with the removal of fuel subsidy at the inception of President Bola Ahmed Tinubu administration, and the attendant increase in cost of premium motor spirit (PMS), the Federal government rolled out the Compressed Natural Gas Initiative.

“This has led to cheaper cost of transportation for many Nigerians as CNG continues to take root in the country, but
more commendable is the attraction of about N760 billion in private investments into the.venture in the past one year.

“In dollars terms, the initiative has attracted about $491m investment into the country, and there are signs that more investments would flow in subsequent years.

“Additionally, the CNG Initiative has generated 84,000 direct and indirect jobs, and this is based on information provided by the PCNGI Programme Director, Michael Oluwagbemi.

“We also note that within a period of one year, CNG conversion centres have increased from seven to over 200 centres across the country with expectations of an increase to 10,000 by the end of the first quarter of 2005.

“In addition, we commend the Federal Government for providing 405 buses to ease the transportation needs of Nigerians workers based on an agreement with Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) during the wage increase negotiations.

“We want to state that this initiative is not only pragmatic, but has potential to reduce unemployment, boost the economy, and increase the mobility of Nigerians when it takes firm root.

“We, however, urge the managers to do more because of the immense benefits of the CNG-Initiative which, if harnessed well, will put smiles on the faces of Nigerians,” the statement added.

TMV also noted that it looks forward to the extension of the CNG initiative to 25 sites and 15 states in line with the pledge of the managers of the programme to ramp up its activities.

End

Tags: CNG
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Nigerians kick against re-opening of schools as COVID-19 bites harder
Economy/Technology

With NELFUND’s Disbursement of N53b, Nigerian students have cause to celebrate – TMV

May 9, 2025
Nissan recalls 1,150,000 vehicles in 3 months
Economy/Technology

Profit surge among Nigeria’s loss-making companies indication of economic recovery – IMPI

May 8, 2025
Economists Challenge IMF on call for further VAT increase in Nigeria
Economy/Technology

Nigeria will do better than IMF’s 3% growth forecast for 2025, Think Tank predicts

May 6, 2025
Egypt’s economic strides excite AfDB
Economy/Technology

AfDB President, Adesina wrong on Nigeria’s GDP at Independence – IMPI

May 5, 2025
Nigerians kick against re-opening of schools as COVID-19 bites harder
Economy/Technology

Nigeria’s scrapping of foreign education Scholarship will curb waste

May 3, 2025
Nigeria marks Workers’ Day as labour, government seek support for workers’ welfare
Economy/Technology

TMSG hails FG for keeping faith with wage award deal with Labour, urges states to follow suit

April 30, 2025
Next Post
Ganduje condoles with Niyi Akinsiju on mother’s death

Ganduje condoles with Niyi Akinsiju on mother's death

Nigeria regains top crude oil production spot in Africa

Nigeria’s naira-for-crude policy, answer to the high cost of living

Recommended Stories

CAC, Pakistani investors on economic diversification

Stakeholders discuss nation’s economy

October 2, 2022
Nigeria’s N225bn bonds oversubscribed

Nigeria re-opens auction of 4 bonds worth N360bn

January 24, 2024

COVID-19: Over 1,000 test positive on the first phase of rapid testing

November 14, 2021

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • With NELFUND’s Disbursement of N53b, Nigerian students have cause to celebrate – TMV
  • Profit surge among Nigeria’s loss-making companies indication of economic recovery – IMPI
  • Nigeria will do better than IMF’s 3% growth forecast for 2025, Think Tank predicts

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us