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CNG investments hit $980m, says Presidency

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Nigeria’s Compressed Natural Gas sector has attracted more than $980m in private investments in just 18 months, with vehicle conversions surging from 4,000 to nearly 100,000, according to the Chief Executive Officer of the Presidential Compressed Natural Gas Initiative, Michael Oluwagbemi.

Speaking on Wednesday at the launch of the Portland Gas Ltd/NASENI CNG Daughter Station, Auto Conversion and Training Centre along the Kubwa Expressway in Abuja, Oluwagbemi described the CNG programme as the country’s “fastest-growing energy sector”, fueled by government incentives and private sector participation.

“I am pleased to report that just 18 months later, we have tracked over $980m worth of investments in the CNG sector. This is easily the fastest-growing sector in the country today, and it continues to grow in leaps and bounds,” he said.

The CNG initiative, championed by President Bola Tinubu as part of measures to cushion the impact of fuel subsidy removal, is aimed at making transportation more affordable and eco-friendly. Oluwagbemi said the transition to CNG offered motorists up to 90 per cent savings on fuel costs.

“Many of us move around in big jeeps, but that’s just about 10 to 20 per cent of the population. The majority, low-income earners, women, schoolchildren, and the aged, rely on public transportation, and transportation costs money. CNG is cheaper, cleaner, and part of a global shift away from internal combustion engines,” he explained.

According to him, strategic partnerships and incentives have driven the rapid expansion of CNG capacity across the country.

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From just five states with CNG dispensing and conversion facilities a year ago, the number has now risen to 20, with more than 315 conversion centres nationwide. He projected that before the end of 2025, at least 30 states and the Federal Capital Territory would have CNG infrastructure.

He cited major private sector investments, including a N720bn outlay by BUA and Nigerian Bottling Company on CNG trucks and 100 fuelling stations. Oluwagbemi also urged the protection of CNG allocated for automobiles from being diverted to gas-fired power plants.

According to him, because of the incentive for transition to CNG use, using CNG allows about a 90 per cent discount. He, however, sought the protection of the CNG allocated for automobile use from being diverted to fuel power plants.

The Portland Gas Ltd Chief Executive Officer, Folajimi Mohammed, described the launched station as a gas hub because it has a combination of everything about gas.

He said, “This is what we call the Portland Gas/NASENI gas hub. We call it a hub because, one, we have an auto-conversion centre. We have a training centre. We have a refill station as well here. So we have a combination of everything gas.”

He disclosed that the company has secured approval for the same station to sell liquefied petroleum gas. He added, “So we have a four-tonne approval which you can see right behind us for cooking gas too. So, it is a full hub for gas.”

According to him, the cost of conversion has been subsidised by the PCNGI to the extent that it is free of charge for members of the Nigerian Association of Road Transport Owners and National Union of Road Transport Workers, and Bolt drivers.

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Mohammed said in order to extend the CNG to the northern parts of the country, the Nigerian National Petroleum Company Limited is accelerating the work on the Ajaokuta-Kaduna-Kano gas pipeline to also spread it across the nation.

Similarly, the Director-General of the Nigerian Agency for Gas Engineering Infrastructure, Khalil Halilu, said the station was strategically located on the Kubwa expressway since it is central to the North and southern parts of the country.

He said, “We are launching a station on the highway of Kubwa, which you know connects Abuja to the whole of the north, and even the southern part of the country. It is a strategic move to show that the government is ready to position CNG stations in partnership with the private sector, like Portland Gas, in strategic areas to ease transportation for Nigeria.”

He said in partnership with the PCNGI, NASENI has planned for the queues around CNG stations to disappear in the next two years. According to him, the queues indicate that Nigerians have really keyed into the CNG initiative.

Meanwhile, the House of Representatives, however, said it would enact legislation to stop the diversion of auto CNG to other uses such as power plants.

Asked whether the lawmakers would do anything to stop the diversion, the Speaker, Tajudeen Abass, who was represented by Alexander Mascut, said, ‘The lawmakers will make laws to protect the CNG for autogas.

“This transition from something we know to the new one is difficult. However, representatives of the House of Parliament will find a way to come up with legislation that will help to protect gas users.”

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Oshiomhole seeks ban on MTN, DSTV, read why

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The senator representing Edo North, Adams Oshiomhole, on Tuesday called for the revocation of licences of South African companies operating in Nigeria, including MTN and MultiChoice, owners of DSTV, following renewed xenophobic attacks against Nigerians in South Africa.

The call came as the National Assembly condemned the latest wave of attacks, urging the Federal Government to take immediate diplomatic and protective measures to safeguard Nigerian citizens abroad.

Speaking during plenary, Oshiomhole said Nigeria must respond firmly, invoking the principle of reciprocity in international relations.

He said, “I don’t want this Senate to be shedding tears, to sympathise with those who have died. We didn’t come here to share tears.

“If you hit me, I’ll hit you. I think it is appropriate in diplomacy. It’s an economic struggle.”

The former Edo State governor proposed that Nigeria should nationalise MTN and withdraw its operating licence, arguing that the company repatriates significant revenue while Nigerians face hostility in South Africa.

“This Senate should adopt a position that MTN, a South African company that is cutting away millions of dollars from Nigeria every day, should have Nigeria nationalise it and withdraw its licence,” he said.

According to him, such action would not only serve as a deterrent but also create opportunities for indigenous firms, amid what he described as economic and social targeting of Nigerians abroad.

He extended the call to MultiChoice, urging the Federal Government to revoke DSTV’s licence over alleged exploitative practices.

“I call on the Federal Government to revoke DSTV, which is also a South African company that is cutting away millions of dollars,” he said.

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Oshiomhole linked the recurring tensions to domestic political dynamics in South Africa, noting that anti-immigrant rhetoric had become a feature of its politics and was shaping public attitudes toward foreign nationals, including Nigerians.

“When we hit back, the president of South Africa will go on his knees to recognise that Nigerians cannot be intimidated,” he said.

The senator made the remarks while contributing to a motion sponsored by Osita Izunaso, which was read on the floor by Aniekan Bassey under Senate rules on matters of urgent public importance.

Titled “A call for urgent national diplomatic and humanitarian action to defend the dignity, safety and honour of Nigerian citizens,” the motion highlighted growing concerns over the safety of Nigerians in South Africa.

Also speaking, Senator Victor Umeh described the situation as alarming, warning that Nigerians were living in fear.

“It is worrisome. They are hiding for their lives. They can’t move freely. This is a situation where people are paying good with evil,” he said, referencing Nigeria’s historical support for the anti-apartheid struggle.

Umeh called on the African Union to intervene and impose sanctions, warning that Nigeria could no longer tolerate attacks on its citizens.

“The AU, of which South Africa is a member, should rise now and impose necessary sanctions,” he said, adding that “we cannot allow this to continue.”

Oshiomhole, however, doubled down on calls for economic retaliation, arguing that Nigeria must move beyond rhetoric.

“I don’t want this Senate to be shedding tears to sympathise with those who have died. We didn’t come here to shed tears. I am not going to shed tears. If you hit me, I hit you. I think it is appropriate in diplomacy. It is an economic struggle,” Oshiomhole said.

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He further argued that Nigerians should take advantage of opportunities in the local economy, currently dominated by foreign firms.

Senator Abdul Ningi warned South Africans over recent attacks on Nigerians, threatening that the country would take the fight to their territory.

“If a crime has been committed under the South African law, they have the right to bring any such person to justice, but to kill our people as if we are helpless, we will not allow that.

“If these things continue, we have alternatives, we have options, and therefore, these words should be sent across South Africa. We know where South Africans are, not only in Nigeria but all over Africa, and we can take this fight to their territory,” he said.

Speaking, the Senate President, Godswill Akpabio, decried the attack, adding that the National Assembly would send a joint team to meet with the South-African parliament on the matter.

“This is just not acceptable, this is barbaric, this is cruel, this is unheard of, this is strange behaviour, and we’re not seeing action from the government of South Africa. These are aspects that annoy me,” Akpabio said.

The development underscores mounting pressure on the Federal Government to adopt a tougher stance, as recurring xenophobic violence in South Africa continues to strain diplomatic relations and provoke calls for both economic countermeasures and stronger protections for Nigerians abroad.

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Naira gains, trades 1,365/$ at official FX market

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…NFEM rate — N1,365.2474/$

…Naira strengthens by at least N9

…Black market (Buying and selling rates) — N1,390 — N1,400

The Nigerian naira strengthened against the United States (US) dollar, trading at N1,365.2474 at the Central Bank of Nigeria (CBN) official foreign exchange window on Monday, 4th May, 2026.

According to the data shared on the official platform of the Central Bank of Nigeria (CBN), the naira traded at the Nigerian Foreign Exchange Market (NFEM) rate of N1,365.2474 per dollar and closed at N1,367.5000 per dollar.

Tribune Online reports that the Nigerian currency traded at an NFEM rate of N1,374.9431 on 30th April 2026, which was the previous trading date. Comparing this with the trading rate on Monday, the naira strengthened by at least N9.

At the parallel market, the naira-to-dollar buying rate decreased by N3, while the selling rate increased by N2, compared with the previous trading rate on 30th April, 2026.

According to Aboki FX, the Naira-to-dollar exchange rate at the black market on Monday, 4th May, 2026, was N1,390 for the buying rate and N1,400 per dollar for the selling rate.

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Experts promote rabbit value chain investment

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Experts in animal production have identified rabbit farming as a viable avenue for economic growth, job creation, and improved nutrition in Nigeria.

The experts made this known during a public lecture held at the Bauchi State College of Agriculture on Friday as part of activities marking Rabbit Appetite Day.

Speaking at the event, a registered animal scientist and lecturer at the Federal Polytechnic Damaturu, Sani Muazu, said there was a need to promote both the consumption and commercial production of rabbits across the country.

He described rabbit production as a largely untapped but promising sector capable of contributing significantly to Nigeria’s economy.

“Rabbit farming in Nigeria is still underdeveloped, with only about three to five per cent of the population engaged in the enterprise, mostly at small-scale family levels where farmers keep an average of two to seven breeding females. Despite this, the sector offers vast opportunities for expansion and commercialisation,” he said.

Muazu noted that rabbits are highly productive animals, with a gestation period of about 30 days and the capacity to produce up to 20 or more offspring annually.

He added that their low feeding and housing requirements make them suitable for students, smallholder farmers, and urban residents seeking alternative sources of income.

According to him, rabbit production extends beyond farming to other economic activities such as breeding, feed supply, veterinary services, processing, and marketing.

He also highlighted the nutritional value of rabbit meat, describing it as rich in protein, low in fat, and suitable for addressing protein deficiency in the country.

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On environmental sustainability, Muazu said rabbits require less land and water and emit fewer greenhouse gases compared to larger livestock, making them suitable for climate-smart agriculture, particularly in semi-arid regions.

However, he identified low public awareness and high mortality rates among young rabbits as major challenges hindering the sector’s growth.

He urged students and youths to take advantage of opportunities in rabbit farming by starting small-scale ventures that could grow into profitable agribusinesses, while calling on government and private sector players to invest in the development of the rabbit value chain.

In his remarks, the Provost of the Bauchi State College of Agriculture, Dr Ahmed Isah, described the event as timely and impactful, noting that it would encourage students to embrace self-employment through agriculture.

“Such initiatives are critical in addressing unemployment. Graduates can become employers of labour through ventures like rabbit farming,” he said.

He also encouraged members of the public to engage in rabbit production, describing it as a profitable and easy-to-start enterprise with the potential to improve livelihoods and boost the nation’s economy.

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