The Presidential Compressed Natural Gas Initiative (P-CNGi) has signed a memorandum of understanding with LNG ARETE Limited to expand access and supply of Compressed Natural Gas (CNG) to states in the north.
The project is expected to become fully operational within the next 12 to 18 months, and will ensure the supply of Compressed Natural Gas (CNG) to the north.
P-CNGi is co-investing in a seven-million standard cubic feet per day plant to expand gas access to states in the north.
The investment consortium includes P-CNGi Limited, the Midstream and Downstream Gas Infrastructure Fund, and LNG ARETE Limited.
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Beyond providing a cleaner and more affordable energy alternative, this initiative will drive significant socio-economic benefits through job creation and industrial development.
It aligns with a broader vision to ensure nationwide adoption of CNG as a viable substitute for petrol and diesel, thereby reducing transportation costs and ultimately lowering food prices.
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There are 242 CNG stations already in Nigeria, spreading across various states, including Lagos, FCT, Kaduna, and Ogun.
