The has lauded the Compressed Natural Gas (CNG) Initiative of President Bola Ahmed Tinubu, as the
The Presidential CNG Initiative (P-CNGI) has launched its pilot Conversion Incentive Program and the handover of CNG buses to transporters in Kogi State.
Minister of Steel Development, Prince Shuaibu Abubakar Audu, in his address at the event, told Kogites that the “Renewed Hope Agenda” of President Tinubu has been brought to their doorstep, noting that the CNG initiative seeks to reduce the cost of transportation by over 40 percent to cushion the impact of the removal of fuel subsidy.
A statement by Head Press & Public Relations, Salamatu F. Jibaniya on Thursday said the Minister also noted that plans are underway to make Ajaokuta one of the CNG hubs of Nigeria, as the ministry is on the verge of presenting a proposal to the President for the establishment of an Indutrial Park within the Ajaokuta environ, which will also host a CNG park and a Free Trade Zone.
“Mr President said in his Independence Day speech that because Nigeria spends over $10billion annually on fuel subsidy, Nigeria was on the brink of an economic collapse, and therefore he needed to do something very quickly, which was why petroleum subsidy was removed.
“There are some challenges that have come with that, which is the high cost of food prices, and Mr. President has told all of us that he is doing something to reverse that trend to ensure that prices of food come down quickly, one of which is the provision of CNG Venices to Nigerians.
“Mr. President has mandated that we should have one million CNG vehicles and/or conversions, and it needs to in place before the end of 2025. So, one million vehicles will be converted from petrol to gas in the next year, and this is very significant.
“I want to tell you some of the benefits of this CNG conversion site and the critical role Ajaokuta plays in that light. Ajaokuta is a gas hub for Nigeria. There are gas lines passing from Warri all the way to Ajaokuta, from Ajaokuta to Kaduna and Kano (AKK Pipeline), meaning that there are billions of cubic feet of gas that are being transported from Ajaokuta to other parts of Nigeria annually.
“We are taking a proposal to Mr. President to declare Ajaokuta an Industrial park that will also have a CNG park which will be one of the CNG hubs in Nigeria.
“And instead of having situations where most of the CNG conversion centres and CNG parks are outside of Kogi State, Ajaokuta has the land, Ajaokuta has the gas, and Ajaokuta has the facility for conversion kit production. The Industrial park will attract steel companies to Ajaokuta. So, anything that we need is within our environs. And most importantly, that will create thousands of jobs for Kogites and Nigerians as a whole.
“So, the Renewed Hope Agenda of President Bola Ahmed Tinubu is here and will turn around the economy, therefore, the desire of Mr. President to grow the economy by $1 trillion by 2030, and we will achieve that by the special grace of God,” Prince Audu stated.
