FEMADEC Energy Limited, through the Presidential Compressed Natural Gas Initiative (PCNGI), has commissioned a CNG conversion centre in Lagos, making it one of the seven established centres through the initiative across the country.
The unveiling took place at the company’s office in Lagos on Saturday, October 28, 2023, after signing an agreement with the FG on Friday in Abuja.
Armstrong Takang, Managing Director of the Ministry of Finance Incorporated (MOFI), in his opening remarks, said that the FG is making a conscious decision to alleviate the impact of subsidy removal on her citizens.
According to him, this initiative addresses the twin challenges of sustainability and fiscal responsibility, which have become integral in the modern world.
“We thank Nigerians and the President for working to move the country forward. We also want to thank FEMADEC for taking the initiative to establish this facility.#
“This also an opportunity for private sector players to take advantage of this. We hope that many more of these workshops will be held by you as investments.
“We also hope that this initiative leads to the development of our communities and other businesses and entrepreneurs can take advantage of this initiative,” he said.
On the other hand, Micheal Oluwagbemi, Chief Executive Officer of PCNGI, while speaking at the inauguration of the FEMADEC Station on Saturday, described the step as a significant development in diversifying the transportation sector from fuel dependency to natural gas.
Oluwagbemi said that the CNG centre would pave the way for a more ecologically sustainable and economically prosperous future in Nigeria.
“Today, as we officially open the Lagos Conversion Centre, we go beyond the inauguration of a facility; we extend a hand to a greener, more sustainable, and affordable future.
“We are not just changing how we fuel our vehicles; we are changing lives, one job at a time.
“The commissioning of the first of Lagos PCNGI Pilot Conversion Centres is historic, as it is the first of many such facilities planned under the P-CNGi initiative,” Oluwagbemi said.
Speaking further, the chief executive officer noted that the centres represented Nigeria’s commitment to transitioning to cleaner and more affordable energy solutions. According to him, the initiative would create jobs and greener opportunities.
“More than 1,000 of such centres are planned nationwide in the next few years, with 55,000 conversions planned under the Palliative Program that have kicked off, designed to reduce the cost of transportation, especially mass transit for poor Nigerians.
“This works by collaborating with the private sector to expand the conversion centre network of Nigeria from seven to at least 70 while creating over 2,000 jobs converting vehicles from petrol to CNG Bi-fuel that runs cheaper, cleaner and better.
“This initiative aligns with President Bola Tinubu’s commitment to easing the impact of fuel subsidy removal on Nigerians by reducing energy costs,” said Oluwagbemi.