• Wednesday, June 19, 2024
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Nord, Mezovest urge government to accelerate investments in CNG for sector growth

FG engages stakeholders on CNG conversion modalities

The Chief Executive Officers of Nord Automobiles and Mezovest, Oluwatobi Ajayi and Tosin Thompson, respectively have called on the Federal Government to accelerate investments in Compressed Natural Gas (CNG) infrastructure to foster wider adoption and drive growth in the sector.

Speaking at a Conversation Series on CNG organised by Avalon Media, Oluwatobi Ajayi, emphasized the importance of transitioning to CNG, citing environmental and economic benefits.
“The adoption of CNG is crucial for Nigeria’s sustainable future. It is a more cost-effective alternative and will ease the financial pressure on many Nigerians. The only problem is that people willing to convert to CNG are worried about the unavailability of refuelling stations,” Ajayi said.

Echoing Ajayi’s view, Tosin Thompson, CEO of Mezovest highlighted the need for policy support and incentives to stimulate the CNG market.

Read also: Dangote Cement targets CNG truck deployment by 2025

He emphasized that government investments in CNG infrastructure would not only catalyse the growth of this sector but also attract private investors and create job opportunities, thereby contributing to the nation’s economic growth.

Both leaders stressed the strategic importance of CNG in Nigeria’s energy mix, considering the nation’s significant natural gas reserves. They urged the government to prioritise developing refuelling stations and conversion kits, which are critical for the mass adoption of CNG vehicles.

Thompson highlighting the broader economic benefits, said: “Accelerating investments in CNG will help Nigeria achieve its climate goals and reduce our dependency on imported fuels, strengthening our economy. We are ready to collaborate with the government and other stakeholders to realise this vision.”