Group Hails CNG Initiative, Cite N760bn Investment, Job Creation

The Tinubu Media Volunteers (TMV) have praised the Federal Government’s Compressed Natural Gas (CNG) initiative, noting its numerous benefits to the economy, transportation costs, and job creation.

In a statement issued today, the group emphasised the significant N760 billion (approximately $USD 491 million in private investments that the initiative has received over the last year.

The statement, signed by TMV Chairman Chukwudi Enekwechi and Secretary SShadrachSunday, recognised the positive ripple effects of the removal of fuel subsidies and the subsequent implementation of the CNG initiative.

“We note that with the removal of fuel subsidies at the start of President Bola Ahmed Tinubu’s administration, and the resulting increase in the cost of premium motor spirit (PMS), the Federal government implemented the Compressed Natural Gas Initiative,” the statement read.

“This has resulted in lower transportation costs for many Nigerians as CNG continues to gain traction in the country, but more commendable is the attraction of approximately N760 billion in private investment into the venture over the last year.”

The TMV also emphasised the significant job creation resulting from the CNG program.

According to PCNGI Programme Director Michael Oluwagbemi, the initiative has resulted in 84,000 direct and indirect job opportunities.

Furthermore, the TMV noted the rapid expansion of CNG infrastructure, citing a jump in conversion centres from seven to over 200 in just one year.

The group expressed optimism about the projected growth, estimating 10,000 conversion centres by the end of the first quarter of 2025.

The statement also praised the Federal Government for providing 405 buses to help Nigerian workers with transportation, as part of agreements reached during wage increase negotiations with the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC).

“We want to state that this initiative is not only pragmatic, but it has the potential to reduce unemployment, boost the economy, and increase Nigerians’ mobility once it takes root,” the TMV declared.

While recognising the progress made, the group urged program managers to expand the CNG initiative’s reach and impact.

“We, however, urge the managers to do more because of the enormous benefits of the CNG-Initiative, which, if harnessed properly, will bring smiles to Nigerians’ faces,” the statement concluded.

The TMV also expressed enthusiasm for the initiative’s expansion to 25 sites across 15 states, which aligns with program managers’ promises to ramp up activities.

They believe that the CNG initiative’s continued development and strategic implementation will greatly benefit Nigerians.