The launch of the Compressed Natural Gas (CNG) vehicle conversion centres by the Presidential Compressed Natural Gas Initiative (PCNGi) on October 29, 2023, is expected to give access to cheaper and cleaner energy for the people of Lagos.
The CNG conversion centre, located at FEMADEC Energy Group’s station at KM42, Lekki-Epe, Expressway in Abijo, Lagos State was the first of many across the country as other CNG stations in other states including Ogun, Rivers, Kaduna, and the FCT were commissioned for operations in quick successions, in the succeeding days.
President Bola Ahmed Tinubu’s administration, in the wake of the complete deregulation of the petroleum products market at inception, had set up the PCNGi and charged it with the mandate to innovate ways of bringing the transition to CNG as an alternative energy source to PMS to live to provide respite for the masses.
In a statement seen by BusinessDay, Micheal Oluwagbemi, the Project Director and CEO of PCNGi, referred to the opening of the CNG conversion centre at the FEMADEC Energy Group as a noteworthy milestone that will usher in a future for Nigeria that is both ecologically sustainable and economically advantageous for Nigerians, the economy, and the environment.
“This flexibility and diversification of fuel sources will ultimately enhance energy security for Lagosians by facilitating a reduction of the dependency on imported petroleum products and its attendant traumatic global market fluctuations,” the statement read.
According to the statement, with more vehicles transitioning to CNG soon, there will be reduced demand for petrol and diesel, which will alleviate the agony of fuel shortages and long queues at petrol stations, a most common sight in Lagos during fuel crises.
“One other key appeal of the CNG Conversion is the efficiency and speed with which it operates. Vehicle owners can bring their vehicles to the centre and have them converted in just about 8 hours. This quick turnaround time is a major benefit, as it minimizes the inconvenience caused to the vehicle owners.
“It means that individuals do not have to leave their vehicles at the centre for an extended period and can return to their daily routines with their converted cars or buses in a relatively short time. However, the most telling benefit of the CNG transition is the cost savings it will avail vehicle owners as CNG is significantly cheaper than traditional petrol.”
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According to the PCNGi estimates, a litre of CNG will be sold between N320 and N350, while PMS is presently retailed at about N550 to N650/litre.
This means that CNG offers twice as much volume as PMS and even more value than diesel for transportation. For the individual, this translates to less spend on commuting, and for transporters, more profit from business operations.
“The opening of the CNG conversion centre at FEMADEC Energy Group’s station along the Lekki-Epe Expressway marks a significant step towards a more sustainable and affordable transportation system for Lagosians and Nigerians at large.
“As Lagosians expectedly begin to embrace the switch to a greener and more cost-effective fuel source, the potential for a brighter, cleaner, and more sustainable future for Lagos beacons.”
According to the statement, with the continued support from the government, and the sustained commitment of PCNGi, private sector partners, and the Nigerian public, this promises to be the dawn of a resounding transition to a cleaner and more prosperous future for all Nigerians.
