Business

Opportunities For Local Vehicles Manufacturers In Presidential Compressed Natural Gas Initiative

Published

3 years ago

August 22, 2023

367 Views

The Special Adviser to the President (Media and Publicity), Ajuri Ngelale, says that the Presidential Compressed Natural Gas Initiative (PCNGI) holds immense opportunities for local vehicles manufacturers and assemblers.

The PCNGI was recently established by
President Bola Ahmed Tinubu to facilitate nationwide adoption of gas-powered vehicles.

In a statement, Ngelale said that the initiative was in furtherance of the government’s commitment to easing the impact of fuel subsidy removal on Nigerians by reducing energy costs.

“The transformative initiative is poised to revolutionise the transportation landscape in the country, targeting over 11,500 new Compressed Natural Gas (CNG) enabled vehicles and 55,000 CNG conversion kits for existing PMS-dependent vehicles, while simultaneously bolstering in-country manufacturing, local assembly and expansive job creation in line with the presidential directive”, he said.

The initiative, which comprises a comprehensive adoption strategy, will include the following: empowering workshop programmes/nationwide network of workshops, local assembly and job creation as key points of emphasis with an initial focus on mass transit systems and student hubs to significantly reduce transit costs for the general populace in the immediate term.

“In line with the PCNGI’s determination to ensure a seamless integration of CNG utility within the current midstream and downstream energy value chain to support its sustainability, the PCNGI will facilitate the provision of workshops across all geopolitical zones and states with essential kits and comprehensive training for newly employed staff, thus creating new opportunities for technical skill development and employment for Nigerians.

“The new nationwide network of workshops to be established through the initiative would ensure widespread access and demand side utilisation of CNG technology and CNG-related expertise, thereby facilitating smoother transitions for vehicle owners at the wider benefit of the Nigerian economy,” he stated.

Under the aegis of the PCNGI, the strategic objectives, which will be achieved, include the development of new stakeholder-operated intrastate mass transit systems built on CNG; support for states to onboard new CNG buses as part of their intrastate mass transit network (wholesale conversion, retro-fitting and new purchase); the deployment of CNG buses through existing private mass transit operators, including new financing programmes for operators through an innovative asset finance programme.

Others are: Incentivise investors to invest in CNG processing, distribution and utilisation by providing incentives for enhanced investment and partnership; deliver training and technology transfer to support the after-sales services and maintenance of sub-industry to create sustainable jobs.

Tinubu’s focus on assembling CNG-enabled vehicles within the country is expected to stimulate economic growth, create employment opportunities and bolster the nation’s automotive manufacturing capabilities.

“The launch of this initiative also underscores this administration’s commitment to fostering a cleaner environment by reducing carbon emissions and promoting energy security through the utilisation of domestic natural gas resources,” Ngelale said.

Related Topics:Local Vehicles Manufacturers Natural Gas Initiative

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Exchange Rates Today Friday, 12 June

Black Market Rates
US Dollar (USD) ₦1,397
Great British Pound (GBP) ₦1,850

Published

3 days ago

June 12, 2026

OCHEFA

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Official CBN Exchange Rates

US Dollar (USD) ₦1,363. 83

Great British Pound (GBP) ₦1,821. 25

EURO (EUR) ₦1,572. 90

SWISS FRANC (CHF) ₦1,706. 49

JAPANESE YEN (JPN) ₦8.50

CHINESE YUAN (CNY) ₦201.20

West African CFA (XOF) ₦2.40

West African Unit Account (WAUA) ₦1,857. 45

SAUDI RIYAL (SAR) ₦363. 29

SOUTH AFRICAN RAND (ZAR) ₦82.61

Black Market Rates

US Dollar (USD) Buy ₦1,397 Sell ₦1,405

Great British Pound (GBP) Buy ₦1,850 Sell: ₦1,870

EURO (EUR) Buy ₦1,587 Sell ₦1, 607

Canadian Dollar (CAD) Buy ₦1,030 Sell ₦1,100

South African Rand (ZAR) Buy ₦75 Sell ₦90

UAE Dirham Buy ₦350 Sell ₦370

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West African CFA Buy ₦2, 380 Sell ₦2, 460

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Australian Dollar Buy ₦800 Sell ₦900

Business

Airtel launches data calculator to counter depletion complaints

Commenting on the significance of the launch, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, said that the company remains focused on building a network and customer experience ecosystem anchored on trust, transparency and continuous improvement.

Published

4 days ago

June 11, 2026

OCHEFA

60 Views

Airtel Nigeria has launched the Airtel Web Data Calculator, a new digital tool designed to help customers estimate and better understand their internet data consumption based on real-life usage patterns.

Available through Airtel’s website, the calculator enables customers to estimate data usage across common digital activities such as video streaming, social media engagement, voice and video calls, and everyday web browsing.

Speaking on the launch, Oladokun Oye, Customer Experience Director, Airtel Nigeria, said that the initiative reflects Airtel’s commitment to customer empowerment and service transparency.

“As Nigerians become increasingly dependent on digital services for work, education, entertainment and communication, it is important that customers have clear visibility into how their data is consumed.

The Airtel Web Data Calculator was developed to help our customers understand their usage patterns better, make informed choices, and enjoy greater confidence in their digital experience,” he said.

Commenting on the significance of the launch, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, said the company remains focused on building a network and customer experience ecosystem anchored on trust, transparency and continuous improvement.

“The future of telecommunications will be defined not only by network investments but also by how effectively operators help customers understand and manage their digital lives. The Airtel Web Data Calculator represents a practical innovation that places more information and control directly in the hands of our customers.” He said.

Business

Kingsley Moghalu chairs Bluecode Africa subsidiary in Nigeria

Moghalu served as Deputy Governor of the Central Bank of Nigeria from 2009 to 2014, heading the Financial System Stability and Operations Directorates at different periods.

Published

4 days ago

June 11, 2026

OCHEFA

61 Views

Bluecode Africa, the European payments infrastructure operator backed by leading US and European institutional investors, has named Prof Kingsley Chiedu Moghalu as Chairman of the Advisory Board of its Nigerian subsidiary, Bluecode Payments Nigeria Limited as the company formally enters the Nigerian market.

The appointment was jointly announced by Chris Pirkner, Founder of Bluecode, and Odin Krismayr, Managing Director of Bluecode Africa, who described it as a foundational governance decision for the company’s Nigerian and continental operations.

Moghalu served as Deputy Governor of the Central Bank of Nigeria from 2009 to 2014, heading the Financial System Stability and Operations Directorates at different periods.

He led the team that introduced the unique-identifier Bank Verification Number (BVN), enrolling 50 million banking users, simplifying Know Your Customer (KYC) procedures, and doubled Nigeria’s financial inclusion rate from 33 to 60 per cent.