By Muhammad Mamman
The Federal Government has announced that it has already attracted over $2 billion in private-sector investments into Nigeria’s Compressed Natural Gas (CNG) industry, with plans to scale this figure to $5 billion by 2027 as momentum accelerates.
The disclosure was made by the Executive Chairman and Chief Executive Officer of the Presidential Initiative on Compressed Natural Gas and Electric Vehicles (PiCNG), Ismaeel Ahmed, during the unveiling of new CNG technologies by Alfa Design Nigeria Limited in Abuja on Friday. His message was delivered on his behalf by PiCNG’s Chief Compliance Officer, Zayyanu Tambari.
Ahmed described the transformation of the sector as remarkable, noting that the CNG landscape was “virtually non-existent” when the programme began in 2023.
“As of 2023, when this programme started, the CNG sector was virtually non-existent. It was not really attracting any serious investment from any quarters. Today… we have attracted over $1.8 billion in investments. We have rounded up to $2 billion of private-sector investment in the CNG subsector in just two years,” he said.
Labeling the $5 billion target as “modest,” he added that rising investor confidence could push the figure into “double-digit billions” by 2027.
The initiative has also sparked significant job creation. According to Ahmed, more than 80,000 direct jobs have already been generated, with projections indicating a rise to at least 300,000 positions by 2027. “We are reasonably confident we will meet and exceed this target,” he stated.
Infrastructure development has surged in tandem. CNG vehicle conversion centres have grown from only seven in 2023, following President Bola Tinubu’s launch of the programme, to 369 currently, with a target of 3,000 centres within the next three years.
Refuelling infrastructure has expanded as well, increasing from 20 stations in 2023 to more than 68 licensed outlets, alongside over 150 others at various stages of construction. The government aims to establish between 2,000 and 2,500 CNG retail stations nationwide by 2027.
Ahmed reaffirmed the government’s commitment to deepening clean, affordable fuel adoption, adding that stronger private-sector participation remains crucial in driving the country’s transition to gas-powered mobility.
