Installation of Pumps For Cheaper Fuel Increases by 233% as Sellers Move to Crash Prices Further

Installation of Pumps For Cheaper Fuel Increases by 233% as Sellers Move to Crash Prices Further

  • The Presidential Committee on CNG adoption has disclosed that the installation of CNG pumps has risen by 233%
  • Michael Oluwagbemi, Coordinator and Chief Executive of the Pi-CNG, disclosed this during a tour of plants
  • He said the rise in the installation of CNG pumps nationwide signals the readiness of the Nigeria government to adopt CNG on a large scale’s Pascal Oparada has reported on tech, energy, stocks, investment, and the economy for over a decade.

Since November last year, the deployment of dispensing pumps for Compressed Natural Gas (CNG) has risen by 233% in six months.

Michael Oluwagbemi, Coordinator and Chief Executive of the Presidential Initiative on CNG (Pi-CNG), disclosed this as he addressed journalists at a Mikano International CNG Vehicle assembly plant tour in Ogun State.

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FG to increase CNG pumps nationwide, NNPC
Nigeria begins installation of CNG pumps across Nigeria Credit: Novartis
Source: Getty Images

Mikano to install more pumps

Mikano has shown interest in deploying about 18 CNG pumps nationwide for widespread CNG adoption.

Oluwagbemi stated that CNG pumps were merely 18 dispensers across Nigeria as of November last year, but the number has risen to over 60, and people are still building.

He says over 120 applicants are waiting to be cleared to install at the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

Vanguard reports that Oluwagbemi stated that the tour was to see the capability of the committee partners, which Mikano is part of, to meet Nigeria's demands regarding manufacturing and support the CNG revolution.

He said that some of the factories producing the pumps also run on gas to support the project.

He said:

“For example, these factories run on gas 24/7 And that shows that you do not just use the gas to power your transportation sector, but you can also use it to power your economy. And that provides a cheaper, more efficient form of powering your industrialization.”

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Mikano receives orders for CNG buses from FG

The Chairman of Mikano International, Mofid Karame, said that the company has begun assembling CNG-powered vehicles and has received government orders for many buses.

He said the company is also building a CNG station along the Sagamu expressway to fill a few vehicles and for transport, and more than 18 stations are being built nationwide.

“I believe that within the next six months, at least 30% of our vehicles should be CNG or with a CNG service,” he said.

FG fixes date to roll out vehicles running on cheaper fuel earlier reported that The Presidential Compressed Natural Gas Initiative (PCNGI) is set to roll out its national deployment plan on May 29, 2024.

The PCNGI scheme’s director and chief executive, Michael Oluwagbemi, disclosed this in a statement on Wednesday, May 15, 2024, saying that the initiative is part of President Bola Tinubu’s government commitment to boosting sustainable energy solutions and reducing carbon emissions.

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He disclosed that there would be a series of activities leading up to the highly expected nationwide deployment plan to be launched on May 29, 2024, reports say.


Pascal Oparada avatar

Pascal Oparada (Business editor) Pascal Oparada is a Mass Communications Graduate from Yaba College of Technology with over 10 years of experience in journalism. He has worked in reputable media organizations such as Daily Independent, TheNiche newspaper, and the Nigerian Xpress. He is a 2018 PwC Media Excellence Award winner.

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