Nigeria’s Presidential Initiative on Compressed Natural Gas (PiCNG) has drawn about $2 billion in private-sector investments since its launch two years ago, the initiative’s CEO has announced.

The disclosure was made at a demonstration event in Abuja, where companies unveiled new CNG conversion kits, cylinders, and refuelling technologies signaling rising investor confidence in the country’s shift to cleaner, cheaper transport energy.

PiCNG, created in 2023, has rapidly expanded Nigeria’s CNG infrastructure. Vehicle conversion centres have grown from 7 to over 360, while licensed CNG stations have increased from about 20 to more than 68, with 150 more under construction.

The government is targeting $5 billion in total CNG investments by 2027 and expects the sector to support as many as 300,000 direct jobs.

Officials say the growing investment is helping Nigeria build a viable CNG ecosystem capable of reducing fuel costs, cutting emissions, and boosting energy security. Visit www.jocomms.com for more news.