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FG Claims Investments in Presidential CNG Initiative Now $450m
By Adedapo Adesanya
Nigeria’s Presidential Compressed Natural Gas Initiative (PCNGi) claims that investments in championing the CNG value chain have hit $450 million.
This was disclosed by Mr Michael Oluwagbemi, Project Director and Chief Executive Officer (CEO), PCNGi, during the 9th Edition of the Nigeria Energy Forum (NEF2024) Day 2, Virtual Event themed Energising Sustainable Industrialisation.
According to the PCNGi CEO, the amount goes into things like mother stations, daughter stations and refuelling stations as well as conversion centres which are starting to spring up across the nation.
Mr Oluwagbemi, represented by Mr Tosin Coker, the Head of Commercial, PCNGi, said the initiative had successfully converted more than 10,000 vehicles from petrol to CNG.
“By 2027, the initiative will have converted more than one million vehicles using petrol to CNG,” he said.
On incidents of explosion of vehicles using CNG, the CEO assured Nigerians that it had taken precautionary measures with different agencies of government to ensure safety.
Mrs Ibironke Olubamise, National Coordinator of the GEF Small Grants Programme (SGP), managed by UNDP, said the SGP was investing in youth energy innovation for economic growth and environmental sustainability.
Mr Daniel Adeuyi, NEF Group Chairman, said, “The event featured three super sessions on Energising Industrial Revolution, Community Climate Action by GEF-SGP UNDP and Clean Energy Innovations.
“The sessions are to share lessons learnt from real-life projects and build capacity of young entrepreneurs and cross-industry professionals.”
Mr Joseph Osanipin, the Director General of the National Automotive Design and Development Council (NADDC), said that the council had trained more than 4,000 auto technicians on how to convert petrol vehicles to CNG.
He said the council had started campaigns to sensitise Nigerians on the advantages of using CNG to power their vehicles.
“CNG can guarantee a cleaner environment, it is cheaper and affordable,” he said.
Mr Oluwatobi Ajayi, the Chairman and Managing Director of Nord Automobile Ltd., said the company was established to tackle the growing demand for vehicles in Africa and reduce import dependency.
He said that because of the Federal Government’s CNG initiative, the company had incorporated it into their vehicle production to meet up with the government policy.
Mr Armstrong Tankan, the Managing Director and Chief Executive Officer, Ministry of Finance Incorporated (MOFI), said that MOFI was set up in 1959 as the statutory vehicle to hold all the assets owned by the federal government.
“Today, we’ve been able to identify the assets the federal government owns and we are trying to track them.
‘We actually do have assets, not just locally but globally as well and we must establish visibility over what the federal government owns before we can start talking about managing them.
“So, we want to try to minimise the waste, minimise the overlaps and help to improve output,” he said.
By Dipo Olowookere
Residents and motorists plying the Aina Obembe Road in Baruwa, Ipaja, Lagos, may soon heave a sigh of relief as the excruciating traffic gridlock being experienced in the area both day and night may soon be a thing of the past.
This is because the chairman of Ayobo-Ipaja LCDA, Mr Lukmon Agbaje, has directed those involved in indiscriminate truck parking along the road to remove the heavy-duty vehicles within one week, threatening to invoke appropriate enforcement measures for noncompliance with this directive.
Speaking during a meeting on Wednesday with the management of SENA Company, which owns the affected trucks, as well as the leadership of Oluwadara CDA and other key stakeholders like the Lagos State Traffic Management Authority (LASTMA), at the council’s secretariat, Mr Agbaje frowned at the prolonged inconvenience suffered by the community, stressing that public roads must remain accessible and safe for all users.
He emphasised the need for a collaborative approach in resolving the issue without undermining legitimate business operations, noting that he’s focused on finding a lasting solution to the gridlock experienced between Oluwaga and Aina Obembe, where parked trucks have continued to obstruct traffic, disrupt business activities, and pose safety concerns for residents and motorists.
He tasked the firm and the CDA to jointly identify and implement alternative parking arrangements that would remove all trucks from the affected roads and restore the free flow of traffic.
He declared that, “The welfare of our people remains our highest priority. No individual or corporate organisation should obstruct public infrastructure or create avoidable hardship for residents. We must ensure that economic activities coexist with public safety, order, and convenience.”
The council chief reaffirmed his administration’s commitment to promoting orderly development, ensuring safe and accessible roads, improving traffic management, and creating an environment where businesses can thrive alongside the well-being of residents.
By Adedapo Adesanya
The federal government has cut import levies on new and used vehicles by as much as 10 per cent in a move aimed at reducing the cost of vehicle importation, even as it commenced the implementation of a new Green Tax surcharge.
According to an update issued by the Nigeria Customs Service (NCS) on Wednesday, the import levy on new vehicles has been reduced from 20 per cent to 10 per cent, while the levy on used vehicles has been slashed from 15 per cent to five per cent under the 2026 Fiscal Policy Measures, which took effect on July 1, 2026.
The customs said the policy is designed to ease the cost of vehicle imports while advancing the government’s environmental sustainability objectives through the newly introduced Green Tax.
The implementation also reduces the overall import duty on fully built passenger vehicles from 70 per cent to 40 per cent.
As part of the Green Tax framework, a new environmental surcharge of between two per cent and four per cent will apply to petrol-powered vehicles with engine capacities exceeding 2,000cc. However, mass transit buses, electric vehicles, and passenger cars with engines below 2,000cc are exempt from the surcharge.
Beyond the automobile sector, the fiscal measures also lower import duties on several essential goods. The duty on imported rice has been reduced from 70 per cent to 47.5 per cent, while crude palm oil now attracts a 28.75 per cent duty.
In addition, import duties on agricultural and manufacturing machinery have been completely removed to support local production, while Waste PET has been added to the export prohibition list to encourage domestic recycling.
By Dipo Olowookere
Plans are underway to carry out a comprehensive data capture and registration exercise of all commercial motorcycle and tricycle operators within Ayobo-Ipaja LCDA.
This move, according to the council chairman, Mr Lukmon Agbaje, is part of proactive measures to strengthen the security of lives and property across the Local Council Development Area (LCDA). The exercise, he said, would be executed in partnership with security agencies and transport unions.
On Tuesday, the council chief convened a high-level security meeting with leaders of commercial transport unions and key security stakeholders operating within the area.
Mr Agbaje expressed concern over the increasing influx of commercial motorcycle (Okada) and tricycle (Keke) operators into the LCDA without proper documentation or profiling.
According to him, the absence of reliable records poses significant security challenges and could provide opportunities for criminal elements to infiltrate communities under the guise of commercial transportation.
He stressed that security is best achieved through preventive measures, noting that effective profiling and documentation remain essential tools in safeguarding residents and protecting the council from emerging security threats.
Mr Agbaje disclosed that under the new security framework, all Okada and Keke parks and operational locations across the LCDA would be officially documented, adding that every duly verified operator would receive an official identification jacket bearing a unique coded number to facilitate easy identification and monitoring.
He also said a mandatory guarantor system will be introduced to strengthen accountability, ensuring that every registered rider has a verifiable guarantor who can be contacted whenever necessary.
The chairman noted that these measures are designed not only to improve security coordination but also to protect law-abiding commercial operators and discourage criminal activities within the council.
Leaders of the various transport unions welcomed the initiative, noting that proper documentation will distinguish genuine operators from criminal elements, enhance public confidence, and promote a safer working environment for commercial transporters.
Also, the Divisional Police Officers (DPOs) of Ayobo and Ipaja Commands commended the initiative, describing it as a timely and commendable step towards strengthening community policing. They reaffirmed the Nigeria Police Force’s commitment to working closely with the council to ensure full compliance and sustain peace and public order.
