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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.
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Police Resumes Issuance of Tinted Glass Permit, Gives 30-Day Grace Period

By Modupe Gbadeyanka
In order to tackle the constant harassment of motorists by security operatives over the use of tinted windows in the country, the Nigeria Police Force (NPF) has resumed the issuance of tinted glass permit.
In a statement by its spokesman on Wednesday, Mr Olumuyiwa Adejobi, the police said motorists can now apply for the permit via a digital platform designed to make the process seamless.
The reactivation of the permit system is a strategic move to identify lawful users such as individuals with medical requirements or members of the security community while preventing misuse for criminal activities. It is expected to enhance police investigative capabilities and strengthen national security efforts.
It was disclosed that the secure and user-friendly digital platform for the application of the permit, www.possap.gov.ng, was approved by the Inspector General of Police (IGP), Mr Kayode Egbetokun.
According to the statement, this new system is for a clear, transparent, and accountable process for regularizing factory-fitted tinted glass on vehicles.
With modern automobiles increasingly manufactured with tinted windows, the police said it has become essential to provide a standardized system that accommodates legitimate use while ensuring public safety.
Tinted vehicles have often been exploited for criminal purposes, including kidnapping, armed robbery, one-chance scams, and other forms of banditry.
Their use hampers police visibility and impedes effective law enforcement, thereby contributing to public insecurity.
To ensure a smooth transition, a 30-day grace period has been approved, effective from May 1, 2025, within which motorists are expected to comply. Enforcement will commence at the end of this period.
Mr Egbetokun warned that officers found engaging in unprofessional conduct such as extortion or harassment in the course of enforcement would be decisively dealt with in accordance with extant disciplinary procedures.
Vehicle owners with tinted glasses have been advised to process their permits online, with identity verification integrated through the National Identification Number (NIN) and Tax Identification Number (TIN), alongside biometric capture and background checks.
The system also features QR-coded digital permits, with a streamlined processing timeline of 72 hours.
The IGP reiterated the agency’s commitment to a technologically driven and citizen-focused policing strategy. He urges the public to embrace the initiative in the interest of safer roads, enhanced public trust, and a more secure Nigeria.
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InfraCredit Backs Craneburg N32.5bn Infrastructure Bond for Ekiti Roads

By Adedapo Adesanya
Craneburg EKSG Motorway Company Plc, in collaboration with InfraCredit, has officially signed the final documents for its N32.5 billion 20-Year 22 per cent Fixed Rate Senior Guaranteed Infrastructure Bond issuance.
The signing ceremony, which took place in Lagos, had representatives from guarantor, the issuing houses, legal advisers, and capital market operators in attendance.
The proceeds from this successful issuance will be used to finance the Phase 1 construction of a 17.84km dual carriageway toll road in Ekiti State.
This project forms part of a broader 68km road network designed to unlock intra-state mobility, enhance logistics, and attract private capital into sub-national infrastructure delivery.
The purpose of funding and constructing, as well as the operation and maintenance of the 68km ring road in Ado Ekiti, Ekiti State is under a design, build, finance, operate, maintain and transfer (DBFOM) concession 20-year arrangement.
Commenting on the development, the Chairman of Chairman of Craneburg Construction Company, Mr Femi Edun, said: “We are honoured by the trust placed in us by the Ekiti State Government to deliver this transformative project under the innovative Annuity PPP Product.
“The product framework has been instrumental in mobilising long-term domestic capital that enables us to sustainably finance and execute this much-needed infrastructure project.
“As a company recognised for quality and timely delivery, we are committed to ensuring that this project sets a new benchmark for infrastructure development at the sub-national level.”
Also commenting, Managing Director of the lead issuing house, Anchoria Advisory Services Limited, Mr Sam Chidoka, said: “This transaction is a testament to what’s possible when innovation, strong governance, and private sector capital come together in service of national development.
“We are proud to have led the structuring and execution of this landmark bond issuance, the first of its kind in Nigeria’s debt capital market and proud of what it represents, a scalable blueprint for funding an infrastructure project through the capital markets.”
Anchoria Advisory Services Limited served as lead issuing house and bookrunner, supported by Coronation Merchant Bank, Greenwich Merchant Bank, and Iron Global Markets Limited as joint issuing houses.
According to a statement, the firm said the landmark transaction sets a replicable precedent for infrastructure financing across Nigeria, paving the way for future PPP-backed issuances where the private sector leads execution, risk sharing is institutionalized, and development is market-driven.
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Lagos to Clampdown on Rickety Vehicles

By Adedapo Adesanya
The Lagos State government has expressed concerns over the growing number of rickety vehicles operating on Lagos roads, saying they pose a risk to commuters and road users in the cosmopolitan city.
The government, through Lagos State Vehicle Inspection Service (VIS), has advised Lagosians to be vigilant and avoid boarding rickety public vehicles known as danfos.
The Director of the agency, Mr Akin-George Fashola, said reassured members of the public that impounded rickety vehicles would not be released for further use.
In a statement via the Lagos Ministry of Transportation on X, formerly Twitter, Mr Fashola said the vehicles, including one he personally apprehended, were in extremely poor condition, describing them as poorly maintained, with outdated parts and lacking essential safety features essentially ticking time bombs on Lagos roads.
He emphasized that rickety vehicles have been linked to numerous accidents in the state, often resulting in loss of lives, injuries, and property damage.
Further highlighting the dangers, Mr Fashola pointed out several critical issues common among the seized vehicles: unstable tires due to expiration, potential brake failure caused by makeshift repairs, and disjointed body compartments weakened by rust all of which render them unfit for commercial use.
He noted that many of these vehicles operate mostly at night, further increasing the risks to unsuspecting passengers, urging the public to prioritize safety by avoiding any vehicle that appears to be in a deteriorated condition.
He added that the VIS is working closely with relevant stakeholders, including road transport unions, to ensure Lagos roads remain safe for all users, encouraging members of the public to report any sightings or experiences with rickety vehicles via the VIS complaint platforms at [email protected], or through the Ministry of Transportation hotlines: 09020004000 and 09020009000.
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