How Nigeria’s Gas Revolution is Quietly Changing Everything

By Achimi Muktar

In a move that’s shaking up Nigeria’s energy and transportation sectors, the Presidential Compressed Natural Gas Initiative (PCNGI) has pulled in a jaw-dropping $491 million in private sector investments within its first year — and it's only getting started.

The big reveal came on Monday during a press briefing at the Presidential Villa in Abuja. Project Director and Chief Executive Michael Oluwagbemi described the milestone as a “bold step” towards a cleaner, more sustainable Nigeria.

But it’s not just about the money.

Over 30,000 vehicles have already been converted to run on compressed natural gas (CNG), offering Nigerians a cheaper and greener alternative to petrol and diesel.

“The PCNGI has not only lowered the cost of living for Nigerians but also created real jobs, stimulated industrial growth, and enhanced environmental sustainability,” Oluwagbemi stated.

Launched by President Bola Tinubu on October 1, 2023, the PCNGI is the government’s flagship initiative to accelerate the use of CNG and electric vehicles across the country. The result? A boom in both energy innovation and economic activity.

According to Oluwagbemi, the initiative has already created 9,000 direct jobs and 75,000 indirect jobs, breathing new life into the economy.

One of the biggest drivers of this success is the rapid growth of vehicle conversion centres. From just seven centres at launch, Nigeria now boasts more than 200 conversion hubs across the country, thanks to the Conversion Incentive Programme introduced in August 2024.

And the numbers keep climbing.

More than 10,000 new conversions are expected by the end of this quarter. 22,000 conversion kits have already been deployed, and over 3,000 technicians have been trained to meet the surging demand.

In its next phase, the PCNGI will target public servants through a financing deal with CreditCorp, making it easier for more Nigerians to access vehicle conversions.

With private capital flowing in, public interest rising, and thousands of jobs being created, the PCNGI is fast becoming a cornerstone of Nigeria’s green energy future.