Nigerian Government Targets 25,000 Jobs, $2.5bn Investment in Four Years with CNG Initiative
Programme Director of the Presidential Compressed Natural gas Initiative (PCNGI), Michael Oluwagbemi, said in a workshop in Ibadan on Friday that the federal government aims to create more than 25,000 jobs and attract $2.5 billion in investments over the next four years.
He stressed that President Bola Ahmed Tinubu had given PCNGI the mandate to convert one million vehicles by 2027.
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“The President has said we need to convert one million vehicles by 2027. We need 1,000 conversion shops and over 3,000 filing stations just like this. You can imagine the level of investment required for this.
“To sustain one million vehicle conversions by 2027, we need 25,000 technicians. So, the job creation potential is an opportunity for job creation in addition to our gross domestic product, $2.5 billion worth of investment to be mobilised in the next four years and, of course, more than $25 billion added to our GDP.”
Recall that President Tinubu approved the Presidential Compressed Natural Gas initiative to achieve 11,500 new CNG-enabled vehicles and 55,000 CNG conversion kits for existing vehicles that depend on Premium Motor Spirit.
