The Federal Government has reiterated its commitment to ensuring there is sufficient gas in the country, saying it has put in place measures that would drive the compressed natural gas (CNG) project.
Special Adviser on Energy to President Bola Tinubu, Olu Verheijen, said this during the ground-breaking ceremony of Portland Gas in Lagos. Represented by Eriye Onagoruwa, Verheijen said the signing dovetailed into the recently launched Presidential Compressed Natural Gas Initiative (P-CNGI), as part of the commitment to change the transportation landscape, reduce energy costs, stimulate economic growth and foster a cleaner environment by reducing carbon emissions and promote energy security through domestic natural gas resources.
She said the Federal Government through the P-CNGI has joined forces with Portland Gas to forge a path towards a more environmentally conscious- and economically viable energy landscape.
She said Portland Gas Green Park was undoubtedly a cleaner and more efficient energy source. She said: “The park will create new jobs, diversify our economy and enhance our energy independence. This will in turn enable us to reduce our reliance on imported fuels, stabilise energy prices and boost our economic growth. It will demonstrate to the world that Nigeria is committed to tackling climate change and building a cleaner, more resilient future.”
Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Ahmed Farouk, also said the Federal Government has approved Portland Gas to begin the construction of CNG conversion sites.
He said the move underscored the government’s resolve to reduce heavy carbon footprints, and harmful emissions and mitigate the impact of traditional fossil fuels on the environment.
Represented by Regional Coordinator, South-West Region, NMDPRA, Lukman Cardoso, Farouk, reiterated that the NMDPRA has also been driving penetration of cleaner fuels through various initiatives, aimed at deepening the utilisation of CNG, LPG and other cleaner fuels for domestic and industrial purposes.
He added that siting the facility in Ojota, Lagos, due to the increasing population, was very strategic, as it was positioned to make important cost-effective alternative fuels readily available for both domestic and industrial users.
Founder, Portland Gas, Folajimi Mohammed, said following the removal of fuel subsidies and the full regulation of the petroleum products market, which significantly increased the price of fuel, there is a need to consider alternative sources of fuel, primarily CNG and EV for vehicles. He said the projects were for eco-green CNG generators, auto conversion to CNG from petrol or diesel and training centres.
“With the removal of fuel subsidy, pricing for fuel is more affordable and alleviates suffering, which ranges from N270 to N300 compared to the fuel of N600 or diesel of N1,000 and it saves about 76 per cent of savings. We would be achieving a reduction in greenhouse gas emission, less pollution and extremely safe,” he said.
Source: The Guradian