{"id":234,"date":"2024-06-08T13:46:56","date_gmt":"2024-06-08T13:46:56","guid":{"rendered":"https:\/\/dailyechoes.ng\/?p=234"},"modified":"2024-06-08T13:46:56","modified_gmt":"2024-06-08T13:46:56","slug":"nigeria-to-realize-over-3bn-investment-from-cng-vehicles-conversion-initiative-zayyanu","status":"publish","type":"post","link":"https:\/\/dailyechoes.ng\/index.php\/2024\/06\/08\/nigeria-to-realize-over-3bn-investment-from-cng-vehicles-conversion-initiative-zayyanu\/","title":{"rendered":"Nigeria to realize over $3bn investment from CNG vehicles\u2019 conversion initiative \u2013 Zayyanu"},"content":{"rendered":"<div dir=\"auto\">\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">By Ignatius Okorocha<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Amb Ella has\u00a0 emphasized the hidden treasure in extensive investment opportunities in Nigeria\u2019s natural gas industry.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Amb Ella who was speaking at a stakeholders meeting in Abuja recently,\u00a0 noted that the President\u2019s policy on gas infrastructure development aligns with global best practices for cleaner energy use and environmental sustainability, according to a statement from his media aide, John Ameh.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">During the meeting, Engr Kamoru Busari, the Director of the Upstream Department at the ministry, reiterated the government\u2019s commitment to creating an enabling environment for investments.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Haikuo Weng, the Managing Director of Wen Advisor, stated that Silicon Valley Nigeria Economic Developments SV-NED Inc USA\/SV-NED Energy Ltd and his team was in Nigeria to explore potential investment areas in the CNG-powered vehicles project. He highlighted the necessity of assessing whether local buses in Nigeria currently use liquefied natural gas (LNG) or CNG to develop an effective CNG gap pump station.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">In a previous letter of collaboration titled \u201cGreen Transportation Solutions,\u201d Weng pledged to introduce competitively priced CNG buses in Nigeria. He also expressed his intention to assess the potential for establishing natural gas refueling stations to support Nigeria\u2019s energy transition in the transportation sector.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">President Tinubu\u2019s directive is part of Nigeria\u2019s broader effort to transition to cleaner energy. CNG-powered vehicles are known for producing lower emissions, which contributes to environmental protection. The policy also aims to provide a more affordable energy alternative for Nigerian consumers<\/div>\n<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u00a0This is even as Chinese company is set\u00a0 to invest in Nigeria&#8217;s CNG powered vehicles scheme.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">In a significant development for Nigeria\u2019s clean energy initiatives, a Chinese company and their Nigerian Partner Silicon Valley Nigeria Economic Developments SV-NED Inc USA\/ SV-NED Energy Ltd has expressed interest in partnering with the Nigerian government to invest in Compressed Natural Gas (CNG)-powered vehicles.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">This move comes in response to President Bola Tinubu\u2019s directive mandating the procurement of CNG-powered vehicles by all government institutions.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Meanwhile,the Nigerian federal government has highlighted the country\u2019s substantial business potential for investments in CNG-powered vehicles.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">To advance this directive, the Permanent Secretary of the Federal Ministry of Petroleum, Amb Nicholas Agbo Ella, held discussions with officials from the Chinese firm Wen Advisor and their partner SV-NED Energy Ltd in Abuja.<\/div>\n<div dir=\"auto\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Ignatius Okorocha Amb Ella has\u00a0 emphasized the hidden treasure in extensive investment opportunities in Nigeria\u2019s natural gas industry. Amb Ella who was speaking at a stakeholders meeting in Abuja recently,\u00a0 noted that the President\u2019s policy on gas infrastructure development aligns with global best practices for cleaner energy use and environmental sustainability, according to a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":82,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[145,90,91],"class_list":["post-234","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-economy","tag-bilateral-agreement","tag-manufacturing","tag-vehicle"],"_links":{"self":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/234","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/comments?post=234"}],"version-history":[{"count":1,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/234\/revisions"}],"predecessor-version":[{"id":235,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/234\/revisions\/235"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/media\/82"}],"wp:attachment":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/media?parent=234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/categories?post=234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/tags?post=234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}