The Federal Government has said that about $2.5 billion would be saved yearly from every one million vehicle converted into Compressed Natural Gas-powered cars.

The Programme Director, Presidential Initiative on Compressed Natural Gas, Michael Oluwagbemi, disclosed this during the South-South/South-East Stakeholders Engagement Meeting on Presidential Initiative on CNG held in Port Harcourt, Rivers State on Friday.

Oluwagbemi explained that the initiative has the capacity to reduce the current inflation bedevilling the nation’s economy

He said the push for CNG by the Federal Government is germane for the economic development of the nation and to end the era of pollution and environmental degradation.

He noted that while the country has abundant, it lacked what it takes to utilise, pointing out that CNG is cleaner, cheaper and would reduce the cost of transportation.

Oluwagbemi stated, “The initiative of the government is critical to our national development and to the well-being of the people. Rivers State is the heart of the oil and gas region. Over the last five to six decades, these resources have continued to waste.

Nigeria is the second largest waste of oil and gas. We exploit it and waste it then continue to suffer poverty. The president has set us on natural gas features and set up the nation on the path of growth. The use of gas ensures we have energy savings, mind you the price of Natural gas is controlled by the government.

What the president is asking is to do more with the blessings God has given us. If we are able to move three million vehicles in the next three years we are going to end the era of environmental degradation.”

He noted that while the country has abundant, it lacked what it takes to utilise, pointing out that CNG is cleaner, cheaper and would reduce the cost of transportation.

Oluwagbemi stated, “The initiative of the government is critical to our national development and to the well-being of the people. Rivers State is the heart of the oil and gas region. Over the last five to six decades, these resources have continued to waste.

Nigeria is the second largest waste of oil and gas. We exploit it and waste it then continue to suffer poverty. The president has set us on natural gas features and set up the nation on the path of growth. The use of gas ensures we have energy savings, mind you the price of Natural gas is controlled by the government.

What the president is asking is to do more with the blessings God has given us. If we are able to move three million vehicles in the next three years we are going to end the era of environmental degradation.”

Oluwagbemi averred that the nation stands to benefit much with the energy transition, insisting that CNG is more reliable for the transportation sector of the country.

Nigeria stands to gain a lot from the energy transition in the transportation sector. First and foremost, CNG is our own resource. Natural gas is everywhere in Nigeria. It is a much more reliable source of fuel in the transportation sector. No longer will there be crises out of Nigeria impact the economic livelihood of the country?

It has the capacity of reducing inflation. It is cheaper. You can realize between 40 per cent to 50 per cent savings from patrol. This is good for Nigeria and it is safer. It is 18 times safer than petrol and diesel. It is cleaner and safer for the environment,” he added,

The Programme Director further said, “We will stop subsidising poverty importing unemployment and exporting jobs. We will be using our own natural gas to drive our transportation sector. To a common man, this translates to a reduction in the cost of transportation. Our job is to give incentives to the CNG vehicle. To ensure we close the financing gap that exists.

“There is enough demand for natural gas all we need to do now is to open stations, pipelines and conversation centres. When we convert our vehicles, 1,000,000 vehicles they will convert, it saves the country about $2.5 billion a year.

This will also save us 6,000,000 litres a day. These are monies that we can spend on hospitals on roads.”

Also speaking, the Chief Executive Officer of FEMADEC Energy Limited, Fola Akinola, disclosed that modalities have been concluded to open two CNG refuelling stations and two vehicle conversion parks in Port Harcourt

Akinola said, “CNG is an old technology. We want to tell you that you have the opportunity to convert your vehicle from fuel to CNG. The stations will be launched in Port Harcourt and we are launching a refueling unit alongside. Rivers State is going to have a micro refuelling unit at Stadium Road and in GRA.

“For those that want to invest in CNG refuelling units it is available. Even those who have fuel State facilities can as well invest in this.”

Meanwhile, the Abia State Government said it has already diverted its N2bn subsidy palliative from the Federal Government for investment in CNG.

The Abia State Commissioner for Energy and Environment, Prof. Joel Ogbonna, informed the Presidential Initiative on the CNG committee that his state has set all grounds ready to key into the presidential directive, saying the state was ready to kick off.

He stated, “When Governor Alex Otti came, he declared a State of emergency on the environment. The governor has set aside N2 billion for the fuel subsidy for CNG. Abia State has set aside the Abia State Polytechnic for training in CNG.

“We have also developed an industrial park to be able to produce gas. We also want to pass a bill so that people will be told what to do to ensure safety so that there will not be hazards. We are ready to take off with the CNG.”

Akinola said, “CNG is an old technology. We want to tell you that you have the opportunity to convert your vehicle from fuel to CNG. The stations will be launched in Port Harcourt and we are launching a refueling unit alongside. Rivers State is going to have a micro refuelling unit at Stadium Road and in GRA.

“For those that want to invest in CNG refuelling units it is available. Even those who have fuel State facilities can as well invest in this.”

Meanwhile, the Abia State Government said it has already diverted its N2bn subsidy palliative from the Federal Government for investment in CNG.

The Abia State Commissioner for Energy and Environment, Prof. Joel Ogbonna, informed the Presidential Initiative on the CNG committee that his state has set all grounds ready to key into the presidential directive, saying the state was ready to kick off.

He stated, “When Governor Alex Otti came, he declared a State of emergency on the environment. The governor has set aside N2 billion for the fuel subsidy for CNG. Abia State has set aside the Abia State Polytechnic for training in CNG.

“We have also developed an industrial park to be able to produce gas. We also want to pass a bill so that people will be told what to do to ensure safety so that there will not be hazards. We are ready to take off with the CNG.”

Atiku Abubakar, the 2023 presidential candidate of the Peoples Democratic Party (PDP), has expressed his willingness to support Peter Obi if the party decides to select him as the candidate for the 2027 presidential elections.

In a recent interview with BBC Hausa Service, Atiku emphasized his commitment to abiding by the party’s decision should it favor the South-East region.

“I have said repeatedly, and I even mentioned it before the 2023 general elections, that if the PDP decides to zone the presidential ticket to the South or specifically the South-East, I won’t contest it. As long as it’s the decision of the party, I will abide by it. I contested the 2023 presidential ticket because it was open to all members of the party. If the party decides that it’s the turn of the South-East and Peter Obi is chosen, I won’t hesitate to support him,” Atiku stated.

He further revealed that a merger between the PDP and the Labour Party (LP) is a possibility, hinting at strategic alliances ahead of the 2027 elections. Atiku noted that members of the party would ultimately decide his role in the next election cycle.

Atiku also touched on his recent meeting with Peter Obi, which has sparked speculation about a potential alliance. He described the meeting as a friendly and routine interaction among opposition leaders, emphasizing its importance for Nigeria’s democratic health.

“It’s just a normal friendly meeting that we often have, particularly among us in the opposition parties. Such meetings are healthy for Nigeria’s democracy and in the country’s interest,” he remarked.

When asked about the prospects of a merger between the PDP and the Labour Party, Atiku was optimistic. “Yes, it’s very much possible. We can merge to achieve a common goal. So, it’s possible, and nothing can stop it if we wish to achieve that,” he said.

Addressing concerns about potential conflicts over the choice of a presidential candidate, Atiku dismissed such worries, assuring that the decision would not hinder merger discussions. “That’s not true. That challenge will not arise. I can tell you that the choice of who will fly the flag of the party won’t be an issue,” he affirmed.

Abuja-based businesswoman and mother of five, Ramat Mercy Mba, has been sentenced to various prison terms for her role in an employment scam and for forging the signature of the late Abba Kyari, former Chief of Staff to ex-President Muhammadu Buhari.

Mba was convicted on charges brought against her by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and was sentenced by the Federal Capital Territory High Court sitting in Gwagwalada. The presiding judge, Justice Ibrahim Mohammad, had deferred sentencing last week, directing that Mba be remanded in Suleja Correctional Centre until Thursday’s sentencing.

The ICPC had arraigned Mba in June 2022 on a five-count charge including cheating, fraud, and forgery, in violation of Section 13 of the Corrupt Practices and Other Related Offences Act 2000, and Sections 320(b) and 366 of the Penal Code Cap 89 laws of Northern Nigeria.

During the trial, the ICPC’s prosecutor, Mr. Hamza Sani, presented evidence detailing how Mba committed the offences in 2020. She collected a total of N4.5 million from several job seekers, falsely promising to secure employment for them with the ICPC and the National Air Space Research and Development Agency (NASRDA).