Ade Iyamoye
In a strategic move to leverage Nigeria’s abundant natural gas resources for national development, the Presidential Compressed Natural Gas Initiative (PCNGi), has signed a Memorandum of Agreement (MOA), with the Niger Delta Development Commission (NDDC).
The event took place at the NDDC headquarters in Port Harcourt yesterday.
Speaking during the signing ceremony, Oluwagbemi Michael, Project Director and CEO of PCNGi, underscored the initiative’s alignment with President Bola Ahmed Tinubu’s reform agenda.
“This partnership reflects Mr. President’s vision to harness our vast gas reserves as a source of wealth and economic growth,” he noted.
Michael recalled the removal of the fuel subsidy as a critical reform step, emphasizing that Nigeria had been losing valuable revenue to subsidized fuel consumption while struggling with underperformance in revenue collection.
He stated, “By utilizing our gas resources, we are not only addressing energy security but also fostering economic empowerment for the people of the Niger Delta and beyond.”
The collaboration aims to convert Nigeria’s vast gas potential into tangible benefits, including affordable energy alternatives, job creation, and infrastructure development in the oil-rich region.
The partnership marks a pivotal step in the Federal Government’s drive to transition Nigeria towards cleaner, more sustainable energy, with PCNGi already spearheading vehicle conversions to compressed natural gas and establishing conversion centers nationwide.
The agreement promises economic revitalization and environmental benefits, signaling a brighter, greener future for the Niger Delta and Nigeria at large.
