President Bola Ahmed Tinubu’s push for alternative energy solutions has brought over $1 billion in foreign direct investments (FDI) to the Oil and Gas Free Zone Authority (OGFZA) in the past 17 months, according to the agency’s Chief Executive Officer, Bamanga Jada.
Speaking at a sensitization program on compressed natural gas (CNG) infrastructure development held at the Onne Oil and Gas Free Zone in Port Harcourt, Jada highlighted the administration’s focus on clean energy. He explained that the Liberty Oil and Gas Free Zone in Akwa Ibom State and the Orashi Energy Free Zone in Imo State have been specifically designated for gas processing and renewable energy projects.
The event, themed “Driving Sustainable Transportation: Accelerating CNG Adoption,” was organized by Portland Gas in partnership with OGFZA.
The Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, represented by a director in the ministry, Theresa Ogolo, described the CNG initiative as one of President Tinubu’s boldest reforms. She noted that it aligns with the government’s energy transition strategy to diversify energy sources, reduce carbon emissions, and harness Nigeria’s abundant natural gas reserves.
“The adoption of CNG offers a cleaner, cheaper, and more sustainable energy solution, particularly for the transportation and logistics sectors that underpin industrial activity,” Oduwole said.
Program Director of Pi-CNG, Michael Oluwagbemi, praised the administration for its aggressive drive toward CNG adoption, stating that the initiative had already attracted $459 million. He noted that the number of conversion centers nationwide had grown from seven across five states to 153 centers in 23 states.
Similarly, Managing Director of Portland Gas Limited, Folajimi Mohammed, commended the Federal Government for subsidizing CNG conversion kits and providing financial support through schemes such as the Credit Course Scheme.
Jada reiterated the importance of transitioning to CNG as a sustainable energy source, emphasizing its role in reducing energy costs and fostering industrialization. He remarked, “Nigeria, as Africa’s largest natural gas producer, must lead in sustainable energy adoption to meet rising energy demands while addressing environmental concerns.”
The initiative, he added, reflects growing investor confidence in Nigeria’s reform agenda and sets the stage for cleaner and more efficient energy use across the country.