The Federal Government has sealed a private investment worth $1 billion for the expansion of Nigeria’s Compressed Natural Gas (CNG) sector.

The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, disclosed this on Thursday during the launch of the Nigerian Gas Vehicle Monitoring System (NGVMS).

Ekpo said this is a key step in the federal government’s drive to promote safety, accountability, and environmental integrity in the country’s CNG sector.

Speaking further at the pilot launch held at an NNPC Retail Station in Abuja, Ekpo explained that “With the NGVMS, only vehicles converted at accredited facilities with certified kits can access CNG at approved stations.”

According to the minister, the system will provide end-to-end oversight, from conversion to refuelling, guaranteeing the safety of citizens and the integrity of Nigeria’s growing CNG ecosystem, describing the initiative “as a milestone under President Bola Tinubu’s Renewed Hope Agenda and the Decade of Gas Initiative, aimed at making CNG the affordable and sustainable energy choice for Nigerians.”

Chairman/CEO of the Presidential Initiative on CNG (PiCNG), Ismaeel Ahmed, also spoke at the event, saying that over $1 billion in private sector investments has flowed into Nigeria’s CNG value chain.