We have attracted over $2bn investments in CNG — FG

The federal government of Nigeria has revealed that over two billion dollars in investments have been attracted into the Compressed Natural Gas (CNG) value chain.

The Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo made this known noting that the investments are a signal of growing investor confidence in Nigeria’s domestic gas transition.

In a statement on Thursday, Ekpo noted that the investment influx is part of the administration’s aggressive push to position gas as the primary, affordable alternative to petrol following the removal of the fuel subsidy.

According to Ekpo, the capital secured is actively funding critical infrastructure, conversion centers, and distribution networks nationwide, shifting CNG from an aspirational energy source into an active driver of economic relief.

“More than $2 billion has already been secured in investments for CNG infrastructure and the wider value chain, reflecting increasing confidence in the potential of our abundant natural gas resources to provide a more affordable energy option for Nigerians,” Ekpo stated.

The Minister noted that while subsidy removal initially triggered sharp rises in transport and food inflation, the rollout of CNG provides a long-term buffer by dramatically slashing operating costs for commercial operators and private motorists alike.

“CNG is no longer simply an alternative for the future. It is already helping transport operators, businesses, and vehicle owners reduce fuel costs and improve the sustainability of their operations, with the potential to translate these savings into lower fares and logistics costs for Nigerians,” Ekpo said.

To accelerate the transition, he revealed that President Bola Ahmed Tinubu recently directed the establishment of an additional 500 CNG refueling stations, expanding the planned national network to 1,000 retail points across the federation.

Ekpo commended the President’s directive and lauded several state governors who have already co-invested in conversion centers and mass transit deployment.

He urged Nigerian state governments to partner with the initiative to protect commuters from volatile transport fares.

Ekpo further reaffirmed that the Ministry of State for Petroleum Resources (Gas) will continue collaborating closely with key entities, including the Presidential CNG Initiative (PCNGi), the Midstream and Downstream Gas Infrastructure Fund (MDGIF) and private logistics firms, to build a resilient, accessible gas ecosystem that permanently reduces the cost of living.