12 June 2013, Lagos – Managing Director of the Nigeria Gas Company, NGC, Engineer Seidu Mohammed, has invited investors to exploit the potentials offered by the Compressed Natural Gas, CNG, scheme, aimed at converting vehicles to dual powering system, using petrol and natural gas.
Mohammed made the call at the inauguration of Nigeria’s first CNG conversion centre belonging to Dangote Group subsidiary in Lagos.
He stressed that there was high business prospect for potential investors in the CNG business, saying opportunity existed in the setting up of cylinder manufacturing plants and the manufacturing of conversion kits for the compressed gas.
According to him, these would in the long run enable more people to have access to compressed natural gas in the country.
He said the development would not only create income earning avenue for investors but would spur more investment in the nation’s oil and gas sector.
Mohammed stated that there is no reason why more cars and trucks should not run on compressed natural gas in Nigeria because the country has more than enough gas to go round for domestic and commercial uses.
The NGC managing director maintained that with more investment and patronage for compressed natural gas, liquid fuel import for automotive use will diminish.
Nigeria, he said, will also be opportune to export liquid fuel for more revenue. The NGC boss also said compressed natural gas will crash the cost of goods due to diversion from the costly liquid fuel.