CNG attracts $491m investment in one year-FG

The federal government today announced that the Automobile Compressed Natural Gas (AutoCNG) initiative has attracted over $491 million in investments within the past year.

The Programme Director and CEO of the Presidential CNG Initiative, Engr. Michael Oluwagbemi, disclosed this while briefing State House correspondents at the Presidential Villa in Abuja.

Engr. Oluwagbemi stated that the initiative has created over 9,000 direct jobs and approximately 75,000 indirect jobs.

He addressed recent safety concerns involving CNG vehicles, particularly an incident in Benin, Edo State, attributing it to sabotage.

He clarified that the safety incident in Benin last year was caused by economic saboteurs involved in the illegal fabrication of CNG cylinders, who have since been arrested.