In a significant development for Nigeria’s clean energy initiatives, a Chinese company and their Nigerian Partner Silicon Valley Nigeria Economic Developments SV-NED Inc USA/ SV-NED Energy Ltd has expressed interest in partnering with the Nigerian government to invest in Compressed Natural Gas (CNG)-powered vehicles.
This move comes in response to President Bola Tinubu’s directive mandating the procurement of CNG-powered vehicles by all government institutions.
The federal government highlighted the country’s substantial business potential for investments in CNG-powered vehicles.
To advance this directive, the Permanent Secretary of the Federal Ministry of Petroleum, Amb Nicholas Agbo Ella, held discussions with officials from the Chinese firm Wen Advisor and their partner SV-NED Energy Ltd in Abuja.
Amb Ella emphasized the extensive investment opportunities in Nigeria’s natural gas industry.
He noted that the President’s policy on gas infrastructure development aligns with global best practices for cleaner energy use and environmental sustainability, according to a statement from his media aide, John Ameh.
During the meeting, Engr Kamoru Busari, the Director of the Upstream Department at the ministry, reiterated the government’s commitment to creating an enabling environment for investments.
Haikuo Weng, the Managing Director of Wen Advisor, stated that Silicon Valley Nigeria Economic Developments SV-NED Inc USA/SV-NED Energy Ltd and his team was in Nigeria to explore potential investment areas in the CNG-powered vehicles project. He highlighted the necessity of assessing whether local buses in Nigeria currently use liquefied natural gas (LNG) or CNG to develop an effective CNG gap pump station.
In a previous letter of collaboration titled “Green Transportation Solutions,” Weng pledged to introduce competitively priced CNG buses in Nigeria. He also expressed his intention to assess the potential for establishing natural gas refueling stations to support Nigeria’s energy transition in the transportation sector.
President Tinubu’s directive is part of Nigeria’s broader effort to transition to cleaner energy. CNG-powered vehicles are known for producing lower emissions, which contributes to environmental protection. The policy also aims to provide a more affordable energy alternative for Nigerian consumers
https://blueprint.ng/chinese-company-to-invest-in-nigerias-cng-powered-vehicles-scheme/
