Nigerian petroleum agency signs CNG agreement with energy firm

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Tuesday reported it has signed an arrangement with Femadec Electricity on the provision of Compressed Purely natural Gas (CNG).

The company disclosed this in a sequence of tweets by way of its confirmed formal X cope with on Tuesday.

“The Midstream & Downstream Gas Infrastructure Fund (MDGIF) of the Authority signed a Memorandum of Knowledge (MoU) with Femadec Energy on the provision of Compressed Normal Gasoline (CNG).

“The Presidential Initiative on Compressed Normal Gasoline (PICNG) which is the driver for the Federal Government’s “Decade of Gas” initiative was also present at the celebration.

“The NMDPRA grants approval to build (ATC) 500MT LPG Depot in the Federal Funds Territory to Novertek Electricity Constrained,” the company explained.

In August, President Bola Tinubu accredited the institution of the Presidential Compressed All-natural Fuel Initiative (PCNGI).

The Unique Adviser to the President on Media and Publicity, Ajuri Ngelale, in a statement mentioned the establishment of the initiative was in furtherance of his commitment to easing the effects of gas subsidy removal on Nigerians by lessening power costs.

This transformative initiative, according to Mr Ngelale, is poised to revolutionise the transportation landscape in the region, targeting in excess of 11,500 new Compressed All-natural Fuel (CNG)-enabled autos and 55,000 CNG conversion kits for existing Quality Motor Spirit (PMS)-dependent vehicles.

“While concurrently bolstering in-nation production, neighborhood assembly and expansive position creation in line with the presidential directive,” the spokesperson observed.

“The landmark initiative, which contains of a Comprehensive Adoption Approach, will incorporate the adhering to: Empowering Workshops Programme w/ Nationwide Network of Workshops, Regional Assembly and Job Generation as crucial details of emphasis with an preliminary focus on mass transit methods and scholar hubs in buy to significantly cut down transit prices for the general populace in the speedy time period.”