With over $400 million attracted for investment in 86 and 65 new daughters and mother stations under construction, Nigeria refueling capacity has risen from 20 to 56.
According to NMDPRA Chief Executive, Engr. Ahmed Farouk, the collaborative efforts of PCNGI, NMDPRA and SON led to the development of standards and the Nigeria Gas Vehicle Monitoring System to ensure safety which is already in pilot phase, expected to be launched in 2025.
Speaking at the just concluded Inaugural Meeting of the Petroleum Industry Stakeholders Consultative Forum held in Abuja, Farouk said the agencies would continue to collaborate with PCNGI to ensure deployment of CNG infrastructure in major cities of Lagos and Abuja, up to 100,000 conversions while collaborating with states to develop NGVs in other areas.
He noted that the development of CNG as a viable alternative to Petrol has been incentivized adding that MDPRA has supported the PCNGI which has over the last year, helped stimulate 186 new conversion centers, increasing Nigeria’s conversion capacity by over 2,500%.
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“These conversions alongside new buys have raised Nigeria Nigerian Gas Vehicles NGV population to an estimated 30-50,000 vehicles and trucks and it continues to grow daily”, he stated.
According to him,the agency has taken necessary steps to ensure the evolution of an open, competitive and contestable market in the product supply chain.
“The full price deregulation of the petroleum products market has enabled the creation of a level playing field which fosters healthy competition and enables investment opportunities.
In the same vein, the reform has occasioned adequate supply and distribution of petroleum products in the country, with consumers enjoying competitive prices and value-added services.
“The National Energy security has been further enhanced with multiple sources of supply. For the first time in many years, the country witnessed the end-of-year festivities and the beginning of a new year without any supply disruption or product shortages that may have led to fuel queues”, he stated.
The Petroleum Industry Stakeholders Consultative Forum was coordinated by the Hon. Minister of State (Oil), Sen. Heineken Lokpobiri.
