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NUPRC rejects N8.4tr oil theft report, says crude losses down 90%

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has dismissed a report alleging that Nigeria lost N8.41 trillion to oil theft between 2021 and 2025, insisting that crude oil losses have dropped by more than 90 percent over the period.

In a statement signed by Eniola Akinkuotu, Head of Media and Strategic Communications, the commission described the report, published by one of Nigeria’s dailies (not The Guardian) on Wednesday, September 24, 2025, as a misrepresentation of official data.

According to the NUPRC, the figures cited were derived from a flawed methodology and incorrect exchange rate assumptions.

“In the misleading report, an exchange rate of N1,500/$1 is used from 2021 to 2025 to increase the figures and sensationalise actual losses when in actual fact, Nigeria’s exchange rate was less than N430 on the official market and barely N600/$1 on average between 2021 and mid-2023. The N8.41 trillion is therefore inaccurate,” the statement read.

The commission explained that when it released crude loss statistics earlier this month, it was done in the spirit of transparency and in compliance with the Petroleum Industry Act, 2021. It noted that crude oil theft, which stood at 102,900 barrels per day in 2021, had dropped to 9,600 barrels per day in 2025—the lowest since 2009.

“The collaborative efforts between the NUPRC, the Office of the National Security Adviser, the military, operators and other stakeholders, through both kinetic and non-kinetic means, have yielded results. Losses have been reduced by over 90 percent,” the commission stated.

Nigeria’s oil output hits 1.63 mbpd in August
The regulator further pointed to the National Bureau of Statistics’ latest report, which showed a 4.23 percent growth in Nigeria’s economy, attributing the improvement partly to increased oil production. It argued that this performance confirmed steady progress in combating crude theft and restoring output levels.

The NUPRC also maintained that Nigeria has been meeting its OPEC quota due to ongoing industry initiatives, including the Project 1 Million Barrels programme, metering audits, restoration of shut-in strings, increased rig counts, and creation of alternative evacuation mechanisms.

It added that Nigeria now possesses the technical capacity to produce above two million barrels per day and that the commission is working with operators, service providers, rig owners, off-takers, and financiers to expand production within an improved operating environment.

On its dispute with the newspaper, the commission criticised the paper for failing to seek clarification before publication.

“The story also fails the integrity test as no attempt was made by the reporter to get a clarification from the commission in the spirit of fairness and balanced reporting,” the statement said.

The NUPRC called on media organisations to verify statistics with relevant authorities before publishing, stressing that inquiries could be directed to its corporate communications department.

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Dangote Refinery reviving moribund companies in Nigeria — MAN

The Kano-Jigawa branch of the Manufacturers Association of Nigeria (MAN) has lauded Dangote Refinery and Petrochemicals for its role in revitalising struggling companies in the country.

According to the association, the refinery’s intervention through the reduction of diesel prices and the steady availability of petroleum products has provided significant relief to manufacturers grappling with high energy costs.

Speaking on the sideline of the ongoing MAN Annual Products Exhibition, taking place at Sani Abacha SAtadium in Kano, the branch chairman of MAN Kano and Jigawa, Muhammad Bello Isyaku Umar, noted that the measures were already helping “dying companies come back to life” by reducing production expenses, stabilising operations, and sustaining jobs.

The association explained that access to affordable diesel is critical to the survival of many small and medium-scale industries in Nigeria, particularly those outside the national grid or in areas plagued by inconsistent power supply.

MAN reiterated its commitment to partnering with the refinery and other stakeholders to strengthen the manufacturing sector, describing the Dangote Refinery as a game-changer in the country’s quest for industrial sustainability and self-reliance.

Umar said the exhibition, which has Dangote Industries Limited as one of the major sponsors, is bringing together top manufacturers, entrepreneurs, policymakers, and consumers in a showcase of innovation, quality, and resilience in the nation’s economy.

He explained that the refinery would reduce the country’s reliance on imported petroleum products, while supporting local manufacturing.

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FG pledges to sustain incentives as Chevron vows continued investment

The Federal Government has reaffirmed its commitment to maintaining investment-friendly policies in the oil and gas sector, pledging measures to keep Nigeria competitive in the global energy market.

Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, gave the assurance during an inspection of the Escravos Gas-to-Liquids (EGTL) facility operated under the NNPC/Chevron Nigeria Limited joint venture in Delta State.

Lokpobiri said the administration is focused on boosting production through sustained capital inflows, stressing that viable oil blocks should not remain dormant.

“Where you are not ready to develop, it’s better to farm out to partners rather than wait decades,” he said, adding that the government is considering enforcing the “drill or drop” provision in the Petroleum Industry Act (PIA) to ensure optimal asset utilization.

Chevron Nigeria Limited’s General Manager for the joint venture, Segun Kuteyi, said the company is increasing investments to monetise existing resources, describing the minister’s visit as a strong signal of the administration’s seriousness about collaboration.

Also speaking, Chevron Chairman and Managing Director, Jim Schwartz, said government backing and the PIA have been instrumental in sustaining the company’s interest in Nigeria.
“We have a lot of resources we still want to develop here that will enable production growth,” he said.

The visit comes amid ongoing efforts to attract fresh investment into Nigeria’s oil and gas industry, which has faced production challenges in recent years despite its vast reserves.

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Energy Centre applauds Komolafe as NUPRC records N5.21tr revenue in Q1 2025

The Energy Policy Advancement Centre (EPAC) has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for generating N5.21 trillion in the first half of 2025, describing it as a clear demonstration of strategic revenue management in Nigeria’s oil and gas sector.

In a statement signed by its Director-General, Dr. Ibrahim Musa, EPAC said the mid-year performance under the leadership of NUPRC Chief Executive, Gbenga Komolafe, shows what is possible when regulation is matched with foresight, accountability, and determination.

Figures from the commission’s latest report to the Federation Accounts Allocation Committee (FAAC) revealed that the January–June 2025 earnings represent 42.7 per cent of the record N12.2 trillion revenue achieved in the entire 2024 fiscal year. The inflows came from royalties, gas sales, flared gas penalties, and joint venture proceeds.

EPAC noted that NUPRC’s strong showing was achieved despite the volatility of the global oil market and domestic production challenges, adding that the performance strengthens the country’s fiscal position at a time of significant budgetary demands.

“NUPRC has shown that with deliberate strategies and a results-oriented approach, Nigeria can unlock more value from its upstream petroleum sector. This is not just about impressive figures—it is about building the confidence that our institutions can deliver on ambitious national targets,” he said.Newspaper subscription bundles

The report indicated that the commission’s earnings include N1.04 trillion from Nigerian National Petroleum Company Limited (NNPCL) joint venture and production sharing contract royalty receivables, alongside N315.93 billion from Project Gazelle receipts in January and March 2025.

It also highlighted that NNPCL’s JV royalty receivables from October 2022 to June 2025 amounted to N6.60 trillion, underscoring the cumulative effect of delayed remittances from oil companies.

Musa particularly applauded the NUPRC’s debt recovery drive, which yielded \$459,226 from outstanding obligations—part of a cumulative \$1.436 billion owed from crude oil lifting contracts. This recovery, he said, was a product of rigorous reconciliation processes between NNPCL and FAAC, overseen by the Technical Sub-Committee of the Alignment Committee on the Reconciliation of Indebtedness.

For 2025, the Federal Government has tasked the commission with raising N15 trillion to fund national expenditure. EPAC said that while the mid-year figure of N5.21 trillion represents 34.7 per cent of this target, the pace of achievement so far—combined with strategic arrears recovery and potential production boosts—suggests that the goal remains within reach.

Musa stressed that what sets the current performance apart is not only the quantum of revenue but also the discipline with which it is being pursued. He said the commission’s approach to expanding its revenue base while maintaining transparency should serve as a model for other public institutions.

“NUPRC has moved beyond passive regulation to active value generation. This is the kind of institutional energy Nigeria needs—one that does not see targets as threats but as opportunities to innovate and excel,” he said. Newspaper subscription bundles

EPAC urged oil companies and relevant agencies to align with the commission’s momentum by ensuring timely payments, compliance with regulations, and support for upstream investments that can further raise output and earnings.

“We are in an era where every revenue stream matters. With the right cooperation, there is no reason the N15 trillion target cannot be met or even surpassed. The NUPRC has set the tone; it is now up to all stakeholders to match that commitment,” he said.

The Energy Policy Advancement Centre emphasised that the commission’s mid-year achievement should serve as a reminder of the critical role upstream petroleum revenues play in Nigeria’s economic stability, and why sustained reforms in the sector must remain a national priority.

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Gas-centric transition strategy to curb flaring by 2030 – NUPRC

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says its gas-centric transition strategy aims to eliminate routine flaring by 2030 and reduce methane by 60 per cent by 2031.

The commission’s Chief Executive, Gbenga Komolafe, made this known on Wednesday at the ongoing 24th Nigeria Oil and Gas (NOG) Energy Week conference 2025.

In his keynote address at a strategic session titled “Positioning Nigeria’s Upstream Oil and Gas for Energy Security, Sustainability and Economic Resilience,” Komolafe said the strategy would monetise vast gas reserves, creating thousands of green jobs in the process.

He revealed that the strategy was supported by initiatives such as the Decade of Gas, the Nigeria Gas Flare Commercialisation Programme (NGFCP) and the Presidential Compressed Natural Gas (CNG) Initiative.

“Nigeria is building Liquefied Natural Gas (LNG) capacity, deploying floating infrastructure, and leading cross-border pipeline development to fuel not only its own economy, but Africa’s industrial renaissance.
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“Further anchoring this ambition is Nigeria’s Upstream Decarbonisation Framework, which integrates emissions tracking, MRV systems, carbon capture, and climate finance access through carbon markets.

“These aren’t just policies; they are opportunities for investment, innovation, and inclusive growth,” he said.

He recalled that in March 2025, it inaugurated the Decarbonisation and Energy Sustainability Forum and formally declared March 18 as Nigeria’s Upstream Decarbonisation Day.

He said the annual event would serve as a rallying point for stakeholders to track progress, share knowledge, and accelerate climate-aligned development.

“Interestingly, we are enabling emissions reductions to become revenue streams through a new ecosystem of carbon services, including monitoring, consulting, tech deployment, while maintaining high environmental and asset integrity,” Komolafe added.

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Shell pledges support for Nigeria’s ambitions for energy sufficiency

Shell says it will continue to explore opportunities to invest in Nigeria as the country aims to achieve energy abundance.

Speaking at a panel session at the 2025 Nigeria Oil and Gas Conference in Abuja , Managing Director, Shell Nigeria Exploration and Production Company Ltd (SNEPCo) Ronald Adams referred to the expansion of its stake in the Bonga field, the FID on Bonga North and several other projects being considered including Bonga Southwest and HI as Shell’s vote of confidence in the future of Nigeria. But he declined to give specific timing on FIDs including that on HI.

Discussions at the panel session were based on the theme, “Pragmatically Achieving Energy Abundance,” and featured chief executives of oil companies and government functionaries who proposed steps towards achieving energy sufficiency as Nigeria targets net-zero emissions from fossil fuel by 2050.

Ronald said SNEPCo would build on its contributions to energy abundance by becoming more efficient and improve value across the value chain by working closely with the Nigerian Upstream Investment Management Services (NUIMS) and other stakeholders. “There is a requirement for us to push the envelope. We cannot rest on our oars,” he said.

He explained that Nigeria can achieve the ambition of net-zero emissions and at the same time provide cost-effective and efficient energy for a rising population by optimizing investments in hydrocarbon energy sources and quick renewable opportunities.

On the efforts of Shell towards net-zero emissions, the Managing Director said the company’s refreshed Powering Progress strategy aims to accelerate the transition “purposefully and profitably to low-carbon businesses by the early 2030s.”

He added: “It is important that government continues to support these efforts and those of other industry players through the right polices and creation of a conducive environment for businesses to thrive.”

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Nigeria to phase out diesel dependency, cut emissions with hybrid energy — Shettima

Vice President Kashim Shettima has announced that Nigeria will soon phase out its dependence on diesel generators and transition to an integrated hybrid energy system, marking a significant step in the country’s drive to cut carbon emissions and achieve sustainable development.

Speaking at the opening of the Decarbonising Infrastructure in Nigeria Summit (DIN Summit) in Abuja on Wednesday, the Vice President emphasised that climate action is no longer a luxury but a critical economic imperative for Nigeria’s future.

“Nigeria can no longer afford to build yesterday’s infrastructure for tomorrow,” Shettima declared, warning that unless the country aligns its climate ambitions with practical development realities, it risks being left behind by a rapidly changing world.

One of the highlights of the summit was Shettima’s announcement of plans to transform the Onne Port in Rivers State into Nigeria’s first fully green port.

Discussions with private investors are already underway to commit nearly $60 million to electrify the port using an integrated hybrid energy system.

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“This is a strategic leap. Through an integrated hybrid energy system, we will phase out diesel dependency, slash carbon emissions, and provide 24/7 sustainable and affordable power to terminal operators and port users”, the Vice President stated.

According to Shettima, the DIN Summit is a product of months of stakeholder consultations and technical evaluations, driven by the realisation that profitability and sustainability must go hand in hand.

In a statement issued by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, Shettima said, “This summit reflects our belief that the path to net-zero by 2060 must be paved with concrete action, not convenient rhetoric”.

He cited Nigeria’s Energy Transition Plan and Climate Change Act as foundational tools for building a sustainable future, noting that 75% of the country’s greenhouse gas emissions stem from infrastructure-heavy sectors — energy, transport, urban development, and agriculture.

“These sectors are not just carbon-heavy; they form the arteries of our economy,” Shettima said, singling out agriculture, which supports over 70% of rural livelihoods.

“The only way out of the predicted doom is to decarbonise these systems”, he said.

“We are not here to fantasise. We are here to finance, to mobilise, to de-risk, to build. The Nigeria we want cannot be realised on diesel generators and fragile grids. It will not emerge from a model that chokes our lungs while draining our treasury. We must build a Nigeria whose infrastructure heals, rather than harms”, he added firmly.

Shettima further stressed the importance of unlocking climate finance, the summit’s central theme, saying it aligns with the urgent task of decoupling Nigeria’s development trajectory from outdated, carbon-intensive models while ensuring inclusivity.

He called for robust regulatory reforms and cross-sector policy harmonisation, noting the impending launch of a Green Investment Portal to connect capital with climate-smart projects.

“Decarbonisation must not stop at Abuja’s gates. It must reach every local government, every community, every home”, he insisted.

Earlier in the summit, Dr. Nkiruka Maduekwe, Director-General and CEO of the National Council on Climate Change (NCCC), highlighted Nigeria’s vulnerability to climate change despite contributing minimally to global carbon emissions.

“Although Nigeria’s contribution to global emissions is small, we are disproportionately affected due to our geographic location and low adaptive capacity,” Dr. Maduekwe noted.

She identified key transformation areas such as smart agriculture, renewable energy adoption, and improved land management to enhance carbon sequestration.

She also emphasised the need for increased private sector investment in sustainable infrastructure, particularly in overhauling Nigeria’s energy systems and transportation networks.

Also speaking at the event, Musaddiq Mustapha Adamu, Personal Assistant to the President on Sub-national Infrastructure (Office of the Vice President), underscored the federal government’s commitment to supporting state-level innovation in climate adaptation and green growth.

“Today’s summit is not just about emissions. It is about equity, economic survival, and building a future where infrastructure restores hope, uplifts society, and empowers the young, the poor, and the marginalised”, Adamu said.

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Tranos Begins Construction Of 800MW Solar Panel Plant To Boost Nigeria’s Energy Industry

Tranos, an indigenous engineering and manufacturing company, has begun laying the foundation for an 800-megawatt solar photovoltaic (PV) panel manufacturing line, signalling a major advancement in the localisation of renewable energy production in Nigeria.

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The new manufacturing campus measuring about 157,440 square metres will include an 800-megawatt solar photovoltaic (PV) panel manufacturing factory, signalling a major advancement in the localisation of renewable energy manufacturing in Nigeria.

Tranos also plans to move its current factories in Lagos to the new campus and expand their current manufacturing, improving capacity, capabilities and quality. This will address space constraints and position the company to meet growing domestic demand for their products.

Tranos Managing Director, Jude Abalaka, said: “Today’s groundbreaking is more than a construction milestone, it is an investment in Africa’s industrial future. This campus will scale our production, create jobs, and deliver solutions aligned with Nigeria’s energy, industrial and infrastructural ambitions”.

Currently, over 90 per cent of solar PV panels used in Nigeria are imported, which often results in delays and higher costs for solar projects. Tranos, he said, aimed to produce sufficient panels locally to supply the entire Nigerian market, with additional capacity for export, adding that, this localisation is expected to ease supply chain challenges and allow for product customisation suited to local conditions.

The facility, he added, will initially operate one manufacturing line, with the first expected to be operational within 15 to 18 months, producing 400 megawatts annually, even as the full 800-megawatt capacity is targeted for by 2027, contributing significantly to Nigeria’s renewable energy goals.

The expansion is also set to boost employment, with Tranos projecting to increase its workforce from 160 to approximately 400 employees within two years. The project will stimulate the local economy and has already prompted infrastructure improvements, including road repairs to the new site.

Ogun State governor, Dapo Abiodun, who was represented by his Special Adviser on Energy, Jide Onakoya, praised Tranos for its role in Nigeria’s industrialisation and highlighted the state’s recent electricity law reforms aimed at enhancing energy access.

He noted the success of solar-powered street lighting in reducing energy costs by over 30 per cent and emphasised the importance of affordable tariffs and renewable energy solutions for remote communities.

Managing Director, Rural Electrification Agency (REA), Abba Abubakar Aliyu, underscored the government’s commitment to making Nigeria a renewable energy hub in Africa. He highlighted the DARES Programme and the $750 million World Bank funded initiative dedicated towards catalysing private sector investment in renewable energy financing.

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VP Shettima urges Vitol Group to back $25 billion Nigeria-Morocco Gas Pipeline

Vice President Kashim Shettima on Monday met with executives of the Vitol Group at the Presidential Villa in Abuja, where he called on investors to tap into Nigeria’s vast gas sector potential.

He disclosed that the Federal Government is actively advancing the $25 billion Nigeria-Morocco Gas Pipeline project, designed to supply natural gas to Europe.

According to him, the initiative aligns with President Bola Tinubu’s bold economic reforms, which have positioned Nigeria as a key investment hub in the global energy market.

“In the past 25 years, we haven’t had a leader as courageous as President Tinubu—he removed fuel subsidies, unified exchange rates, and initiated tax reforms,” Shettima said in a statement signed by Senior Special Assistant to The President on Media & Communications (Office of the Vice President), Stanley Nkwocha on Monday.

He urged global investors to support Nigeria’s energy transition, describing the gas sector as a model of stability and transparency.

The Vice President said, “I will urge you to key into our nation’s energy transition programme. I want you to utilise your dominance in the Liquefied Natural Gas (LNG) and Associated Petroleum Gas (APG) sub-sectors. The world is changing, and ours is actually a gas and not an oil economy. We have the eighth-largest gas reserve in the world. We really want to harness the potential in the gas sector fundamentally because of the stability and transparency in that arena.

“The Nigeria Liquefied Natural Gas Limited (NLNG) has been largely insulated from government interference. What we are getting from the NLNG is so predictable. This is why we are seriously exploring the option of taking our gas to Europe.”

The Vice President emphasized that the government is seeking not just capital, but also technical expertise for the project.

“We urge you to use your influence, contacts, and goodwill to mobilise resources for this project. It will be a completely transparent management structure. I will urge you to come on board with this project,” VP Shettima said, he told the Vitol delegation.

Vitol Group pledges continuous collaboration with Nigeria
In response, Vitol Group’s Chief Financial Officer, Jeffrey Dellapina, reaffirmed the company’s long-standing commitment to Nigeria.

“We do want to maintain an understanding that Vitol is committed, and we are always available to deploy capital when needed. We want to say that Vitol is committed to this country, and we want to stay in this country and evolve with you,” Dellapina said.

Also speaking, Murtala Baloni, Vitol’s Head of Public Affairs, highlighted the firm’s ongoing collaboration with Nigerian entities. He noted Vitol’s role as a key financier of Project Gazelle—a crude oil-backed forward-sale facility by the NNPC Limited—where it contributed $300 million during the COVID-19 pandemic.

What you should know
In June 2018, Nigeria and Morocco signed three agreements, which includes the Nigeria Morocco Gas Pipeline (NMGP) that will see Nigeria providing gas to countries in the West Africa sub-region that extend to Morocco and Europe

The line will pass through 15 African countries, boosting trade, development, and access to electricity in the region.
In Phase One, it will link Morocco to gas fields near Senegal and Mauritania, and connect Ghana to the Ivory Coast.
Phase Two will link Nigeria to Ghana, while Phase Three will connect the Ivory Coast to Senegal.
Morocco and Nigeria have set up a joint venture to manage the project.
At about 5,660km long, the pipeline is designed to reduce gas flaring in Nigeria and encourage diversification of energy resources in the country, while cutting down poverty through the creation of more job opportunities.

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NNPC Gas Limited set to acquire 5.2 million standard cubic feet per day CNG facility

NNPC Gas Marketing Limited (NGML), a subsidiary of the Nigerian National Petroleum Company Limited (NNPC), is set to acquire a 5.2 million standard cubic feet per day Compressed Natural Gas (CNG) compression and refuelling facility from Gas Network Services Limited (GNSL).

This development, disclosed in a merger and acquisition notice issued by the Federal Competition and Consumer Protection Commission (FCCPC), marks a significant move towards expanding Nigeria’s CNG infrastructure and improving access to cleaner energy alternatives.

GNSL, the current operator of the facility, specializes in providing virtual pipeline solutions by compressing natural gas and delivering it to industrial and commercial customers via mobile tube trailers.

The facility also includes dispensing points for refuelling natural gas vehicles (NGVs), catering primarily to clients outside the reach of traditional pipeline networks.

A boost for the government’s CNG initiative
By acquiring the facility, NGML aims to bolster its role in the marketing and distribution of natural gas across Nigeria.

The transaction is expected to strengthen the CNG market by increasing infrastructure capacity, making CNG more accessible and affordable, particularly for the transport and commercial sectors.
The acquisition aligns closely with the objectives of the Presidential Compressed Natural Gas Initiative (P-CNG Initiative), launched in August 2023.

The Initiative was introduced to cushion the impact of fuel subsidy removal and reduce energy costs nationwide by promoting the adoption of CNG as a cleaner and cheaper alternative to traditional fuels.
NGML’s move is seen as a strategic step towards accelerating the rollout of CNG infrastructure across the country, supporting national efforts to foster a more sustainable and cost-effective energy landscape.
The FCCPC noted that the transaction could have a significant impact on the competitive dynamics of the CNG market, but ultimately promises to benefit consumers through expanded access to cleaner energy solutions.

What you should know
As part of government’s efforts to boost the country’s CNG capacity, the Presidential Compressed Natural Gas Initiative (P-CNGi) and LNG Arete Ltd. recently signed a pivotal Memorandum of Understanding (MoU) for a $27.3 million gas plant project aimed at expanding compressed natural gas (CNG) infrastructure across Northern Nigeria.

The is aimed at addressing the region’s long-standing energy challenges, particularly in the transportation and industrial sectors, which have struggled with limited access to reliable and affordable energy.

Recall that President Bola Tinubu established the P-CNGi in August 2023 to revolutionize the transportation landscape in the country, targeting over 11,500 new CNG-enabled vehicles and 55,000 CNG conversion kits for existing PMS-dependent vehicles.

The initiative is also expected to boost local manufacturing and assembly of conversion kits while creating jobs for the country’s populace.