The Presidential Compressed Natural Gas (PCNG) Initiative Underway as REA Sign MoU with BOVAS & Company Limited, a Partner of the Presidential Initiative:
Earlier today, the REA, led by the Agency’s MD/CEO, Engr. Ahmad Salihijo Ahmad received the Bovas team, a partner of the Presidential Initiative for an official MoU Signing.
In furtherance of his commitment to easing the impact of fuel subsidy removal on Nigerians by reducing energy costs, President Bola Ahmed Tinubu, in August 2023, approved the establishment of a strategic, solution-driven initiative, the Presidential Compressed Natural Gas Initiative (PCNGI)..
As the implementing Agency of the Federal Government of Nigeria, the partnership will enable the REA to further optimize its mandate, creating the right ecosystem, while collaborating on the planning and implementation of electrification programmes targeted at deploying charging infrastructure for mass transit buses, taxis, tricycles, and motorcycles in rural and peri-urban areas.
This strategic partnership and its objective are timely and solution-driven, in light of the recent removal of the Premium Motor Spirit (PMS) subsidy and the subsequent impact on the incomes of poor and vulnerable households
As an Agency with a history of implementing people-centered programmes, the REA is committed to supporting the Federal Government’s efforts to mitigate these effects through the adoption of E-Mobility, which includes the utilization of electric vehicles (EVs) and the establishment of charging stations.
The Agency believes that this collaborative effort will not only contribute to the success of the Presidential CNG Initiative but also accelerate the adoption of sustainable and eco-friendly transportation solutions in Nigeria
