The Federal Government has said that about $700m in investment was made in Compressed Natural Gas and electric vehicles last year.
The Special Adviser on Energy to President Bola Tinubu, Olu Verheijen, said this was made possible by the various incentives announced by the President to support investments in electric mobility and midstream and downstream infrastructure to increase the penetration of Liquefied Petroleum Gas, Compressed Natural Gas, and mini-Liquefied Natural Gas.
In a report, Verheijen expressed satisfaction, saying Tinubu’s energy sector reforms are prompting oil companies to take a second look at Nigeria.
According to her, Tinubu’s vision is to ensure Nigeria has abundant energy in all forms and must ensure that every policy and regulation is designed to unlock investments that deliver this energy as affordably and sustainably as possible, for domestic use and export.
