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PCNGi: Automobile CNG Attracted $491m Investments In Last 1 Year

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CNG Conversion

PCNGi: Automobile CNG Attracted $491m Investments In Last 1 Year

PCNGi: Automobile CNG attracted $491m investments in last 1 year. The Presidential Compressed Natural Gas Initiative (PCNGi) says automobile CNG attracted $491 million (N760.64 billion) in private investments and generated 84,000 direct and indirect jobs over the past year.

Michael Oluwagbemi, PCNGi programme director, spoke on Monday while addressing State House correspondents at the fifth edition of ‘Meet the Press,’ organised by the presidential communications team at the Aso Rock Villa, Abuja.

Oluwagbemi attributed the success to extensive stakeholder engagement and public awareness campaigns conducted between May and November 2024.

“We have attracted over $491 million of investments in the past year to AutoCNG, and we are very proud of it. This has created over 9,000 direct and 75,000 indirect jobs,” he said.

“After an intensive stakeholder engagement and public awareness campaign from May to November 2024, the PCNGi most important achievement was to convince the private sector to invest critical funds alongside the government’s investments upon stimulation of demand by commercial vehicle operators and private vehicle users alike.”

According to the director, Nigeria’s capacity to convert vehicles from petrol or diesel to bi-fuel systems has increased by 3,000 percent, with the number of conversion centers growing from just seven to over 200 nationwide.

Oluwagbemi announced that the PCNGi team is set to achieve 10,000 vehicle conversions by the end of the first quarter of 2025.

He further disclosed that 405 buses have been deployed as part of agreements with the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) during wage negotiations.

The PCNGi official acknowledged the existing shortage of CNG supply but assured that the newly launched refueling on-lending programme would help address the challenge by providing essential equipment at cost to key conversion centers and refueling partners.

He said by June 2025, the PCNGi team aims to extend CNG coverage from five to 17 states, utilising the ‘Last-Mile Gas Infrastructure Strategy’.

“25 sites are billed to benefit and 15 states are slated for this, already the first site in Kwara State is live and Kogi, Ekiti Rivers and Abuja will soon join them before May 1, 2025, by June 12 we shall have Kaduna, Abia, Enugu joining the fray with Niger, Kano and Benue following shortly thereafter,” Oluwagbemi said.

“To further bolster this base infrastructure, we have cooped our private sector partners to deploy over 150 new refueling locations in the next 18months.

“NNPC have already deployed 12 sites, with 8 to go this quarter, and the approval for additional 100 sought and secured for the next 18-24 months.

“We are aware that as a result of our successful awareness campaign last year and ground breaking initiatives like CIP that pay the private sector to convert vehicles to CNG, there has been a visible gap in CNG availability at the last Mile Gas Infrastructure Scheme, we note the longer queues in some localities but assure this is temporary.”

‘PLANS UNDERWAY TO INTRODUCE NIGERIAN GAS VEHICLE MONITORING SYSTEM’

The PCNGi programme director also announced that plans are in progress to introduce the Nigerian gas vehicle monitoring system (NGVMS), which will ensure that only properly converted vehicles can refuel at gas stations and operate on Nigerian roads.
He assured that the implementation of NGVMS would completely prevent illegal fabrication of CNG cylinders.

“The necessary steps to launch NGMS are ongoing are ongoing, we expect it to be in place by year end,” he added.

CNG Conversion

Automobile CNG

Addressing concerns about institutional capacity and public skepticism over safety, Oluwagbemi said the PCNGi has tackled the issues by collaborating with the federal ministry of petroleum to implement comprehensive monitoring of CNG and all gas-powered vehicles.

He highlighted ongoing collaborations with key agencies such as the Standards Organisation of Nigeria (SON), the National Automotive Design and Development Council (NADDC), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), and the Federal Road Safety Commission (FRSC).

Oluwagbemi added that the initiative is set to become active within the next 60 days.

Economy

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

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Lagos Assembly

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.

The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.

Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.

He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.

“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly

Lagos Assembly

“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”

Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.

Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.

He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.

Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.

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Crime

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

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EFCC Probes Man

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC,   on Tuesday, February 3, 2026  arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.

Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC Probes Man

EFCC

Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.

The suspect will be charged to court upon conclusion of investigations.

Dele Oyewale
Head,  Media & Publicity
February 3, 2026

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Economy

Access Bank Gets New Board Chair Ifeyinwa Osime

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National Bank Of Kenya

Access Bank Gets New Board Chair Ifeyinwa Osime

Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.

Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.

Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.

Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.

She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

National Bank Of Kenya

Access Bank Gets New Board Chair Ifeyinwa Osime

Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.

“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”

Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.

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