355 Views

How I Had Planned To Make Vehicles Run On Gas – Obasanjo

Speaking during a courtesy visit by the management of Nipco Plc at his Presidential Hilltop residence in Abeokuta, Ogun State, former President Olusegun Obasanjo on Sunday, said his intention during his regime was to develop the nation’s natural gas for vehicles to use and reduce dependence on imported petrol.
Obasanjo also disclosed that that he gave out licences to companies in a bid to achieve this, adding that by now, 50 per cent of the vehicles in the country should have been running on gas. But it was gathered that only Nipco, which later went into a partnership with the Nigeria Gas Company to form Green Gas Limited, had invested significantly in the project since then.
Reacting to comments by the Managing Director, Nipco, Venkataraman Venkatapathy, Obasanjo said, “When I gave the licence in my time, the idea was to use what we had and by now, we could have put half of all the vehicles on gas.”
Venkatapathy had earlier said the replacement of petrol by the CNG would save Nigeria the much-needed foreign exchange on importation of petrol.
“The CNG is a superior auto fuel alternative to liquid fuels mainly petrol and diesel, specifically for countries like Nigeria, which is blessed with abundant (over 186 trillion cubic feet) availability of natural gas that remains untapped.
 
“To replace 20 per cent of the current petrol consumption of Nigeria, natural gas required is less than five per cent of the total domestic gas consumed currently and less than one per cent of the current gas production. Foreign exchange saved will be close to $2bn,” he said.
According to him, in Benin City, Edo State, over 4,000 vehicles run on the CNG which resulted in replacing 20 million litres of petrol from 2012 to 2015 and forex savings of over $9m, adding that Green Gas had developed nine operational CNG stations, with three stations under completion and five under construction.
Dr. Muhammed Ibrahim, a former Special Assistant on Petroleum Resources to President Obasanjo who was on the Nipco team, said;
“I was one of the team members when President Obasanjo was in office in 2006 that initiated the full concept of development of gas for vehicles and other applications in the country. It was during his regime that President Obasanjo awarded three licences to three companies to invest in the promotion and diffusion of Compressed Natural Gas for vehicular application in the country.
 
“But because of the capital-intensive and high-tech nature of the project, only one company today after 10 years has invested millions of dollars in the project such that the entire Benin City is encircled with a network of gas pipelines with about seven CNG gas stations providing the CNG to more than 4,000 vehicles,” he said, adding that the company had constructed the largest CNG station on the African continent in Ibafo, Ogun State.

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Leave a Comment

Your email address will not be published.

Latest Posts

Otedola and Dangote Attend UBA’s Award Night
Business
6 views
Business
6 views

Otedola and Dangote Attend UBA’s Award Night

PH - April 24, 2018

Billionaires Femi Otedola and Aliko Dangote were present at UBA’s award night to support their friend, Chairman of UBA Tony Elumelu. Otedola shared a photo of the…

5 Ways Women Push Men Away
Romance and Love
7 views
Romance and Love
7 views

5 Ways Women Push Men Away

PH - April 24, 2018

Falling in love and starting a relationship can be quite easy but the real task is how best to make the romance last. A relationship tends to…

Police Finally Reveals the Main Reason Senator Dino Melaye Was Arrested (See Details)
Politics
24 views
Politics
24 views

Police Finally Reveals the Main Reason Senator Dino Melaye Was Arrested (See Details)

MT - April 24, 2018

There was some mild drama yesterday as a controversial senator representing Kogi state at the National Assembly, Dino Melaye, was arrested as he attempted to leave the…

How Kebbi State Government Publicly Disregarded First Wife, Aisha Bagudu As State’s First Lady
Politics
62 views
Politics
62 views

How Kebbi State Government Publicly Disregarded First Wife, Aisha Bagudu As State’s First Lady

MT - April 23, 2018

A mild drama recently occurred on Twitter leading to a public revelation that the popular Aisha Bagudu isn't recognized as first lady.  Recently, one of the national…

Moment Nigerian Singer Mayorkun Re-United With His Dad After Two Years
Entertainment
89 views
Entertainment
89 views

Moment Nigerian Singer Mayorkun Re-United With His Dad After Two Years

MT - April 23, 2018

Singer Mayorkun has reunited with his dad in Dallas. The singer says the last time he saw his dad was two years ago when he was still…

#BBNaija Special: According to Google, Cee-C is the Most Bitter Woman in Nigeria
Buzz & Trends
64 views
Buzz & Trends
64 views

#BBNaija Special: According to Google, Cee-C is the Most Bitter Woman in Nigeria

MT - April 23, 2018

Cynthia Nwadiora popularly identified as Cee-C was tagged a very bitter and angry person following her controversial activities at the Big Brother Naija reality show which was…

How Lagos Saved N4.5bn From Non-sponsorship Of Pilgrimages
Politics
52 views
Politics
52 views

How Lagos Saved N4.5bn From Non-sponsorship Of Pilgrimages

PH - April 23, 2018

The Lagos State Government says it has saved a total of N4.5billion in the last three years since it stopped funding pilgrimages. According to it, the feat…

Afrobeat Artiste, Seun Kuti, Unveils New Album “Black Times”
Entertainment
56 views
Entertainment
56 views

Afrobeat Artiste, Seun Kuti, Unveils New Album “Black Times”

PH - April 23, 2018

Afrobeat artiste Seun Kuti has announced a new album, “Black Times“. According to him, “Black Times is a true reflection of my political and social beliefs; it…

Former Super Eagles Star, Femi Opabunmi Reveals How He Became Blind
Politics
62 views
Politics
62 views

Former Super Eagles Star, Femi Opabunmi Reveals How He Became Blind

MT - April 23, 2018

There is a photo of Femi Opabunmi trying to mark David Beckham in what look liked a set-piece situation during Nigeria’s goalless draw against England in a…

#BBNaija: See All the Prizes Miracle Will Be Going Home With After He Emerged Winner
Entertainment
68 views
Entertainment
68 views

#BBNaija: See All the Prizes Miracle Will Be Going Home With After He Emerged Winner

MT - April 23, 2018

Big Brother Naija 2018 winner, Miracle Igbokwe is still counting his blessings after winning the reality television show yesterday night. A list of all the prizes he…

Read Vimbai’s Open Letter to #BBNaija Housemates
Entertainment
60 views
Entertainment
60 views

Read Vimbai’s Open Letter to #BBNaija Housemates

PH - April 23, 2018

Former Big Brother Africa housemate and media personality, Vimbai Mutinhiri in a new post on her Instagram page, has a message for the housemates from the recently…

25-yr-old Nigerian Man Becomes Africa’s first PhD holder in National Security Strategy In The UK
Best of Nigeria
73 views
Best of Nigeria
73 views

25-yr-old Nigerian Man Becomes Africa’s first PhD holder in National Security Strategy In The UK

PH - April 23, 2018

A 25-year-old U.K based Nigerian man and Twitter @olamideDIY just achieved a great feat of becoming Africa’s first PhD holder in National Security Strategy. Sharing the amazing…

Actress Omoni Oboli Launches Feeding Outreach “Sister Lizzy’s Kitchen” in memory of Late Mum
Entertainment
56 views
Entertainment
56 views

Actress Omoni Oboli Launches Feeding Outreach “Sister Lizzy’s Kitchen” in memory of Late Mum

PH - April 23, 2018

Nollywood actress and latest author in town, Omoni Oboli, turned forty yesterday and to celebrate her new age, she spent her day with the children of Makoko…

Nigeria’s Chinedu Moghalu Appointed Head, Communications & Advocacy, Africa Risk Capacity/UN WFP
World Buzz
63 views
World Buzz
63 views

Nigeria’s Chinedu Moghalu Appointed Head, Communications & Advocacy, Africa Risk Capacity/UN WFP

PH - April 23, 2018

Chinedu Moghalu, a Nigerian, has been appointed the Senior Communications Specialist/Head, Communications & Advocacy for the Africa Risk Capacity/United Nations World Food Programme, based in Johannesburg, South…

#BBNaija’s Teddy-A Surprises BamBam on her Birthday (Photo)
Entertainment
70 views
Entertainment
70 views

#BBNaija’s Teddy-A Surprises BamBam on her Birthday (Photo)

PH - April 23, 2018

Today is Big Brother Naija’s BamBam’s birthday, and to celebrate, her one-time strategic partner in the house Teddy-A paid her a surprise. According to Olorisupergal, Teddy-A threw…

#BBNaija’s BamBam to launch Beauty Oils on her Birthday
Business
63 views
Business
63 views

#BBNaija’s BamBam to launch Beauty Oils on her Birthday

PH - April 23, 2018

Bam Beauty Oils – that’s the brand name of the beauty oil collection Big Brother Naija’s BamBam is set to launch on her birthday, April 23. BamBam…

#BBNaija’s Teddy A To Launch Clothing Line “Badman Apparel”
Entertainment
62 views
Entertainment
62 views

#BBNaija’s Teddy A To Launch Clothing Line “Badman Apparel”

PH - April 23, 2018

Hot out of the “Big Brother Naija” house, evicted housemate Teddy A is set to launch a clothing line. The musician made the announcement on his Twitter,…

Omoni Oboli Celebrates 40th Birthday With New Book
Entertainment
52 views
Entertainment
52 views

Omoni Oboli Celebrates 40th Birthday With New Book

PH - April 23, 2018

You can now add author as a title when referring to Nollywood actress Omoni Oboli who turned 40 today. To celebrate the big 4-0, the actress has…

Loading...