Nigeria is seeking increased private sector investment and international climate finance to accelerate the adoption of compressed natural gas and electric vehicles, as the Federal Government moves to balance energy security, affordable transportation and emissions reduction.
The Presidential Initiative on Compressed Natural Gas and Electric Vehicles and the Nigerian Midstream and Downstream Petroleum Regulatory Authority made the call at a side event on mobilising green finance for low-carbon transport under Nigeria’s Nationally Determined Contributions at the ongoing COP31 in Antalya, Türkiye, on Wednesday.
The discussion examined how Nigeria can attract investment into CNG and electric mobility infrastructure, develop local manufacturing capacity and make cleaner transportation commercially viable.
Speaking at the event, the Chief Investment Officer of the Pi-CNG and EV initiative, Babajide Awolowo, said Nigeria’s clean mobility transition had moved beyond climate ambition and was increasingly becoming an investment opportunity.
He said the initiative had recorded significant progress in its
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