Business

FG Invests Over $450 Million In CNG – PCNGi

Published

12 months ago

December 10, 2024

Presidential Compressed Natural Gas Initiative ,PCNGi, yesterday said that it had invested more than 450 million U.S Dollars in the Compressed Natural Gas ,CNG, value chain.Mr Michael Oluwagbemi, Project Director and Chief Executive Officer ,CEO, PCNGi, disclosed this during the 9th Edition of the Nigeria Energy Forum ,NEF2024, Day 2, Virtual Event in Lagos.

The theme of the 9th Edition of NEF is: “Energising Sustainable Industrialisation”.According to the PCNGi CEO, the amount goes into things like mother stations, daughter stations and refueling stations as well as conversion centres which are starting to spring up across the nation.Oluwagbemi, who was represented by Mr Tosin Coker, the Head of Commercial, PCNGi, said the initiative had successfully converted more than 10,000 vehicles from petrol to CNG.“By 2027, the initiative will have converted more than one million vehicles using petrol to CNG”, he said.On incidents of explosion of vehicles using CNG, the CEO assured Nigerians that it had taken precautionary measures with different agencies of government to ensure safety.

Mrs Ibironke Olubamise, National Coordinator of the GEF Small Grants Programme ,SGP, managed by UNDP, said the SGP was investing in youth energy innovation for economic growth and environmental sustainability.Dr Daniel Adeuyi, NEF Group Chairman, said “the event featured three super sessions on Energising Industrial Revolution, Community Climate Action by GEF-SGP UNDP and Clean Energy Innovations.

“The sessions are to share lessons learnt from real life projects and build capacity of young entrepreneurs and cross-industry professionals”.Mr Joseph Osanipin, the Director General, National Automotive Design and Development Council ,NADDC, said that the council had trained more than 4,000 auto technicians on how to convert petrol vehicles to CNG.He said the council had started campaigns to sensitise Nigerians on the advantages of using CNG to power their vehicles. “CNG can guarantee cleaner environment, it is cheaper and affordable”, he said.Mr Oluwatobi Ajayi, the Chairman and Managing Director, Nord Automobile Ltd., said the company was established to tackle the growing demand for vehicles in Africa and reduce import dependency.He said that because of the Federal Government’s CNG initiative, the company had incorporated it into their vehicle production to meet up with the government policy.Dr Armstrong Tankan, the Managing Director and Chief Executive Officer, Ministry of Finance Incorporated ,MOFI, said that MOFI was set up in 1959 as the statutory vehicle to hold all the assets owned by the federal government.

“Today, we’ve been able to identify the assets the federal government owns and we are trying to track them.‘We actually do have assets, not just locally but globally as well and it’s very important that we establish visibility over what the federal government owns before we can start talking about managing them.“So, we want to try to minimise the waste, minimise the overlaps and help to improve output”, he said.

Engr. Adekunle Makinde, NEF Co-chair, said, “the 9th Africa Energy Innovation Challenge ,AEIC, attracted over 140 entries from 25 different countries across Africa, with over 99% of entries as first-time participants.

“The 2024 AEIC has GEF-SGP UNDP as principal supporter, with Afrexim Bank and Oando Clean Energy Ltd. as co-supporters.“The top three winners of the youth innovation contest were awarded grant prizes to upscale and deploy the innovative energy solutions across real life applications.

“The first prize of N2 million was awarded to solar-powered dehydrators for agro-processing.“The second prize of N1.5 million was awarded to irrigation loop by Thinpower, while the third prize of N1 million went to solar powered irrigation and cold storage for farmers”, Makinde said

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Business

FG, Investonaire Academy Unveil National Programme to Equip 100,000 Youths with Financial Skills, Digital Wealth Tools

Published

5 days ago

November 25, 2025

The Gleamer

By Joel Ajayi

The Federal Government, in collaboration with Investonaire Academy, has unveiled a nationwide financial literacy and wealth-building programme targeting more than 100,000 young Nigerians. The initiative is designed to equip participants with practical skills in budgeting, saving, investing, asset building, and long-term financial planning, positioning them for sustainable prosperity in a rapidly evolving economy.

Launched on Tuesday in Abuja, the Honourable Minister of Youth Development, Comrade Ayodele Olawande, described financial literacy as a necessary survival tool for young people confronting today’s economic realities.

He noted that the initiative represents the foundation of a broader vision expected to extend beyond Nigeria to other African nations and global markets.

Reaffirming the Federal Government’s commitment to supporting over 4,000 corps members annually, the Minister said the programme will provide platforms, resources, and skills needed for both job creation and employability.

“The young people who understand money — how to save, invest, build assets, and manage risk — are the ones who will lead Nigeria into prosperity,” he said.

A major highlight of the launch was the expansion of the Nigeria Youth Academy, a digital platform offering mentorship, training, and startup support. According to the Minister, more than 200 startups will receive empowerment through the Academy’s e-app platform before the end of the year.

He stressed the need for deeper collaboration with private organisations, innovators, and youth-focused groups, noting that government alone cannot drive youth development. He further encouraged young Nigerians to embrace skills acquisition, innovation, and digital enterprise, saying these remain critical to reducing the desire for migration and increasing self-reliance.

Outlining the Ministry’s long-term commitments, Olawande emphasized three priorities: supporting youth innovation, equipping them with growth tools, and safeguarding millions of Nigerian youths under the Ministry’s mandate.

Speaking at the launch, Sebastien Sicre, Chief Operating Officer of Investonaire Academy, said the programme was crafted to revolutionize the way Nigerian youths learn and apply financial knowledge. He highlighted the Academy’s gamified Learning Management System (LMS), which offers interactive learning tools, community forums, and real-time mentorship to make financial education engaging and accessible.

Complementing the digital platform is a new 200-square-metre physical training centre in Abuja, opposite the NNPC Towers, where in-person workshops and mentorship sessions will take place.

The curriculum covers key global asset classes — including equities, commodities, forex, and indices — ensuring participants gain a broad understanding of financial markets.

Sicre added that with Federal Government backing, the programme seeks to unlock new opportunities, strengthen youth participation in the digital economy, and reward outstanding participants through a $1 million funding pool to support new and existing ventures.

International Programme Director of Investonaire Academy, Dr. Enefola Odiba, explained that the initiative aims to bridge long-standing gaps in financial education among Nigerian youths. While schools teach many subjects, he said, essential financial skills are often missing.

“Many people can earn money — earning money can be easy. The real challenge is retaining, managing, and growing that money,” he noted.
Referencing the Central Bank of Nigeria’s definition of financial literacy, Odiba stated that implementation remains a major national challenge. He said the initiative brings together government agencies, youth groups, academic institutions, and private-sector partners to translate strategy into measurable impact.

The programme’s curriculum covers budgeting, saving, investing, and financial planning — areas where many young people struggle. By offering practical training, real-world insights, and guided mentorship, the initiative aims to build a generation of financially empowered youth capable of driving innovation, entrepreneurship, and sustainable economic growth.

With this partnership, the Federal Government and Investonaire Academy share a common goal: to empower young Nigerians with the financial intelligence and digital tools needed to build wealth, grow businesses, and transform the nation’s economic future.

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