Compressed Natural Gas (CNG) is on track to become Nigeria’s next major economic driver, with energy expert Charles Goriola Yakub highlighting its growing importance and advocating for more private investment to fuel its expansion. As Managing Director of C&L Smart Energy Solutions, Yakub disclosed in an exclusive interview with Voice of Nigeria that his firm operates the country’s largest CNG infrastructure.
Drawing on experience from countries such as China, Thailand, and India, Yakub noted that he has adopted and successfully applied their CNG operational frameworks in Nigeria. He urged the private sector to play a more active role in developing the nation’s CNG ecosystem, aligning his call with President Bola Tinubu’s pro-private sector stance.
“We need more private sector involvement in the development of CNG stations in Nigeria. President Bola Tinubu has always been a champion of private sector-led economic growth, and this is evident in the way he drives his programmes,” Yakub said.
While acknowledging the federal government’s efforts to subsidise CNG as a buffer against the impact of fuel subsidy removal, Yakub stressed that more robust efforts are required to drive significant progress. He pointed out the urgent need to scale up local production of CNG kits and increase the number of refuelling stations across the country. In his view, CNG could become as vital to Nigeria’s economy as crude oil once was.
Yakub emphasised that CNG is not only more cost-effective but also offers safety advantages over conventional fuel sources. He identified infrastructure as a key challenge but noted that innovation from private sector players is helping to bridge the gap. His company is introducing a Mobile Refill Unit, expected to launch in Abuja within a month, which will serve various locations while meeting global safety standards.
He praised President Tinubu’s bold approach to economic reforms, describing him as a leader with unmatched courage and insight when it comes to tackling long-standing issues. Yakub remarked that Tinubu took the decisive step of ending fuel subsidies—something previous leaders hesitated to do.
“He is the most audacious and well-informed president Nigeria has ever had when it comes to policy and economic reforms. While past leaders hesitated to remove the fuel subsidy, Tinubu dared to do so.
“He is a visionary leader focused on solving long-standing problems affecting our economy and the naira,” he stated.
Reflecting on the country’s economic condition at the start of Tinubu’s tenure in 2023, Yakub likened it to being in the “Intensive Care Unit (ICU)” and said recovery is now underway through strategic reforms.
“I can confidently say that President Bola Tinubu is the best man for the job,” he stated.
Yakub concluded by reiterating the critical need for investment in Nigeria’s CNG sector, asserting that unlocking its full potential could have transformative effects on the national economy.