Station owners
Existing retailers can explore product diversification, subject to space, safe integration, commercial terms and operational responsibilities.
CNG infrastructure · Nigeria
Developing Nigeria’s CNG network
We are developing a national CNG network with suitable filling-station partners. Our plan brings together gas supply, equipment and operations, with each location assessed against customer demand and delivery costs.
Gas ecosystem
Our gas supply and distribution concept
Explore how we could connect gas supply, storage, transport and customer facilities.
Explore our gas ecosystem ↗Last updated: Our current development plan and technical references.
Blackfield Energies
Opportunity
We see an opportunity to make CNG easier to access through suitable existing filling stations. Our approach focuses capital on gas equipment and operations, with every site assessed on its technical and commercial merits.
Deployment
We plan to add 10, 20, 30, 40 and 50 stations in 2027–2031 respectively. Our first programme covers the first 50 stations. Our forecast runs to 2033, with no additional stations assumed in Years 6–7.
Our approach
Our delivery plan combines regional teams, qualified contractors and central programme oversight. We will assign clear responsibility for budgets, approvals, inspections, maintenance, incidents and reporting to the board.
Blackfield Energies
Our approach
Select
We assess traffic, fleet demand, access, utilities, equipment space, land rights and delivered-gas costs before selecting a location.
Partner with us
We aim to agree tenure, funding, ownership, revenue allocation and operating duties in writing, with clear service standards and exit provisions.
Install
Our installation plan brings compression, storage, drying, dispensing, metering and protection into the existing site. We require approved scope and quality checks before procurement and installation.
Operate
Our operating plan coordinates gas supply, metering, maintenance, monitoring and trained personnel across the network. We intend to track availability, throughput and service performance at each station.
Blackfield Energies
Market
Commercial transport
Intercity buses, taxis and urban transit with repeat daily mileage and predictable refuelling windows.
Logistics & haulage
Haulage, depot and distribution fleets. Assess route coverage, payload, dwell time and refuelling diversions.
Corporate fleets
Corporate and public fleets can begin with measured baseline consumption and a controlled pilot before wider conversion.
Industrial users
Farms, processing facilities and other gas users require a separate assessment of demand, supply arrangements and equipment compatibility.
Private motorists
Private motorists need compatible vehicles, accessible stations and clear service information before changing their daily fuel routine.
Station owners
Existing retailers can explore product diversification, subject to space, safe integration, commercial terms and operational responsibilities.
Blackfield Energies
Financial plan
Our Base Case covers 2027–2033, including five years of station development. Figures are in USD millions unless stated otherwise. These are our planning forecasts, not audited results or guaranteed returns.
| Year | New stations | Cumulative stations | Projected revenue | Projected EBITDA | Net income | Operating cash flow | Debt service coverage (DSCR) |
|---|---|---|---|---|---|---|---|
| 2027 | 10 | 10 | 1.90 | 0.35 | -0.68 | 0.35 | 0.35× |
| 2028 | 20 | 30 | 10.07 | 1.85 | -0.04 | 1.80 | 1.05× |
| 2029 | 30 | 60 | 28.04 | 5.14 | 1.78 | 4.40 | 1.35× |
| 2030 | 40 | 100 | 54.92 | 10.06 | 4.78 | 8.05 | 1.35× |
| 2031 | 50 | 150 | 92.06 | 16.87 | 9.10 | 13.01 | 1.35× |
| 2032 | 0 | 150 | 110.12 | 20.18 | 11.50 | 15.25 | 1.18× |
| 2033 | 0 | 150 | 113.42 | 20.78 | 12.39 | 15.48 | 0.95× |
Our financial plan — references: Investment Summary!B17:H24 · Station Rollout!B5:H10
Blackfield Energies
Capital strategy
US$100M
Requested financing ceiling
We are seeking funding; it is not yet committed. We have not set a minimum investor subscription in our financial plan.
Allocated bond budgetUS61.93M
Unallocated ceiling balanceUS38.07M
Conditional partner contributionsUS$9.05M
Total economic programme sourcesUS$70.98M
We are seeking a US$100m financing ceiling. Our current plan allocates US$61.93m to bond funding and leaves US$38.07m unallocated. With US$9.05m of conditional partner contributions, our costed programme totals US$70.98m. We retain the alternative 60/10/30 structure for comparison; it is not our active funding case.
Planning terms: 6.5% coupon; preferred ten-year tenor; US$6.5m DSRA at close; 1.35x forward DSCR target. All terms remain subject to diligence and definitive agreements.
Uses of the US$61.93m allocated bond budget
Our financial plan — references: Capital Stack!A18:D27, B40:B43
Our approach
Link funding commitments and drawdowns to milestones, verified evidence and defined commercial responsibilities. Assess equity, leasing, joint ventures, senior and subordinated debt as appropriate.
We will build site budgets from quotations for equipment, civil works, power, logistics, engineering, approvals, working capital and contingency. Before committing, we will test the effect of lower sales, higher gas costs, downtime and slower collections.