President Bola Ahmed Tinubu says state governors have resolved to take immediate steps to bring down the cost of transportation in their states by leveraging Compressed Natural Gas, CNG, and electric vehicles.
In a statement posted on his Facebook page on Thursday, the President said he was pleased with his discussion with the Governors’ Forum, noting that intra-state transport is where Nigerians feel the cost of fuel most directly.
“The Governors have, on their own initiative, resolved to take immediate measures to bring down the cost of transportation in their states, with a strong focus on leveraging the cost benefits of CNG and electric vehicles,” Tinubu said.
The President said the Federal Government is already investing heavily in the energy transition. Through the Presidential CNG Initiative, he noted that over 120,000 vehicles have been converted nationwide, with more than 100,000 additional conversion kits in the works.
He added that the government is also expanding conversion centres and refuelling infrastructure across the country.
Through the Midstream and Downstream Gas Infrastructure Fund, Tinubu said the Federal Government is currently financing more than 100 gas projects, including 15 CNG mother stations and 86 daughter stations.
“In May, I commissioned four of these projects in Lagos, Abuja and Owerri, including a 15-station refuelling network in Lagos and an Abuja facility that can serve 1,000 cars and tricycles and 50 trucks and buses a day,” he stated.
The President further directed the rollout of an additional 500 CNG refuelling stations nationwide, in addition to the 500 earlier ordered by the Fund. This, he said, brings the programme to 1,000 stations across the country.
Tinubu said a joint Federal and State committee has been set up to begin implementing the measures immediately, with a target for Nigerians to begin enjoying lower transport fares from October 1.
“A vehicle running on CNG spends 60 to 80 per cent less on fuel than one running on petrol. From October 1, our goal is that Nigerians begin to partake in those savings through lower transport fares. We have agreed that cheaper fuel should result in cheaper fares!” the President declared.
He urged all tiers of government to keep doing their part and work together “for the benefit of every Nigerian.”
The announcement comes amid the pledge by the presidential candidate of the African Democratic Congress (ADC) Atiku Abubakar to restore fuel subsidy if elected president.
