FG takes delivery of 60 locally-assembled CNG hybrid buses

This information was shared in a post on the official X handle yesterday, noting that the buses were delivered by Jet Motor Company as part of the Presidential CNG Initiative.

The announcement revealed that this initiative is part of ongoing efforts to provide affordable and comfortable transportation solutions for Nigerians.

The handover took place at the company’s manufacturing plant in Ajah, Lagos State, involving a team from the Ministry of Finance and representatives from the Presidential Initiative on CNG (Pi-CNG).

During President Bola Tinubu’s national address amid the #EndBadGovernance protests over hunger and hardship, he highlighted that despite Nigeria’s rich abundance of oil and gas resources, his administration inherited a country overly reliant on oil while neglecting gas resources and subsidizing fuel costs.

To rectify this situation, he stated that his administration has invested in CNG to reshape Nigeria’s energy narrative.

“Fellow Nigerians, we are a country endowed with both oil and gas resources, yet we found ourselves reliant solely on oil-based petrol, disregarding our gas resources that could drive economic growth. Additionally, we were expending our hard-earned foreign exchange on importing and subsidizing fuel.

“In response, we promptly launched our Compressed Natural Gas Initiative to revitalize our transportation sector and reduce costs. This initiative will save over N2 trillion each month, which is currently spent on importing petrol and diesel, allowing us to allocate more resources towards healthcare and education,” Tinubu stated.

He also mentioned plans to distribute one million conversion kits at little to no cost for commercial vehicles that transport people and goods, which utilize 80 percent of the imported petrol and diesel.

“We have begun the distribution of conversion kits and are establishing conversion centers across the country in partnership with the private sector. We believe this CNG initiative will decrease transportation costs by around 60 percent and help alleviate inflation,” Tinubu added.