Business News

FG to deploy 530 CNG buses to six states by end of May 

The Federal Government has disclosed plans to deploy 530 Compressed Natural Gas (CNG) buses to six states as part of the first phase of the implementation of the President CNG Initiative (PCNGi) by the end of May.  

This was disclosed on the official X handle of the President’s media centre, which detailed the schedule of activities for the launch of the Presidential CNG Initiative across the country.  

According to the schedule, the stakeholder event would be held on different dates between May 15 and 29 across the six geopolitical zones of the country.  

The event for the South-South and South-East would be held in Port-Harcourt on the 18th of May, while between May 24th and 31st, the Kojo Factory inspection at the Enugu-Onitsha site would be held between the 24th and 31st of May. 

Following the removal of the fuel subsidy on May 29, 2023, which led to an over 200% increase in the cost of petrol (PMS) for vehicles, President Bola Ahmed Tinubu launched the Presidential CNG Initiative in October of the same year to offer more affordable, safer, and environmentally friendly energy options.