The Federal Government and state governors have agreed to jointly leverage cheaper Compressed Natural Gas (CNG) and electric vehicles to reduce the cost of intra-state transport from October 1.
President Bola Ahmed Tinubu disclosed this after his meeting with APC governors earlier Thursday.
Acknowledging the rising cost of intra-state transportation, Tinubu said he has directed additional rollout of another 500 CNG refuelling stations across the country in addition to the 500 stations ordered earlier this year, bringing the programme to 1,000 stations.
According to him, the Federal and state governments agreed to set up a joint committee to begin implementing the measures immediately.
Tinubu said, “I have also directed the additional rollout of another 500 CNG refuelling stations nationwide in addition to the 500 stations ordered earlier in the year by the Fund, bringing the programme to 1,000 stations across the country.
“I am pleased with my discussion with the Governors’ Forum this afternoon. 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.
“The Federal Government is already investing significantly in this energy transition. Through the Presidential CNG Initiative, over 120,000 vehicles have been converted nationwide, with more than 100,000 additional conversion kits in the works. At the same time, we continue to expand conversion centres and refuelling infrastructure nationwide.
“The Federal Government, through the Midstream and Downstream Gas Infrastructure Fund, is currently financing more than 100 gas projects across the country, 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.”
The president added that governors are moving to bring these benefits closer to the people they serve, saying a vehicle running on CNG spends 60 to 80 per cent less on fuel than one running on petrol.
.He added, “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! Each tier of government must keep doing its part and work together for the benefit of every Nigerian. Nigeria First.”
WARNING: If You Are Not 18+, Don’t Click The Link Below 👇🫣
Did you want to monetize your website, join MONETAG or ADSKEEPER and start earning
Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it.
Drop your comment in the section below, and don’t forget to share the post.
Never Miss A Single News Or Gist, Kindly Join Us On WhatsApp Channel:
https://whatsapp.com/channel/0029Vad8g81Eawdsio6INn3B
Telegram Channel:
https://t.me/gistsmateNG