President Bola Tinubu has stated that new CNG conversion kits will start coming in very soon to enhance affordability in the public transportation sector.
The President disclosed this during his Independence Day Speech earlier today.
He noted that this move is to help lower the cost of transportation in a bit to “make the economy more robust”.
Investment in Compressed Natural Gas
According to the President, his administration is also setting up training facilities to provide employment opportunities for transport operators and entrepreneurs.
In his words,
- “Making the economy more robust by lowering transport costs will be key. In this regard, we have opened a new chapter in public transportation through the deployment of cheaper, safer Compressed Natural Gas (CNG) buses across the nation. These buses will operate at a fraction of current fuel prices, positively affecting transport fares.
- New CNG conversion kits will start coming in very soon as all hands are on deck to fast-track the usually lengthy procurement process. We are also setting up training facilities and workshops across the nation to train and provide new opportunities for transport operators and entrepreneurs. This is a groundbreaking moment where, as a nation, we embrace more efficient means to power our economy. In making this change, we also make history.”
More on CNG
Recall that The Presidency had disclosed that the cost of Compressed Natural Gas (CNG) which is a cheaper alternative to Premium Motor Spirit is projected to cost N250 per litre.
The proposal for the use of CNG by the Federal Government and other stakeholders is part of efforts to make mass transportation more affordable after the removal of fuel subsidy which has led to a hike in the price of the product.
Special Adviser to the President on Media and Publicity, Ajuri Ngelale during a media interview explained that the initiative would be targeted at lower-income earners. He said:
- “You’re now looking at about N250 per litre on average for CNG. That’s going to have a massive impact on the ability of the everyday Nigerian going to work and back, going to market and back using mass transit across our states. That’s going to do that in the immediate term.”
What You Should Know
Nairametrics reported that President Bola Ahmed Tinubu had established the Presidential Compressed Natural Gas Initiative (PCNGI).
The purpose of the initiative is to revolutionize the transportation landscape in the country, targeting over 11,500 new CNG-enabled vehicles and 55,000 CNG conversion kits for existing PMS-dependent vehicles.
The initiative will also boost local manufacturing and assembling of conversion kits while creating jobs for Nigerians.
Looks like the price of CNG has started to gallop. 2 months ago it was projected to cost N120/ litre I hope 1 litre is equivalent to 1ccm of gas. Now we are hearing a price of N250/litre. Hope a new subsidy may not be emerging in CNG. CNG is Compressed Natural Gas. So it just has Safety and Technological input of Compression, storage and transportation. It is a100% Local Content.
CNG is measures in cubic meters NOT litter please and at present it sells for N502 per cubic meter not N250…May this dream become a reality in Nigeria.
This real good for the Nigerian. It’s my prayer that God will guide the president to led in God own focus and not to move as occasion warrant him. In the book of 1 Samuel 10:1-to the end. Saul go to over sacrifice because he look the wall is much pressing and do as occasion warrant him. I pray God will direct you..