The Minister of Information and National Orientation, Mohammed Idris, has announced that the Presidential Initiative to deploy Compressed Natural Gas (CNG) mass transit buses is anticipated to lead to a reduction of over 50% in transport costs.
Idris, in a statement to the press on Sunday, urged Nigerians to see the initiative as a relief introduced by Tinubu’s administration to alleviate the economic challenges stemming from subsidy removal.
He also noted that there is a concerted effort among the relevant Ministries and Agencies of the Federal Government to tackle inflation, stabilize foreign exchange rates, and establish a genuinely supportive climate for business and investment.
He said,
- “Impactful interventions are being rolled out, including a Students’ Loan Scheme, a Presidential Initiative to deploy lower-cost CNG mass transit buses to provide alternatives to petrol and diesel, and various low-interest loan schemes for businesses. The CNG interventions will bring down the cost of transportation by more than 50%.
- “We urge Nigerians to take advantage of these opportunities as they emerge, as they have been designed for the benefit of all.
- “All relevant Ministries and Agencies of the Federal Government are working in coordinated fashion, to bring down inflation, stabilize foreign exchange rates, and create a truly enabling environment for business and investment.”
CBN, FAAN relocation to increase efficiency
Reacting to the controversies around the relocation of some selected departments of the Central Bank of Nigeria (CBN) as well as the cooperate headquarters of Federal Airports Authority of Nigeria (FAAN), the minister advised that citizens should see the move as a pragmatic way to promote efficiency in these departments, not a political move to marginalize any section of the country.
- “It is not true that the relocation to Lagos of the Headquarters of the Federal Airports Authority of Nigeria (FAAN), and of certain departments of the Central Bank of Nigeria (CBN), are political moves aimed at marginalizing a section of the country. These allegations are unfounded. Instead, these are pragmatic administrative steps to improve operational efficiency and reduce operating costs,” he added.
More Insights
- Idris also emphasized the need for a united Nigeria, warning against high-spirited narratives that may heat up the policy and threaten the bond that holds the citizens together.
- He therefore warned against the use of inciting and false claims on different media channels, adding that the objective behind these contents is to frustrate the unity in the country.
- “I would like to urge all Nigerians to be especially mindful of all persons and groups at home and abroad, who specialize in making false and inciting claims on radio, TV and social media, as well as in peddling altered videos and images for viral dissemination. We must all stand together as one, against these forces that constantly seek to test and break the bonds that hold us.
- “Nigeria belongs to all of us, and the work of building the Nigeria of our dreams is one that must be done by everyone, regardless of our religious faith or ethnic group or geopolitical zone,” the minister said.
