UPDATE: FG TAKES DELIVERY OF 60 LOCALLY-ASSEMBLED CNG HYBRID BUSES
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The Federal Government has received sixty compressed natural gas (CNG) hybrid buses that were constructed locally.
Under the Presidential CNG Initiative, Jet Motor Company supplied the buses, which were disclosed in a post made on Thursday via its official X handle.
The announcement claims that the development is a continuation of efforts to offer Nigerians pleasant and reasonably priced transportation options.
At the company’s car production plant in Ajah, Lagos State, the vehicles were turned over to a team that included members from the Presidential Initiative on CNG (Pi-CNG) and the Ministry of Finance.
In spite of Nigeria’s vast oil and gas resources, President Bola Tinubu’s administration encountered a nation that was only dependent on oil, ignoring its gas resources while subsidizing the cost of fuel, according to a nationwide broadcast he made during the #EndBadGovernance protests against hunger and hardship.
He claimed that, in order to alter the story, his administration had made investments in CNG.
“Fellow Nigerians, we are a country blessed with both oil and gas resources, but we met a country that had been dependent solely on oil-based petrol, neglecting its gas resources to power the economy. We were also using our hard-earned foreign exchange to pay for and subsidise its use.
“To address this, we immediately launched our Compressed Natural Gas Initiative to power our transportation economy and bring costs down. This will save over N2tn a month, being used to import PMS and AGO and free up our resources for more investment in healthcare and education,” Tinubu stated.
He said his administration would distribute one million kits of extremely low or no cost to commercial vehicles that transport people and goods, and who currently consume 80 per cent of the imported petrol and diesel.
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