The Minister of Finance and Co-ordinating Minister of the Economy, Wale Edun, has announced that the introduction of Compressed Natural Gas (CNG)-powered buses will lead to reduced transportation costs for Nigerians.
This was made known by the Minister during a town hall meeting with the Ministry’s management and staff in Abuja.
The Director of Press and Public Relations at the Ministry, Stephen Kilebi, released this information yesterday.
In his address, Minister Edun sought the cooperation and support of the Ministry’s staff to facilitate the fulfillment of the mandate entrusted to him by the administration led by President Bola Tinubu. It read in part: “The meeting, which was held at the instance of the minister, was aimed at exchanging views with the management and staff on how best to deliver on the mandate of the Ministry in the Renewed Hope Agenda of the current administration”.
Edun further assured of continued staff welfare for better and more efficient service delivery.
The statement added, “He assured that staff welfare would be given top most consideration to ease their suffering, disclosing that plans were on the way for the provision of Compressed Natural Gas buses to alleviate the suffering of Nigerians as a result of the removal of fuel subsidy, stressing that with CNG buses Nigerians would pay less for transportation”.
One of the palliatives to cushion the effects of the removal of fuel subsidies is to spend N100bn to acquire 3,000 units of 20-seater CNG-fueled buses.
In August, Tinubu established the Presidential Compressed Natural Gas Initiative, targeting over 11,500 new CNG-enabled vehicles and 55,000 CNG conversion kits for existing PMS-dependent vehicles. In October, Tinubu also announced the imminent introduction of Compressed Natural Gas conversion kits.
The President stressed the administration’s commitment to enhancing affordability and accessibility in public transportation.
