The Federal Government has assured Nigerians that the introduction of Compressed Natural Gas buses as part of the Presidential CNG Initiative will significantly reduce transportation costs.
The government also assured all that it would ultimately contribute to the control of the inflation rate.
The Finance Minister and Coordinating Minister of the Economy, Wale Edun, gave the assurance when he visited the JET Motor Company Assembly Plant in Lagos, where CNG buses are currently being assembled.
This was contained in a statement released on Saturday by the Senior Special Assistant to the President on Media and Publicity, Temitope Ajayi.
“I have come to see the CNG buses that Nigerians are asking about. I have seen them. I have tested them and driven them. I have seen them being assembled. The benefits will soon be available to Nigerians,” Edun said.
Edun noted that CNG buses are more cost-saving when compared to their petrol-powered counterparts.
He stated, “Two critical aims will be achieved. Whereas it costs about N55,000 to fill a 15-20 seater bus with petrol, it will cost between N12-15,000 to fill a CNG bus of the same capacity. This is three times, if not four times, less. This is a huge savings that will help reduce transport costs and, at the same time, help reduce inflation.”
While praising the JET’s employment of local talents in the assembly of the vehicles, the minister said the PCNGi is about affordable mass transit.
On his part, the chairman and founder of JET, Chidi Ajaere, commended President Bola Tinubu for his initiative in promoting local production of CNG vehicles.
Ajaero also applauded the PCNGi team’s resolve to make the project a success.
Established in 2018, JET Motor Company specialises in the production of Electric Vehicles vans, pickups, and CNG/Petrol designed to cater to Nigeria’s specific transportation requirements.
