The government has promised Nigerians that including Compressed Natural Gas buses as part of the Presidential CNG Initiative will greatly lower transportation costs.
The government has also promised everyone that it will in the end help manage the inflation rate.
Wale Edun, the Finance Minister and Coordinating Minister of the Economy, made the promise during a visit to the JET Motor Company Assembly Plant in Lagos, where CNG buses are currently being assembled.
This information was shared in a statement by the Senior Special Assistant to the President on Media and Publicity, Temitope Ajayi, on Saturday.
The statement quoted Edun as saying that after witnessing the assembly process of these vehicles, he was confident that Nigerians will soon start benefiting from this initiative.
“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 pointed out that CNG buses are more cost-effective 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.
Created in 2018, JET Motor Company specializes in the production of Electric Vehicles vans, pickups, and CNG/Petrol designed to cater to Nigeria’s specific transportation requirements.
