Tinubu, governors set to crash transport fares nationwide

By Ayorinde Oluokun

President Bola Ahmed Tinubu said he has agreed with governors to crash the cost of transport nationwide by strongly on leveraging the cost benefits of CNG and electric vehicles.

The President who said this on his social media platform on Thursday evening said the Governors agreed on immediate measures to bring down the cost of transportation in their states with adoption of CNG and electric vehicles on their own accord during his meeting with them.

President Tinubu noted that the Federal Government is already investing significantly in this energy transition through the Presidential CNG Initiative.

According to him, over 120,000 vehicles have been converted nationwide, with more than 100,000 additional conversion kits in the works.

He added that the federal government has continued to expand conversion centres and refuelling infrastructure nationwide.

For one, President Tinubu noted that the Federal Government, through the Midstream and Downstream Gas Infrastructure Fund, is currently financing more than 100 gas projects across the country, including 15 CNG mother stations and 86 daughter stations.

He also noted that he had in May commissioned four of the projects in Lagos, Abuja and Owerri, including a 15-station refuelling network in Lagos and an Abuja facility that can serve 1,000 cars and tricycles and 50 trucks and buses a day.

The President also revealed that he has directed the additional rollout of another 500 CNG refuelling stations nationwide in addition to the 500 stations ordered earlier in the year by the Fund, bringing the programme to 1,000 stations across the country.

“Intra-state transport is where Nigerians feel the cost most directly, and it is where the states hold the levers. I am encouraged that our Governors are moving to bring these benefits closer to the people they serve,” the President said

He also revealed that the governors and Federal government have agreed to set up a joint Federal and State committee to begin implementing the measures immediately.

According to the President, a vehicle running on CNG spends 60 to 80 per cent less on fuel than one running on petrol.

President Tinubu said Nigerians will begin to enjoy the benefit of the lower transport cost by October.

“From October 1, our goal is that Nigerians begin to partake in those savings through lower transport fares.

“We have agreed that cheaper fuel should result in cheaper fares!

“Each tier of government must keep doing its part and work together for the benefit of every Nigerian.

“Nigeria First,” said Tinubu.