FG To Launch First Batch Of CNG Vehicles Ahead Of May 29

April 22, 2024

FG To Launch First Batch Of CNG Vehicles Ahead Of May 29 — Presidency

No Comments

Special Adviser to the President on Information and Strategy, Bayo Onanuga, has confirmed that the first set of compressed natural gas (CNG) vehicles will be inaugurated before Tinubu administration’s first anniversary on May 29.

Onanuga made this disclosure in a statement on Sunday in Abuja.

According to him, the Federal Government allocated N100 billion from the N500 billion palliative budget to purchase 5,500 CNG vehicles (buses and tricycles), 100 electric buses, and over 20,000 CNG conversion kits.

He further explained this funding also supports the expansion of CNG refilling and electric charging stations.

“After months of detailed planning and background work, the committee driving the initiative is set to deliver on President Tinubu’s vision and promise.

“Already, the committee, being led by Michael Oluwagbemi, an oil and gas expert, has delivered some major foundational reforms to enable the new CNG and Electric Vehicles future the President promised.

“All is now ready for delivery of the first set of critical assets for deployment and launch of the CNG initiative ahead of the first anniversary of the Tinubu administration on May 29.

“The private sector has responded with over $50 million in actual investments in refuelling stations, conversion centres, and mother stations,” he said.

Nigeria’s Transportation System to move towards cleaner energy
Furthermore, Onanuga stated that the rollout of CNG buses and tricycles, coupled with the goal to have at least one million natural gas vehicles on the roads by 2027, will signify a significant shift in our nation’s transportation sector towards cleaner energy.

“To reduce the pollution, some countries of the world, such as India, China, Iran, Pakistan, Brazil , Argentina, Italy have built fleets of natural gas powered vehicles, instead of going the route of relying on liquid petroleum products propelled vehicles.

“Natural gas vehicles reduce tail pipe emission by up to 40%, and Nigeria’s commitment to this course will enable her meet her nationally determined commitments (NDCs) under Paris Climate Accord to which we are signatory.

“From the end of May, Nigeria will take some baby steps to join such nations that already have large fleets of CNG vehicles,” he said.
What you should know
Following the removal of the fuel subsidy on May 29, 2023, President Bola Ahmed Tinubu inaugurated the Presidential CNG Initiative in October of the same year to provide more affordable, safer, and environmentally friendly energy.

This initiative focuses on supplying compressed natural gas primarily for mass transit.

To alleviate the burden of rising fuel prices on the public, the Federal Government allocated N100 billion from the N500 billion palliative budget to buy 5,500 CNG vehicles (buses and tricycles), 100 electric buses, and over 20,000 CNG conversion kits.

This funding also encourages the development of CNG refilling and electric charging stations.
Furthermore, the private sector backed the initiative with more than $50 million in real investments towards refueling stations, conversion centers, and mother stations.

Source: Nairametrics

Online Poster View all posts

FG To Launch First Batch Of CNG Vehicles Ahead Of May 29 — Presidency

You may also like

Leave a Reply Cancel reply