Pi-CNG & EV Welcomes Tinubu, Governors' Push for Lower Transport Fares Through CNG
The Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi-CNG & EV) has welcomed moves by President Bola Ahmed Tinubu and state governors to ensure that the lower cost of CNG translates into cheaper transportation for Nigerians.
President Tinubu, following discussions with the Nigeria Governors' Forum, announced that the governors had resolved to take measures to reduce transportation costs in their states, with a focus on leveraging the cost advantages of CNG and electric vehicles.
The President said the Federal Government had already made significant investments in the transition, with more than 120,000 vehicles converted to CNG nationwide and over 100,000 additional conversion kits in the pipeline. He also highlighted the continued expansion of conversion centres and refuelling infrastructure across the country.
Through the Midstream and Downstream Gas Infrastructure Fund, more than 100 gas projects are currently being financed, including 15 CNG mother stations and 86 daughter stations. President Tinubu also directed the rollout of an additional 500 CNG refuelling stations, bringing the planned nationwide programme to 1,000 stations.
Reacting to the development, Executive Chairman/CEO of Pi-CNG & EV, Barr. Ismaeel Ahmed, OON, described the position of the Governors' Forum as an important step towards ensuring that investments in the CNG ecosystem deliver direct benefits to citizens.
"I am particularly pleased with the position taken by the Nigeria Governors' Forum on the proposed CNG Transit Programme. We have spent the last few years building the ecosystem, expanding conversions, infrastructure and private sector participation. What we need to move the impact further is deeper collaboration among the Federal Government, states, the private sector, transport unions and operators, financial institutions, development partners and other critical stakeholders to take the benefits directly to the people."
— Barr. Ismaeel Ahmed, OON, Executive Chairman/CEO, Pi-CNG & EV
Ahmed said support from state governments for conversions, fleets and enabling infrastructure would be particularly important in ensuring that the savings offered by CNG are reflected in passenger fares.
"The commitment by states to support CNG conversions, fleets and enabling infrastructure, while ensuring that the lower cost of CNG translates into reduced passenger fares, goes to the heart of what we must all ultimately achieve. Benefits of this policy must not only be for the vehicle owner; they must be felt by citizens as well."
— Barr. Ismaeel Ahmed, OON, Executive Chairman/CEO, Pi-CNG & EV
He added that Pi-CNG & EV was ready to work with state governments and other stakeholders to translate the proposed programme into tangible benefits across the country.
"At Pi-CNG & EV, we look forward to working with the states and all stakeholders to make this a reality across the country."
— Barr. Ismaeel Ahmed, OON, Executive Chairman/CEO, Pi-CNG & EV
The renewed collaboration between the Federal Government and states is expected to build on ongoing investments in CNG conversion and refuelling infrastructure, with the ultimate objective of reducing the cost of moving people and goods across Nigeria.