President Bola Tinubu and state governors have agreed to work together to reduce transportation fares nationwide, with the Federal Government targeting October 1 for Nigerians to begin benefiting from lower transport costs.
Tinubu disclosed the development via his X handle after a meeting with the Nigeria Governors’ Forum, stating that the governors had agreed to take immediate measures to reduce the cost of transportation in their respective states.
According to the President, the initiative will focus largely on leveraging the lower operating costs of Compressed Natural Gas (CNG) and electric vehicles to bring down intra state transportation fares.
“I am pleased with my discussion with the Governors’ Forum this afternoon. The Governors have, on their own initiative, resolved to take immediate measures to bring down the cost of transportation in their states, with a strong focus on leveraging the cost benefits of CNG and electric vehicles,” Tinubu said.
The President said the Federal Government was already investing significantly in the transition to alternative energy through the Presidential CNG Initiative. He disclosed that more than 120,000 vehicles had been converted to CNG nationwide, while over 100,000 additional conversion kits were being processed.
Tinubu further disclosed that the government was expanding CNG conversion centres and refuelling infrastructure nationwide. He noted that the Midstream and Downstream Gas Infrastructure Fund was financing more than 100 gas projects across the country, including 15 CNG mother stations and 86 daughter stations.
According to him, four of the projects were commissioned in Lagos, Abuja and Owerri in May, including a 15-station refuelling network in Lagos and an Abuja facility capable of serving 1,000 cars and tricycles and 50 trucks and buses daily.
Tinubu also announced plans for 500 additional CNG refuelling stations, in addition to 500 stations previously ordered, bringing the planned total to 1,000 stations nationwide. He said CNG-powered vehicles spend between 60 and 80 per cent less on fuel than petrol-powered vehicles.
“From October 1, our goal is that Nigerians begin to partake in those savings through lower transport fares,” Tinubu said.
He added that a joint Federal and State committee would immediately begin implementing the measures.
By Musekir Faisat Omolara
