The Federal Government (FG) has said that the introduction of Compressed Natural Gas (CNG) buses under the Presidential CNG Initiative (PCNGi) will ensure a substantial reduction in transportation costs, subsequently helping curb inflation.
Minister of Finance and Coordinating Minister of the Economy, Olawale Edun, stated this during a visit to the JET Motor Company (JET) Assembly Plant in Lagos, where CNG buses are being assembled.
He explained that the users of the buses will spend less against the cost of petrol to fuel their tanks.
Edun made this known in a statement on Saturday by Senior Special Assistant to the President on Media and Publicity, Temitope Ajayi, stressing that he had seen the vehicles being assembled, expressing confidence that the benefits of the initiative will soon be accessible to Nigerians.
“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.
The minister also enumerated the significant cost savings that CNG buses provide compared to their petrol-powered counterparts.
“Two critical aims will be achieved. Whereas it costs about N55,000 to fill a 15-20 seater buses 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,” he said.
