In a significant move towards sustainable and economical transportation, the Presidential Compressed Natural Gas Initiative has revealed plans to allocate N100 billion for the widespread deployment of compressed natural gas (CNG) buses nationwide.
The announcement, detailed in a statement releasedrecently, outlined the initiative’s commitment to fostering an auto-gas and electric vehicle (EV) revolution in mass transit.
The statement highlighted the multifaceted approach of the initiative, indicating that a portion of the funds would be directed towards supporting the adoption of auto-gas and electric vehicles.
This strategic investment aims to pave the way for a more sustainable and cost-effective future in mass transit and transportation.
Quoting the statement, it said, “Indeed, the Presidential CNG Initiative is being seeded with N100 billion under the palliative program, and designed to catalyse an auto-gas and EV revolution in the mass transit and transportation sector.”
The initiative’s ambitious plan includes leveraging over 11,500 CNG and electric-fueled vehicles, along with the deployment of 55,000 conversion kits. The ultimate goal is to significantly reduce the cost of transportation for Nigerians and alleviate the challenges posed by the rising cost of living.
