He urged Nigerians to remain patient with the government as it implements the initiative... CLICK TO READ THE FULL NEWS HERE▶▶
Innoson Vehicle Manufacturing’s Founder and CEO, Innocent Chukwuma, has announced plans to roll out Compressed Natural Gas (CNG)-powered buses, aimed at providing affordable transportation across Nigeria.
After meeting with President Bola Tinubu at the Aso Rock Presidential Villa in Abuja on Thursday, Chukwuma expressed his strong support for the administration’s CNG initiative, describing it as “the way forward” for Nigeria.
He urged Nigerians to remain patient with the government as it implements the initiative.
Chukwuma noted that Innoson had already begun producing CNG kits before the government’s announcement, highlighting the advantages of CNG in reducing transportation costs. “The government’s initiative on CNG is the best idea for transportation in this country. CNG offers many advantages for Nigeria, which is why I recognized its potential and began producing CNG kits before the announcement,” he said.
He concluded that those who adopt CNG would soon realize its benefits, positioning it as the future of transportation in Nigeria.
The meeting between Chukwuma and President Tinubu followed the President’s nationwide address five days earlier, where he unveiled plans to distribute one million CNG kits at minimal or no cost to commercial vehicles. These vehicles, which account for 80% of the consumption of imported Premium Motor Spirit and Automotive Gas Oil, play a critical role in the nation’s transport sector.
In his address, President Tinubu underscored the irony of Nigeria’s reliance on oil-based petrol despite its vast oil and gas resources. He stressed the importance of harnessing the country’s gas resources to power the economy, predicting that the CNG initiative could yield significant savings, estimated at N2 trillion monthly.
Tinubu added that the shift to CNG would reduce the need for costly fuel imports and subsidies, freeing up resources for essential investments in healthcare and education. “This will save over N2 trillion a month, currently used to import PMS and AGO, and free up our resources for greater investment in healthcare and education,” the President stated.
