Innoson Vehicle Manufacturing founder and CEO, Mr. Innocent Chukwuma, has declared that buses powered by compressed natural gas will soon provide the general public with more affordable transportation options.
Additionally, he asked Nigerians to “give him time” and be patient with the Bola Tinubu administration.
“I’ve discussed with him (President Tinubu), and soon the masses will have plenty of CNG buses on the road,” Mr Chukwuma told journalists after emerging from closed-door talks with President Bola Tinubu at the Aso Rock Presidential Villa, Abuja, on Thursday.
The automobile entrepreneur described the Presidential CNG Initiative as “the way forward” for the country.
He explained, “The government’s initiative on CNG is the best idea for transportation in this country because CNG offers many benefits for Nigeria.
“That benefit is what I recognised before I started the factory to produce vehicles that run on CNG. I began producing CNG kits before the announcement.
“So today, everyone who tries CNG will find that it is the way forward for this nation.”
Following a five-day nationwide broadcast, President Tinubu pledged to provide “a million kits at extremely low or no cost to commercial vehicles that transport people and goods and who currently consume 80 per cent of the imported Premium Motor Spirit and Automotive Gas Oil”. This meeting is scheduled for Thursday.
Nigeria, according to Tinubu, has a wealth of gas and oil resources, but it has only used its gas resources to power its economy by relying only on oil-based petrol. According to him, the country would save N2 trillion per month through the CNG scheme.
“We were also using our hard-earned foreign exchange to pay for and subsidise its use.
“To address this, we have launched our Compressed Natural Gas Initiative to power our transportation economy and reduce costs.
“This will save over two trillion Naira a month, which is currently used to import PMS and AGO, and free up our resources for greater investment in healthcare and education,” said Tinubu.
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