The Presidential Compressed Natural Gas Initiative has said that N100 billion has been set aside to make it easier for CNG buses to be installed across the country.
According to The Punch, this data was presented in a statement that was made public on Wednesday.
According to the initiative, a portion of the fund would go towards supporting the purchase of electric and gas-powered cars, opening the door for more cost-effective and environmentally friendly mass transit and transportation systems in the future.
In fact, the Presidential CNG Initiative is being seeded with N100 billion under the palliative program and it is intended to spark an auto-gas and electric vehicle revolution in the mass transit and transportation industry, according to a portion of the statement.
“Over 11,500 CNG and electric-fueled vehicles will be utilized, and 55,000 conversion kits will be installed, as part of the plan to eventually lower Nigerians’ transportation expenses and lessen the burden of rising living expenses.
The statement continued, “Under the capable leadership of its steering committee, led by FIRS Chairman, Zacch Adedeji, and his colleagues, the PCNGi is committed to delivering on the President’s vision without any distraction in line with the Renewed Hope Agenda.
“We are happy to reassure Nigerians that, based on the milestones the PCNGi has achieved in the last few weeks, the program is on track to deliver on these objectives. These milestones include strategic technical partnerships and the ongoing commissioning of several CNG conversion centers in key States across the country, such as Lagos, Abuja, Kaduna, Ogun, and Rivers, with many more to follow in the coming weeks.”
