The Managing Director of Lanre Shittu Motors, Taiwo Shittu has called on President Bola Tinubu to provide support for indigenous auto assembling companies in a bid to advance the production of compressed natural gas powered vehicles.
This appeal was made during a media briefing in Lagos, where Shittu outlined the company’s plans to introduce locally assembled full CNG buses to the market, according to The Punch.
The push for CNG vehicles comes in the wake of the fuel subsidy removal in May 2023, followed by the Presidential CNG Initiative launched in October 2023.
The initiative aims to promote more cost-effective, safer, and environmentally friendly alternatives to premium motor spirit (PMS), with the goal of reducing the nation’s reliance on expensive petrol and diesel imports.
President Tinubu’s initiative is expected to cut transportation costs, boost productivity, and potentially save Nigeria billions in fuel import expenditures.
Shittu said, “We expect the government to support and identify companies with the capacity to sustain the campaign.”
He noted that the support could come through funding, grants and tax incentives.
He expressed the full support of the local assembler for the Federal Government’s CNG initiative, saying, “This is the only way to save the country now.”
He said the company will soon launch new mass transit buses that are 100% powered by compressed natural gas (CNG) and assembled in Nigeria.
He said, “What we are selling is an engine built on CNG. It is better than a hybrid diesel engine and a converted diesel engine. Our engine will run over a million miles.
“We are, therefore, investing heavily in the CNG project. We are rolling out 100 units in the first phase. We are doing this with the support of our banks.”
He highlighted that these vehicles will feature 20% local content, including components such as glass, seats, fabrications, and lubricants.
“The government should support us. We have 43 years of experience already in this business. We have parts available worth over N2bn to support this initiative. So, we cannot go wrong.
“We have a new facility coming up in Ogun State, where we intend to expand our operations. We are also working at manufacturing batteries,” he added.
