Subsidy: Presidential CNG Initiatives Presents 20 Buses to Oyo Govt For Sustainable Mass Transit

… As to promote sustainable mass transit and mitigating fuel subsidy removal effects

The Presidential Compressed Natural Gas Initiatives (CNGi) has handed over 20 Compressed Natural Gas (CNG) buses to the Oyo State Government to promote sustainable mass transit and mitigate the effects of fuel subsidy removal on Nigerians.

The initiative was launched two weeks ago in Ibadan, with a ceremony held at the Pacesetter Transport Services Headquarters in Eleyele, Ibadan.

Chairman of the Steering Committee, Presidential CNGi, Mr. Michael Oluwagbemi, highlighted the challenges posed by fuel subsidy, which has nearly bankrupted the country. She emphasized the need to transition to a cleaner, cheaper, and more reliable energy source.

Mr. Oluwagbemi noted that Nigeria has an estimated 282 trillion cubic feet of gas, enough to sustain the nation for over 200 years.

Chairman of Oyo State Pacesetter Transport Services, Hon. Ibrahim Salami, expressed the need for more buses from the federal government to cater to the state’s 7.5 million citizens.

He promised that the state government plans to convert more buses to CNG for sustainability and reduced transportation costs.

Special Assistant to Governor Seyi Makinde on Environment, Hon. Ademola Aderinto, emphasized the importance of CNG for a safer environment and improved public health.

The program aims to distribute CNG buses to all 36 states over the next 24 months.