As part of the celebrations for Nigeria’s 64th Independence Anniversary, the Federal Government today unveiled 64 Compressed Natural Gas (CNG) buses, underscoring its commitment to providing affordable and environmentally friendly transportation for Nigerians. The unveiling ceremony, held at the Presidential Villa, was led by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun. In attendance were other high-ranking officials, including the Minister of Budget and Economic Planning, Senator Abubakar Bagudu; the Minister of Information and National Orientation, Mr. Mohammed Idris Malagi; and the Minister of State for Youth Development, Mr. Ayodele Olawande Wisdom.
This launch marks the first phase of a broader initiative that will see the distribution of over 500 CNG and 100 electric buses to labour and student unions, aimed at enhancing public transport nationwide.
During his remarks, the Honourable Minister emphasized that this initiative fulfils President Tinubu’s promise to support Nigeria’s most vulnerable citizens in the wake of necessary macroeconomic reforms.
The unveiling of these 64 buses is a symbolic gesture in honour of our nation’s 64th Independence Anniversary, but it represents just the beginning. Hundreds more buses are on order, with deliveries continuing. This is a crucial part of our strategy to transition to cleaner, more affordable energy for Nigerians, particularly in the mass transit sector.
Mr. Wale Edun, Honourable Minister of Finance and Coordinating Minister of the Economy, Nigeria
The Minister further explained that the adoption of CNG reflects a shift towards more cost-effective and environmentally friendly fuel options. He noted that CNG-powered vehicles significantly reduce fuelling costs, offering up to a 70% savings compared to petrol-powered vehicles.
A CNG vehicle costs about one-third of what it takes to fuel a petrol vehicle. Instead of spending 50,000 Naira to fill a tank, Nigerians will pay around 15,000 Naira with CNG. This is a substantial step towards lowering the cost of living, curbing inflation, and improving the quality of life for Nigerians.
Mr. Wale Edun, Honourable Minister of Finance and Coordinating Minister of the Economy, Nigeria
The rollout of CNG buses not only supports more affordable public transportation but also marks a significant milestone in Nigeria’s efforts to address climate change, promote cleaner energy, and drive sustainable economic growth.
