President Bola Tinubu has told state governors to ensure transportation costs are low, stressing that cheaper fuel must mean cheaper transportation.

Following a meeting with the governors, Tinubu told Nigerians that they have, on their own initiative, resolved to take immediate measures to bring down transportation costs in their states, with a strong focus on leveraging the cost benefits of CNG and electric vehicles.

The Federal Government is already investing significantly in this energy transition. Through the Presidential CNG Initiative, over 120,000 vehicles have been converted nationwide, with more than 100,000 additional conversion kits in the works. At the same time, we continue to expand conversion centres and refuelling infrastructure nationwide.

The Federal Government, through the Midstream and Downstream Gas Infrastructure Fund, is currently financing more than 100 gas projects across the country, including 15 CNG mother stations and 86 daughter stations. In May, I commissioned four of these projects in Lagos, Abuja and Owerri, including a 15-station refuelling network in Lagos and an Abuja facility that can serve 1,000 cars and tricycles and 50 trucks and buses a day.

"I have also directed the additional rollout of another 500 CNG refuelling stations nationwide in addition to the 500 stations ordered earlier in the year by the Fund, bringing the programme to 1,000 stations across the country," Tinubu said.

The President pointed out that intra-state transport is where Nigerians feel the cost most directly, and it is where the states hold the levers.

"I am encouraged that our Governors are moving to bring these benefits closer to the people they serve.

"We have agreed to set up a joint Federal and State committee to begin implementing these measures immediately. A vehicle running on CNG spends 60 to 80 per cent less on fuel than one running on petrol.

"From October 1, our goal is that Nigerians begin to partake in those savings through lower transport fares.
We have agreed that cheaper fuel should result in cheaper fares!

"Each tier of government must keep doing its part and work together for the benefit of every Nigerian," Tinubu said.

ASA