Details of the meeting between President Bola Tinubu and governors elected on the platform of the All Progressives Congress (APC) have emerged, with the governors agreeing to take immediate measures to reduce transportation costs in their respective states through the use of Compressed Natural Gas (CNG) and electric vehicles.
Tinubu disclosed this shortly after the meeting with the APC governors on Thursday night.
According to him, the Federal Government and state governments had agreed to work together to ensure that the benefits of cheaper alternative fuels translate into lower transport fares for Nigerians.
A joint Federal and State committee, Tinubu said, will be established to begin implementing the measures, with the goal of reducing transportation costs from October 1.
“I am pleased with my discussion with the Governors’ Forum this afternoon. The Governors 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.”
Tinubu said he had also directed the rollout of an additional 500 CNG refuelling stations nationwide, in addition to the 500 stations earlier ordered by the Fund.
He said the development would bring the total number of CNG refuelling stations under the programme to 1,000 across the country.
The President said intra-state transportation was where Nigerians felt the impact of fuel costs most directly, adding that state governments had an important role to play in ensuring that the savings from cheaper fuel reached commuters.
“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!”
Tinubu urged all tiers of government to work together to ensure that the benefits of the energy transition were reflected in the daily lives of Nigerians.
“Each tier of government must keep doing its part and work together for the benefit of every Nigerian,” he added.
